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Report
India Recycled Plastics Market Forecast 2024-2032
Market Report I 2024-09-19 I 144 Pages I Inkwood Research
KEY FINDINGS
The India recycled plastics market is anticipated to progress with a CAGR of 10.95% during the forecast period of 2024-2032, reaching a revenue of $3810.30 million by 2032.
MARKET INSIGHTS
In India, government initiatives such as 'Make In India,' 'Skill India,' and 'Digital India' have significantly fueled the growth of the plastic products industry. These initiatives are also driving industrial expansion and technological innovation, resulting in heightened demand for plastic products across multiple sectors. A key aspect of managing this growth sustainably is the implementation of Extended Producer Responsibility (EPR), which plays a vital role in environmental conservation by ensuring that producers are accountable for the entire life cycle of their products, including post-consumer stages.
To promote the adoption of EPR, the Ministry of Environment, Forest, and Climate Change (MoEFCC) introduced specific guidelines for Extended Producer Responsibility for Plastic Packaging through an amendment to the Plastic Waste Management Rules in February 2022. These guidelines require Producers, Importers, and Brand Owners (PIBOs) to register through a centralized online portal managed by the Central Pollution Control Board (CPCB).
Further advancing plastic waste management, a draft notification issued by the MoEFCC in October 2023 proposes a second amendment to the Plastic Waste Management (PWM) rules. This amendment aims to encompass all participants in the plastic supply chain through mandatory registration. It also focuses on promoting the environmentally sound management of compostable and biodegradable plastics, utilizing online platforms for reporting, and establishing an electronic trading system for certificates among registered waste processors.
These regulatory measures and policy frameworks are anticipated to boost the demand for recycled plastics in India. By holding producers accountable for their plastic waste and encouraging environmentally responsible practices, the government is promoting the use of recycled materials. Furthermore, the focus on sustainable waste management and the encouragement of compostable and biodegradable plastics provide opportunities for the increased use of recycled plastics in various industries.
SEGMENTATION ANALYSIS
The India recycled plastics market segmentation includes recycling process, source, type, plastic type, and end-user. The plastic type segment is further categorized into PET (polyethylene terephthalate), PVC (polyvinyl chloride), PP (polypropylene), PE (polyethylene), PS (polystyrene), and other plastic types.
Polyvinyl chloride (PVC) is one of the earliest discovered plastics and continues to be among the most extensively used. Comprising a blend of salt (57%) and oil or gas (43%), PVC ranks as the third most produced synthetic plastic polymer globally, following polyethylene and polypropylene. It is available in two primary forms: rigid (RPVC) and flexible, which makes it a highly versatile material utilized across a broad range of industries.
In the construction sector, PVC is widely used for manufacturing building products such as window frames, floor and wall coverings, roofing sheets, and linings for tunnels, swimming pools, and reservoirs. Its durability and resistance to environmental factors make it an excellent choice for piping applications, including water and sewerage pipes, as well as ducts for power and telecommunications. Additionally, PVC is used in coatings for various products, including tarpaulins, rainwear, and corrugated metal sheets, due to its robust performance and adaptability.
COMPETITIVE INSIGHTS
Some of the leading enterprises operating in the India recycled plastics market are Veolia Environment SA, The Shakti Plastic Industries, Addonn Polycompounds Pvt Ltd, etc.
The Shakti Plastics Industries, headquartered in India, specializes in managing a wide variety of plastic waste, including post-consumer plastic waste, multilayer plastic waste, and diverse items such as molds from stores, pens from schools, and plastic gloves from manufacturing facilities. The company's comprehensive waste management services in India cater to a broad spectrum of clients, including individual collectors, companies, retailers, manufacturers, municipalities, NGOs, and small businesses.
The company has taken significant steps to formalize India's unregulated and unorganized waste management sector by sourcing plastic waste from marginalized waste pickers and fostering long-term partnerships through fair and transparent pricing. To enhance the efficiency and transparency of its operations, The Shakti Plastics Industries has also implemented an Enterprise Resource Planning (ERP) system, enabling meticulous tracking and monitoring of activities.
