openPR Logo
Press release

Tremendous Growth in Plastic Recycling Market 2021 witness exponential growth by 2027

Plastic Recycling Market: Overview
• Recycling plastic waste is a complex issue to which no real solution has proven to be completely effective and environmentally responsible. Many recycling techniques have in fact proven to be rather expensive, energy inefficient, and as harmful to the environment, if not more, as plastic itself.
• The global population continues its exponential rise and economic and industrial activities thrive at an even faster rate. This has made the issue of recycling plastic waste, which accounts for a large portion of total waste generated on everyday basis from several sources, is becoming increasingly severe.
• Thus, continuous research activities are being undertaken across the globe with an aim of finding an effective method of recycling plastic waste or gaining something beneficial from the process.
• According to the report, the global plastic recycling market will register a promising 6.8% CAGR over the period between 2019 and 2027, rising from a valuation of US$34 Bn in 2019 to a revenue opportunity of US$60 Bn by 2027.
Request A Sample-

What are Key Growth Drivers of Global Plastic Recycling Market?
• Plastic is a functional and sustainable material. It has replaced several materials, such as metal, concrete, and wood, as it is lightweight, corrosion proof, economical, and esthetically appealing. Plastic manufacture requires less energy.
• The global production of plastic stood at 359 million tons in 2018 and is estimated to have a tremendous growth over forecast years
• Rise in demand for plastics is projected generate large amounts of plastic trash. This, in turn, is likely to boost the plastic recycling market.
• The global plastic packaging industry has been expanding at a rapid pace. It is expected to reach US$ 375 Bn by 2020. Growth in the plastic packaging industry is anticipated to propel the production of plastic waste. Most packaging, especially in the food & beverages industry, have a short life. This results in significant production of plastic trash.
• Efficient disposal of the generated waste is pivotal. Recycling offers the best solution for economical and eco-friendly disposal of plastic, as landfilling is hazardous to the environment.
What are Key Challenges for Global Plastic Recycling Market?
• Several countries do not have an established waste collection and sorting system for solid waste. 10% of the total waste produced in Africa is channeled into the collection system.
• The remaining 90% of the waste lies unaccounted for and usually ends up in oceans and river streams.
• Moreover, more than 8 million tons of plastic waste is estimated to end up in oceans. This is anticipated to hamper the recycling market, as collection and sorting of plastic waste is the first and crucial step in plastic recycling.
Lucrative Opportunities for Players in Global Plastic Recycling Market
• Demand for recycled PET and HDPE is increasing due to the low costs of recycled plastics. Plastic recyclers focus on PET and HDPE recycling and re-processing owing to their large demand and wide application in packaging, textiles, and construction industries.
• Recyclers also need to focus on competitive pricing, as prices of virgin plastics are decreasing significantly over the last few years.
• Recycled plastics can be used in consumer goods. These can be employed in several products such as kitchen tools, home furniture, general gadgets and appliances, cloth hangers, footwear, and personal care products.
• The consumer goods industry has been expanding at a significant pace across the globe. This creates significant opportunities for the plastic recycling market
Asia Pacific to Dominate Global Plastic Recycling Market
• Asia Pacific dominated the global plastic recycling market in 2018. The plastic recycling market in Asia Pacific is fragmented; family-owned small scale recyclers primarily operate in the market.
• Asia Pacific imports and recycles significant amount of plastic trash due to the lenient government regulations and cheap labor prevalent in the region. China is the major hub for plastic recycling; however, the country recently announced a permanent ban on the import of plastic waste.
• The market in Europe is also likely to exhibit a promising pace of expansion over the forecast period owing to the strict regulations regarding the reuse of recyclable plastics in the region. The region is presently recycling nearly 4.4 mn tons of plastic waste every year owing to the several regulations that put a ban on discarding plastic waste into landfills. Moreover, the rising awareness regarding the need to recycle for the protection of environment also works well for the regional market.


