Grinding Towards Circularity: The Growth and Future of the Mechanical Plastics Recycling Market

Mechanical Recycling of Plastics Market Growth & Trends

The global Mechanical Recycling of Plastics Market size was estimated at USD 35,170.05 million in 2023 and is projected to grow at a CAGR of 9.36% from 2024 to 2030. Rising non-biodegradable plastic pollution globally is increasing the threat of various ill effects caused by this pollution, leading to a surge in the demand for sustainable actions to manage plastic pollution effectively.

In recent years, the market has seen a shift towards circular economy models, where plastics are reused and recycled multiple times. Governments, particularly in Europe and North America, are pushing for stricter regulations on plastic waste management, encouraging industries to adopt sustainable recycling practices. Large consumer brands are also pledging to increase the use of recycled plastics in their packaging, boosting demand for mechanical recycling. The trend towards greater transparency and traceability in recycling processes is also growing, with companies investing in technologies that ensure the quality and purity of recycled plastics.

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Mechanical Recycling Of Plastics Market Report Highlights

• Based on product, the polyethylene (PE) segment led the market with a share of 31.96% in terms of revenue in 2023.
• Based on application, the packaging segment dominated the market with the largest revenue share of 34.36% in 2023.
• The North America mechanical recycling of plastics market is boosted by the drive towards corporate sustainability commitments and extended producer responsibility (EPR) programs.

Mechanical Recycling Of Plastics Market Segmentation

Grand View Research has segmented Mechanical Recycling of Plastics market report on the basis of Product, Application, and Region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Polyvinyl Chloride
• Polystyrene
• Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Packaging
• Automotive
• Building & Construction
• Electrical & Electronics
• Textiles
• Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Denmark
• Norway
• Sweden
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Central & South America
• Brazil
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

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