China's Recycled Plastics Market Reaches 83.484 Billion RMB in 2023
According to the latest authoritative report, the market size of China’s recycled plastics industry surpassed 83.484 billion RMB in 2023, representing a 6.3% year-on-year growth. Despite multiple challenges such as fluctuations in raw material prices and evolving environmental policies, the recycled plastics market has maintained steady growth.
In recent years, the Chinese government has intensified its support for the circular economy and environmental industries, introducing a series of policies encouraging resource recycling and reuse. At the same time, with the rising environmental standards in the international market, China’s recycled plastics industry has secured more export orders, further driving the expansion of the market.
The rapid development of the recycled plastics industry is closely linked to technological innovation. The adoption of advanced recycling technologies and the continuous upgrade of plastic sorting and regeneration equipment have significantly improved the quality of recycled plastics. Additionally, as environmental awareness grows across society, the application scope of recycled plastics has expanded beyond traditional packaging industries to sectors such as construction, automotive, and electronics.
However, despite the expanding market size, the recycled plastics industry still faces certain challenges. Firstly, due to the vast global plastic production volume, the recycling rate remains relatively low, and the overall efficiency of plastic recycling still needs improvement. Secondly, market regulation in some regions remains insufficient, allowing certain enterprises to operate below environmental standards, leading to resource waste and environmental pollution. To address these challenges, the industry must continue to drive technological innovation and enhance the entire value chain to ensure sustainable development.
Industry experts predict that China’s recycled plastics market will continue to grow steadily in the coming years. By 2025, the market size is expected to exceed 100 billion RMB, making recycled plastics a critical pillar of the plastics industry.
