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Recycled Plastics Market : Popular Trends And New Business Opportunities 2027

Recycled Plastics Market

Recycled Plastics Market

Recycled plastics market is expected to be driven by the increasing concerns for disposing virgin plastic and growing awareness about energy saving is expected to drive demand for recycled plastics market over the forecast period (2019-2027).

Recycled plastics is produced from scrap or waste plastic and is further utilized in manufacturing various products such as storage containers, concrete, and PVC windows for building & construction, packaging, automotive, electrical & electronics, and textile industry. The aim of producing recycled plastics is to reduce pollution caused during manufacture of new or virgin plastics. The plastic recycling process helps to deal problems related to plastics disposal.

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According to Plastic Oceans International, more than 300 million of plastic is manufactured every year, consequently generating high demand for reuse, recovery, and recycling of plastics. Therefore, the recycled plastics market is expected to witness significant growth over the forecast period.

Market Taxonomy

On the basis of product type, the global recycled plastics market is segmented into:

Polyethylene Terephthalate (PET)
High Density Polyethylene (HDPE)
Low Density Polyethylene (LDPE)
Polyvinyl Chloride (PVC)
Others

On the basis of source, the global recycled plastics market is segmented into:

Plastic Bottles
Plastic Bags & Films
Synthetic Fiber
Rigid Plastics & Foams
Others

On the basis of end-use industry, the global recycled plastics market is segmented into:

Building & Construction
Textiles
Automotive
Electrical & Electronics
Packaging
Others

Based on product type, polyethylene terephthalate (PET), accounted for the largest market share in global recycled plastics market in 2018. Ease of raw material collection in the form of plastics bottle and easy recyclability are the major factors that are expected to drive growth of the PET segment.

High competition for new or virgin plastics is expected to hinder growth of the market over the forthcoming years. However, new innovations in recycling technologies results in cost-efficiency, offers new opportunities for recycled plastics players for expansion. Reliable detectors and recognition software are few of the latest technologies that help recycled plastics manufacturers to enhance accuracy and productivity in sorting plastics automatically. For instance, FT-MIR and FT-NIR spectrometer systems offered by Bruker Limited, helps recycling plastics manufacturers to achieve desired objectives by classify and identify recyclable materials more efficiently.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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