Engineering Plastic Recycling Market Size (2024 - 2029)

The engineering plastic recycling market is projected to experience significant growth over the forecast period, driven by an increasing focus on sustainability and the rising use of recycled materials. Despite challenges such as the difficulty in collecting and sorting mixed plastics, advancements in recycling technologies present promising opportunities for market expansion. The Asia-Pacific region currently holds the largest market share, while Europe is anticipated to exhibit the highest growth rate. The market's recovery from the setbacks caused by the COVID-19 pandemic further underscores its potential for future growth.

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Market Size of Engineering Plastic Recycling Industry

Engineering Plastic Recycling Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 7.03 %
Fastest Growing Market Europe
Largest Market Asia Pacific
Market Concentration Low

Major Players

Engineering Plastic Recycling Market Major Players

*Disclaimer: Major Players sorted in no particular order

Plastic Recycling Market Analysis

The Engineering Plastic Recycling Market size is estimated at 12.89 Million tons in 2024, and is expected to reach 18.10 Million tons by 2029, growing at a CAGR of 7.03% during the forecast period (2024-2029).

The COVID-19 pandemic harmed the engineering plastic recycling sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.

  • The major factor driving the growth of the market studied is the growing emphasis on sustainability among consumers and packaging products and the increasing use of recycled polyester.
  • On the flip side, difficulty in collecting and sorting mixed plastic is expected to hinder the market's growth.
  • Innovations in recycling technologies for the automatic processing and sorting of plastics are expected to provide ample opportunities in the global engineering plastic recycling market.
  • The Asia-Pacific region accounted for the largest share; however, Europe is expected to register the highest CAGR during the forecast period.

Plastic Recycling Industry Segmentation

Engineering plastic recycling is processing waste plastic material into useful products. Engineering plastic is mainly recovered from computers, electronics, and automobiles and can be recycled using chemical or mechanical processes. The engineering plastic recycling market report includes segmentation by plastic type, end-user industry, and geography. The market is segmented by plastic type into polycarbonate, polyethylene terephthalate (PET), styrene copolymers (ABS and SAN), polyamide, and other engineering plastics. The segment of the end-user industry includes packaging, industrial yarn, automotive, electrical, electronics, and other end-user industries. The report also covers the market size and forecasts for the engineering plastics recycling market in 12 countries across major regions. The market sizing and forecasts have been done for each segment based on volume (Tons).

Plastic Type
Polycarbonate
Polyethylene Terephthalate (PET)
Styrene Copolymers (ABS and SAN)
Polyamide
Other Engineering Plastics
End-user Industry
Packaging
Industrial Yarn
Electrical and Electronics
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Rest of the World
South America
Middle-East and Africa
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Engineering Plastic Recycling Market Size Summary

The engineering plastic recycling market is poised for significant growth, driven by increasing consumer and industry focus on sustainability and the rising use of recycled polyester. Despite setbacks caused by the COVID-19 pandemic, which disrupted production and supply chains, the market has shown resilience and is expected to expand steadily over the forecast period. Challenges such as the difficulty in collecting and sorting mixed plastics present hurdles, but advancements in recycling technologies offer promising opportunities for market players. The Asia-Pacific region currently leads the market, with Europe anticipated to experience the highest growth rate, reflecting the global shift towards more sustainable packaging solutions.

The demand for recycled plastics, particularly PET, is bolstered by its widespread use in packaging applications due to its favorable properties, such as being food-safe, strong, and lightweight. Major companies are increasingly committing to using recycled PET to reduce their carbon footprints, aligning with broader environmental goals. The packaging industry, a significant consumer of recycled plastics, is expected to continue driving market growth, supported by initiatives in waste management and recycling. The Asia-Pacific region, with its robust production and recycling activities, particularly in China and India, plays a crucial role in the market's expansion. The presence of key players and strategic partnerships further enhances the market's competitive landscape, facilitating the growth of engineering plastic recycling globally.

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Engineering Plastic Recycling Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Emphasis on Sustainability among Consumer and Packaging Products

      2. 1.1.2 Increasing Use of Recycled Polyester

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Difficulty in Collecting and Sorting Mixed Plastic

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Plastic Type

      1. 2.1.1 Polycarbonate

      2. 2.1.2 Polyethylene Terephthalate (PET)

      3. 2.1.3 Styrene Copolymers (ABS and SAN)

      4. 2.1.4 Polyamide

      5. 2.1.5 Other Engineering Plastics

    2. 2.2 End-user Industry

      1. 2.2.1 Packaging

      2. 2.2.2 Industrial Yarn

      3. 2.2.3 Electrical and Electronics

      4. 2.2.4 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 Rest of the World

        1. 2.3.4.1 South America

        2. 2.3.4.2 Middle-East and Africa

Engineering Plastic Recycling Market Size FAQs

The Engineering Plastic Recycling Market size is expected to reach 12.89 million tons in 2024 and grow at a CAGR of 7.03% to reach 18.10 million tons by 2029.

In 2024, the Engineering Plastic Recycling Market size is expected to reach 12.89 million tons.

Plastic Recycling Market Report Snapshots

Plastic Recycling Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)