Plastic Bottle Recycling Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Plastic Bottle Recycling Industry Prospective:

The global plastic bottle recycling market size was evaluated at $4.35 billion in 2023 and is slated to hit $8.35 billion by the end of 2032 with a CAGR of nearly 7.4% between 2024 and 2032.

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Plastic Bottle Recycling Market: Overview

Plastic bottle recycling is a key process focused on minimizing ecological impact of plastic waste from ubiquitous products such as soda bottles and water. Moreover, the recycling of plastic bottle involves many phases including collecting, sorting, cleansing, and processing. This, in turn, alters utilized plastic bottles into new ones.

Key Insights

• As per the analysis shared by our research analyst, the global plastic bottle recycling market (CDR) market is projected to expand annually at the annual growth rate of around 7.4% over the forecast timespan (2024-2032)
• In terms of revenue, the global plastic bottle recycling market size was evaluated at nearly $4.35 billion in 2023 and is expected to reach $8.35 billion by 2032.
• The global plastic bottle recycling market is anticipated to grow rapidly over the forecast timeline owing to humungous demand for resource conservation and energy savings along with necessity of minimizing GHG emissions related to processing & extraction.
• In terms of material type, the PET segment is slated to register the highest CAGR over the forecast period.
• Based on recycling technology, the chemical recycling segment is predicted to contribute majorly towards segmental space in the upcoming years.
• On the basis of application, the textiles segment is expected to lead the global market expansion over the coming eight years.
• Region-wise, the Asia-Pacific plastic bottle recycling industry is projected to register the fastest CAGR during the assessment timespan.

Plastic Bottle Recycling Market: Growth Factors

Humungous consumer preference towards renewable items to boost the global market trends

Humungous demand for resource conservation and energy savings along with necessity of minimizing GHG emissions related to processing & extraction can surge up the global plastic bottle recycling market. Growing environmental concerns and strict laws related to plastic pollution has led to escalating use of plastic bottle recycling solutions.

Furthermore, huge customer demand for renewable as well as recyclable products will steer the global market trends. Additionally, technological breakthroughs in recycling and need for cost savings are expected to multiply the global market surge.

Plastic Bottle Recycling Market: Restraints

Rising prices of infrastructural development to hit the global industry surge over 2024-2032

Chances of chemical contamination of the plastic bottles and lack of efficient collection tools used in recycling of plastic bottles can hinder the global plastic bottle recycling industry expansion.

Furthermore, high costs of infrastructural development and massive power utilization required in plastic bottle recycling process can prove detrimental in the growth path of the global industry.

Plastic Bottle Recycling Market: Opportunities

Growing demand for renewable products to create new growth facets for the global market

Escalating inclination towards the use of recyclable products and technological prowess in plastic bottle recycling processes are likely to create new growth avenues for the global plastic bottle recycling market.

Moreover, educational awareness and customer preference for recyclable products can shape new facets of growth for the global market. Launching of new product designs and need of lightweight & strong packaging is likely to foster the global market surge.

Plastic Bottle Recycling Market: Challenges

Low consciousness about benefits related to product recycling can obstruct the global industry surge by 2032

Quality issues and fluctuations in the demand for recycled plastic bottles are likely to impact the growth of the global plastic bottle recycling industry.

Moreover, lack of awareness among end-users about advantages of product recycling coupled with inconsistent recycling behavior can challenge the expansion of the global industry.

Plastic Bottle Recycling Market: Segmentation

The global plastic bottle recycling market is divided into material type, recycling technology, application, and region.              

In terms of material type, the plastic bottle recycling market across the globe is segmented into PET, PP, and HDPE segments. Apparently, the PET segment, which garnered nearly 64.5% of the global market revenue in 2023, is slated to record fastest CAGR in the coming eight years can be subject to large-scale use of PET in manufacture of plastic beverage bottles.

In addition to this, easy availability of robust infrastructure facilities for PET bottle recycling processes in both emerging economies and developed countries is likely to contribute lucratively towards the growth of the segment in the years ahead.

The use of the product in fibers utilized for fabric production, food packaging, and vehicle parts is expected to augment the segmental landscape.

Based on the recycling technology, the global plastic bottle recycling industry is divided into mechanical recycling, thermal recycling, and chemical recycling segments.

Apparently, the chemical recycling segment, which led the global industry size in 2023, is slated to account lucratively towards the segmental expansion in the analysis timeframe and this can be as a result of wide range of use of chemical recycling process in manufacture of plastic bottles.

Reportedly, chemical recycling can has ability in processing wide range of plastics including high-quality plastic materials.

On the basis of application, the global plastic bottle recycling market is sectored into packaging, construction, textiles, and automotive segments.

Furthermore, textiles segment, which dominated the segmental surge in 2023, is predicted to lead the market expansion across the globe owing to escalating demand for plastic bottle recycling in textiles with changing fashion trends and versatile nature of recycled polyesters.

Plastic Bottle Recycling Market: Report Scope

Plastic Bottle Recycling Market: Regional Insights

Europe is likely to maintain leading status in the global market over the analysis timeframe

Europe, which contributed about 42% of the global plastic bottle recycling market size in 2023, is likely to establish a leading position in the global market in the expected timeline.

Moreover, the regional market expansion in the upcoming years can be subject to strict environmental laws along with promoting of recyclable plastics in European countries.

Apart from this, surging customer awareness about environment and incentives used for promoting the use of recycling plastics to boost the regional market trends.

Asia-Pacific plastic bottle recycling industry is expected to register the highest CAGR over 2024-2032. The elevation of the industry in APAC can be as a result of swift economic development, surging environmental concerns, and supportive government schemes. Presence of key players in the countries such as India and China are likely to spur the industry growth in APAC.

Plastic Bottle Recycling Market: Competitive Space

The global plastic bottle recycling market profiles key players such as:

• Stericycle
• Cospack America Corporation
• Plastipak Holdings Inc.
• Veolia Environment SA
• CarbonLITE Industries
• Biffa
• Banyan Nation
• SUEZ Recycling & Recovery
• B&B Plastics
• KW Plastics
• Ultra Poly Corporation
• Remondis
• Carbios
• Revalyu.

The global plastic bottle recycling market is segmented as follows:

By Material Type

• PET
• PP
• HDPE

By Recycling Technology

• Mechanical Recycling
• Thermal Recycling
• Chemical Recycling

By Application

• Packaging
• Construction
• Textiles
• Automotive

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa