Recycled Plastic Market
North America Recycled Plastic Market Overview
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, expanding at a CAGR of 8.9% during the forecast period.
📚Download Full PDF Sample Copy of Market Report @
https://wwcw.businessmarketinsights.com/sample/BMIRE00025546
Key Market Drivers
- Expanding Packaging, Automotive, and Electrical & Electronics Sectors
- The automotive industry is a major consumer of recycled plastics, using them in components like dashboards and gearboxes due to their lightweight, corrosion-resistant, and fuel-efficient properties.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), North America’s vehicle production surged by over 23% from 16.2 million units in 2010 to 20 million units in 2019, boosting demand for recycled plastics.
- The packaging industry (food & beverages, cosmetics, consumer goods) is increasingly adopting recycled plastics for films, containers, and bottles, driven by sustainability concerns and regulatory pressures.
- Sustainability and Regulatory Push
- Growing awareness of plastic waste disposal challenges and stricter environmental regulations are accelerating the shift toward recycled plastics.
- Food-grade recycled plastics, particularly rPET (recycled polyethylene terephthalate), face supply shortages, prompting increased investments in recycling infrastructure.
- Technological Advancements and Market Expansion
- Innovations in recycling technologies and new product applications are attracting investments and expanding market opportunities.
Market Segmentation
The North America recycled plastic market is segmented by:
- Type
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Others
- Source
- Plastic Bottles
- Plastic Films
- Plastic Foams
- Plastic Fibers
- Others
- Application
- Packaging
- Textile
- Automotive
- Building & Construction
- Electrical & Electronics
- Others
- Country
- U.S.
- Canada
- Mexico
Competitive Landscape
Major 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.
Strategic Insights for Market Growth
- Focus on Untapped Segments: Companies should explore emerging applications in construction, textiles, and electronics to diversify revenue streams.
- Invest in Advanced Recycling Technologies: Enhancing food-grade plastic recycling capabilities can address supply shortages and meet rising demand.
- Leverage Regulatory Trends: Aligning with sustainability mandates and circular economy policies can strengthen market positioning.
- Regional Market Expansion: The U.S. dominates, but Canada and Mexico offer growth potential due to increasing industrial demand and regulatory support.
Future Outlook
The North America recycled plastic market is poised for steady growth, driven by sustainability trends, regulatory pressures, and technological advancements. Stakeholders must adopt data-driven strategies to capitalize on evolving opportunities and maintain a competitive edge.
By leveraging strategic investments, innovation, and regional market insights, industry players can achieve long-term success in this dynamic and expanding market.
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.
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights
Comments
0 comment