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT - INDIA
2.3. COUNTRY ANALYSIS - INDIA
2.4. SCOPE OF STUDY
2.5. CRISIS SCENARIO ANALYSIS
2.5.1. IMPACT OF COVID-19 ON THE RECYCLED PLASTICS MARKET
2.6. MAJOR MARKET FINDINGS
2.6.1. PUSH AND PULL POLICY FRAMEWORKS
2.6.2. STARTUPS IN PLASTIC RECYCLING
2.6.3. TRADE RESTRICTIONS ON PLASTIC WASTE
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. ENVIRONMENTAL CONCERNS REGARDING PLASTIC WASTE
3.1.2. APPLICATION OF RECYCLED PLASTICS IN AUTOMOTIVE, PACKAGING AND ELECTRONICS SECTORS
3.1.3. ADVANCEMENTS IN RECYCLING TECHNOLOGIES
3.1.4. SHIFT IN CONSUMER PREFERENCES TOWARD RECYCLED PLASTICS
3.2. KEY RESTRAINTS
3.2.1. DEGRADED QUALITY OF RECYCLED PLASTICS DUE TO PLASTIC CONTAMINATION AND DOWNCYCLING
3.2.2. LACK OF INFRASTRUCTURE FOR COLLECTING AND PROCESSING RECYCLABLE MATERIAL
3.2.3. HIGH COSTS ASSOCIATED WITH RECYCLED PLASTIC PRODUCTION
3.2.4. LACK OF DIFFERENTIATED DEMAND FOR RECYCLED PLASTICS
4. KEY ANALYTICS
4.1. PARENT MARKET ANALYSIS - WASTE RECYCLING SERVICES MARKET
4.2. KEY MARKET TRENDS
4.2.1. GROWING NEED FOR SUSTAINABLE PACKAGING SOLUTIONS IN THE E-COMMERCE INDUSTRY
4.2.2. RISING INVESTMENTS IN RECYCLING TECHNOLOGIES
4.2.3. PROMOTION OF CIRCULAR ECONOMY THROUGH GOVERNMENT POLICIES AND REGULATIONS
4.2.4. FOCUS ON ECO-DESIGN FOR IMPROVING PLASTIC RECYCLABILITY
4.3. PORTER'S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. GROWTH PROSPECT MAPPING
4.4.1. GROWTH PROSPECT MAPPING FOR INDIA
4.5. VALUE CHAIN ANALYSIS
4.5.1. COLLECTION
4.5.2. SORTING AND PROCESSING
4.5.3. MELTING AND PELLETIZATION
4.5.4. MANUFACTURING
4.5.5. DISTRIBUTION
4.5.6. END-USER
4.6. KEY BUYING CRITERIA
4.6.1. QUALITY AND CONSISTENCY
4.6.2. GRADE
4.6.3. COST
4.6.4. TRACEABILITY
5. MARKET BY RECYCLING PROCESS
5.1. CHEMICAL RECYCLING
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. MECHANICAL RECYCLING
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
6. MARKET BY SOURCE
6.1. BOTTLES
6.1.1. MARKET FORECAST FIGURE
6.1.2. SEGMENT ANALYSIS
6.2. FILMS
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
6.3. FOAM
6.3.1. MARKET FORECAST FIGURE
6.3.2. SEGMENT ANALYSIS
6.4. OTHER SOURCES
6.4.1. MARKET FORECAST FIGURE
6.4.2. SEGMENT ANALYSIS
7. MARKET BY TYPE
7.1. POST-CONSUMER RECYCLED PLASTICS
7.1.1. MARKET FORECAST FIGURE
7.1.2. SEGMENT ANALYSIS
7.2. POST-INDUSTRIAL RECYCLED PLASTICS
7.2.1. MARKET FORECAST FIGURE
7.2.2. SEGMENT ANALYSIS
8. MARKET BY PLASTIC TYPE
8.1. PET (POLYETHYLENE TEREPHTHALATE)
8.1.1. MARKET FORECAST FIGURE
8.1.2. SEGMENT ANALYSIS
