Post-Consumer Recycled Plastics Market Size Expected to Reach USD 27.34 Billion By 2032, With 10.5% CAGR: Polaris Market Research

NEW YORK, Dec. 8, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Post-Consumer Recycled Plastics Market Share, Size, Trends, Industry Analysis Report, By Source (Non-bottle Rigid, Bottles, Others); By Type; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

According to [115+ Pages] research reports, the global post-consumer recycled plastics market size is predicted to grow from USD 10.08 billion in 2022 to USD 27.34 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 10.5% from 2023 to 2032, according to the latest report by Polaris Market Research.

What Does Post-Consumer Recycled Plastics Mean? How Big is Post-Consumer Recycled Plastics Market Size?

• A Quick Review

Post-consumer recycled content, or PCR, is a material composed of the same materials that consumers recycle on a daily basis, such as paper, plastic bottles, metal, and cardboard boxes. Usually, local recycling programs gather these materials, which are then transported to recycling facilities, where they are sorted into bales according to the type of material. After that, the bales are bought, melted (or pulverized) into tiny pellets, and molded into new products.

Reducing plastic pollution, conserving resources, minimizing reliance on landfills, and preventing greenhouse gas emissions are the goals of plastic recycling. Moreover, post-consumer recycled plastics market demand is increasing as it is becoming more and more necessary for packaging applications due to the increased demand for packaging products, which was primarily caused by the spike in online sales of electronics, cosmetics, personal care products, and personal protective equipment during the global COVID-19 pandemic.

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Which is the Largest Plastic Recycling Company?

• Alpha Packaging
• Amcor plc
• Berry Global Inc.
• Biffa
• CLEAN HARBORS, INC.
• Coveris
• DS Smith
• Eco-Products, Inc.
• Mondi
• Placon
• REMONDIS SE & Co. KG
• Sealed Air
• Seventh Generation Inc.
• Stericycle
• SUEZ
• Veolia
• WM Intellectual Property Holdings, L.L.C.

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Important Highlights from the Report

• Throughout the forecast period, the market is anticipated to rise as a result of the increasing usage of plastic in the production of lightweight components for a variety of industries, including food processing, automotive, and construction.
• The post-consumer recycled plastics market segmentation is mainly based on type, region, and source.
• Asia Pacific dominated the market with the largest share in 2022.

Post-Consumer Recycled Plastics Market Details

Market's Prime Determinants of Growth, Trends, and Opportunities

Growth Drivers

• Positive Environmental Impact: As it has a favorable environmental impact, the post-consumer recycled plastics market size is expanding. Eco-friendly packaging substitutes are becoming more and more popular as consumers and businesses become more conscious of environmental sustainability and the need to reduce plastic waste.
• Expansion of the Construction Sector: The construction industry's growth in developing nations such as China, India, Mexico, and Brazil is expected to lead to a significant increase in the demand for recycled plastics manufactured after consumer use. Throughout the forecast period, these recycled plastics will be used to produce a range of components, such as fixtures, insulation, and safety items, including gloves, belts, and vests.

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Trends and Opportunities

• Sustainable Objectives: Recycled packaging supports a circular economy, which minimizes environmental impact and fights climate change by encouraging the reuse, recycling, and repurposing of resources. Customers are drawn to this beneficial environmental impact, which fuels the expansion of the post-consumer recycled plastics market growth as businesses work to meet sustainability goals and meet the pressing demand for eco-friendly packaging options.

Segmental Analysis

• The Bottles Sector Holds the Largest Revenue Share

The majority of post-consumer recycled materials come from plastic bottles, which are used in a variety of industries to package fizzy drinks, oils, water, and medications.

Moreover, non-bottle rigid contains post-consumer plastic sheets and foam that are broadly utilized in packaging. Extended polystyrene is the most widely used kind of post-consumer recycled plastic foam among them.

• The Polyethylene Sector Accounts for the Highest Market Share

Because of its remarkable chemical and mechanical properties, polypropylene is used extensively in the manufacturing of medical equipment, automotive parts, packaging, and various laboratory supplies. This material has remarkable mechanical strength as well as resilience to a variety of chemical solvents, acids, and bases.

Among many other applications, it is used to create piping systems, floor mats, consumer goods, plastic hinges, carpets, and rugs. In the upcoming forecast period, there will likely be a greater need for post-consumer recycled polypropylene due to the rising demand for these items.

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Regional Insights

Which Country Recycles the Plastic Most?

Asia Pacific: The Asia Pacific construction industry is poised for significant expansion in the next years due to the growing demand for non-residential construction projects, which include schools and universities as well as hospitals. The demand for products such as helmets, safety vests, safety belts, and other items related to personal protection equipment is anticipated to increase due to the upsurge in construction activities, hence driving post-consumer recycled plastics market growth.

Europe: During the projection period, Europe is anticipated to have tremendous growth. The region's adoption of circular economy ideas, which boost post-consumer plastic recycling as a means of reducing the carbon footprint associated with plastic manufacture, is driving this expansion. Landfill prohibitions have resulted in slow production development in European countries because of the post-consumer plastic recycling industry.

Browse the Detail Report "Post-Consumer Recycled Plastics Market Share, Size, Trends, Industry Analysis Report, By Source (Non-bottle Rigid, Bottles, Others); By Type; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/post-consumer-recycled-plastics-market          

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Key Questions Answered in the Report

• What is the current and expected size of the post-consumer recycled plastics market during the forecast period?
• Which factors are driving the market growth?
• What are the key opportunities in the market?
• Which segments are holding the largest post-consumer recycled plastics market share?
• What is the study period of the market?

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About Polaris Market Research:

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SOURCE Polaris Market Research