Recycle Plastic Market by Resin Type, Size, Source, Top Industry Key Players Analysis Report 2018 - 2024

Recycle Plastic Market by Resin Type, Size, Source, Top Industry Key Players Analysis Report 2018 - 2024

Plastic recycling is the process of recovering scrap or waste plastic and reprocessing the material into useful products. The plastic material is non-biodegradable moreover, recycling is a process used to reduce plastic wastage as it is harmful to the environment. Recycled plastic is mostly used in packaging, construction, and automotive products.

Recycle Plastic Market Outlook:
The global market is estimated and forecasted in terms of volume (KT) revenue (USD million) generated by the recycled plastic market. Rising concern of people on the negative impact of plastic waste & disposal and rapid industrialization which leads to increasing plastic waste is expected to drive the global recycled plastic market over the forecast period. The market growth is driven by growing prospects for recycled plastic and growing environmental concerns which creates land pollution. Moreover, stringent government policies with respect to waste plastic treatment coupled with growing awareness regarding energy saving are anticipated to further boost the market growth. However, the excessive cost associated with the recycling process and increasing demand for virgin plastic are the major factors hindering the growth of this market.

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Recycle Plastic Market Segmental Overview:
The global recycle plastic market is segmented into resin type, source, end-user industry, and geography.

Recycle Plastic Market by Resin Type:
Based on resin type, the recycled plastic market is categorized into polyethylene terephthalate, polyethylene, polypropylene, polyvinyl chloride, polystyrene, and others. The polyethylene terephthalate segment held the largest market share in terms of value in 2017. The largest share of polyethylene terephthalate in the market is primarily attributed to availability at less cost as compared to other resins and ease of recyclability.

Recycle Plastic Market by Source:
Based on the source, the recycled plastic market is bifurcated into, plastic bottles, plastic films, rigid plastic & foam, synthetic fiber, and others. In 2017, the plastic bottle segment leads the recycled bottle segment and is anticipated to register for the highest CAGR during the projected period. The largest market share is primarily attributed to increasing use and demand for plastic bottles in the various end-user industry including industrial, pharmaceutical and food & beverage and increasing production of plastic bottles globally.

Recycle Plastic Market by End-User Industry:
The report analyses the global recycled plastic market based on end-user industry into automotive, textile, building & construction, electrical & electronics, packaging, and others. The packaging segment dominated the global recycled plastic market in 2017. The packaging segment is the largest consumer of recycled plastic. Likewise, recycled PET and HDPE is increasingly used in primary packaging by retailers and branded manufacturers for bottles and trays which further robust the growth of the packaging segment in the global recycling market.

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Recycle Plastic Market by Geography:
The global recycled plastic market is studied across key regions including North America, Europe, Asia Pacific and Rest of the World. Rest of the world includes Latin America and Middle East & Africa. The Asia Pacific is expected to remain the largest market and witness the highest growth over the forecast period, owing to rapid development in the industrial sectors, increasing consumer demand and flourishing manufacturing sector in developed and developing countries which includes China, Japan, and India. Moreover, the rising concern for waste management and increased government expenditure will further boost the market growth in the region.

Recycle Plastic Market Key Players:
Key players of the global recycled plastic market include B. Schoenberg & Co., Inc, REPLAS, Clear Path Recycling, Wellman Advanced Materials, Reprocessed Plastic, Inc, PLASgran Ltd, CUSTOM POLYMERS, CarbonLITE Industries, Luxus, Butler-MacDonald, KW Plastic, Inc, Envision Plastic Industries LLC, Kuusakoski, Shanghai PRET, etc. Strategies such as new product development, agreements and mergers are adopted by key market players to strengthen their market shares in the global recycled plastic market.

Key Questions Answered in Report:
•What is the future scope of global Recycle Plastic Market up to 2024?
•What are the challenges to market growth?
•Who are the key vendors in the global Recycle Plastic Market?
•What will the market size and the growth rate be in 2024?
•What are the key market trends impacting the growth of the global Recycle Plastic Market?

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