Plastic Bottle Recycling Market

Plastic Bottle Recycling Market Size

Plastic Bottle Recycling market size was valued at USD 4.27 billion in 2021 and projected to grow from USD 4.8 billion in 2023 to USD 7.93 billion by 2032, exhibiting a CAGR of 5.8% during the forecast period.

Plastic bottle recycling is a process to recover scrap plastic waste and reprocessing it into useful products. Recycling plastic reduces the plastic pollution as they are non-biodegradable and has less pressure on virgin materials to produce new plastic products and aiding in conserving resources. Recycled plastics have limited use. Plastic bottles used for packaging food & beverage and the recycling of plastic has several uses in applications like films, consumer products, beauty care products, and pharmaceuticals.

Market Highlights

Plastic Bottle Recycling Market is expected to project a CAGR of 5.8% during the forecast period, 2022-2032

Plastic Bottle Recycling market is expected to reach USD 7.93 billion, growing at a CAGR of 5.8% during forecast period owing to the rising application of restrictions on use of single-use polymer along with the government initiatives are awaited to drive the growth of plastic bottle recycling market. The development & transformation of products like films, containers, bottles, and cutlery utilizing Post-Consumer Recycled (PCR) plastics will aid in the growth of Plastic Bottle Recycling market.

Plastic Bottle Recycling Market Segmentation:

Polyethylene Terephthalate (PET) segment is expected to dominate in 2022-2032

Plastic Bottle Recycling Market is classified based on the Material into Polyethylene Terephthalate {PET}, Polypropylene {PP}, High-density Polyethylene (HDPE), Low-density Polyethylene {LDPE}, Polyvinyl Chloride {PVC} and Other. Polyethylene terephthalate is expected to dominate the market during the forecast period owing to the utilization of PET for food packaging and bottling. PET is lightweight, non-toxic and durable which creates demand in packaging of food & beverage products.

Non-Food Packaging segment is expected to dominate in the forecast period

Plastic Bottle Recycling Market is classified based on the Application into Non-Food Packaging, Food Packaging, Construction, Automotive, and Others. Non-Food Packaging segment is expected to dominate the market in the forecast period owing to the presence of high demand for recycled plastic in the manufacture of bottles and several packing products like wraps. & films. The availability of recycled plastic at low price and its sustainability, is expected to boost the growth of packaging products.

Market Dynamics:                                                    

Growth Drivers

Increasing Adoption of Recycled Products is Expected to Boost the Market Growth

Several regulations are being imposed by the regulatory bodies & government of various countries to promote the adoption of Recycled Plastic which assist in designing recycling processes like collection schemes, and production of innovative products recycling is expected to create growth opportunity for the market. The application of ban over single-use polymer in several countries along with the increasing rate of recycling for decreasing the plastic pollution will assist in boosting the market to grow. The in various countries will provide growth opportunities for the market.

Rising Awareness on Utilization of Recycled Plastic Will Aid in the Market Growth

The awareness on usage of recycled plastic materials in consumer goods and food & beverage industry is expected to boost the market growth. The usage of recyclable polymer is increasing due to the high demand for food-safe packaging material which are helpful in replacing conventional plastics and is expected to help in increasing the market growth. Recycled polymers are useful in packaging fashion accessories, sports equipment, and toys, to enhance the durability of product, further having increased demand growth of the market.

Restraint

Preference for Virgin Plastics May Hamper the Market Growth

The utilization of virgin plastic in the packaging of food owing to the better quality may restrain the growth of Plastic Bottle Recycling Market. There has been a reduction in the cost of crude oils, resulting in the increased usage of virgin plastics compared to recycled alternative restricting the market growth.

Recent Developments:

• In May 2021, Plastipak Holdings launched new recycling plant in Toledo, Spain which started production in early 2022 to produce food-grade recycled PET (rPET).

• In May 2020, Coca-Cola introduced 100% rPET packaging in small plastic bottles offered in the Netherlands and Norway.

Plastic Bottle Recycling Market:Key Players Covered:

• The Coca-Cola Company Incorporated

• Ultra Poly Corporation
• KW Plastics
• MBA Polymers 
• CarbonLite Industries LLC
• Clear Path Recycling
• Veolia 
• Custom Polymers
• Suez 
• B. Schoenberg & Co.
• Fresh Pak Corporation
• B&B Plastics
• Envision Plastics Industries LLC 
• Green Line Polymers
• Plastipak Holdings
• Jayplas
• Other Prominent Players

(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Plastic Bottle Recycling Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific region dominated the Plastic Bottle Recycling Market in 2021 and is also expected to dominate the same over the forecast period owing to the countries in this region using Recycled Plastic and presence of key market players in this region who are focusing on recycling of plastic bottles. The rising growth of packaging industry is expected to accelerate the market in this region. 

Impact of Covid-19 on Plastic Bottle Recycling Market

The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. Covid-19 has affected several industries and even led to shutdown of many business activities worldwide. The Covid-19 pandemic had a negative impact on the growth of Plastic Bottle Recycling market owing to the difficulties faced in the collection of waste plastic products during the lockdown.

Plastic Bottle Recycling Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Plastic Bottle Recycling Market Scope and Segments:

Frequently Asked Questions (FAQ):