BCC Research Publishes 2024 Plastics Market Review Highlighting Bioplastics, Recycling, and Industry Transformation

"Comprehensive Review Explores How Market Expansion, Process Flexibility, and the Push Toward Circular Economy Models Are Transforming the Plastics Industry’s Role in Global Manufacturing"

July 31, 2025

Boston: BCC Research announces the release of its "2024 Plastics Research Review,” which explores the evolving landscape of the global plastics industry. With increasing emphasis on sustainability, regulatory change, and innovation in bioplastics and recycling technologies, this review captures the transformative shifts underway across the plastics value chain.

Highlights:

• Medical Plastics: Global Markets:
  • The market is projected to increase from $25.6 billion in 2023 to $41.2 billion by the end of 2028.
  • Compound Annual Growth Rate (CAGR): 10.0%.

• Plastics Compounding: Global Markets:
  • The market is projected to grow from $57.8 billion in 2023 to $80.3 billion by 2029.
  • CAGR: 5.8%.

• Plastics Recycling: Global Markets:
  • The market is expected to increase from $41.9 billion in 2023 to $57.9 billion by 2029.
  • CAGR: 6.4%.

Research Coverage and Insights:

This Research Review outlines the critical role of plastics in the global manufacturing sector, highlighting their economic significance, broad applications, and evolving contribution to environmental sustainability. It examines the structural landscape of the plastics industry and tracks the regulatory, technological, and market forces driving its transformation.

Insights Include:

Essential to Global Manufacturing:

• Plastic is among the manufacturing sector’s most vital materials, offering economic value and extensive use. It is used in products ranging from packaging materials to household goods and plays a major role in the automotive and construction sectors due to its versatility, durability, and lightweight nature.

Cost-Effective and Scalable:

• Plastic products are known for their ability to be produced in large volumes at relatively low cost, making them an attractive choice for mass manufacturing.

Industry Scope and Processing Diversity:

• The plastics industry covers the conversion of thermosetting and thermoplastic polymers through activities such as compounding, recycling, and fabrication. These materials are shaped into various forms—flexible, rigid, or semi-rigid—using techniques like extrusion, molding, casting, and coating.

Sustainability at the Forefront:

• Plastics support environmental sustainability with inherent recyclability, energy-saving potential, and energy recovery options. Industry practices are adapting to shifting consumer behavior and stricter environmental regulations.

Shift to a Circular Economy:

• The need to transition to a sustainable circular economy is becoming more urgent globally. Key developments include the rise of bioplastics from renewable sources like sugarcane, corn starch, and algae, alongside advanced recycling technologies, circular economy initiatives, and strategies focused on lightweighting.

Research Summary:

The 2024 Plastics Research Review exemplifies the quantitative market information, analysis, and guidance that BCC Research has been providing since its inception in 1971 to support informed business decisions. It includes highlights and excerpts from the following reports published by BCC Research in 2024:

• PLS009L Medical Plastics: Global Markets

• PLS018H Global Market for Plastics Compounding

• PLS031E Plastics Recycling: Global Markets

• PLS089D Plastic Injection Molding: Global Markets and Technologies

This Research Review provides a consolidated overview of market insights from these recent reports. The full reports referenced in this review offer additional depth on each topic, offering further context and more detailed analysis.

For further information on any of these reports or to make a purchase, contact us at info@bccresearch.com.