Press release
Bioplastics to be the flagbearer to the chemical vertical to drive the Recycled Plastics Market
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Company Profiles:
B.SCHOENBERG & CO., INC.
REPLAS
Advanced Environmental Recycling Technologies, Inc.
Clear Path Recycling
Wellman Advanced Materials
Reprocessed Plastic , Inc.
PLASgran Ltd
Custom Polymers
CarbonLITE Industries
Luxus Ltd
Butler-MacDonald
KW Plastic , Inc.
wTe Corporation
Envision Plastic Industries LLC
Kuusakoski
Shanghai PRET
Others.
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Recycled Plastics Market
Resin Type - PET and HDPE Segment Critical in Recycled Plastic Market
The polyethylene terephthalate and high density polyethylene resin types had a market share approaching 2/3rd of the recycled plastic market and should gain 180 and 40 BPS respectively, largely at the expense of other resin types. Polyethylene terephthalate is popular primarily on account of its low price and versatility. Similarly, a large portion of the plastic generated including margarine tubes, grocery bags, and detergent bottles contain HDPE resins.
Application - Packaging Industry Demands Great Deal of Recycled Plastic
The packaging industry is anticipated to hold the maximum share in the recycled plastic market by application type in terms of both value and volume. There is heavy demand for recycled plastic in the packaging industry because most waste
is generated by the packaging sector and then recycled to manufacture PET containers, bottles, carpet fibers, and clothes. The packaging industry is predicted to record a CAGR of 4.8% throughout the forecast period. Companies such as Nestle and Coca Cola have begun to use recycled plastic bottles for packing beverages and they have pledged to use more recycled plastic content in their beverage bottles instead of virgin plastic.
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