Report

India plastic recycling market is projected to grow at a significant CAGR during the forecast period, 2023-2027. The market growth can be attributed to the increasing production of plastic and rising demands for the same across various end user industries. Besides, increasing government investments in the recycling process and machinery coupled with the growing application of lightweight plastic components are some of the factors propelling the growth of the India plastic recycling market. Plastic trash and its growing accumulation on landfills and ocean pose a serious environmental danger. Plastic components lack the ability to biodegrade and survive for many years. Plastic waste is dumped into bodies of water, where it is carried deep into the oceans and seas, where it is either swallowed by larger marine life or traps smaller marine life. Advances in research for efficient utilization of plastic and growing environmental awareness about plastic waste are also fueling the growth of the India plastic recycling market during the forecast period.

Plastic recycling is the process of reusing and reprocessing plastic to create new products and other valuable items while minimizing the amount of waste being produced. The practice is expanding quickly to reduce reliance on landfills, conserve resources, and safeguard the environment from plastic waste and greenhouse gas emissions. Active recycling is done with plastics like polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), etc.

In India, the weight of garbage build-up on landfills is growing, fueling the demand for plastic recycling and expanding the country's plastic recycling market over the next five years. The country's rising waste generation from the household, industrial, and commercial sectors is mostly to blame for the country's declining ecology. The total amount of plastic garbage produced in FY2020 was 34,69,780 tons. Additionally, the country's conditions for producing plastic garbage were made worse by the recent pandemic emergency. With increased single-use product consumption and disposables made of plastic, the generation of plastic has increased during the past two years, which has generated a greater need for plastic recycling. Investments by market players to introduce new and improve plastic recycling technologies for reducing carbon footprint are also adding to the market growth.

The Indian government is making a lot of effort to reduce pollution brought upon by plastic garbage. The wastewater management criteria support the Yamuna Bachao Andolan and other environmental measures developed by the Delhi Pollution Control Committee (DPCC). If these requirements are met, the filthy water in Delhi will be cleaned. Further supporting the expansion of the India plastic recycling market over the next five years are government programs like the Swachh Bharat Mission and the prohibition of single-use plastic items by 2022 under the authority of the Plastic Waste Management Amendment Rules, 2021.

The India plastic recycling market segmentation is based on the type, source, method, end user, regional distribution, top 3 state analysis, and competitional landscape. Based on type, the market is bifurcated into polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), and others. Polyethylene terephthalate (PET) is expected to hold the highest share in the India plastic recycling market, owing to the easy and cost-efficient recycling process and growing PET use in most plastic products.

Key players operating in the India plastic recycling market are BASF India Limited, Veolia India Private Limited, SEUZ India, The Shakti Plastic Industries, Banyan Nation, Gravita India Limited, GEM Enviro Management Pvt Ltd., B R Plastic Industries Private Limited, Green India Polymers, Green Roots Solutions, Halifax Greentech LLP, Jagriti Polymers, Jay-Kay Plastics, Knack Packaging Pvt. Ltd., Luckystar Group, Macpac Plastics & Packaging LLP, Mittal Polygrains LLP, Sharma Plastic, Parkash Plastic, Shakti Corporation Pvt. Ltd., among others.
Years considered for this report:
Historical Years: FY2017- FY2020
Base Year: FY2021
Estimated Year: FY2022
Forecast Period: FY2023- FY2027
Objective of the Study:
- To analyze the historical growth in the market size of the India plastic recycling market from FY2017-FY2021.
- To estimate and forecast the market size of India plastic recycling market from FY2023 to FY2027 and growth rate until FY2027.
- To classify and forecast the India plastic recycling market based on type, source, method, end user, region and company.
- To identify the dominant region or segment in the India plastic recycling market.
- To identify drivers and challenges for the India plastic recycling market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the India plastic recycling market.
- To identify and analyze the profiles of leading players operating in the India plastic recycling market.
- To identify key sustainable strategies adopted by market players in India plastic recycling market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers and presence of all major players across the country.
TechSci Research calculated the market size of the India plastic recycling market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, India plastic recycling market is segmented into following categories, in addition to the industry trends which have also been detailed below:
- India Plastic Recycling Market, By Type:
o Polyethylene Terephthalate (PET)
o Polyethylene (PE)
o Polypropylene (PP)
o Polyvinyl Chloride (PVC)
o Polystyrene (PS)
o Others
- India Plastic Recycling Market, By Source:
o Bottles
o Films
o Fibers
o Foams
o Others
- India Plastic Recycling Market, By Method:
o Thermal
o Chemical
o Mechanical
o Landfill
- India Plastic Recycling Market, By End User:
o Packaging
o Building & Construction
o Textile
o Automotive
o Electrical & Electronics
o Others
- India Plastic Recycling Market, By Region:
o South
- Top 3 States
o West
- Top 3 States
o North
- Top 3 States
o East
- Top 3 States
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India plastic recycling market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).