The recycled HDPE market had a surplus of materials in 2023, causing prices to decrease in the second half of 2023. In 2024, pellet prices began to slowly increase throughout the year.

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On average, recycled HDPE resin prices were down an average of 15 cents per pound for the quarter, according to market sources in discussion with Plastics News.

Sadly, plastic recycling rates in the U.S. are shockingly low: 29.1% for PET bottles and 29.3% for HDPE bottles in 2018, according to the EPA. So, many of us often choose the latter option.