The global post-consumer recycled plastics market size is projected to reach USD 16.7 billion by the year 2027, advancing at a CAGR of 10.6% over this period, as per an expansive report by Grand View Research, Inc. The continued global focus on environment degradation and the sustained efforts to slow down this phenomenon are expected to result in continued growth in demand for post-consumer recycled plastics. Also known as PCR plastics, these materials are prepared from everyday content that is recycled, such as aluminum, paper, cardboard boxes, and plastic bottles. Over the years, there has been a steady rise in the number of recycling programs and initiatives on every level, with consumers being provided various incentives for participation. Such organizations collect the afore-mentioned recyclable items and ship them to recycling units or facilities so that they can be sorted into bales, in terms of the material. These bales are then melted or ground into small pellets, from which new items are molded. These materials, along with recyclable packaging and compostable packaging, are all part of the sustainable packaging environment, although they differ in their processing technique and application.
The rapid advancements being made with regards to urbanization and industrialization, particularly in developing and underdeveloped economies, has led to several legitimate concerns for conserving the environment. Furthermore, the manufacturing of plastic resins has witnessed widespread adoption across the globe, on account of its low-cost nature. As such, the continued focus on reduction of carbon footprint in the manufacturing of plastic resin are expected to drive the advancement of the PCR plastics market over the coming years. The demand is poised to grow majorly in the packaging application, as well as various major industries such as electrical and electronics, food and beverages, automotive, and textiles. Furthermore, brands across the globe are becoming more conscious in terms of portraying an eco-friendly image to consumers, thus leading them to integrate PCR plastic packaging in their overall operations. Brands such as Palmolive and REBBL have understood the importance of supporting a circular economy, and adopted PCR packaging. Such developments are expected to result in the positive growth of the industry.
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Post-consumer Recycled Plastics Market Report Highlights
• Post-consumer recycled plastics are an excellent packaging option for many manufacturers, in areas such as confectioneries, baked goods, pharmaceuticals, pet food, and sports nutrition; the PCR films can be conveniently developed into rollstock, lay flat pouches, and stand-up pouches, and this type of packaging also matches the quality of its regular flexible counterpart
• According to data collected by the US EPA, in 2018, 29.1% of PET plastic bottles and jars were recycled, while this figure stood at 29.3% for HDPE plastic natural bottles. These numbers were comparatively lower than other forms of material being recycled, which is expected to result in better growth potential in the coming years in terms of recycling
• Brands have become much more aware regarding the use of recycled plastic; however, much more needs to be done. According to the first progress report released by the Ellen MacArthur Foundation for the New Plastics Economy Global Commitment, Coca-Cola led in terms of use of post-consumer plastic content in 9% of their packaging, followed by PepsiCo (3%) and Nestle (2%). This points to expectations of much more urgency in this aspect in coming years
• In terms of source, the post-consumer recycled plastics market is divided into bottled and non-bottled rigid segment, with the former expected to expand at the highest CAGR through 2027. This has been attributed to the rising demand for plastic bottles in the packaging of sanitizers, beverages, and cosmetics, among other products
• Post-consumer recycled plastics come in a number of types, which include polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), polyurethane (PU), polystyrene, and polyvinyl chloride (PVC), among others. of these, polyethylene accounts for a higher market share, as its various properties such as resistance to various chemicals and acids make it a favorite in a number of end-use industries
• Europe and North America are anticipated to show promising growth in the PCR plastics industry, and catch up to the Asia Pacific market. Landfill bans and high landfill taxes in these regions have made plastic recycling a more appealing and convenient aspect for consumers and businesses, which has encouraged the growth of the overall industry
• The COVID-19 pandemic saw a surge in the use of single-use plastic products, which are very economical, as face masks, face shields, and packaged items saw a drastic growth in sales. As such, there was an unviable generation of plastic waste, a situation which the recycling industry found difficult to resolve. However, the post-pandemic period is expected to witness positive growth of the PCR plastics industry, as the recycling sector gets back on track and has a better handle on the plastic waste situation
• Major brands have made significant investments in promoting post-consumer recycled plastics in recent years. For instance, in August 2021, Unilvever filed a patent for a sustainable black packaging for its personal care, cosmetics, and home care & food products. The packaging has been created with more than 95% post-consumer recycled materials, specifically recycled HDPE
• In June 2021, Biffa completed the acquisition of the Grangemouth facility, which is Scotland’s only postconsumer plastics recycling facility, from Green Circle Polymers Ltd (GCP). This is one of the largest such facilities in the UK, processing around 50,000 tons of plastic such as mixed plastic bottles and plastic tubs annually for creating new recycled plastic material
• In November 2019, Reckitt Benckiser began a joint partnership with Veolia to accelerate development of the circular plastics economy. The companies have worked together since 2017 for increasing the use of PCR plastic in RB’s packaging. The development is expected to aid RB’s pledge of making its entire plastic packaging recyclable and contain at least 25% recycled content by 2025
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