SEATTLE (Recycling Monster): The latest research report unveiled by 360 Research Reports indicate that plastic recycling market across the globe is poised to register significant growth during the period from 2023 to 2030.

According to the report, the global plastic recycling market is forecast to touch US$ 64,590 million by 2028 with a CAGR of 5.9% during the projected period from 2023 to 2030. It must be noted that the market was estimated much lower at US$ 43,040 million in 2021, mainly due to Covid-19 pandemic.

The report cites China as the world’s largest market for plastic recycling, accounting for approximately 40% share of the global market. The other leading markets are North America and Europe, both with an average market share of around 35% each. The key market players include Indorama Ventures, Far Eastern New Century, MBA Polymers and DAK Americas among others.

Based on product types, the report categorizes the market into PET, PP, HDPE, LDPE and Others. Region-wise, the plastic recycling market is segmented into North America, Europe, Asia-Pacific, South America and Middle East & Africa.

The research analyses the global trends in the plastic recycling market, provides an estimation of estimated demand for different types of products in plastic recycling and highlights the upcoming industry applications and market trends.