Plastic Recycling Market 2019 to Cross Valuation of USD 53,598 Mn by 2023 With Global Leading Players- CarbonLITE, Seraphim Plastics, MBA Polymers, Kuusakoski, Envision Plastics, Custom Polymers, UltrePET, KW Plastics, Recycling Textile and Knebel Textilr

Global Plastic Recycling Market: by application (Packaging, Construction, Textile, Automotive, Others), by material (Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polypropylene (PP), Others), by recycling process (mechanical, chemical) and Region – Forecast to 2023

CarbonLITE Industries, Seraphim Plastics, MBA Polymers Inc., Kuusakoski Group Oy, Envision Plastics, Custom Polymers, Inc., Plastic Recycling Inc., UltrePET LLC, KW Plastics, Inc., Green – O – Tech India, Kishco Pvt. Ltd., Boer Group, Miller Waste Mills, Inc., Recycling Textile sro, and Knebel Textilrecycling GmbH.

This MRFR report evaluates past trends, latest developments, key players’ market share analysis, ongoing industry trends, market dynamics, and foresight. Market factor analysis is also included in the report which encompasses Porter’s five forces analysis, and supply chain analysis. The scope of the study also covers segmental and regional analysis of the plastic recycling market along with a country-level assessment of each segment.

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Market Highlights

According to the assessment offered by Market Research Future (MRFR), the global plastic recycling market is set to reach a valuation of USD 53,958 by 2023-end from USD 36,966.5 Mn in 2017. It is expected to strike a CAGR of 6.61% during the forecast period 2018 to 2023. Recycling plastic waste is an economically viable option at present as petroleum price is constantly on the rise. Furthermore, it ensures optimum waste management, which is likely to favor the expansion of the market in the foreseeable future.

The growing demand for plastic from different end-user industries has intensified the need for its recycling. It has been noted that approximately 269 million tons of plastics were produced in China in 2015. It has encouraged governments to frame favorable regulations aimed at motivating the recycling of plastic waste. Furthermore, the impact of plastic waste on the environment is also anticipated to have a positive influence on the expansion of the plastic recycling market over the next couple of years.

Recycled plastic waste has paved way across different industry verticals for a wide spectrum of applications. Rapid urbanization and technological advancements are forecasted to expedite the proliferation of the plastic recycling market in the forthcoming years. On the flip side, a lack of awareness about recycling is likely to restrict the growth of the market across the projection period.

This MRFR report offers a segmental analysis of the plastic recycling market based on application, material, and recycling process. By application, the market has been segmented into packaging, construction, textile, automotive, and others. Among these, the packaging segment is likely to maintain its pole position through the projection period. It is estimated to value at USD 21,195.4 Mn towards the end of 2023. Meanwhile, the construction segment is expected to witness an upsurge in demand and mark a relatively higher CAGR of 7.29% over 2023.

By material, the plastic recycling market has been segmented into polyethylene terephthalate (PET), high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), and others. The polyethylene terephthalate (PET) segment held a major share of the global market in 2017 accounting for 29.91% share. It is anticipated to become the fastest growing market expanding at a CAGR of 7.96% during the forecast period. Also, the high-density polyethylene (HDPE) segment is poised to exhibit immense potential expanding at 7.03% CAGR over 2023 owing to its growing demand in industrial processes.

By recycling process, the global market has been segmented into mechanical and chemical. Among these, the mechanical segment is expected to command the maximum share of the plastic recycling market in the upcoming years. Meanwhile, the chemical segment is projected to thrive at a higher CAGR of 7% over the assessment period.

Regional Analysis:

The regional analysis of the global plastic recycling market spans across Asia Pacific, Americas, Europe, and the Middle East & Africa. Asia Pacific is currently dominating the global market and is supposed to hold its pole position through the forecast period. The valuation of the regional plastic recycling market is estimated to grow from USD 17,316.9 Mn in 2017 to 26,649 Mn towards the end of 2023 striking a relatively higher CAGR. The growth of the market in Asia Pacific can be ascribed to factors such as rapid economic development, exponentially increasing population, and enforcement of favorable regulations.

Americas is poised to trail Asia Pacific in terms of market size. It is projected to mark a CAGR of 6.22% over the assessment period. The plastic recycling market in Americas is prognosticated to benefit from the advancements in recycling technology and growing awareness about waste management.

Europe has secured the third spot in the global plastic recycling market and is expected to reach a valuation of USD 10,818.7 Mn towards the end of 2023. It has been estimated that the volume of plastic waste collected for recycling in Europe has increased by 79% from 2006 to 2016. The region resonates strong potential for market growth and is anticipated accelerate revenue creation for key players in the foreseeable future.

The Middle East & Africa is likely to account for the least share of the global plastic recycling market in the forthcoming years. It is poised to exhibit limited but constant growth during the review period. Although the use of plastic has grown significantly in the region, the rate of recycling plastic waste is yet to gain momentum.

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Table of Contents

1 Executive Summary

2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure

3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model

4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Increasing Use of Plastic in the Packaging Industry
4.2.2 Government Support for Recycling Plastic
4.2.3 Impact of Plastic Disposal on the Environment
4.3 Restraint
4.3.1 Lack of Awareness Regarding Recycling
4.4 Opportunities
4.4.1 Ban on Import of Plastic Waste by Emerging Economies
4.4.2 Use of Recycled Plastic in Various Industries

5 Market Factor Analysis
5.1 Technological Advancements
5.1.1 Pumping Oil Out of Plastic
5.1.2 Conversion of Plastic Bags Into Useful Products
5.1.3 Aluminum Separation
5.1.4 Polystyrene-to-styrene Monomer (Psm) Technology
5.1.5 Biodegradable Bugs
5.2 Supply Chain Analysis
5.2.1 Waste Collection
5.2.2 Sorting and Shredding
5.2.3 Plastic Molding
5.2.4 End-use Industries
5.3 Porter’s Five Forces Model
5.3.1 Threat of New Entrants
5.3.2 Bargaining Power of Suppliers
5.3.3 Bargaining Power of Buyers
5.3.4 Threat of Substitutes
5.3.5 Intensity of Rivalry

Continued.........

List of Tables

Table 1 Market Synopsis
Table 1 List of Assumptions
Table 2 Global Plastic Recycling Market, by Application, 2016-2023 (Usd Million)
Table 3 Packaging: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 4 Construction: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 5 Textile: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 6 Automotive: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 7 Others: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 8 Global Plastic Recycling Market, by Material, 2016-2023 (Usd Million)

Continued......

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