DELRAY BEACH, Fla., July 11, 2025 /PRNewswire/ -- The report "Recycled Plastics Market by Source (Bottles, Fibers, Films, Foams), Process, Plastic Type (PET, PP, PVC, PS), Type, End Use (Packaging, Textiles, Building & Construction, Automotive, Electrical & Electronics), and Region - Global Forecast to 2032", recycled plastics market is projected to grow from USD 85.90 billion in 2025 to USD 149.25 billion by 2032, at a CAGR of 8.2% from 2024 to 2032. The increasing demand for recovered plastics to address rising levels of plastic pollution has driven the consumption of recycled plastics. Since recycled plastics conserve more energy than virgin plastics, they are used in most major end-use industries, including packaging, textiles, building and construction, automotive, and electrical and electronics.
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The fibers segment, by source, is expected to be the second-fastest growing during the forecast period.
The fibers segment, by source, accounted for the second-highest CAGR of the recycled plastics market in 2024. Fibrous materials and clothing scraps are recycled into new raw materials and are utilized across various industries, including automotive, furniture, mattresses, coarse yarn, home furnishings, and paper. Specifically, the growth of fibers in the textile sector, combined with their increasing use, significantly impacts the recycled plastics market.
Polyethylene terephthalate (PET), by plastic type, is expected to be the largest market segment during the forecast period.
The polyethylene terephthalate (PET) segment, categorized by plastic type, is expected to hold the largest share of the recycled plastics market due to its extensive applications. PET can be recovered, recycled repeatedly, and remelted to create new PET products. It is typically recycled into fashion items such as polar fleece clothing, backpacks, carpets, and applications in food & beverage, building & construction, and packaging sectors.
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Europe is the second-largest region in the recycled plastics market.
The significant factors contributing to the growth of recycled plastics in Europe include EU restrictions on single-use plastics implemented since 2019, a goal to reduce plastic pollution with a target of recycling 50% of plastic packaging by 2025, increased venture capital funding, and initiatives taken by government bodies to promote the adoption of recycled plastics across Europe.
Some of the leading players in this market include Alpek (Mexico), Biffa (UK), Cabka (Germany), Far Eastern New Century Corporation (Taiwan), Indorama Ventures (Thailand), Jayplas (UK), Loop Industries, Inc. (Canada), MBA Polymers Inc. (US), Plastipak Holdings, Inc. (US), Republic Services (US), Stericycle (US), and Veolia (France).
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