Global Plastic Recycling Market to Hit $130 Billion by 2035, Says TMR
Plastic Recycling | 2025-11-18 11:02:06
The governments across the globe are seen intensifying regulations around landfill bans, extended producer responsibility (EPR), and restrictions on single-use plastics.
By Paul Ploumis
SEATTLE (Scrap Monster): The global plastic recycling market is primed for substantial expansion, projected to climb to US$ 129.5 billion by 2035, up from US$ 45.5 billion in 2023, according to a newly released study by Transparency Market Research (TMR). This growth represents an impressive compound annual growth rate (CAGR) of 9.3% over the forecast period.
The report attributes the robust industry outlook to a combination of influential factors, including rising global concern over plastic waste, accelerated government regulations encouraging circular economy principles, and significant technological innovation in recycling processes.
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Across major regions, policymakers are intensifying measures such as landfill disposal restrictions, extended producer responsibility (EPR) programs, and bans on single-use plastics, creating strong momentum for recycling investments. Additionally, cutting-edge technologies like AI-enabled automated sorting, optical sorting systems, and near-infrared (NIR) spectroscopy are dramatically improving efficiency and recovery rates while lowering processing costs.
According to the TMR analysis, rapid expansion of recycling infrastructure and increased funding support from both public and private sectors are further stimulating market growth.
The report reiterates the environmental and economic benefits of recycling plastic, noting that recycling 1,000 kg of plastic can conserve 685 gallons of oil, 5,800 kWh of energy, and more than 30 cubic yards of landfill space. Reduced reliance on virgin materials and lower carbon emissions continue to reinforce the shift toward sustainable material cycles.
As industries, governments, and consumers increasingly prioritize sustainability, researchers expect the plastic recycling sector to play a critical role in future waste management and resource circularity strategies.
POLL
How important is government regulation in accelerating plastic recycling growth?
Frequently Asked Questions
- What is the projected value of the global plastic recycling market by 2035?
It is forecast to reach US$ 129.5 billion, up from US$ 45.5 billion in 2023.
- What key factors are driving the rapid growth?
Strong environmental regulations, rising awareness of plastic pollution, circular economy strategies, and advanced recycling technologies.
- How does plastic recycling support sustainability?
Recycling 1,000 kg of plastic saves 685 gallons of oil, 5,800 kWh of electricity, and more than 30 cubic yards of landfill space.
