Plastic Bottle Recycling Market Poised to Register Rapid Growth

Among regions, North America and Europe are likely to lead the projected market growth.

SEATTLE (Scrap Monster): According to the most recent study by Maximize Market Research, the recycling of plastic bottles is expected to expand rapidly over the next ten years. The market is anticipated to reach $6.16 billion by 2030, up from $4.32 billion in 2023, with a compound annual growth rate (CAGR) of 5.2%.

Growing government regulations like landfill bans and extended producer responsibility, improvements in recycling technologies, the expansion of infrastructure, and growing consumer demand for resource conservation and sustainable waste management will be the primary drivers of the anticipated market growth.

North America and Europe are anticipated to dominate the market in terms of growth. Because of their more developed recycling systems and more stringent regulatory frameworks, the areas are probably going to experience an increase in recycling programs.

Due to their extensive use in beverages and their ease of recycling, PET bottles are also anticipated to outnumber other recycled plastic types among materials. According to the study, there is an increasing need for recycled PET and HDPE in building, textile, and packaging industries.

Contamination, inadequate collection and sorting infrastructure in developing nations, inconsistent recycling requirements across regions, and price competition with virgin plastics are all anticipated to provide problems for the market.

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