North America and Europe Lead in Post-Consumer Recycled Plastics Market Potential
The post-consumer recycled plastics market is projected to grow from USD 62.1 billion in 2023 to USD 92.6 billion by 2028 at a CAGR of 8.3%. The post-consumer recycled plastics market refers to the industry involved in the collection, processing, and reuse of plastics that have been used by consumers and then discarded as waste. These plastics are reclaimed from sources like plastic bottles, containers, packaging, and other products that have fulfilled their original purpose and are no longer needed by the consumer. The post-consumer recycled plastics market is driven by environmental concerns, as recycling these plastics helps reduce the amount of plastic waste that ends up in landfills or pollutes the environment. The recycling process typically involves sorting, cleaning, and processing the collected plastics to produce recycled plastic pellets or flakes that can be used as raw materials in the production of new plastic products.
Most manufacturers in this market are based in Europe and North America. Veolia Environnement SA (France), Suez SA (France), Waste Management, Inc. (US), Republic Services, Inc. (US), Waste Connections, Inc. (Canada), Biffa plc (UK), Clean Harbors, Inc. (US), Stericycle, Inc. (US), Remondis SE & Co. KG (Germany), DS Smith plc (UK), Plastipak Holdings Inc. (US), KW Plastics (US), MBA Polymers, Inc. (US), Jayplas (UK), and Envision Plastics Industries LLC (US) are among the leading players operating in the post-consumer recycled plastics market. These players have adopted various growth strategies to strengthen their position in the market. This includes expansions and acquisition activities further to expand their presence in the post-consumer recycled plastics market.
Veolia Environnement SA
Veolia Environnement SA provides waste management services. It operates through the following business segments: Water, Waste, and Energy Services. The Waste Services segment collects, processes, and disposes of household, trade, and industrial waste. Veolia is a global leader in plastics recycling, with 37 plants worldwide. The company produced about 476,000 metric tons of circular polymers in 2021 and has increased its global recycling capacity fivefold since 2016. It aims to reach 610,000 metric tons of recycled resins by 2023.
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Suez SA begins a new chapter in its history with its acquisition by the consortium of shareholders (Meridiam Sustainable Water & Waste Fund (39%), GIP IV Highbury Luxco (39%), and Caisse des Dépôts and CNP Assurances (19%), while employees own the remaining 3%). On January 31, 2022, Suez SA (formerly Sonate Bidco) completed the acquisition of certain activities of the former Suez group from Veolia and took control of the activities of the New Suez perimeter. The New Suez's primary activities are centered around municipal water (Water France) and waste recycling and recovery (R&R France) in France.