H1 2023: The major players in the H1 2023 in the China Plastic Recycling market in H1 2023 were Hebei Zaige Renewable Resources Development Co., Ltd. and Jiangxi Royal One Renewable Resources Co., Ltd. In January 2023, the largest plastic recycling facility in Hong Kong was opened by New Life Plastics Limited (NLP) for food-grade plastic. This new plant is a joint venture between Swire Coca-Cola Limited, ALBA Group (Asia) Limited (ALBA), and Baguio Waste Management and Recycling Limited. At this facility, used plastics will be remanufactured as valuable raw materials to support the regional circular economy for beverage packaging. The plant is a 6,500 square meter recycling facility in EcoPark, Tuen Mun with a current capacity to process 4800 tonnes of recycled beverage bottles per year with an actual total production capacity of 10.8 thousand tonnes per year. NLP processes post-consumer PET bottles using cutting-edge technology to create food-grade ready rPET flakes, which are subsequently provided to businesses for creating a variety of recycled PET goods. The newly constructed site lessened the load on landfills, saved consumers money on waste fees, and advanced Hong Kong's objective of reaching carbon neutrality. Based on region-wise consumption, East China was in the lead in the China plastic recycling market in H1 2023.
The China Plastic Recycling market stood at nearly 20 million tonnes in 2022 and is anticipated to grow at a healthy CAGR of 6.21% by 2030.
For the past few decades, China has been receiving the bulk of scrap plastic from various countries such as the United States, Germany, Japan, Australia, etc., and processing much of the plastic waste into a higher quality material, that could be used by manufacturers to make products. The market for plastic recycling is anticipated to rise over the projected period as a result of the growing need for plastic recycling in packaging, electrical & electronics, automotive, and other industries due to cost optimization and energy-saving benefits. Although, packaging is the primary market driver of the market and is likely to remain so in the forecast period. Polyethylene is the most prominently used plastic in the world for packaging. Polyethylene packaging for food and beverages has additional advantages, such as its resistance to punctures, sterility, lightweight, and adaptability to a variety of container sizes or types. China's Plastic Recycling market is anticipated to reach approximately 33 million tonnes in 2030.
Based on type, the China Plastic Recycling market is divided into Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others. Among these, Polyethylene (PE) is the leading segment and captured nearly 34% of the market in 2022. Polyethylene is lightweight and displays resistance to oil and water driving its usage in multiple industries such as consumer goods, electronics & electricals, consumer goods, packaging, etc. The main applications include squeeze bottles, household goods, agricultural mulch, garbage and grocery bags, wire and cable insulation, packaging film, and trash and grocery bags.
Based on demand by region, the China Plastic Recycling market is segregated into East China, South Central China, North China, West China, and North East China. Among these East China is dominating the market and consumed approximately 30% of the market and is likely to stay so in the forecast period.
Based on end-use, the China Plastic Recycling market is segregated into different industrial sectors such as Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others. Among these, the Packaging industry is dominating the China Plastic Recycling market. This industry consumed approximately 42% of the Plastic Recycling market in 2022. Plastics like polyethylene are renowned for their ability to withstand moisture. Due to its durability and flexibility, polyethylene, one of the most prevalent polymers produced globally, is frequently utilised to make polymer packaging. Both linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE Resin) are frequently used to make bottles, shopping bags, wrappers, and other protective packaging.
Some of the major players in China Plastic Recycling market are Hebei Zaige Renewable Resources Development Co., Ltd., Intco Environmental, Jiangxi Royal One Renewable Resources Co., Ltd., Suzhou Jinhui Technology Materials Co., Ltd, Shanghai Tianqiang Environmental Protection Technology Co., Ltd., Shandong Power Plastic Co.,Ltd., Dalian Babobee Recycling Resources Reusage Co., Ltd., Lianyungang Tongshun Plastic Product Co., Ltd., Yancheng Beidi Plastic Industry Co., Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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Objective of the Study:
• To assess the demand-supply scenario of Plastic Recycling which covers production, demand and supply of Plastic Recycling market in China.
• To analyse and forecast the market size of Plastic Recycling in China.
• To classi and forecast China Plastic Recycling market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Plastic Recycling market in China.
To extract data for China Plastic Recycling market, primary research surveys were conducted with Plastic Recycling manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for China Plastic Recycling market over the coming years.
ChemAnalyst calculated Plastic Recycling demand in China by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Plastic Recycling to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Plastic Recycling manufacturers and other stakeholders
• Organizations, forums and alliances related to Plastic Recycling distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Plastic Recycling manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, China Plastic Recycling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
20 million tonnes
Market size Volume by 2032
33 million tonnes
Growth Rate
CAGR of 6.21% from 2023 to 2030
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2030
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2030
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By type: Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others
By End-Use: (Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
East China, South Central China, North China, West China, and North East China
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What is the anticipated market growth rate of China Plastic Recycling market for the forecast period of 2024- 2030?
Ans:
The China Plastic Recycling market is anticipated to grow at a healthy CAGR of 6.3% for the forecast period of 2024- 2030.
Q2.
Which industry is dominating the China Plastic Recycling market?
Ans:
As of 2022, Packaging industry is dominating the Plastic Recycling market in China with an estimated share of nearly 42%.
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