Latest report: Global recycled plastics market worth $43.5 billion in 2026!

According to the latest report released by MarketsandMarketstm "Global Recycled Plastics Forecast 2026 - by Type (PET, PE, PP, PVC, PS), Source (Bottle, Film, Fiber, Foam), Use (Packaging, Textile, Building and Construction, Automotive, Electrical and Electronics) and Regional Classification, the global recycled plastics market size is expected to grow from USD 27.
9 billion in 2021 to USD 43.
5 billion in 2026, at a CAGR of 9.
3% during the forecast period 
.
There are two main reasons for such a substantial increase.
First, people realize that recycled plastics have environmental advantages compared to virgin plastics, leading to market growth; second, recycled plastics consume less energy than virgin plastics, further driving the demand for recycled plastics
.

PET: the most productive recycled variety

Because PET plastic is 100% recyclable, easy to recycle, and the cost of recycling is low, the report predicts that by 2026, PET will become the largest recycled plastic variety
.

PET is the most produced recycled plastic in the world and will continue to be the most in-demand recycled plastic
.
PET can be recycled and recycled repeatedly to produce new PET products
.

Waste PET can also be broken down into monomers by chemical recycling methods, and converted into PET resin through purification
.
It can be used to produce many products such as containers, low carbon, textiles, protective packaging, industrial strapping, auto parts and building materials
.
PET is the most recycled plastic in the world, limited only by the amount that can be recycled
.

Plastic Bottles: The Largest and Fastest Growing Recycled Source

Plastic bottles will be the largest and fastest growing source of recycled plastic
.
Post-consumer PET is the most commonly recycled plastic due to its high recycling viability and its ability to be collected and sorted well
.

Textiles: the most important use

Textile is one of the main uses of recycled plastics, and recycled PET is the most used in textile applications
.

In the past five years, in order to reduce plastic pollution, there has been a significant increase in large clothing companies, enterprises, etc.
using recycled plastic in fabrics
.
Clothes made from recycled plastic are indistinguishable from ordinary clothes in terms of quality and texture, so the use of recycled plastic in textile applications has increased significantly
.

Asia Pacific: the world's largest market share

Asia Pacific is the world's largest recycled plastics market and holds the largest market share
.
China is the most important emerging market
.

Due to China's ban on importing waste plastics, which has affected the global pattern of recycled plastics, many developed countries have to find new "exports" for their increasingly accumulated garbage
.
While the destination of this waste has been other emerging countries such as India, Pakistan or Southeast Asia, its logistics costs are much higher than China
.

The report also expects North America to be the fastest growing market for recycled plastics
.