PET is estimated to lead the recycled plastics market by type in terms of value between 2021 and 2026

It is estimated that the recycled plastics market could grow from the 27.9 billion dollars registered in 2021 to 43.5 billion in 2026, with an annual growth rate of 9.3% between the reference period.

According to the “Recycled Plastics Market by Type, Source, End-Use Industry, and Region – Global Forecast to 2026” report compiled by Reportlinker.com, one of the key factors driving the growth of the recycled plastics market includes the growing awareness of energy saving and government responses.

Additionally, governments around the world are concerned about plastic waste, especially single-use packaging waste, and are implementing regulations to minimize environmental waste and improve waste management processes.

PET: at the forefront of the recycled plastics market

PET is estimated to lead the recycled plastics market, by type in terms of value during the forecast period. By type, PET is estimated to be the largest segment in the recycled plastics market. It is mainly used in fashion products such as fleece clothing, backpacks, and rugs.

It is important to note that PET can be repeatedly recovered and recycled and re-melted to produce new PET products. It can also be chemically broken down into its constituent raw materials, which can then be purified and converted into a new PET resin.

The packaging end-use industry is also expected to hold the largest market share during the forecast period.

By end-use industry, packaging is estimated to be the largest segment in the recycled plastics market. This industry mainly uses PET and HDPE resins to package products.

The Asia Pacific recycled plastics market is projected to be the largest market, by region during the forecast period, in terms of value.