Press release
Recycled Plastics Market Growth Statistics 2024 Competitive Landscape, Restraining Factors, Development Status and Growth by Forecast 2031 | B&B Plastics, Veolia, Green Line Polymers
Recycled Plastics Market
Market Overview:
Recycled plastics are materials produced from post-consumer plastic waste which are further processed and used in applications such as bottles, fibers, films, and various molded products. Recycled plastics help conserve raw materials and energy in the manufacturing process.
Market Dynamics:
The recycled plastics market is driven by the rising environmental concerns related to plastic waste accumulation and greenhouse gas emissions from plastic production. According to the United Nations Environment Programme, each year approximately 100 million tonnes of plastic waste is dumped in the ocean. Also, the plastic production and incineration processes are estimated to account for roughly 3.8% of total global greenhouse gas emissions. Stringent government regulations regarding the use of recycled content in plastic products and landfill bans on plastic waste are also fueling the demand for recycled plastics. Moreover, growing preference of end-use industries for recycled resins owing to their lower price as compared to virgin resins is further propelling the recycled plastics market growth over the forecast period 2024-2031.
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Recycled Plastics Market Drivers and Dynamics
Increasing Government Regulation on Plastic Waste Management
Governments across the globe are increasingly implementing stringent regulations towards effective plastic waste management and recycling. Regulations like bans on single-use plastics, landfill bans, extended producer responsibility policies are being enforced which is boosting the demand for recycled plastics. Many countries have implemented bans on plastics like grocery bags, straws, Styrofoam containers etc. to reduce plastic pollution. Such regulations are compelling companies to increase the use of post-consumer recycled plastics to meet the compliance standards and divert plastic waste from landfills and oceans.
Rising Demand from Packaging Industry
Recycled plastics find major application in packaging industry for producing food packaging, bottles, containers etc. The packaging industry is continuously witnessing high demand for sustainable packaging solutions due to growing environmental awareness among consumers. Recyclable and recycled plastic packaging is gaining more popularity. Companies in the packaging industry are sourcing post-consumer recycled plastics in large volumes to manufacture recyclable packaging and meet sustainability targets. Also, restrictions on virgin plastics are driving their transition to use of recycled resins to sustain their operations.
Recycled Plastics Market Trend
Technological Advancements for Improved Recyclability
Continuous technological innovations are aiding the production of advanced recyclable and reusable plastics. Developments in polymer engineering, material science and processing technologies are supporting enhanced design of plastics for improved recyclability and recycling rates. New recycling methods for difficult-to-recycle plastic types are enabling higher yields. Emerging technologies like chemical recycling are addressing issues in mechanical recycling. Use of digital tools for efficient waste collection logistics and polymer fingerprinting to optimize sorting are also trending. Ongoing R&D for development of smart, sustainable plastic materials is a prominent market trend.
Worldwide major and leading players within the market are:
★ B&B Plastics
★ Veolia
★ Green Line Polymers
★ Clear Path Recycling
★ B. Schoenberg & Co.
★ Jayplas
★ Suez
★ Custom Polymers
★ Plastipak Holdings
★ KW Plastics.
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Segmental Overview
Recycled Plastics Market segmentation offers an in-depth analysis of the various segments of the market, including application, type, end use, and region. The segmentation overview section offers crucial information about the market share, sales, and growth rate for each of the segments over the forecast period. Moreover, an examination of the relative multitude of significant sub-portions in the market has been canvassed in the report.Having a knowledge about the various segments and sub-segments helps businesses recognize the importance of factors that drive industry growth.
The titled segments and sub-section of the Recycled Plastics market are illuminated below:
Global Recycled Plastics Market, By Product Type:
★ On the basis of product type, the global recycled plastics market is segmented into:
★ Polyethylene Terephthalate (PET)
★ High Density Polyethylene (HDPE)
★ Low Density Polyethylene (LDPE)
★ Polyvinyl Chloride (PVC)
★ On the basis of source, the global recycled plastics market is segmented into:
★ Plastic Bottles
★ Plastic Bags & Films
★ Synthetic Fiber
★ Rigid Plastics & Foams
★ On the basis of end-use industry, the global recycled plastics market is segmented into:
★ Building & Construction
★ Textiles
★ Automotive
★ Electrical & Electronics
★ Packaging
Regional Analysis for Recycled Plastics Market:
📍 North America (United States, Canada, and Mexico)
📍 Europe (Germany, France, UK, Russia, and Italy)
📍 Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
📍 South America (Brazil, Argentina, Colombia, etc.)
📍 The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Key Highlights of the Report
Offers a comprehensive and holistic analysis of the Recycled Plastics Market.
Evaluates the competitive environments, covering partnerships, joint ventures, acquisitions, and organic growth.
Provides forecast information related to every region and sub-region of the Recycled Plastics market.
Includes information on the key opportunities and challenges faced by key industry players worldwide.
Covers the Recycled Plastics market's current and future market outlook on industry drivers, market restraints, and regional constraints.
The report answers a number of crucial questions, including:
➥ Which companies dominate the global Recycled Plastics market?
➥ What current trends will influence the Recycled Plastics market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular Recycled Plastics market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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