8.2. PVC (POLYVINYL CHLORIDE)
8.2.1. MARKET FORECAST FIGURE
8.2.2. SEGMENT ANALYSIS
8.3. PP (POLYPROPYLENE)
8.3.1. MARKET FORECAST FIGURE
8.3.2. SEGMENT ANALYSIS
8.4. PE (POLYETHYLENE)
8.4.1. MARKET FORECAST FIGURE
8.4.2. SEGMENT ANALYSIS
8.5. PS (POLYSTYRENE)
8.5.1. MARKET FORECAST FIGURE
8.5.2. SEGMENT ANALYSIS
8.6. OTHER PLASTIC TYPES
8.6.1. MARKET FORECAST FIGURE
8.6.2. SEGMENT ANALYSIS
9. MARKET BY END-USER
9.1. PACKAGING
9.1.1. MARKET FORECAST FIGURE
9.1.2. SEGMENT ANALYSIS
9.2. BUILDING & CONSTRUCTION
9.2.1. MARKET FORECAST FIGURE
9.2.2. SEGMENT ANALYSIS
9.3. AUTOMOTIVE
9.3.1. MARKET FORECAST FIGURE
9.3.2. SEGMENT ANALYSIS
9.4. ELECTRICAL & ELECTRONICS
9.4.1. MARKET FORECAST FIGURE
9.4.2. SEGMENT ANALYSIS
9.5. TEXTILE
9.5.1. MARKET FORECAST FIGURE
9.5.2. SEGMENT ANALYSIS
9.6. OTHER END-USERS
9.6.1. MARKET FORECAST FIGURE
9.6.2. SEGMENT ANALYSIS
10. COMPETITIVE LANDSCAPE
10.1. KEY STRATEGIC DEVELOPMENTS
10.1.1. MERGERS & ACQUISITIONS
10.1.2. PARTNERSHIPS & AGREEMENTS
10.1.3. BUSINESS EXPANSIONS & DIVESTITURES
10.2. COMPANY PROFILES
10.2.1. BERRY GLOBAL INC
10.2.1.1. COMPANY OVERVIEW
10.2.1.2. PRODUCTS
10.2.1.3. STRENGTHS & CHALLENGES
10.2.2. INDORAMA VENTURES PCL
10.2.2.1. COMPANY OVERVIEW
10.2.2.2. PRODUCTS
10.2.2.3. STRENGTHS & CHALLENGES
10.2.3. VEOLIA ENVIRONMENT SA
10.2.3.1. COMPANY OVERVIEW
10.2.3.2. PRODUCTS
10.2.3.3. STRENGTHS & CHALLENGES
10.2.4. THE SHAKTI PLASTIC INDUSTRIES
10.2.4.1. COMPANY OVERVIEW
10.2.4.2. PRODUCTS
10.2.5. ADDONN POLYCOMPOUNDS PVT LTD
10.2.5.1. COMPANY OVERVIEW
10.2.5.2. PRODUCTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - RECYCLED PLASTICS
TABLE 2: INDIA RECYCLED PLASTICS MARKET, BY RECYCLING PROCESS, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: INDIA RECYCLED PLASTICS MARKET, BY RECYCLING PROCESS, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: INDIA RECYCLED PLASTICS MARKET, BY SOURCE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: INDIA RECYCLED PLASTICS MARKET, BY SOURCE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: INDIA RECYCLED PLASTICS MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: INDIA RECYCLED PLASTICS MARKET, BY TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: INDIA RECYCLED PLASTICS MARKET, BY PLASTIC TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: INDIA RECYCLED PLASTICS MARKET, BY PLASTIC TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 10: INDIA RECYCLED PLASTICS MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 11: INDIA RECYCLED PLASTICS MARKET, BY END-USER, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 12: LIST OF MERGERS & ACQUISITIONS
