Asia Pacific Recycled Plastics Market To Reach $48.0 Billion By 2030

Asia Pacific Recycled Plastics Market Growth & Trends

The Asia Pacific recycled plastics market size is anticipated to reach USD 48.0 billion by 2030, exhibiting at a CAGR of 10.1% from 2024 to 2030, according to a new study published by Grand View Research, Inc. Growing demand for recycled films from various end-use industries is anticipated to drive the growth.

Recycling is a process of recovering scrap and reprocessing the materials into useful products. Several benefits, such as reduced landfill, efficient use of energy, and low carbon emission are anticipated to drive the demand for recycled plastic from electrical and electronics, textile, packaging, and automotive among end-use industries. Increasing consumer awareness regarding sustainability is compelling end users to adopt recycled plastics. Fast-moving consumer goods and food and beverage are the major sectors adopting recycled plastics for packaging. In addition, increasing automobile production in countries, such as India, China, Indonesia, and Japan is anticipated to create ample opportunities for the market during the forecast period. Factors, such as increasing disposable income, improving standard of living, and growing population, especially in China and India, are fueling growth of automotive industry in Asia Pacific.

Plastic films is one of the prominent segments based on source of recycled plastic. It is a thin gauge packaging used as a wrap or a bag. Shopping bag, bubble bag, garbage bag, and stretch wraps are some of the film types. Business areas that require handling and reshipping products generate large quantities of recyclable films. Distribution and wholesale activities generate majority of post-consumer commercial film scraps ideal for recycling.

Based on type, Polyethylene Terephthalate (PET) segment is estimated to witness significant growth over the forecast period owing to ease of collection in the form of PET bottles. PET products are widely used in automotive, packaging, food and beverage, and other consumer goods industries as they are 100% recyclable in nature. Beneficial properties, such as dimensional stability, stiffness, high impact capability and shatter resistance, hot filling capability, and excellent barrier to O₂, H₂O, and CO₂, have led to rising demand for PET from packaging, automotive, and manufacturing industries, in turn, fueling growth of PET segment. In the polyethylene segment, high density polyethylene is projected to account for more than 75% of overall market by the end of the forecast period.

Building and construction segment is anticipated to witness the fastest CAGR over the forecast period. Rapid industrialization and urbanization in emerging economies such as China and India are some of the factors expected to create huge demand for the product in the construction sector, which in turn is likely to fuel growth of the Asia Pacific recycled plastics market. Increasing infrastructure budget in Asian countries is further propelling the growth. Moreover, growing popularity of green building is estimated to create lucrative growth opportunities for the overall regional market in near future.

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Asia Pacific Recycled Plastics Market Report Highlights

• The rest of Asia Pacific segment is anticipated to continue holding the largest market share during the forecast period

• Manufacturing of a product from recycled HDPE is looked up as an alternative to virgin HDPE, which is expected to boost the segment growth over the forecast period

• Building and construction segment is potentially fueling the growth owing to rising industrialization and urbanization in the region

• Bottles was the prominent segment based on source in 2023 and is anticipated to maintain its dominance over the forecast period

Asia Pacific Recycled Plastics Market Segmentation

Grand View Research has segmented the Asia Pacific recycled plastics market report based on source, type, application, and country.

Asia Pacific Recycled Plastics Source Outlook (Revenue, USD Million, 2018 - 2030)

• Plastic Bottles

• Plastic Films

• Polymer Foam

• Others

Asia Pacific Recycled Plastics Type Outlook (Revenue, USD Million, 2018 - 2030)

• Polyethylene (PE)

• Polyethylene Terephthalate (PET)

• Polypropylene (PP)

• Polyvinyl Chloride (PVC)

• Polystyrene

• Others

Asia Pacific Recycled Plastics Application Outlook (Revenue, USD Million, 2018 - 2030)

• Building & Construction

• Packaging

• Electrical & Electronics

• Textiles

• Automotive

• Others

Asia Pacific Recycled Plastics Countries Outlook (Revenue, USD Million, 2018 - 2030)

• China

• India

• Indonesia

• Thailand

• Vietnam

• Philippines

List of Key Players in the Asia Pacific Recycled Plastics Market

• Veolia

• SUEZ

• IMERYS

• Plastipak Holdings, Inc.

• Polindo Utama (GBG)

• Pt. Production Recycling Indonesia

• The Shakti Plastic Industries

• KK Asia Pte Ltd. (K K Asia (HK) Ltd.)

• Astron Sustainability

• Bingo Industries