Report Overview

United States Plastic Recycling Market – Industry Trends & Forecast Report, 2030

United States Plastic Recycling Market size was estimated at USD 2.32 billion in 2023. During the forecast period between 2024 and 2030, United States Plastic Recycling Market size is projected to grow at a CAGR of 7.9% reaching a value of USD 3.9 billion by 2030. Prominent drivers of the market include the rising concerns about plastic pollution, harmful emissions from petrochemicals, and fluctuating crude oil prices. The growing use of recycled plastics across industries such as construction, automotive, packaging, and electronics is expected to further drive demand. Recycled plastics offer a lower carbon footprint than virgin plastics, encouraging end-use sectors to prioritize them. Major companies like Coca-Cola, Nestlé, and Veolia are incorporating recycled materials into packaging, with Coca-Cola using 50% recycled PET in its bottles. Increasing public and private investments in advanced recycling technologies, such as the DOE’s Plastics Innovation Challenge, are set to enhance recycling processes and reduce plastic waste, creating profitable opportunities for market participants during the forecast period.

Plastic Recycling – Overview

Plastic recycling is the process of recovering scrap or waste plastic and repurpose it into functional and usable products. The process focuses on reducing excessive levels of pollution caused by plastic, while reducing the burden on pure materials used to make new plastic. Plastic recycling helps in conserving resources by diverting plastic from landfills and other undesirable places, such as the ocean. End-of-life plastic management is complex without recycling. More significant public understanding and the efficacy of recycling operations have resulted in higher recycling rates. Continuous acquisition in research and development will support operational efficiency.

United States Plastic Recycling Market

Growth Drivers

Innovations in Recycling Technologies

Technological innovations in recycling methods are driving the growth of the plastic recycling market by enhancing the efficiency, cost-effectiveness, and quality of recycling processes. Advancements such as improved sorting technologies, more effective mechanical and chemical reuse techniques, and the rise of closed-loop recycling systems have expanded the range of plastics that can be successfully recycled, including previously challenging materials. Closed-loop systems, where plastics are continuously transformed into new products without quality loss, are gaining popularity and are instrumental in boosting the availability of recycled plastics. These advancements not only increase recycling capacity but also attract significant investments from stakeholders looking to capitalize on the growing demand for sustainable and eco-friendly products. By leveraging these innovations, companies can reduce their carbon footprint, meet rising consumer expectations, and reinforce their commitment to sustainability.

Challenges

Inconsistent Recycling Infrastructure and Collection Systems

The inconsistent recycling infrastructure and collection systems across various states and municipalities pose a significant challenge to United States Plastic Recycling Market. While some regions have well-established programs, many lack the necessary infrastructure to efficiently collect, sort, and process plastic waste. This fragmentation results in lower recycling rates and makes it difficult to achieve economies of scale in recycling operations. Also, the absence of standardized collection practices and varying regulations on acceptable plastics create confusion for consumers, reducing participation in recycling programs. To improve the effectiveness and efficiency of plastic recycling, it is crucial to address these infrastructure gaps and establish uniform recycling procedures nationwide.

Impact of Escalating Geopolitical Tensions on United States Plastic Recycling Market

Escalating geopolitical tensions among countries across regions could have a significant impact on the growth of United States Plastic Recycling Market. Disruptions in global supply chains and trade restrictions may affect the availability of raw materials and recycled plastics, leading to higher costs and reduced access to essential recycling technologies. Furthermore, strained international relations could slow down collaborative efforts to improve global recycling standards and practices. These tensions may also shift policy priorities, diverting government focus and funding away from sustainability initiatives. As a result, the development of advanced recycling infrastructure and the adoption of eco-friendly practices could be hindered, potentially slowing the growth of United States Plastic Recycling Market.

United States Plastic Recycling Market

Segmental Coverage

United States Plastic Recycling Market – By Product

By product, United States Plastic Recycling Market is divided into Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene, and other segments. The polyethylene terephthalate segment holds the largest share of United States Plastic Recycling Market by product. The ease of collecting recycled PET, especially from bottles, is expected to drive significant growth during the forecast period. PET is commonly used in soft drink and food containers, as well as in medical applications like vascular grafts and sutures. The increasing demand for PET in these applications is contributing to the rise in PET waste, which is expected to further boost the growth of PET in plastic recycling.

United States Plastic Recycling Market – By Process

By process, United States Plastic Recycling Market is bifurcated into Chemical Recycling and Mechanical Recycling segments. The mechanical recycling segment holds a higher share in United States Plastic Recycling Market by process. The process effectively reduces the company's carbon footprint and produces recycled polymers with minimal emissions. It involves the processing of plastic waste from residential and commercial sources while preserving the molecular structure of the material. In this method, plastic is physically crushed and remelted into granules, which are then used in the production of new products across various industries, including automotive, textiles, electrical and electronics, packaging, and construction.

United States Plastic Recycling Market – By End User

On the basis of end user, United States Plastic Recycling Market divided into Building & Construction, Packaging, Electrical & Electronics, Textiles, Automotive, and other segments.