TABLE 13: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 14: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR INDIA
FIGURE 4: VALUE CHAIN ANALYSIS
FIGURE 5: KEY BUYING CRITERIA
FIGURE 6: INDIA RECYCLED PLASTICS MARKET, GROWTH POTENTIAL, BY RECYCLING PROCESS, IN 2023
FIGURE 7: INDIA RECYCLED PLASTICS MARKET, BY CHEMICAL RECYCLING, 2024-2032 (IN $ MILLION)
FIGURE 8: INDIA RECYCLED PLASTICS MARKET, BY MECHANICAL RECYCLING, 2024-2032 (IN $ MILLION)
FIGURE 9: INDIA RECYCLED PLASTICS MARKET, GROWTH POTENTIAL, BY SOURCE, IN 2023
FIGURE 10: INDIA RECYCLED PLASTICS MARKET, BY BOTTLES, 2024-2032 (IN $ MILLION)
FIGURE 11: INDIA RECYCLED PLASTICS MARKET, BY FILMS, 2024-2032 (IN $ MILLION)
FIGURE 12: INDIA RECYCLED PLASTICS MARKET, BY FOAM, 2024-2032 (IN $ MILLION)
FIGURE 13: INDIA RECYCLED PLASTICS MARKET, BY OTHER SOURCES, 2024-2032 (IN $ MILLION)
FIGURE 14: INDIA RECYCLED PLASTICS MARKET, GROWTH POTENTIAL, BY TYPE, IN 2023
FIGURE 15: INDIA RECYCLED PLASTICS MARKET, BY POST-CONSUMER RECYCLED PLASTICS, 2024-2032 (IN $ MILLION)
FIGURE 16: INDIA RECYCLED PLASTICS MARKET, BY POST-INDUSTRIAL RECYCLED PLASTICS, 2024-2032 (IN $ MILLION)
FIGURE 17: INDIA RECYCLED PLASTICS MARKET, GROWTH POTENTIAL, BY PLASTIC TYPE, IN 2023
FIGURE 18: INDIA RECYCLED PLASTICS MARKET, BY PET (POLYETHYLENE TEREPHTHALATE), 2024-2032 (IN $ MILLION)
FIGURE 19: INDIA RECYCLED PLASTICS MARKET, BY PVC (POLYVINYL CHLORIDE), 2024-2032 (IN $ MILLION)
FIGURE 20: INDIA RECYCLED PLASTICS MARKET, BY PP (POLYPROPYLENE), 2024-2032 (IN $ MILLION)
FIGURE 21: INDIA RECYCLED PLASTICS MARKET, BY PE (POLYETHYLENE), 2024-2032 (IN $ MILLION)
FIGURE 22: INDIA RECYCLED PLASTICS MARKET, BY PS (POLYSTYRENE), 2024-2032 (IN $ MILLION)
FIGURE 23: INDIA RECYCLED PLASTICS MARKET, BY OTHER PLASTIC TYPES, 2024-2032 (IN $ MILLION)
FIGURE 24: INDIA RECYCLED PLASTICS MARKET, GROWTH POTENTIAL, BY END-USER, IN 2023
FIGURE 25: INDIA RECYCLED PLASTICS MARKET, BY PACKAGING, 2024-2032 (IN $ MILLION)
FIGURE 26: INDIA RECYCLED PLASTICS MARKET, BY BUILDING & CONSTRUCTION, 2024-2032 (IN $ MILLION)
FIGURE 27: INDIA RECYCLED PLASTICS MARKET, BY AUTOMOTIVE, 2024-2032 (IN $ MILLION)
FIGURE 28: INDIA RECYCLED PLASTICS MARKET, BY ELECTRICAL & ELECTRONICS, 2024-2032 (IN $ MILLION)
FIGURE 29: INDIA RECYCLED PLASTICS MARKET, BY TEXTILE, 2024-2032 (IN $ MILLION)
FIGURE 30: INDIA RECYCLED PLASTICS MARKET, BY OTHER END-USERS, 2024-2032 (IN $ MILLION)
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