‘Robust’ market growth on the horizon for plastics recyclers

The global plastics recycling market is projected to reach EUR 80.2 billion by 2030, new data reveals.

The fast growing plastics recycling market was worth over EUR 46 million in 2022. Market analysts expect a ‘robust expansion’ in the next few years, citing 7.4% compound annual growth.

An extensive analysis of various segments demonstrates the polyethylene (PET) category as the one witnessing the most momentum. Compound annual growth will reach almost 8% during the forecast period, representing a value of no less than EUR 22 billion.

The second biggest segment is high density polyethylene (HDPE), which is estimated to grow 7.1% over the next few years.  

In terms of world markets, the US holds a considerable share (EUR 4 billion) of the plastic recycling market. However, China’s market expansion outpaces all other regions with an 8.1% compound annual growth (EUR 31.5 billion) by 2030.

In Europe, Germany leads with a projected 6.5% compound annual growth.

Meanwhile, other significant markets include Japan and Canada. They are forecast to witness 5.6% and 5.9% compound annual growth respectively, within the same timeframe.

The Asia-Pacific region, with contributing nations like Australia, India, and South Korea, is set to be worth EUR 22.5 billion by 2030.

The new report published by Resarch&Markets spotlights 130 key players in the industry, including BASF SE and Covestro AG.