North America Plastic Recycling Market Growth, Size, Trends, Revenue, Demand and Future Outlook
North America Plastic Recycling Market Size- By Plastic Type, By Raw Material, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2024 | Report ID: CHEM2477 | Pages: 1 - 155 | Formats*: |
| Category : Chemical & Materials | |||
North America Plastic Recycling Market Introduction and Overview
According to SPER Market Research, the North America Plastic Recycling Market is estimated to reach USD 9.15 billion by 2033 with a CAGR of 13.31%.
The report includes an in-depth analysis of the North America Plastic Recycling Market, including market size and trends, product mix, applications, and supplier analysis. The plastic recycling market is an important economic sector that involves the collecting, sorting, processing, and resale of plastic materials at the end of their life cycle. Its relevance lies in reducing the environmental impact of plastic waste by redirecting it away from landfills, so preserving natural resources and lowering greenhouse gas emissions related with virgin plastic manufacture. This market is run by a network of firms, including waste management companies, recycling facilities, and manufacturers who convert recycled plastics into new items. By supporting a circular economy strategy in which products are reused rather than discarded, the market not only solves environmental issues but also promotes sustainable development goals.
- November 2023; Eastman, a global specialty materials manufacturer, has announced the launch of its Advanced Circular Recycling facility in Kingsport, TN. This factory uses molecular recycling methods to convert waste plastics, such as polyethylene and polypropylene, into high-quality recycled materials for use in a number of industries, including cosmetic packaging and textiles.
- September 2022; LyondellBasell, a worldwide chemical corporation, has formed a joint venture with Suez, a global leader in environmental services, to develop chemical recycling capabilities in North America. This collaboration intends to improve post-consumer plastic waste recycling by employing novel technologies to convert plastic waste into new raw materials, resulting in a more sustainable plastic recycling infrastructure in the region.
Market Opportunities and Challenges
The opportunities occur as a result of the development and implementation of advanced recycling technologies that increase the efficiency and efficacy of plastic waste management procedures. Chemical recycling, which turns plastic waste into chemical building blocks for new plastics or other products, is a promising innovation for growing the market. Companies who invest in research and development to improve recycling methods and create value-added products from recycled plastics are well positioned to take advantage of these opportunities. Furthermore, partnerships and collaborations among technology developers, waste management businesses, and manufacturers can speed up innovation and boost market growth by tackling issues like contamination and material quality.
One major issue in this market is insufficient recycling infrastructure, which includes collecting systems, sorting facilities, and recycling plants. Insufficient investment in infrastructure development hinders the ability to adequately handle and treat increasing volumes of plastic garbage. This bottleneck frequently results in logistical issues, greater operational expenses, and poorer recycling efficiency. Companies and stakeholders encounter opposition to expanding recycling efforts due to infrastructure gaps that require significant expenditures and concerted efforts across the value chain to solve. Furthermore, uncertainty in legal frameworks and economic incentives can discourage investment in recycling infrastructure, exacerbating market resistance.
Market Competitive Landscape
The competitive landscape of the plastic recycling market is defined by a varied range of stakeholders, including waste management companies, recycling facilities, and manufacturers who use recycled materials. Competition is based on technological innovation, operational efficiency, and the capacity to achieve strict quality criteria for recycled products. The major players in the market are Agilyx, Brightmark LLC, PLASTIPAK HOLDINGS INC., MBA Polymers Inc., Custom Polymers, UltrePET LLC, KW Plastics, Carbonlite Inc., Seraphim Plastics, Post Plastic Inc., Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Plastic Type, By Raw Material, By Application |
| Regions covered | Canada, Mexico, United States, Rest of North America. |
| Companies Covered | Agilyx, Brightmark LLC, PLASTIPAK HOLDINGS INC., MBA Polymers Inc., Custom Polymers, UltrePET LLC, KW Plastics, Carbonlite Inc., Seraphim Plastics, Post Plastic Inc., Others. |
COVID-19 Impact on North America Plastic Recycling Market
The COVID-19 epidemic largely impacted the plastic recycling business by disrupting supply chains. Lockdowns and limitations enforced around the world hampered plastic garbage collection and sorting, posing operational issues for municipal services and recycling facilities. During lockdowns, reduced consumer activity and industry production resulted in a fall in post-consumer and post-industrial plastic trash generation, impacting recycling input quantities. Furthermore, logistical obstacles and transportation restrictions slowed the flow of recycled materials and finished goods, compounding supply chain inefficiencies. These disruptions exposed flaws in the market's supply chain resilience, emphasizing the importance of contingency planning and diverse supply sources for mitigating future risks.
