Lucintel's latest market report analyzed that recycled plastic provides attractive opportunities in the packaging, textiles, building & construction, automotive, and electrical & electronics industries. The recycled plastic market is expected to reach $XX billion by 2028 with a CAGR of 7% to 9%. In this market, Polyethylene is the largest segment by product type, whereas packaging is largest by end use industry.
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Based on product type, the recycled plastic market is segmented into polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and others. The Polyethylene segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the high demand for packaging material in consumer goods, food & beverage, industrial, and various other industries. Also, it is commonly used in laundry detergent packaging, milk cartons, cutting boards, and garbage bins, among various other applications.
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The Recycled Plastic Market is marked by the presence of several big and small players. Some of the prominent players offering recycled plastic include Indorama Ventures, Biffa, Stericycle, Republic Services, WM Intellectual Property Holdings, Veolia, Shell International BV, Waste Connections, Clean Harbors, and Covetsro AG.
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