Wissen Research projects recycled plastics market to reach US$117.9B by 2031

GLOBAL – Wissen Research has valued the global recycled plastics market at US$76.6 billion in 2026 and projects it to reach US$117.9 billion by 2031 driven by recycled-content mandates and sustainability commitments.

Wissen Research attributes market growth to a mix of regulations and economics. 

The European Union’s Packaging and Packaging Waste Regulation, applying from 12 August 2026, sets minimum recycled-content targets from 2030, including 30 percent for single-use plastic beverage bottles and 35 percent for other plastic packaging, rising to 65 percent for both by 2040. 

India requires 30 percent recycled content in rigid packaging in 2025-26, climbing to 60 percent by 2028-29. 

The firm notes that extended producer responsibility rules are pushing brand owners to manage their packaging waste, creating sustained structural demand for recyclate across jurisdictions.

Supply Shortfalls Constrain Market Growth

The report describes a market where demand created by regulation is running ahead of reliable recycling capacity, and where price and feedstock quality will decide how fast it can grow. 

Republic Services estimates that US recycled PET demand will reach 5 billion pounds by 2030, against current supply capacity of 2.5 billion. 

In Europe, Plastics Recyclers Europe puts the capacity needed to meet recycled-content targets at 16 million tonnes, compared with about 13.2 million tonnes available, and the European Commission expects installed capacity to shrink by roughly one million tonnes by the end of 2025.

Price Gap Between Virgin and Recycled Material Persists

Price is the other lever. In mid-2025, virgin PET traded at about €1,000 (US$1,173) a tonne while recycled PET fetched up to €1,800 (US$2,112), and some European bottlers reverted to the 25 percent legal minimum. 

The report’s conclusion is that mandates set the baseline, but growth beyond it depends on narrowing the price gap, expanding reliable recycling capacity and securing consistent feedstock supplies.

Chemical Recycling Projects Reach Production Stage

Mechanical recycling remains the foundation of the industry, according to Wissen Research. Chemical recycling is drawing interest for waste streams conventional methods cannot process. 

Fraunhofer UMSICHT counted 65 chemical recycling projects in Europe, with about 2.8 million tonnes a year of announced or under-construction capacity. 

Wissen Research concludes that high capital costs, feedstock availability and uncertainty over demand still shape which projects get built.

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