Competitive Landscape

Major players operating in United States Plastic Recycling Market include Agilyx, Brightmark LLC, Plastipak Holdings, Inc., Custom Polymers, MBA Polymers Inc., Freepoint Eco-Systems LLC, Industrial Plastic Recycling Inc., KW Plastics, Seraphim Plastics, and Carbonlite Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Product

• Polyethylene

• Polyethylene Terephthalate

• Polypropylene

• Polyvinyl Chloride

• Polystyrene

• Others

By Process

• Chemical Recycling

• Mechanical Recycling

By End User

• Building & Construction

• Packaging

• Electrical & Electronics

• Textiles

• Automotive

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3.  United States Plastic Recycling Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing awareness of plastic pollution
         2. Governments and municipalities stricter regulations to reduce plastic waste
         3. Innovations in recycling technologies
      2. Restraints
         1. High concern regarding contamination.
         2. Inconsistent recycling infrastructure and collection systems
      3. Opportunities
         1. Increasing demand for recycled plastics in various industries
         2. Government policies and incentives to encourage investment in plastic recycling infrastructure and technologies
         3. Increasing consumer awareness of plastic waste and environmental hazards
      4. Challenges
         1. Limited infrastructure for plastic recycling
         2. Competition from other countries in the global plastic recycling market
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. United States Plastic Recycling Market: Marketing Strategies
5. United States Plastic Recycling Market: Pricing Analysis
6. United States Plastic Recycling Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share and Forecast
      1. By Product
         1. Polyethylene
         2. Polyethylene Terephthalate
         3. Polypropylene
         4. Polyvinyl Chloride
         5. Polystyrene
         6. Others
      2. By Process
         1. Chemical Recycling
         2. Mechanical Recycling
      3. By End User
         1. Building & Construction
         2. Packaging
         3. Electrical & Electronics
         4. Textiles
         5. Automotive
         6. Others
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. United States Plastic Recycling Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on United States Plastic Recycling Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Agilyx
   2. Brightmark LLC
   3. Plastipak Holdings, Inc.
   4. Custom Polymers
   5. MBA Polymers Inc.
   6. Freepoint Eco-Systems LLC
   7. Industrial Plastic Recycling Inc.
   8. KW Plastics
   9. Seraphim Plastics
   10. Carbonlite Inc,
   11. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2.  Quantitative Research
    3. Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       United States Plastic Recycling Market Segmentation

Figure 2       United States Plastic Recycling Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       United States Plastic Recycling Market Size, By Value (USD Billion), 2019–2030

Figure 4       United States Plastic Recycling Market Size, By Volume (Million Tons), 2019–2030

Figure 5       United States Plastic Recycling Market Share, By Product, By Value (USD Billion), 2019–2030

Figure 6       United States Plastic Recycling Market Share, By Product, By Volume (Million Tons), 2019–2030

Figure 7       United States Plastic Recycling Market Share, By Process, By Value (USD Billion), 2019–2030

Figure 8       United States Plastic Recycling Market Share, By Process, By Volume (Million Tons), 2019–2030

Figure 9       United States Plastic Recycling Market Share, By End User, By Value (USD Billion), 2019–2030

Figure 10     United States Plastic Recycling Market Share, By End User, By Volume (Million Tons), 2019–2030

List of Tables

Table 1        United States Plastic Recycling Market Share, By Product, By Value (USD Billion), 2019–2030

Table 2        United States Plastic Recycling Market Share, By Product, By Volume (Million Tons), 2019–2030

Table 3        United States Plastic Recycling Market Share, By Process, By Value (USD Billion), 2019–2030

Table 4        United States Plastic Recycling Market Share, By Process, By Volume (Million Tons), 2019–2030

Table 5        United States Plastic Recycling Market Share, By End User, By Value (USD Billion), 2019–2030

Table 6        United States Plastic Recycling Market Share, By End User, By Volume (Million Tons), 2019–2030

Table 7      Agilyx Company Overview

Table 8      Agilyx Financial Overview

Table 9      Brightmark LLC Company Overview

Table 10    Brightmark LLC Financial Overview

Table 11    Plastipak Holdings, Inc. Company Overview

Table 12    Plastipak Holdings, Inc. Financial Overview

Table 13    Custom Polymers Company Overview

Table 14    Custom Polymers Financial Overview

Table 15    MBA Polymers Inc. Company Overview

Table 16    MBA Polymers Inc. Financial Overview

Table 17    Freepoint Eco-Systems LLC Company Overview

Table 18    Freepoint Eco-Systems LLC Financial Overview

Table 19    Industrial Plastic Recycling Inc. Company Overview

Table 20    Industrial Plastic Recycling Inc. Financial Overview

Table 21    KW Plastics Company Overview

Table 22    KW Plastics Financial Overview

Table 23    Seraphim Plastics Company Overview

Table 24    Seraphim Plastics Financial Overview

Table 25    Carbonlite Inc. Company Overview

Table 26    Carbonlite Inc. Financial Overview