The India Plastic Recycling Market stood at USD 520.68 million in 2022 and is expected to grow at a CAGR of 7.58% during the forecast period. Development in various industries such as packaging, and automotive, and policies and regulations by the government are driving the market. This can be attributed to the increasing environmental awareness and viable applicability of the products derived from plastic waste. Although this sector is mostly managed by unorganized local players, the Government of India has enforced plastic waste management rules that prohibit the use of single-use plastics that have low utility and high littering potential.
Nowadays, environmental protection has become India’s topmost priority which paves the path to design and implement methods to manage plastic waste effectively to minimize the pollution generated through non-decomposable plastics. To curb the negative impact of plastics on the environment, several major steps have been taken by the government and local players who are putting their efforts into making this country and planet Earth pollution-free. Additionally, many fashion brands have recently taken charge of the situation and begun recycling PET plastic bottles into garments which makes this one of the significant ways to reduce waste generation making the country more environmentally friendly. Government initiatives, public awareness, and emerging ventures across the regions of India are collectively expected to foster market growth during the forecast period.
Growing Environmental Consciousness
Growing environmental awareness and public concern over the negative consequences of plastic waste are the main factors propelling the recycled plastic industry in India. Plastic is widely used in many end-use sectors, further fueling market growth in the nation due to fast industrialization, a rising population, and ongoing product advancements. Additionally, the Government of India (GoI) is enacting laws and launching recycling initiatives to reduce trash production and promote environmentally friendly plastic disposables. Additionally, technological advancements like artificial intelligence (AI) to sort plastic trash and improve the quality of recycled goods are favorably impacting the market’s expansion.
Demand From the Packaging Industry
Plastics used in the packaging industry are polyethylene terephthalate (PET), high-density polyethylene (HDPE), polypropylene (PP), and low-density polyethylene (LDPE). Plastic recycling refers to the procedure of collecting and reprocessing post-industrial plastic into useful products. Some of the common types of plastics include polyethylene terephthalate (PET), high-density polyethylene (HDPE), polypropylene (PP), and low-density polyethylene (LDPE). The generated waste goes through five stages, namely, sorting, washing, shredding, identification and classification, and extruding. Plastic recycling aims to reduce plastic pollution, minimize landfill dependence, conserve resources, and prevent greenhouse gas emissions. Recycled plastic can be used again for packaging of consumer goods.Click to Download Free Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=9346
Market Segmentation
The India Plastic Recycling Market is segmented based on type, source, method, end user, region, and company distribution. Based on type, the market can be split into Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS). Based on Source the market can be divided into Bottles, Films, Fibers, and Foams. Based on the Method, the market is divided into Mechanical, Thermal, Chemical, and Landfill. Based on End User the market is split into Packaging, Building & Construction, Textile, Electrical & Electronics, and Automotive.
Market Players
Suez India Private Limited, The Shakti Plastic Industries, Gravita India Limited, Pashupati Group, Jagriti Polymers, Mittal Polygrains LLP, Parkash Plastic, Shakti Corporation, are some of the leading companies operating in the market.
AttributeDetailsRevenue in 2022USD 520.68 MillionExpected Revenue in 2028USD 795.70 MillionGrowth Rate7.58%Base Year2022Historic Period2018 – 2021Estimated Year2023Forecast Period2024 – 2028Quantitative UnitsRevenue in USD Million, Volume in Million Tonnes and CAGR for 2018-2022 and 2023-2028Report coverageRevenue forecast, Volume forecast company share, competitive landscape, growth factors, and trendsSegments covered· Type· Source· Method· RegionKey companies profiledSuez India Private Limited, The Shakti Plastic Industries, Gravita India Limited, Pashupati Group, Jagriti Polymers, Mittal Polygrains LLP, Parkash Plastic, Shakti Corporation,Customization scope10% free report customization with purchase. Addition or alteration to country, regional & segment scope.Pricing and purchase optionsAvail customized purchase options to meet your exact research needs. Explore purchase optionsDelivery FormatPDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
In this report, India Plastic Recycling Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Polyethylene (PE)
- BottlesFilmsFibersFoamsOthers
- Mechanical ThermalChemicalsLandfill
- India Plastic Recycling Market Outlook
6.1. Market Size & Forecast6.1.1. By Value & Volume6.2. Market Share & Forecast6.2.1. By Type (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene and Others)6.2.2. By Source (Bottles, Films, Fibers, Foams and Others)6.2.3. By Method (Mechanical, Thermal, Chemical and Landfill)6.2.4. By End User (Packaging, Building & Construction, Textile, Electrical & Electronics, Automotive and Others)6.2.5. By Region6.2.5.1. By State (Top 3 States)6.2.6. By Company6.3. Market Map
- West India Plastic Recycling Market Outlook
7.1. Market Size & Forecast7.1.1. By Value & Volume7.2. Market Share & Forecast7.2.1. By Type (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene and Others)7.2.2. By Source (Bottles, Films, Fibers, Foams and Others)7.2.3. By Method (Mechanical, Thermal, Chemical and Landfill)7.2.4. By End User (Packaging, Building & Construction, Textile, Electrical & Electronics, Automotive and Others)7.2.4.1. By West Region7.2.4.1.1. By State (Top 3 States)
- South India Plastic Recycling Market Outlook
8.1. Market Size & Forecast8.1.1. By Value & Volume8.2. Market Share & Forecast8.2.1. By Type (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene and Others)8.2.2. By Source (Bottles, Films, Fibers, Foams and Others)8.2.3. By Method (Mechanical, Thermal, Chemical and Landfill)8.2.4. By End User (Packaging, Building & Construction, Textile, Electrical & Electronics, Automotive and Others)8.2.5. By South Region8.2.5.1. By State (Top 3 States)
- North India Plastic Recycling Market Outlook
9.1. Market Size & Forecast9.1.1. By Value & Volume9.2. Market Share & Forecast9.2.1. By Type (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene and Others)9.2.2. By Source (Bottles, Films, Fibers, Foams and Others)9.2.3. By Method (Mechanical, Thermal, Chemical and Landfill)9.2.4. By End User (Packaging, Building & Construction, Textile, Electrical & Electronics, Automotive and Others)9.2.5. By North Region9.2.5.1. By State (Top 3 States)
- East India Plastic Recycling Market Outlook
10.1. Market Size & Forecast10.1.1. By Value & Volume10.2. Market Share & Forecast10.2.1. By Type (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene and Others)10.2.2. By Source (Bottles, Films, Fibers, Foams and Others)10.2.3. By Method (Mechanical, Thermal, Chemical and Landfill)10.2.4. By End User (Packaging, Building & Construction, Textile, Electrical & Electronics, Automotive and Others)10.2.5. By East Region10.2.5.1. By State (Top 3 States)
- Market Dynamics
11.1. Drivers11.2. Challenges
- Market Trends & DevelopmentsPolicy & Regulatory LandscapeIndia Economic Profile Competitive Landscape
15.1. Suez India Private Limited15.2. The Shakti Plastic Industries15.3. Gravita India Limited15.4. Pashupati Group15.5. Jagriti Polymers15.6. Mittal Polygrains LLP15.7. Parkash Plastic15.8. Shakti Corporation
- Strategic RecommendationsAbout us & Disclaimer