Global Recycled Plastic Market Forecast to Reach $131 Billion by 2033

SEATTLE (Scrap Monster): The global recycled plastic market is poised to record strong growth over the next decade, says a new research report.

According to Persistence Market Research, the market is expected to grow from approximately US$ 70.3 billion in 2026 to US$ 131.0 billion by 2033, registering a compound annual growth rate (CAGR) of 9.3%.

The rising demand for post-consumer recycled (PCR) materials across packaging, automotive, construction, and textile industries is expected to drive the expansion. The report notes that companies are increasingly adopting recycled plastics to reduce carbon emissions, so as to comply with mandatory regulations implemented by various governments in Europe, North America, and Asia. 

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Asia Pacific currently dominates the recycled plastic market due to rapid industrialization, expanding recycling capacity and strong packaging demand across China, India, and ASEAN nations.

PET remains the leading recycled plastic segment, accounting for nearly 40% of global demand. Also, bottles continue to represent the largest feedstock source for recycling worldwide.

The opening of a new recycled plastics production plant by Eni's chemicals subsidiary Versalis in Porto Marghera, Italy is one among the major developments in the recycled plastics market during the previous year, the report said.