The Post-Consumer Recycled Plastics Market share value is expected to grow at a CAGR of 8.3% during the forecast period 2023-2028
Post-consumer recycled Plastics are collected from the consumer’s waste that is used and discarded. Plastic waste includes bottles, straws, cups, etc, that have been initially used. This plastic waste is collected, processed, and recycled by the industry to avoid its disposal in landfills and to protect the environment from pollution. The first step in the process includes collection; the plastic waste is collected from the consumers by simply door-to-door pickup or through a specialized collection drive. Later, the collected plastic is sorted on the basis of color and type. Plastic waste having the same resin type is processed together. The collected and sorted waste of plastic is then cleaned and shredded into small pieces, flakes, or pellets, and lastly, it is melted into molten to create a new product. Over the years, the post-consumer plastic recycled plastics market has seen significant growth in market share and market size due to increasing consumer awareness to save the environment from plastic pollution.
With the increasing use of plastics around the world, there is a growing awareness among consumers and government authorities of plastic pollution; since the presence of plastic pollution thrown away ends up in the landfills or ocean, this destroys the natural habitat, enters into the system of aquatic flora and fauna, and leads to biomagnification. According to the reports by Plastic Ocean International, over 380 million tons of plastic is produced every year, of which 50% consists of single-use plastic; such a huge amount of plastic waste takes 50 to 200 years to degrade, creating a huge impact on the environment, by affecting the food chain and livelihood of the people. Therefore, the post-consumer recycled plastics market offers a solution by utilizing this plastic waste and minimizing the environmental impact. This led to the market growth.
Most recycled plastic is used as packaging material; polyethylene terephthalate is the most popular recycled plastic that is converted from waste. Because of its durability and affordability, it is mostly preferred as a packaging material for bottles and food packaging material. It was estimated that around 56 million tonnes of plastic waste are produced, and almost all of it is used in the manufacturing of bottles. This has driven the post-consumer recycled plastics market and increased its market share.
With the growing awareness of the environment and sustainability, consumers are actively seeking products that are environment-friendly and are made from recycled material. These increasing concerns for the environment from consumers encouraged the plastic manufacturing industry to initiate the post-consumer recycling process. This caused the expansion of the post-consumer recycled plastics market and increased its market share.
One of the major constraints for the post-consumer recycled plastics market is the processing cost. Post-consumer recycling of plastic starts from the collection and sorting of the plastic for its type and color. The cost involved for the collection and sorting through drives or door-to-door collection is high and requires a lot of investment. This creates restraints for the post-consumer recycled plastics market. Also, the post-collection method and processes involve a huge investment, which can limit the expansion of the post-consumer recycled market for manufacturers who have a low budget.
This could impact the market share and market size of the post-consumer recycled plastics market.
Achieving quality and consistency for post-consumer recycled plastic is challenging; variations during the collection and sorting could create contaminants, causing the quality of the plastic to degrade, and it can hamper the reliability and properties of the recycled plastic. This can restrict the growth of the post-consumer recycled plastics market size.
One of the major uses of post-consumer recycled plastics is in packaging material; the packaging manufacturer is facing challenges from the government authorities to reduce the environmental impact; as a step towards sustainability, the packaging industry can use recycled plastics for packaging materials. This opportunity can expand the post-consumer recycled plastics market. Owing to this, automotive and transportation industries can make use of post-consumer recycled plastics for their vehicle components; as this plastic is lightweight and sustainable, it can be an attractive option for the industry. This opportunity in transportation and automotive will increase the market share of the post-consumer recycled plastics market.
The outbreak of COVID-19 had a major impact on the post-consumer recycled plastics market; there was a decline in the market growth due to consumer decrease in spending capacity, also because of the implementation of the lockdown and travel ban, the door-to-door collection of consumer plastics was restricted, this further impacted the market share and market size of the post-consumer recycled plastics market.
Another major impact was disruptions in the supply and manufacturing operations; due to the lockdown, there was a shortage of labor, raw materials, and transportation facilities, which led to the shutting of the industry and a shortage of workforce. These disruptions by the pandemic had an impact on the post-consumer recycled plastics market, causing a reduction in market share and market size.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
8.3% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional and Country Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
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Market Segmentation:
The polyethylene type (PE) accounts for the highest market share and market size in the post-consumer recycled plastics market. This dominance of this segment was due to the wide usage of polyethylene in plasticware, such as in plastic bags, plastic films, and plastic bottles). This polyethylene has high resistance to chemicals and solvents, therefore making it a popular choice in recycled plastic packaging and automotive.
The polypropylene segment accounts for the fastest-growing post-consumer recycled plastics market because of its chemical resistance property to dilute acid and solvents and also resistance to aldehydes, ketones, and aliphatic hydrocarbon.
Many recycling initiatives by government regulatory bodies are taking initiatives to recycle post-consumer plastics for environmental sustainability. Also, these initiatives created more recycling facilities which are expanding the post-consumer recycled plastics market and increasing the market share and market price.
The incineration segment is the fastest-growing CAGR and market share because of the quick way to dispose of and eliminate plastic waste. It involves burning the plastic at a high temperature.
The packaging segment holds the highest market share and CAGR, as many packaging companies are utilizing post-consumer recycled plastics as a packaging material, especially polyethylene terephthalate which is the most commonly used packaging material due to its resistance to acids and solvents, and this leading to increase in the post-consumer recycled plastics market demand. The automotive segment has contributed to the highest market share and CAGR because of the use of recycled plastics such as polyethylene terephthalate for components used in automobiles, such as brakes, handles, and stands. All these segments are increasing the market value and opportunities for the post-consumer recycled plastics market.
The segment chemical process has the highest market share and CAGR because most of the collected and sorted plastics in industries are converted to recycled plastics by the chemical process. Because the chemical process is fast and retains the quality of the product. Whereas the biological process accounts for the highest CAGR, since many researchers are discovering bacteria that can degrade plastics, this organic way of degrading plastic serves more advantages than the chemical process. Many companies, such as Nestle and Loreal, have been using 100% post-recycled plastic for packaging. This has caused the post-consumer recycled plastics market to expand and increase its market share.
Based on the region, the Asia-Pacific segment holds the highest market share in the post-consumer recycled market; an increase in the population and spending power of the people led to an increase in plastic waste. Also, the ignorance of pollution led to an increase in plastic waste, which surged the post-consumer recycled plastics market to rise in market share and market size. Europe segment is seeing the fastest growth in CAGR and market size due to many government initiatives that are creating awareness for environmental protection and sustainability, which led to market demand for the post-consumer recycled plastics market. The North American segment has forecasted to have significant growth due to rising consumer awareness of using recycled products. Also, a growing economy is driving the market exponentially. Latin America, the Middle East, and Africa are also seeing steady growth over the forecast period.
Republic Services, Inc.
WM Intellectual Property Holdings, L.L.C.
Veolia
Shell International B.V.
Waste Connections
CLEAN HARBORS, INC
Frequently Asked Questions
Increasing awareness of the environment and sustainability by the government and consumers is the major driving factor of the market
The market is estimated to register a CAGR of 8.3% during the forecast period
High costs required in the processing are the major challenging factor for the market.
Asia Pacific is leading with the highest shares of the market.
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