Recycled Ocean Plastics Market Size, Share, By Resin Type, Source, Dimension, Application, and Region - Trends, Analysis and Forecast till 2035

• The recycled ocean plastics market size was valued at USD 3.4 billion in 2024.
• The target market is anticipated to grow to a size of USD 6.8 billion by 2035.
• The targeted market is growing at a CAGR of 7.9%.

Recycled ocean plastics refer to plastics that have been collected from ocean environments, which include coastal areas and waterways and are subsequently processed for reuse. The target market growth focuses on the collection, processing, and repurposing of plastic waste that has entered the ocean boosting the recycle ocean plastics market growth.    

For instance, In October 2024, Kia Corporation (Kia) has developed the world’s first car accessory made from plastic extracted from the Great Pacific Garbage Patch (GPGP) by The Ocean Cleanup. The accessory's release marks a significant turning point in its ongoing collaboration with The Ocean Cleanup. A major component of Kia's continuous transition into a top supplier of sustainable mobility solutions since 2022 has been the company's support of the nonprofit, which is committed to creating and expanding technology to remove plastic from the world's oceans. 

Key Takeaways:

• Asia Pacific is set to hold the largest market share of about 40.6% in 2024 due to high levels of plastic waste entering oceans, which is driven by inadequate waste management systems             .
• North America is projected to be the fastest-growing market in the coming years, as it is holds a 21.9% share as the U.S. leads due to strong policy frameworks and corporate commitments toward sustainability.
• Utilizing recovered ocean plastics in composite materials and polyurethane foams is one innovation that improves product effectiveness across sectors.

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Key Drivers of Target Market:

Increasing Corporate Sustainability Initiatives to Accelerate Target Market Growth

Companies are increasingly recognizing the importance of addressing plastic pollution and enhancing their environmental responsibility. Corporations are innovating by developing new products produced from recycled ocean plastics.      

• For instance, in May 2023, In collaboration with Vancouver-based Plastic Bank, SC Johnson, a consumer packaged products producer with headquarters in Racine, Wisconsin, has claimed that it has stopped 40 million kilograms (around 88 million pounds), of coastal plastic from ending up in the ocean.

Consumer Demand for Sustainable Products to Encourage a Targeted Market

Rising awareness about ocean pollution encourages consumers to choose products made from recycled ocean plastics. Brands leverages this demand to enhance their market positioning further accelerating adoption.

• For instance, according to CaraGreen recent reports, Innovative companies, such as Kirei and Durat have stepped up to improve building sustainability. Kirei’s acoustic wall panels are manufactured from recycled PET plastic bottles. They are currently developing a recycled ocean plastic product. Durat is testing ocean plastic materials for their range of surfacing products.  

Restraints:

Quality and Contamination Issues to Hamper the Target Market Growth

Recycled ocean plastics often face quality issues due to contamination and degradation in seawater. Ensuring consistent, high quality materials requires extensive processing which limits scalability and profitability.  

• For instance, in July 2024, the UNEP reported that contamination in ocean plastics continues to hinder recycling quality. High levels of micro plastics infiltration and chemical residue complicated the production of high grade recycled products particularly affecting sectors like packaging and textiles.
• Counterbalance Statements: While there are concerns regarding the quality and contamination of recycled ocean plastics, ongoing advancements in recycling technologies are improving the purification processes. 

Opportunities & Market Trends:

Economic Incentives and Funding to Boost Market Opportunities

Governments and NGO’s are proving incentives and grants to support businesses engaged in ocean cleanup and plastic recycling. 

• For instance, in November 2020, the U.S. International Development Finance Corporation (DFC) announced it claimed to catalyze USD 2.5 billion in infrastructure investments which aimed at reducing the discharge of plastic waste and marine debris into oceans and waterways under its new Ocean Plastics Initiative. The initiative seeks to catalyze private sector investment in projects that advance the development of efficient waste management, recycling, and other infrastructure projects in developing countries.

The recycled ocean plastics market is classified into resin type, Source, dimension, application and region.

Resin Type:

The recycled ocean plastics market is segmented into polyethylene terephthalate (pet), polyethylene (pe), polypropylene (pp), polystyrene (ps), high-density polyethylene (hdpe), low-density polyethylene (ldpe), and others by resin type. Polyethylene Terephthalate (PET) is anticipated to boost the recycled ocean plastics market share as due to its widespread use in products, such as bottles and packaging materials. PET popularity stems from its recyclability and versatility which makes it a preferred choice for companies looking to incorporate recycled materials into their products.

• For instance, in May 2022, SABIC introduced LNP ELCRIN WF0061BiQ resin, a novel material that uses ocean-bound polyethylene terephthalate (PET) bottles as a feed stream for chemical upcycling into polybutylene terephthalate (PBT) resin.

