Press release
Recycled Thermoplastic Market is Thriving Worldwide with Leading Players Like Veolia, SUEZ, Plastipak Packaging, Inc., Maine Plastics, KW Plastics and KW Plastics Recycling Division, Clear Path Recycling LLC
Recycled Thermoplastic Market
The key recycled thermoplastics market players include KW Plastics, PARC Corporation, B. Schoenberg and Co., Plastipak Holdings, Inc, Custom Polymers Inc., Suez SA, Merlin Plastics Alberta Inc., Revital Polymers, Ricova International Inc., RJM International Inc, JP Industrial, MRC and others.
On the basis of revenue, polyvinyl chloride (PVC) witness the CAGR of more than 8% from 2018 to 2025. Product properties such as dimensional stability, resistance to weathering and electricity makes it suitable to produce extruded wire coatings, pipes, toys, bottles, fabric coatings, films, doors, windows components, etc. These products found their application in myriad end use industries thus increasing the sales of product in near future.
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On the basis of region, China recycled thermoplastic market will witness CAGR of more than 8% in coming years with revenue of more than USD 5 billion by 2025. Rise in population along with improvement in standard of living will significantly enhances the electrical & electronics, furniture & housewares industry in the country, thus influencing the demand of the product in positive manner in the region.
Recycled Thermoplastics Market by Technology
• Extrusion
• Injection Molding
• Blow Molding
• Film Molding
• Others
Recycled Thermoplastics Market by Application
• Packaging
• Automotive & transportation
• Building & construction
• Electrical & electronics
• Agriculture & horticulture
• Furniture & housewares
• Medical
• Others
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Expansion in electrical & electronics industry in North America is one of the contributing factor that will positively influence the overall recycled thermoplastic market size in coming years. Recycled thermoplastics is used in electrical & electronics industry for cable & wire insulation, cable trunking, refrigerator trays/linings, tv cabinets, kettles, etc. Global production of the electrical & electronics industry was worth more than USD 4.5 trillion in the 2017 and the U.S. alone holds 10% of the global share making it the second largest producer in the world.
Increasing household spending along with technological advancements in the telecommunication & IT sector will act as a contributing factor that will bolster the electrical & electronics industry growth specifically in North America region. The aforementioned trends are expected to continue driving the recycled thermoplastic market over the forecast period.
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Automotive & transportation shows a decent growth in the application segment with the CAGR of about 10% in the forecast spell. Increased affordability due to surge in income of population, easy availability of cheap skilled labors and technology modernization to improve fuel efficiency will boost the automotive & transportation industry and this in turn will escalate the product sales in future.
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