Recycled Plastics (Plastic Recycling) Market Share, Size | Growth Rate (CAGR) of 15.54%

November 23 15:50 2022
Recycled Plastics (Plastic Recycling) Market Share, Size | Growth Rate (CAGR) of 15.54%
Global Recycled Plastics Market Driven by Adoption of Sustainable Plastic Disposal Solutions

IMARC Group has recently released a new research study titled “Recycled Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, offers a detailed analysis of the global recycled plastics market growth, market drivers, segmentation, opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What is the market for recycled plastic?

The global recycled plastics market size reached US$ 3 Billion in7.75 2021. Looking forward, IMARC Group expects the market to reach US$ 51.15 Billion by 2027, exhibiting at a CAGR of 5.09% during 2022-2027.

What is a Plastic Recycling?

Plastic recycling represents the process of reusing and recovering plastic waste or scraps as functional and valuable products. It includes sorting, washing, shredding, identifying, classifying, extruding, and reprocessing post-industrial plastics. Recycled plastic aids in saving natural resources that are used for producing virgin plastics, clearing landfill space, conserving energy, etc. Consequently, it is extensively utilized in the manufacturing of footwear, fabrics, toys, bags, toothbrushes, numerous consumer products, etc., across the globe.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Request and get a sample brochure for free: https://www.imarcgroup.com/recycled-plastics-market/requestsample

What are the major market drivers in the Recycled Plastics market?

The rising consumer environmental consciousness towards the harmful effects of plastic waste is primarily augmenting the recycled plastics market. Furthermore, the implementation of various stringent regulations by government bodies across countries to minimize waste production, promote the reuse and recycling of plastic scraps, encourage sustainable waste treatment, etc., is positively influencing the global market. Apart from this, the expanding global population is resulting in the increasing construction activities of residential and commercial complexes, which is acting as another significant growth-inducing factor.

Moreover, the widespread adoption of plastics to produce several components of automobiles and extensive R&D activities are also bolstering the market growth. Besides this, the inflating sales of passenger and commercial vehicles are further catalyzing the global market. Additionally, busy schedules of working population and the growing income levels of individuals are propelling the demand for ready-to-eat (RTE) and processed food products, thereby stimulating the market growth. In line with this, leading manufacturers are focusing on adding value and consumerism to these items, which is expected to fuel the recycled plastics market in the coming years.

Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=841&flag=C

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Plastic Type:

  • Polyethylene Terephthalate (PET)
  • High Density Polyethylene (HDPE)
  • Polypropylene (PP)
  • Low Density Polyethylene (LDPE)
  • Others

Breakup by Application:

  • Non-Food Contact Packaging
  • Food Contact Packaging
  • Construction
  • Automotive
  • Others

Breakup by Raw Material:

  • Plastic Bottles
  • Plastic Films
  • Rigid Plastic and Foam
  • Fibres
  • Others 

Regional Insights:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

List of Major Key Players:

The major players in the market are 

  • Avangard Innovative
  • B. Schoenberg & Co., Inc.
  • Delta Plastics
  • UltrePET LLC
  • CarbonLITE Industries
  • Veolia
  • Suez Recycling & Recovery Holdings
  • KW Plastics (KW)

 

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