Recycled Plastic Market
North America Recycled Plastic Market Outlook
The North America recycled plastic market is projected to grow from US$ 9,369.99 million in 2021 to US$ 16,889.88 million by 2028, at a compound annual growth rate (CAGR) of 8.9% during the forecast period.
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Market growth is primarily driven by the expanding packaging, automotive, and electrical & electronics industries. In particular, the automotive sector is experiencing significant momentum due to rising passenger vehicle sales and increased production of new vehicles across emerging economies. Recycled plastics are increasingly being used in automotive components such as dashboards and gear housings. These materials offer several advantages—primarily their lightweight nature, which enhances fuel efficiency and reduces carbon emissions. Additionally, recycled plastic parts are corrosion-resistant, more flexible, and often safer than conventional materials.
According to the International Organization of Motor Vehicle Manufacturers (OICA), commercial and passenger vehicle production in North America grew from approximately 16.2 million units in 2010 to over 20 million units in 2019—an increase of more than 23%. This surge in automotive manufacturing is significantly boosting the demand for recycled plastics.
In parallel, the packaging industry presents lucrative opportunities for the recycled plastic market. The demand for recycled materials in industries such as food & beverages, cosmetics, and consumer goods is rising steadily. In the food & beverage sector, recycled plastics are widely used in films, bottles, and containers. As the population grows, so does the need for sustainable packaging solutions. Heightened awareness of the environmental impact of plastic waste and stringent regulations around landfill use are further propelling the demand for recycled plastics.
However, the availability of food-grade recycled plastics remains limited, especially beyond polyethylene terephthalate (PET), posing challenges for food packaging applications. This supply gap is attracting investment in advanced recycling technologies and infrastructure, helping to support market growth in this segment.
Moreover, innovations and technological advancements by key vendors are expected to attract new customers and facilitate expansion into emerging markets—further fueling growth of the recycled plastic market in North America through 2028.
North America Recycled Plastic Market: Revenue and Forecast to 2028 (US$ Million)
Market Segmentation
The North America recycled plastic market is segmented based on type, source, application, and country:
- By Type:
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Others
- By Source:
- Plastic Bottles
- Plastic Films
- Plastic Foams
- Plastic Fibers
- Others
- By Application:
- Packaging
- Textile
- Automotive
- Building & Construction
- Electrical & Electronics
- Others
- By Country:
- United States
- Canada
- Mexico
Key Companies in the Market
Leading players in the North America recycled plastic market include:
- Biffa
- Remondis SE & Co. KG
- Veolia
- Jayplas
- Alpek S.A.B. de C.V.
- Plastipak Holdings Inc.
These companies play a crucial role in driving innovation, expanding recycling infrastructure, and meeting the growing demand for sustainable plastic solutions.
Strategic Insights
The North America recycled plastic market is evolving rapidly, driven by increasing environmental awareness and demand for sustainable materials. Strategic insights into this market offer data-driven evaluations of current trends, competitive dynamics, and regional opportunities.
These insights provide stakeholders—including manufacturers, investors, and policymakers—with actionable recommendations to capitalize on emerging market segments and differentiate through innovation and sustainability.
By leveraging advanced analytics, companies can anticipate industry shifts, enhance operational efficiency, and align with regulatory standards. Adopting a forward-looking perspective is essential for long-term success in this dynamic market.
Ultimately, these strategic insights empower decision-makers to drive profitability, build resilient supply chains, and achieve their environmental and commercial objectives in North America's growing recycled plastic industry.
North America Recycled Plastic Regional Insights
The geographic scope of the North America Recycled Plastic refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights
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