New Report: Global Recycled Plastic Market Forecast to Double by 2031
Plastic Recycling | 2026-01-07 11:42:44
Regionally, Asia Pacific dominates the global recycled plastic market, accounting for more than 58% of total demand.
By Paul Ploumis
SEATTLE (Scrap Monster): The global recycled plastic market was valued at US$48.6 billion in 2022 and is projected to reach US$95.5 billion by 2031, expanding at a compound annual growth rate of 8.9% during the 2024–2031 forecast period.
Market growth is being driven by rising environmental concerns, escalating plastic waste generation, and stricter government regulations encouraging recycling and circular economy adoption worldwide.
Demand for sustainable packaging across food, beverage, and consumer goods sectors continues to accelerate, while increased use of recycled plastics in automotive, construction, electronics, and textiles is further supporting expansion. Technological advancements in mechanical and chemical recycling, improved sorting systems, and better collection infrastructure are also making high quality recycled plastics more accessible and cost effective. Strong corporate sustainability commitments remain a key catalyst.
Regionally, Asia Pacific dominates the global recycled plastic market, accounting for more than 58% of total demand, and is expected to register the fastest growth due to rapid industrialization in China, India, and Japan. North America holds an estimated 26.8% share, supported by advanced recycling infrastructure and sustainability initiatives. Europe ranks second, benefiting from EU circular economy policies and adoption of materials.
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Which factor will most influence recycled plastic market growth in the next decade?
Frequently Asked Questions
- What is driving growth in the recycled plastic market?
Environmental concerns, stricter recycling regulations, rising plastic waste, demand for sustainable packaging, and technological advances in recycling.
- Which regions dominate recycled plastic demand?
Asia Pacific leads with over 58% of demand, followed by Europe and North America (26.8%).
- How is technology supporting the market?
Mechanical and chemical recycling, improved sorting systems, and better collection infrastructure make high-quality recycled plastics more accessible and cost-effective.
