Market Size of Engineering Plastic Recycling Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 12.89 Million tons |
| Market Volume (2029) | 18.10 Million tons |
| CAGR (2024 - 2029) | 7.03 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
