Recycled Plastic Market is Expected to Witness Speedy Growth of USD 56.81 billion, Size, Trends, Statistics, Key Players and Forecast 2029

Recycled Plastic Market Overview:

Recycled plastic is used for the production of light-weight components that are used across various industries such as construction, packaging, and electronics. The rapid growth of the e-commerce across the globe has resulted in the increased sales of various consumer goods. The rising sales through e-commerce has rapidly increased the demand for various packaging products. Therefore, the demand for the recycled plastic is growing rapidly for the packaging of goods. Furthermore, the increasing popularity of purchasing electronics such as laptops, mobile phones, and tablets via e-commerce has exponentially increased demand for recycled plastic as a packaging material around the world. As a result, increased demand from the packaging industry is expected to drive the global growth of the recycled plastic market.

The global Recycled Plastic market size was stood at an estimated revenue of USD 25.52 billion in 2020, which is projected to USD 56.81 billion by 2029 advance at a CAGR of 9.3% during 2022-2029.

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Recycled Plastic Market Key Players

The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are Indorama Ventures Public Ltd. (Thailand), Veolia (France), Suez (France), Jayplas (UK), Alpek (Mexico), Biffa (UK), Republic Services (US), Stericycle (US), Far Eastern New Century Corporation (Taiwan), KW Plastics (US), B. Schoenberg & Co. (US), B&B Plas and Others

Recent Development

In December 2021, Veolia completed the acquisition of SUEZ to become the world champion of ecological transformation.
In July 2021, Jayplas teamed up with the Co-op Supermarket Chain to run Europe's most comprehensive in-store recycling program for plastic bags and product packaging.
In June 2021, Indorama Ventures Public Ltd. acquired CarbonLite Holdings' facility in Texas as part of the company's commitment to increasing PET recycling capacity.
In May 2021, Mura Technology, a U.K.-based plastic recycling service provider, built the world's first commercial-scale recycling plant that uses chemical recycling and generates a profit in Teesside, northeast England.

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Recycled Plastic Market Segmentation:

Recycled Plastic Market by Type, 2020-2029 (In USD Million, Kilotons)

Pet
High-Density Polyethylene
Polypropylene
Low-Density Polyethylene
Others

Recycled Plastic Market by Application, 2020-2029 (In USD Million, Kilotons)

Non-Food Packaging
Food Packaging
Construction
Automotive
Others

Growth Factors:

Increasing demand from the Recycled Plastic industries
The growing use of Recycled Plastic in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Recycled Plastic Market

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Recycled Plastic Market Regional Analysis

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Key Recycled Plastic Market Trends

- The report identifies, determines, and forecasts the Global Recycled Plastic Market segments based on their type, sub-type, technology used, applications, end-users, and regions.

- Industry to Industry Holds Largest Share in the Recycled Plastic Market

- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.

- Demand from Regional / geographical is expected to drive the Growth

- Rising Adoption of Market Segments in the Recycled Plastic Growth

- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Recycled Plastic Market.

Frequently Asked Questions

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