Europe Recycled Plastics Market Poised to Reach 16.4 Million Tons 2023-2028, Driven by Impressive 5.2% CAGR

According to IMARC Group latest report titled "Europe Recycled Plastics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on Europe Recycled Plastics market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The Europe recycled plastics market size reached 12.1 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 16.4 Million Tons by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Recycled plastics are a sustainable solution aimed at mitigating environmental concerns associated with plastic waste. They encompass a range of products derived from post-consumer or post-industrial plastic waste. They are transformed through various processes to create materials suitable for diverse applications. These recycled materials find application in an array of industries, such as packaging, construction, automotive, and consumer goods, making them a versatile resource. The advantages of recycled plastics are multifaceted, with environmental benefits at the forefront. They reduce the demand for virgin plastic production, conserving natural resources and curbing greenhouse gas emissions. Some of the common types of recycled plastics include high-density polyethylene (HDPE), polyethylene terephthalate (PET), and polypropylene (PP).

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Market Trends:

The escalating demand from the industrial sector majorly drives the market in Europe. Along with this, stringent environmental regulations and sustainability goals set by European governments are compelling businesses to adopt recycled plastics in their operations. This regulatory encouragement is influencing innovation in recycling technologies, making them more efficient and cost-effective. Moreover, consumers are increasingly conscious of their environmental footprint, demanding eco-friendly products. This escalating shift in consumer behavior has prompted businesses to incorporate recycled plastics into their product offerings to meet market demand. Another prominent trend is the growing collaboration between industries and recycling facilities. Manufacturers are actively engaging in partnerships with recycling businesses to guarantee a steady supply of premium recycled plastics. This ensures a steady feedstock for various applications, from food packaging to automotive components. Additionally, the European Union's Circular Economy Action Plan has placed recycling at the forefront of its sustainability agenda, further stimulating market growth.

View Full Report with TOC & List of Figure: https://www.imarcgroup.com/europe-recycled-plastics-market

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Müller-Guttenbrunn Group
• MBA Polymers, Inc.
• Paprec Group
• Morssinkhof Rymoplast

Europe Recycled Plastics Market Segmentation:

Our report has categorized the market based on country, source, application and plastic type.

Breakup by Source:
• Plastic Bottles
• Plastic Films
• Rigid Plastics and Foams
• Fibres
• Others

Breakup by Application:
• Packaging
• Electrical and Electronics
• Automotive
• Agriculture
• Construction and Demolition
• Household (Non-Packaging Use)
• Others

Breakup by Plastic Type:
• Polyethylene Terephthalate (PET)
• High Density Polyethylene (HDPE)
• Polypropylene (PP)
• Low Density Polyethylene (LDPE)
• Others

Breakup by Country:
• Germany
• UK
• Italy
• France
• Spain
• Others

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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