North America Plastic Recycling Market Trends, Cost Structure Analysis, and Forecasts 2028

North America Plastic Recycling Industry Overview

The North America plastic recycling market size was valued at USD 2.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.1% from 2021 to 2028.

Changing consumer behaviour towards sustainability is driving the market in North America. Increasing concerns related to plastic pollution, harmful emissions from the use of petrochemicals, and fluctuating crude oil prices have been driving the demand for plastic recycling. Increasing use of recycled plastics in several industries such as textiles, automotive, packaging, and electrical and electronics, and building and construction is anticipated to boost the demand for plastic recycling in the U.S. and Canada.

Rising concerns over the use of plastics, increasing demand for alternatives to conventional plastics have been observed in the market. End-use industries in the market are shifting their focus toward the use of recycled plastics owing to the reduced carbon footprint associated with the manufacturing process of recycled plastics as compared to virgin plastics. Companies are continuously developing product lines using recycled materials to address the concerns regarding the toxic effects of plastic waste. Lacerta Group, Inc., Reynolds Packaging, Rohrer Corporation, NIKE, Inc., Rothy’s, Inc., and Hamilton Perkins Collection are some of the companies using recycled plastics in the region.

Gather more insights about the market drivers, restrains and growth of the North America Plastic Recycling Market

U.S. plastic recycling market size, by product, 2017 - 2028 (USD Billion)

Several large, small, and medium-scale businesses have committed to using recycled or sustainably sourced materials for a specific period. Since the outbreak of the COVID-19 pandemic, the shift has gained pace as it has severely affected the buying behavior of consumers and their preference while choosing the products and services. Consumers are now more conscious about the environmental impact, recyclability, and decomposition time of plastic products in landfills. This is likely to compel customers to buy products made from recycled plastics over those made from conventional plastics.

Increasing government investment in advanced plastics recycling technologies is anticipated to create lucrative opportunities for market players in North America. For instance, in October 2020, the U.S. Department of Energy (DOE) announced the funding of USD 27 million for 12 projects that are likely to support the development of advanced plastics recycling technologies. As part of DOE’s Plastics Innovation Challenge, these projects will help to improve the existing recycling processes that break plastics into chemical building blocks, which can further be used to make new products. These new projects are expected to support the objective through the development of energy-efficient recycling technology and help to reduce plastic waste in the environment in the coming years.

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

  • Plastic Waste Management Market: The global plastic waste management market size to be valued at USD 42.2 billion by 2027 and is expected to grow at a compound annual growth rate (CAGR) of 3.1% during the forecast period.
  • Automotive Adhesives Market: The global automotive adhesives market size to be valued at USD 6.5 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% during the forecast period. 

Market Share Insights

  • December 2020: Agilyx and Braskem announced their collaboration to examine an efficient pathway to produce polypropylene (PP) using difficult-to-recycle mixed waste plastic utilizing the former’s advanced recycling technology.
  • February 2020: Carbonlite Inc. planned to construct its fourth PET recycling plant near Orlando, Florida in the U.S. The plant is expected to be functional by the end of 2021, with a recycling capacity of 40,000 tons per annum.

Key Companies profiled:

Some of the prominent players in the North America plastic recycling market include:

  • Agilyx
  • Brightmark LLC
  • MBA Polymers Inc.
  • UltrePET LLC
  • KW Plastics

Order a free sample PDF of the North America Plastic Recycling Market Intelligence Study, published by Grand View Research.

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