The recyclable plastic market is expected to grow from USD 91.03 billion in 2025 to USD 195.92 billion by 2034, with a strong annual growth rate of 8.89%. Increasing environmental awareness is driving this growth. Rising demand for a circular economy and sustainable packaging is pushing companies to innovate in recyclable plastics. Europe leads the market due to its large automotive and construction industries. Advances in recyclable technology are also boosting market demand.
Top Companies in the Recyclable Plastic Market
- Veolia Environnement
- SUEZ
- Waste Management, Inc.
- Indorama Ventures Public Co. Ltd.
- BASF SE
- LyondellBasell Industries
- Plastipak Holdings, Inc.
- Berry Global, Inc.
- ALPLA Group
- Dow Inc.
- Covestro AG
- Neste
- Unilever (PCR initiatives)
- MBA Polymers
- Loop Industries
- Green Dot Bioplastics
- PureCycle Technologies
- PETCO (South Africa)
- CarbonLite
- Envision Plastics
Latest Announcements by Industry Leaders
- In March 2025, Resynergi CEO Brian Bauer expressed, “The commercial offering of our Resynergi Modules is a crucial milestone in the viability, speed, and impact of a circular future for plastic. We’re proud to have Lummus Technology as our trusted partner to bring our Resynergi Modules to market and make advanced recycling not only possible and profitable but friendly, safe, and clean for local municipalities.”
New Advancements in the Market
- In May 2025, Toyoda Gosei Co., Ltd. announced the development of a new technology to recycle high-quality plastic from end-of-life vehicles (ELV) in order to meet the growing demand for recycled plastic in the automotive industry against strengthened environmental regulations. This technology will contribute to a decarbonized, circular economy through its use in various vehicle models, starting with the Toyota Camry.
- In March 2025, Agilyx announced the launch of Plastyx Ltd. in collaboration with Plastic Energy founder Carlos Monreal, designed to source and supply feedstock for Europe’s advanced plastic recycling market.