Source:

Recycled Ocean Plastics market is divided into three segments based on source. Plastic bottles, fishing gear, plastic bags, and others. Plastic bottles dominates target market share due to the high volume of plastic bottles that end up in oceans and coastal areas which makes them a primary source of recycled ocean plastics.

• For instance, in November 2024, one of the global sustainable packaging leaders Berry Global Group, Inc. has partnered with Brookfield Drinks for the launch of a new spring water range in a first-to-market bottle made completely from Prevented Ocean Plastic (POP). An estimated 1.7 plastic bottles are prevented from entering the ocean for every 500ml bottle of NEO WTR, which is produced from discarded plastic that has been gathered along beaches at risk of ocean plastic pollution.

Dimension:

The recycled ocean plastics market by dimension divided into 0.5-5 cm, 5-50 cm, and Above 50 cm. 0.5-5cm is anticipated to boost the focused market share as this size range includes a significant portion of the plastic trash collected from oceans such as microplastics and small plastic fragments which are prevalent in marine environments.

Application:

The recycled ocean plastics market categorized into footwear, bags & luggage, packaging, and others by application. The footwear segment is anticipated to boost the focused market share as this segments has gained significant traction due to the increasing demand for sustainable and eco-friendly products among consumers.

Region:

North America: This region is expected to fastest growing region which is driven by increasing demand for recycled plastics and the presence of leading companies that convert waste materials into innovative products.

• For instance, in January 2023, Ocean Legacy, a Canadian non-profit organization that develops and implements globally plastic pollution program with the goal to end ocean plastic pollution announced that they have produced the first commercially available plastic pellet in North America called Legacy Plastic. High-grade, 100% post-consumer processed recycled plastic that has been recovered from shoreline, ocean, and marine equipment cleanups is used to make Legacy Plastic.

Asia Pacific: This region also expected to dominate the target market growth with a strong focus on addressing plastic pollution through numerous government and private initiatives. Countries, such as Japan and China are actively promoting the use of recycled ocean plastics in manufacturing. The high volume of plastic waste generated in these countries necessitates effective recycling solutions which makes this region critical area for industry development.

Recycled Ocean Plastics Market Report Scope:

Segmentation:

By Resin Type:

• Polyethylene Terephthalate (PET)
• Polyethylene (PE)
• Polypropylene (PP)
• Polystyrene (PS)
• High-Density Polyethylene (HDPE)
• Low-density Polyethylene (LDPE)
• Others

By Source:

• Plastic Bottles
• Fishing Gear
• Plastic Bags
• Others 

By Dimension:

• 0.5-5 cm
• 5-50 cm
• Above 50 cm

By Application:

• Footwear
• Bags & Luggage
• Packaging
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the recycled ocean plastics market include Aquafil S.p.A., BIONIC, Tide Ocean SA and others. The companies in target are focusing on innovative solutions for collecting and reprocessing marine plastic waste to boost their market presence.  

For instance, in March 2022, Aquafil to collect Fishing Gear and Nets in collaboration with Salmon de Chile and Atando Cabos S.p.A. to recycle Nylon 6 Material for reuse. The partnership's golas are to lessen the carbon impact of Chile's salmon sector and safeguard the oceans from ghost nets.

List of Key Players in the Market:

• Aquafil S.p.A.
• BIONIC
• Tide Ocean SA
• Oceanworks
• Textil Santanderina
• Envision Plastics
• OceanYarn
• Waste2Wear
• Unifi, Inc.
• SABIC
• Parley for the Oceans
• 4Ocean
• Patagonia, Inc.
• SEAQUAL INITIATIVE
• RSP Inc.

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• In September 2024, Scanfill launches new rPET from world’s coastal areas. A new product that satisfies strict quality criteria and helps to clean up coastal areas is the most recent in Scanfill's quality initiatives. The novel Prevented Ocean Plastic (POP) rPET material can, among other things, show a clearer transparency than other rPET because of the meticulous sorting and sensitive processing of the raw material.
• In August 2024, according to recent report by HP Development Company, the ocean floors are covered in 8 million metric tons of plastic trash per year, which is the weight of 57,000 blue whales and it travels through the ocean currents. Furthermore, the single-use plastic bottle that was just bought will take 450 years to break down.
• In July 2024, according to UNESCO, about 8-10 million metric tons of plastic ends up in the ocean each year, accounting for around 80% of total marine pollution. These plastics take 500-1,000 years to degrade, but they may not entirely disintegrate even then.
• In July 2024, Barbados's government has taken a significant step in the direction of sustainable environmental management with the introduction of its new National Action Plan to reduce plastic pollution. This ambitious plan, which was created in collaboration with the social business Common Seas, lays out a detailed plan to cut Barbados' plastic pollution by 73% over the course of the next ten years.

Analyst View:

The target market is expanding significantly due to increasing consumer demand for sustainable products and ongoing efforts to address plastic pollution and further the target market is expected to witness continued growth and innovation in product development over the coming years.

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