Rising Government Regulations is Propelling for Recycled Plastic Companies to Augment Their Product Offerings

Recycled plastics involve a process of waste plastic materials or scrap that are processed into useful products. The rising regulations in the usage of single-use polymers and the initiatives taken by governments in Brazil, China, Europe, and India are anticipated to promote recycling.

As per a report by Fortune Business Insights™, the market for recycled plastics is projected to grow from USD 50.78 billion in 2023 to USD 88.96 billion by 2030, with a CAGR of 8.3% during the forecast period.

Fortune Business Insights™ Profiles Top 10 Key Players/Companies of Recycled Plastics

1. Veolia

The company was founded in 1853 and is headquartered in France. The company mainly operates in three main services, waste management, energy services, and water management. The company functions with 823 waste processing facilities, operates 2,716 industrial sites, and manages 4,130 drinking water production plants. It recycles various types of resins such as expanded polypropylene, expanded polyethylene, and others. Veolia generated USD 46.32 billion in 2022.

• In 2021: L’Oreal and Veolia joined forces to decrease the carbon footprint of cosmetic packaging in a circular economy approach. Veolia will supply high-quality recycled plastics for L’Oreal packaging globally. These plastics can be obtained after processing the plastic material in waste derived from consumer packaging, especially plastic bottles.

2. Plastipak Holdings, Inc.

The company was established in 1967 and is headquartered in the U.S. Plastipak Holdings is engaged in manufacturing and designing rigid plastic containers for consumer products, food, and beverages. The company recycles packaging and produces post-consumer rPET and HDPE resin; rPET resin is produced in Michigan, Dundee, Beaune, Luxembourg, France, and Hemswell, U.K. The company is in over 16 countries such as Brazil, Belgium, the U.S., China, Romania, Italy, the U.K., Morocco, Poland, Turkey, the Czech Republic, Spain, France, and Luxembourg. The company has over 1,500 patents worldwide for its manufacturing processes and packaging designs.

• In 2022: Plastipak Holdings completed an investment to expand its PET recycling capacity at its manufacturing site in Bascharage, Luxembourg. The market expansion is set to increase the capacity by 136%. The rPET produced at their main site is converted into new preforms and containers produced at the Bascharage facility, mainly serving the German and Benelux food & beverage markets.

3. SUEZ SA

The company was established in 2008 and is headquartered in France. The company generated USD 8.10 billion in 2022 from waste management industries and wastewater treatment. SUEZ SA is initially involved in the water treatment and waste management industries. The company is functional on five continents and has two waste and water management specialties.

• In 2020: SUEZ SA declared the inauguration of the recycling plant ‘SUEZ Circular Polymer Plant” in Thailand. The crucial market for SUEZ is the recycling of plastic. Annually, the company produces 150,000 tonnes of circular polymers and processes nearly 400,000 tonnes of plastic waste in nine specialist facilities globally. The company will recycle Low-Density Polyethylene (LDPE) and Linear Low-Density Polyethylene (LLDPE) plastic in this plant. Moreover, the plant helps to convert plastic packaging waste into high-quality post-consumer recycled plastics.

4. Ultra Poly Corporation

Ultra Poly Corporation participates in plastics recycling and provides various custom polyethylene, PET, polypropylene, ABS, and other specialized plastic resins. The services delivered by the company include toll processing, contract manufacturing, trade/handling services, and custom compounding. The company has the ability to produce 300 million pounds of recycled type of plastics yearly. It has five manufacturing facilities and 13 extrusion lines.

•    In 2019, Ultra-Poly Corporation, in partnership with SEKISUI Polymer Innovations, has agreed to recycle thermoplastic scrap for lower-quality applications at SEKISUI SPI’s campus in Pennsylvania, U.S. The company has a widespread range of recycled polymers, including polyethylene terephthalate, polyethylene, polypropylene, nylon, acrylonitrile butadiene styrene, and color concentrates.

5. Fresh Pak Corporation

Fresh Pak Corporation is headquartered in the U.S. and is a global provider of sustainable packaging products and manufactures plastic products made up of 100% recycled plastics bottles and bags. The company can convert polypropylene and polyethylene into plastic resin pellets; hence, reusing them to design plastic film, trash bags, and sheeting and packaging product. The company offers plastic resin, plastic sip sheets, tier sheets, plastic roll stock, and pallets by recycling plastic waste.

6. B&B Plastics Recycling Inc.

B&B Plastics Recycling Inc. is a North America-based plastic recycling company and also a service custom compounder of thermoplastics. The company’s product range includes wide spec, custom compounds, generic prime, regrind materials, and repelletized. The company has established its presence in Mexico, Canada, and the U.S. with five plastic recycling facilities and can recycle 112.5 kilotons of plastics in a year. The company delivers commodity-grade and engineering-grade plastic products, including PVC resins, HDPE, PC, and LDPE to end-user customers.

7. Custom Polymers, Inc.

7Custom Polymers was founded in 1996 and is headquartered in the U.S. It is a global company that reprocesses and recycles post-industrial and post-consumer plastic waste. The company works in processing, buying, and selling recycled plastics, including polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride, nylon, polystyrene, and polycarbonate. It offers recycled type of plastics in several forms such as virgin, regrind, reprocessed pellets, off-spec, films, and sheets. The company has presence in over 50 countries worldwide.

8. The Coca-Cola Company

The company was established in 1892 and is headquartered in Georgia, U.S. The company is one of the top recycled plastic companies. The company also manufactures, sells, and markets non-alcoholic and alcoholic beverages. The company's major production line includes syrup concentrates, which are sold in several bottles, holding exclusive territories. The Coca-Cola Company has 200 master brands, and its products are sold in more than 200 countries. The company has 900 bottling plants and 225 bottling partners. The Coca-Cola Company collected revenue of USD 38.66 billion in fiscal year 2022.

9. Green Line Polymers

The company is headquartered in the U.S. It converts post-consumer and post-industrial HDPE scrap into sustainable products and has eight facilities in the U.S. The services delivered by the company include transportation, plastic processing, procurement, and material handling. The company attains HDPE for recycling from industries such as toy manufacturers, automotive, bottle manufacturers, grocery, HDPE pipe manufacturers, thermoforms and sheets manufacturers, and others.

10. Clear Path Recycling

The company is headquartered in the U.S., and its recycling facility is located in Fayetteville, North Carolina. The company is the result of a joint venture between DAK Americas and Shaw Industries to produce recycled PET flakes from post-consumer PET bottles. The recycling plant can recycle 127 KT of pet bottles or about 5 billion bottles yearly.

Restrictions Imposed by Government Authorities to Boost the Adoption of Recycled Products

Stringent regulations imposed by government authorities in Europe and North America promote the adoption of this type of plastics in various applications. This resulted in increased recycled plastic rates in Mexico, India, and China were 24%, 60%, and 25%, respectively.