Key Target Audience:
- Academic Institutions and Educators
- Environmental Organisation and Advocacy Groups
- Research and Development Professional
- Investors and Financial Institutions
- Government and Regulatory Bodies
- Industry Stake Holders
Our in-depth analysis of the North America Plastic Recycling Market includes the following segments:
| By Plastic Type: |
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| By Raw Material: |
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| By Application: |
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Key Topics Covered in the Report:
- North America Plastic Recycling Market Size (FY’2024-FY’2033)
- Overview of North America Plastic Recycling Market
- Segmentation of North America Plastic Recycling Market By Plastic Type (Polyethylene Terephthalate (PET), High Density Polyethylene (HDPE), Polypropylene (PP), Low Density Polyethylene (LDPE))
- Segmentation of North America Plastic Recycling Market by Raw Material (Plastic Bottles, Plastic Films, Rigid Plastic and Foams Fibres)
- Segmentation of North America Plastic Recycling Market By Application (Non-Food Contact Packaging, Food Contact Packaging, Construction Automotive)
- Statistical Snap of North America Plastic Recycling Market
- Expansion Analysis of North America Plastic Recycling Market
- Problems and Obstacles in North America Plastic Recycling Market
- Competitive Landscape in the North America Plastic Recycling Market
- Impact of COVID-19 and Demonetization on North America Plastic Recycling Market
- Details on Current Investment in North America Plastic Recycling Market
- Competitive Analysis of North America Plastic Recycling Market
- Prominent Players in the North America Plastic Recycling Market
- SWOT Analysis of North America Plastic Recycling Market
- North America Plastic Recycling Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the North America Plastic Recycling Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Plastic Recycling Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Plastic Recycling Market
7. North America Plastic Recycling Market, By Plastic Type (USD Million) 2020-2033
7.1. North America Plastic Recycling Market, Share and Forecast, By Plastic Type, 2020-20267.2. North America Plastic Recycling Market, Share and Forecast, By Plastic Type, 2027-20337.3. Polyethylene Terephthalate(PET)7.4. High Density Polyethylene(HDPE)7.5. Polypropylene(PP)7.6. Low Density Polyethylene(LDPE)
8. North America Plastic Recycling Market, By Raw Material (USD Million) 2020-2033
8.1. North America Plastic Recycling Market, Share and Forecast, By Raw Material, 2020-20268.2. North America Plastic Recycling Market, Share and Forecast, By Raw Material, 2027-20338.3. Plastic Bottles8.4. Plastic Films8.5. Rigid Plastic and Foams8.6. Fibres
9. North America Plastic Recycling Market, By Application (USD Million) 2020-2033
9.1. North America Plastic Recycling Market, Share and Forecast, By Application, 2020-20269.2. North America Plastic Recycling Market, Share and Forecast, By Application, 2027-20339.3. Non-Food Contact Packaging9.4. Food Contact Packaging9.5. Construction9.6. Automotive
10. North America Plastic Recycling Market Forecast, 2020-2033 (USD Million)
10.1. North America Plastic Recycling Market and Market Share
11. North America Plastic Recycling Market, By Region, 2020-2033 (USD Million)
11.1. North America Plastic Recycling Market and Market Share By Region (2020-2026)11.2. North America Plastic Recycling Market and Market Share By Region (2027-2033)
11.2.1. Canada11.2.2. Mexico11.2.3. United States11.2.4. Rest of North America
12. Company Profile
12.1. Agilyx
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Brightmark LLC
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. PLASTIPAK HOLDINGS INC.
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. MBA Polymers Inc.
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. Custom Polymers
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. UltrePET LLC
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. KW Plastics
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. Carbonlite Inc.
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Seraphim Plastics
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Post Plastic Inc.
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The key players in the Market include Companies Covered Agilyx, Brightmark LLC, PLASTIPAK HOLDINGS INC., MBA Polymers Inc., Custom Polymers, UltrePET LLC, KW Plastics, Carbonlite Inc., Seraphim Plastics, Post Plastic Inc., Others.
The plastic recycling market is an important economic sector that involves the collecting, sorting, processing, and resale of plastic materials at the end of their life cycle.
North America Plastic Recycling Market size is USD 9.15 billion from 2024 to 2033.
North America Plastic Recycling Market is covered By Plastic Type, By Raw Material, By Application.
The North America is anticipated to have the highest Market share in the North America Plastic Recycling Market.
North America Plastic Recycling Market is projected to reach USD 9.15 billion by 2033, growing at a CAGR of 13.31% during the forecast period.
North America Plastic Recycling Market grew in Market size from 2024. The Market is expected to reach USD 9.15 billion by 2033, at a CAGR of 13.31% during the forecast period.
North America Plastic Recycling Market CAGR of 13.31% during the forecast period.
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