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Ongoing R&D innovations and their impact on Recycled Thermoplastic Market

05-28-2021 08:54 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Recycled Thermoplastic Market

Recycled Thermoplastic Market

Reports estimate that global recycled thermoplastic market size will surpass an annual valuation of over US$95 billion by 2025, with growing number of innovations in the industry and increasing product application across various end-use sectors. Polyethylene (PE), polypropylene (PP), polystyrene (PS), polyethylene terephthalate (PET), and polyvinyl chloride (PVC) are some of the commonly used recyclable polymers.

The increasing rate of plastic waste generation worldwide, especially in urban areas, coupled with undesirable disposal practices, are among the leading environmental concerns today. However, one of the biggest advantages of thermoplastic materials over thermosetting plastics is their recyclability, which is why they are extensively preferred across a broad range of industries including building & construction, automotive & transportation, electrical and electronics, packaging, and medical.

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Recycled Thermoplastic Market | Positive outlook towards thermoplastic recycling

Thermoplastics have a positive application outlook in numerous industries on account of excellent strength, lightweight, flexibility, shrink resistance, high impact resistance, and recyclability. However, in recent years, mounting environmental concerns and shifting focus towards environmental sustainability has created a significant need for ecofriendly practices in the industry, including recycling of thermoplastic composite materials.
Manufacturers have been relying on several growth and expansions strategies including collaborations and partnerships that aim to promote thermoplastic recycling. Recently for instance, in September 2020, Spartanburg-based Milliken & Company disclosed plans to join the Polypropylene Recycling Coalition, an industry collaboration formed by the The Recycling Partnership aimed to improve US’s polypropylene plastic recovery and recycling.

During the same month, Ineos Styrolution, AmSty, and Trinseo had teamed up to promote polystyrene recycling. Apparently, this represents the first combined effort to develop advanced recycling technologies and optimize them for commercial application to achieve a circular economy in polystyrene recycling.

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Recycled Thermoplastic Market | Future developments in recyclable thermoplastics

Thermoplastic polymers and their derivatives are capable of meeting specific requirements of a wide range of production materials at low cost. These materials can maintain their chemical and physical characteristics in all temperatures and environments. Thermoplastics will continue to serve as a major component across myriad end-use sectors in the near future, which is why their recycling is becoming more and more important.

Custom Polymers, Fresh Pak Corporation, RJM International Inc., United plastic recycling, B. Schoenberg & Co., Envision Plastics, APC recycling, Maine plastics incorporation, Plastipak Holdings, Suez, PARC corporation, B&B Plastics, KW Plastics and Veolia are some of the notable recycled thermoplastic producers across the globe.

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Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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