Plastic Recycling Market to Hit USD 60.2 Bn by 2031

SEATTLE (Scrap Monster): The Plastic Recycling Market research study provides critical market data, such as growth-influencing factors, roadblocks, and opportunities and strategies for overcoming them. The study also includes industry data, such as market value, share, CAGR, size, and so on, to make market research easier for new entrants.

The research also examines the economy, society, law, and the environment. The global Plastic Recycling Market research report utilizes both primary and secondary data sources. Government laws, market circumstances, competitive levels, historical data, market status, anticipated changes in linked firms, market volatility, and prospects are just a few of the industry-affecting elements studied during the research process.

Plastic Recycling Market reached USD 28.3 billion in 2022 and is expected to reach USD 60.2 billion by 2031, growing with a CAGR of 8.9% during the forecast period 2024-2031.

The list of Key Players Profiled in the study includes:- Plastipak industries Inc., CarbonLITE Industries, HUD Group, Plastima, Iavglobal Co., LTD., Nam Phong Industry, KW Plastics, Custom Polymers, MBA Polymers Inc. and Wellpine Plastic Industrial Co.,Ltd.

United States: Recent Industry Developments

-In August 2025, Waste Management launched an advanced plastic recycling facility in Texas using AI-powered sorting and chemical recycling technologies. The plant aims to increase recycled output and reduce landfill waste.

-In July 2025, Nestlé USA partnered with local recyclers to implement closed-loop PET recycling for beverage packaging. The initiative supports sustainability goals and promotes circular economy practices.

-In June 2025, Loop Industries expanded production of recycled PET plastics for U.S. consumer goods manufacturers. The process converts waste plastics into high-purity materials suitable for packaging and textiles.

Courtesy: www.openpr.com