Ocean Bound Plastics Market Know the Untapped Growth Opportunities to 2030

Market Scope

Market Research Future (MRFR) expects the Ocean Bound Plastics Market to record a CAGR of 3.50% from 2021 to 2030.

Get Sample @ https://www.marketresearchfuture.com/sample_request/10906

Chief Boosters and Major Deterrents

Following the COVID-19 outbreak, the use of single-use plastics surged for hygiene reasons with a higher preference for fossil fuel-derived, lower-priced virgin polymers than the less-available and higher-priced recycled materials. Sustainability is once again the top trend, giving a significant push to the demand for ocean-bound plastics. These are plastic wastes that are within 37 miles of a waterway or coastline, which might be at risk of contaminating the ocean. Ocean bound plastics are garnering small but substantial traction in industries like packaging, automotive, building and construction, and more.

The plastic waste generation in the US has surged considerably to forty-seven million metric tons per year. This is much more than the total waste amount produced by all the countries in Europe combined. Moreover, the U.S. generates three to nine times higher municipal waste than any other nation worldwide. The country's recycling capacity is not enough with the massive surge in plastic waste.

A major opportunity has emerged in the form of plastic roads, which is one of the latest concepts that present lucrative opportunities to manufacturers.  Plastic roads need less time to be built and are much more durable than traditional roads. It involves modular, hollow, and prefabricated road structures that are developed using recycled plastic. Recycled plastic is considerably lightweight and makes the building of plastic roads faster, more efficient, and simpler.  

TABLE OF CONTENTS

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.3 List Of Assumptions

2.4 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Factor Analysis

4.1 Supply Chain Analysis

4.1.1 Raw Form Suppliers

4.1.2 Manufacturers/Service Providers Of Ocean Bound Plastics

4.1.3 Distributors/Retailers/Wholesalers/E-Commerce Merchants

4.1.4 End-User Industries

4.2 Porter's Five Forces Model

4.2.1 Threat Of New Entrants

4.2.2 Intensity Of Rivalry

4.2.3 Threat Of Substitutes

4.2.4 Bargaining Power Of Suppliers

4.2.5 Bargaining Power Of Buyers

4.3 Pricing Analysis

Continue...

Segmental Analysis

Key resin types discussed in the MRFR study include polypropylene, polyethylene, polyethylene terephthalate (PET), and more.

PET is the most sought-after plastic worldwide, owing to its high thermostability, strength, low price, transparency, resealability, lightweight, recyclability, and shatter resistance.

The industry end-users are building & construction, packaging, automotive, electronics, and others.

During the evaluation timeline, the packaging segment will attain the fastest CAGR out of all the end-users, given the escalating use of recycled plastics in the food and beverage packaging sector. This could be owing to the rise in technological innovations making recycled resins apt for use in food applications.

Regional Outlook

North America is the market for ocean bound plastics, backed by the already thriving plastic sector in the US. The widespread use of innovative technologies in the country, and the tremendous recycling rate of 29.6% will ensure sustained market growth in the years to come.

Asia Pacific could record the fastest growth in the coming years, thanks to the burgeoning population, accelerated industrialization rate, and government initiatives pertaining to waste recycling. However, the most important factor may be the rising advances in recycling technology, which is raising foreign direct investment (FDI), leading to considerable market growth.

Read More @ https://www.marketresearchfuture.com/reports/ocean-bound-plastics-market-10906

Leading Firms

Some prominent global Ocean Bound Plastics market players include SUEZ, Unifi, Inc., KW Plastics, Method Products, PBC, Veolia, B&B Plastics Inc., Oceanworks, Jayplas, and Plastipak Holdings, Inc.

The established companies in the market have huge manufacturing bases that allow them to cater to diverse end users in much less time compared to the small-scale developers. This gives them a notable competitive edge in the worldwide market. Moreover, most manufacturers constantly carry out R&D activities for creating innovative products and technologies and are also focused on expanding their manufacturing facilities to meet evolving needs of end-users. The majority of the manufacturers are participating in long-term contracts with major stakeholders to enhance their shares in the worldwide market, which should indirectly lead to immense growth in the following years.

Latest News

May 2022

Sabic debuts its latest line of polybutylene terephthalate engineering plastic, which makes use of ocean-bound polyethylene terephthalate bottles as a major feed channel for chemical upcycling into resins. This new line, LNP Elcrin WF0061BiQ, is the company's latest addition to its range of LNP Elcrin iQ materials. This will help facilitate circularity while serving as a great alternative to virgin PBT resins.

Browse More Reports:

https://www.marketresearchfuture.com/reports/ferric-chloride-market-8029 

https://www.marketresearchfuture.com/reports/magnesium-sulphate-market-2282 

https://www.marketresearchfuture.com/reports/diphenylamine-market-4550 

Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: sales@marketresearchfuture.com

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

This release was published on openPR.