Transparency Market Research

State Tower,

90 State Street,

Suite 700,

Albany NY - 12207

United States

USA - Canada Toll Free: 866-552-3453



About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Tremendous Growth in Plastic Recycling Market 2021 witness exponential growth by 2027 here

News-ID: 2397329 • Views: 241

More Releases from Transparency Market Research

Exclusive Strategic Report on Centrifugal Fan Wheels Market to Eclipse USD 500 M …
COVID-safe Ventilation Prevents Disease Transmission in Buildings, Workplaces As coronavirus restrictions are being relaxed in countries such as China, Australia, Israel, and New Zealand, there is a need for COVID-safe ventilation at workplaces and factories as staff and other individuals return to work. Apart from focusing on essential industries including power generation, oil & gas, and steel sectors, companies in the global centrifugal fan wheels market are diversifying their products and
Future Analysis and Scope of Ammonium Sulfate Market to Drive Huge Growth betwee …
Companies Ensure Business Continuity in Fertilizer Supply during COVID-19 Pandemic Although most companies are facing a slowdown in business activities, companies in the India ammonium sulfate market such as the Fertilisers and Chemicals Travancore Limited or FACT have administered record profit despite the COVID-19 pandemic. Such findings are grabbing the attention of Indian manufacturers who are increasing efforts to ensure business continuity in fertilizer supply and additive supply. As such, third
Analysis on the Global Performance Minerals Additives Market (2020-2024) by Usag …
Mission-critical Projects in Packaging Create Business Opportunities during COVID-19 Crisis The coronavirus pandemic has affected almost all end markets, whilst not sparing the performance minerals additives market. Performance minerals additives are virtually found in all applications of construction, packaging, and automotive industries. However, the growth of these industries is affecting the performance minerals additives market. In order to stay afloat during the COVID-19 outbreak, manufacturers are focusing on essential industries such
Revenue Growth of the Cyclic Olefin Copolymers Market to be Influenced by Growin …
COC Proving Better Alternative to PC, PMMA Cyclic olefin copolymers (COC) are high-temperature polymers with exceptional optical properties, reliable chemical and heat resistance, and superior dimensional stability. Since its introduction decades ago, it has become a popularly used material in medical and packaging applications. The remarkably high purity and distinct properties of COC have made it the dominant material in advanced diagnostic and microfluidic utilization. The use of cyclic olefin copolymers

All 5 Releases

More Releases for Plastic

Recycled Plastic and Plastic Waste to Oil Market Report, 2027
Albany, NY - Global Recycled Plastic and Plastic Waste to Oil Market: Key Highlights • The global recycled plastic and plastic waste to oil market was valued at ~US$ 37 Mn in 2018, and it is anticipated to expand at a CAGR of ~10% during the forecast period. • Among the fuels, the diesel segment held a dominant share of the global recycled plastic and plastic waste to oil market in 2018, primarily due
Plastic Pails (Plastic Bucket) Market Size and Analysis by Regions
MarketResearchReports.Biz adds “Global Plastic Pails (Plastic Bucket) Market Share, Size, Trends and Forecast Market Research Report” reports to its database. This report provides a strategic analysis of the Plastic Pails (Plastic Bucket) and the growth estimates for the forecasted period. A plastic pail is a type of container made from plastic that is employed in carrying out various applications ranging from construction, housing, shipping, to food and beverages. It is also
Yazheng Plastic Netting combined type plastic netting machine
Yazheng Plastic Netting developed combined type plastic netting machine.The combined type plastic netting machine can produce plastic deer fencing, anti bird netting, erosion control netting and plastic filtration netting. The combined type plastic netting machine is 30m long, it is be composed of polypropylene grinding miller, extruding machine, high temperature machine, stretch machine, rolled machine and cut machine. The horizontal thread and vertical thread of nettings that produced by
Recycled Plastic & Plastic Waste to Oil Market Analysis : TMR
There is a growing need for recycling the plastic and plastic waste. Various major companies are now concentrating on developing new waste-conversion technologies. Some of the major corporates in the global recycled plastic and plastic waste to oil market are Agilyx Inc., Cynar Plc, Vadxx Energy LLC, Nexus Fuels LLC, Clean Blue Technologies Inc., JBI Inc., RES Polyflow, PK Clean, Plastic Advanced Recycling Corporation (PARC), and MK Aromatics Ltd. These
Recycled Plastic & Plastic Waste to Oil Market Forecast 2016 - 2024
The recycled plastic & plastic waste to oil market report by Transparency Market Research provides in-depth analysis of the recycled plastic & plastic waste to oil market globally. The report segments the market on the basis of plastic type, technology, end-fuel, and geography. The report analyzes the global recycled plastic & plastic waste to oil market in terms of revenue (US$ Mn) for the 2016–2024 period. For this research study,
Plastic Free Packs Market: Environment Friendly Solution to Plastic Waste
The environmental threat caused by plastic waste has forced the packaging industry to invest in plastic-free packs. The use of plastics in food packaging can cause harmful side-effects to human metabolism and hence manufacturers in food and beverage sector are investing in sustainable packaging. The beauty and cosmetic products industry are also investing in sustainable development of their products and packaging. The packaging industry is focusing on the use of