The Global Recycled Plastic Market is expected to reach a value of US$ XX billion by 2028, at a CAGR of XX% over the forecast period (2022 - 2028)

According to the latest research by SkyQuest Technology, the Global Recycled Plastic Market was valued at US$ XX billion in 2021, and it is expected to reach US$ XX billion by 2028, with a CAGR of XX% during the forecast period of 2022 - 2028. The research provides up-to-date Recycled Plastic market analysis of the current market landscape, latest trends, drivers, and overall market environment.

The industry's rise can be ascribed to a growing focus on lowering plastic waste quantities, as well as supportive government policies and programmes aimed at increasing the usage of recycled products and a growing awareness of energy conservation.
Plastic use has expanded as a result of global industrialization and commercialization, resulting in a large amount of plastic garbage. High levels of land- and marine-based pollution have resulted from high-volume waste generation and a lack of adequate disposal pathways. According to projections from the International Union for Conservation of Nature, at least 14 million tonnes of plastic will end up in the ocean every year by November 2021.

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Read market research report, "The Global Recycled Plastic Market is segmented based on Type, application, and region. Polyethylene Terephthalate (PET), Polyethylene (PE), Polyvinyl Chloride (PVC), Polypropylene (PP), Polystyrene (PS), and Others are the different types of plastic utilised in the market. Based on the application of plastic, the market is split into Food Packaging, Construction, Automotive, Electrical & Electronics, and Other sectors & By Region - Forecast and Analysis 2022-2028" by SkyQuest.
Polyethylene (PE) was the most popular product group in 2021, accounting for more than 31% of global sales. This high proportion is due to the rising need for packaging material in consumer goods, food and beverage, industrial, and other industries. It's found in laundry detergent containers, milk cartons, cutting boards, and garbage cans. In 2021, the packaging application category dominated the market, accounting for about 36% of total sales. The rise in demand for packaged meals and beverages, electrical and electronic devices, and textiles is responsible for this high percentage. The primary application areas driving category growth include personal hygiene equipment such as shavers and electric trimmers, as well as clothing and automobile components made from recycled plastics.
In 2021, Asia Pacific dominated the market, accounting for more than half of worldwide sales. As the demand for non-residential construction projects such as hospitals, schools, and colleges develops, the Asia Pacific construction sector is expected to grow considerably. As a result, demand for roofing tiles, insulation, fences, floor tiles, carpets, and a variety of other building materials will rise. In terms of revenue, Europe is second only to Asia Pacific. The adoption of a circular economy to reduce the carbon footprint associated with traditional plastic manufacturing is leading the industry. In Europe, landfill bans have resulted in an increase in plastic recycling. In terms of revenue, North America ranks third. The rise of major end-use sectors such as electrical and electronics, construction, and packaging is propelling the industry forward. Throughout the forecast period, rising demand for packaged and processed goods as well as a rapidly growing construction industry in the United States, Mexico, and Canada are likely to fuel market expansion.

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Report Findings
● Drivers- The economic viability of Plastics is driving the growth of its market. Also with the cost effectiveness, it provides good tensile strength as a carrier of goods and hence the demand of the product is huge. These are the key factors driving the growth of the market.
● Restraint- Recycled plastics are up against virgin plastics in terms of quality and applicability. Virgin plastics can be used in a variety of applications, including food-grade packaging where the food comes into direct contact with the plastic; recycled plastics do not provide the same benefit.

What does this Report Deliver?
● Market Estimation for 20+ Countries
● Recycled Plastic Market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional and Country specific Recycled Plastic Market Trends
● Comprehensive Mapping of Recycled Plastic Industry Parameters
● Attractive Investment Proposition in the Global Recycled Plastic Industry
● Competitive Strategies Adopted by Recycled Plastic Market Key Players
● Drivers, Restraints, Opportunities, Challenges and the impact on the Recycled Plastic Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and Recycled Plastic market insights of leading countries in each region
● In-depth Market insights by Region and Country
● Market Segmentation Trend Analysis, Opportunities and Growth
● Porter's five force analysis to know the market's condition
● Pricing Analysis and Recycled Plastic Market Sales
● Parent market analysis
● Product portfolio benchmarking

SkyQuest has segmented the Global Recycled Plastic Market based on Type, Applications and Region:
● Global Recycled Plastic market by Type (Revenue, US$ billion, 2021 - 2028)
o Polyethylene Terephthalate (PET)
o Polyethylene (PE)
o Polyvinyl Chloride (PVC)
o Polypropylene (PP), Polystyrene (PS)
o Others
● Global Recycled Plastic market by Application (Revenue, US$ billion, 2021 - 2028)
o Food Packaging
o Construction
o Automotive
o Electrical & Electronics
o Others

● Global Recycled Plastic market by region (Revenue, US$ billion, 2021 - 2028)

○ North America
■ US
■ Canada
○ Europe
■ Germany
■ France
■ UK
■ Italy
■ Spain
■ Rest of Europe
○ Asia Pacific
■ China
■ India
■ Japan
■ Rest of Asia Pacific
○ Central & South America
■ Brazil
■ Rest of CSA
○ Middle East & Africa
■ GCC Countries
■ South Africa
■ Rest of MEA

Key Players in the Global Recycled Plastic Market
● DS Smith Plc (UK)
● PETCO (US)
● KW Plastics (US)
● MBA Polymers Inc. (US)
● Reprocessed Plastic, Inc. (US)
● PLASgran Ltd (England)
● Custom Polymers (US)
● CarbonLITE Industries (US)
● Luxus Ltd (UK)
● Plastipak Holdings (US)
● Veolia (France)
● B. Schoenberg & Co. (US)
● Jayplas (UK)
● Alpek (US)
● Biffa (UK)
● Waste Connections, Inc. (US)

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This release was published on openPR.