The India Plastic Recycling Market stood at USD 520.68 million in 2022 and is expected to grow at a CAGR of 7.58% during the forecast period. Development in various industries such as packaging, automotive and policies regulations by the government are driving the market. This can be attributed to the increasing environmental awareness and viable applicability of the products derived from plastic waste. Although this sector is mostly managed by unorganized local players, the Government of India has enforced plastic waste management rules which prohibit the use of single-use plastics which have low utility and high littering potential. Nowadays, environmental protection has become India’s topmost priority which paves the path to design and implement methods to manage plastic waste effectively to minimize the pollution generated through the non-decomposable plastics. To curb the negative impact of plastics on the environment, several major steps have been taken by the government and local players who are putting their efforts into making this country and planet Earth pollution free. Additionally, many fashion brands have recently taken charge of the situation and begun recycling PET plastic bottles into garments which makes this one of the significant ways to reduce waste generation making the country more environmentally friendly. Government initiatives, public awareness, and emerging ventures across the regions of India are collectively expected to foster market growth during the forecast period.

Growing Environmental Consciousness
Growing environmental awareness and public concern over the negative consequences of plastic waste are the main factors propelling the recycled plastic industry in India. Plastic is widely used in many end-use sectors, further fueling market growth in the nation due to fast industrialization, a rising population, and ongoing product advancements. Additionally, the Government of India (GoI) is enacting laws and launching recycling initiatives to reduce trash production and promote environmentally friendly plastic disposables. Additionally, technological advancements like artificial intelligence (AI) to sort plastic trash and improve the quality of recycled goods are favorably impacting the market’s expansion.

Demand From Packaging Industry
Plastics used in packaging industry are polyethylene terephthalate (PET), high-density polyethylene (HDPE), polypropylene (PP), and low-density polyethylene (LDPE). Plastic recycling refers to the procedure of collecting and reprocessing post-industrial plastic into useful products. Some of the common types of plastics include polyethylene terephthalate (PET), high-density polyethylene (HDPE), polypropylene (PP), and low-density polyethylene (LDPE). The generated waste goes through five stages, namely, sorting, washing, shredding, identification and classification, and extruding. Plastic recycling aims to reduce plastic pollution, minimize landfill dependence, conserve resources, and prevent greenhouse gas emissions. Recycled plastic can be used again for packaging of consumer goods.


Market Segmentation
The India Plastic Recycling Market is segmented based on type, source, method, end user, region, and company. Based on type, the market can be split into Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS). Based on Source the market can be divided into Bottles, Films, Fibers, Foams, and Others. Based on the Method, the market is divided into Mechanical, Thermal, Chemical, and Landfill. Based on End User the market is split into Packaging, Building & Construction, Textile, Electrical & Electronics, Automotive, and others.


Market Players
Suez India Private Limited, The Shakti Plastic Industries, Gravita India Limited, Pashupati Group, Jagriti Polymers, Mittal Polygrains LLP, Parkash Plastic, Shakti Corporation, are some of the leading companies operating in the market.


Report Scope:
In this report, India Plastic Recycling Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• India Plastic Recycling Market, By Type:
  –Polyethylene (PE)
  –Polyethylene Terephthalate (PET)
  –Polypropylene (PP)
  –Polyvinyl Chloride (PVC)
  –Polystyrene (PS)
  –Others
• India Plastic Recycling Market, By Source:
  –Bottles
  –Films
  –Fibers
  –Foams
  –Others
• India Plastic Recycling Market, By Method:
  –Mechanical
  –Thermal
  –Chemical
  –Landfill
•
• Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India Plastic Recycling market

Available Customizations:
The following customization options are available for the report: