What is the market outlook for pcr recycled plastics?

The market outlook for PCR recycled plastics appears to be very positive, mainly due to the rising global awareness about environmental protection and the quest for sustainable development. The following is a detailed analysis of the PCR recycled plastics market outlook:

Expansion of Market Scale:

Currently, the scale of China's recycled plastics market is expanding. According to the data of CRRP Industrial Research Institute, the market size of China recycled plastics market has reached 23.555 billion yuan in 2024, which is a significant growth compared with the previous years.

Globally, the market size of PCR recycled plastics also continues to grow.QYResearch's report predicts that the global post-consumer recycled (PCR) resin market will reach $49.24 billion by 2029, with a compound annual growth rate (CAGR) of 4.5% in the coming years.

Increased environmental awareness:

With the global awareness of environmental protection, it has become a global consensus to reduce the pollution of plastic waste to the environment.PCR recycled plastics, as a solution, reduces the dependence on natural resources and reduces environmental pollution, and therefore receives more and more attention and importance.

Promotion of technological innovation:

With the continuous progress of science and technology, the manufacturing technology of PCR recycled plastics is also constantly innovating. Through pretreatment, melt granulation, modification and other physical or chemical methods, PCR recycled plastics can be re-made into high-quality plastic raw materials and used in a variety of applications. Such technological innovations will drive the further development of the PCR recycled plastics market.

Strengthening of Policy Support:

The Chinese government has introduced a series of policies to support the development of the recycled plastics industry, which will provide a strong guarantee for the development of the PCR recycled plastics market.

Expansion of application areas:

The application areas of PCR recycled plastics are expanding. Traditional applications include packaging, construction, home appliances, etc. In recent years, PCR recycled plastics have also begun to get involved in emerging areas, such as electronics, automotive, construction, household and so on. With the continuous progress of technology and the expansion of application areas, the market demand for PCR recycled plastics will further increase.

Growth of market demand:

Globally, the demand for PCR recycled plastics also continues to grow. For example, the demand for PCR in the global packaging market was approximately 4.79 million tonnes in 2021 and is expected to reach 6.37 million tonnes by 2026, representing a compound annual growth rate (CAGR) of 5.9%.

In summary, the market prospect of PCR recycled plastic is very broad. With the improvement of environmental awareness, the promotion of technological innovation, the strengthening of policy support and the expansion of application areas, the market scale of PCR recycled plastics will be further expanded and the market demand will continue to grow.