Press release
Recycled Plastic Granules Market Trends and Future Scenarios Review 2024 - 2031 | Polyclean Technologies Inc., Goverdhan Polygran Pvt. Ltd.
Recycled Plastic Granules Market
The global recycled plastic granules market is expected to reach US$ 3.96 Billion by the end of 2030, in terms of revenue, exhibiting a CAGR of 3.3% during the forecast period (2022 to 2030).
Market Dynamics:
Rising concerns of environmental pollution caused by improper waste disposal coupled with growing preference for sustainable materials are expected to aid the growth of recycled plastic granules market over the forecast period. In addition, implementation of stringent regulations regarding usage of virgin plastics and favorable policies promoting adoption of recycled plastics are further expected to propel the market growth. Government bodies across regions are encouraging manufacturers to utilze recycled plastics by providing subsidies and financial incentives. This is anticipated to create positive industry outlook.
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Major Growth Drivers in Recycled Plastic Granules Market:
Increased Demand for Recycled Plastic from Packaging Industry
The packaging industry has witnessed significant growth in the demand for recycled plastic granules in recent years. With rising environmental concerns regarding usage of virgin plastic, packaging manufacturers are increasingly opting for recycled plastic to manufacture flexible as well as rigid packaging products. Recycled plastic granules provide an eco-friendly alternative to packaging manufacturers without compromising on functionality and quality. Also, recycled plastic granules are much more economical as compared to virgin plastic granules. Thus, strong growth of the packaging industry worldwide has emerged as a key driver for the recycled plastic granules market.
Major Market Opportunity in Recycled Plastic Granules Market:
Rising Trend of Circular Economy Models
Governments and corporations across the globe are focusing on transitioning towards circular economy business models to promote sustainability. The circular economy emphasizes on recovering resources through recycling and remanufacturing spent products and materials. This provides a massive opportunity for recycled plastic producers. As more companies adopt circular practices, the demand for secondary raw materials like recycled plastic granules will witness rapid growth. Also, new advanced recycling technologies are being developed which can sort mixed plastic waste and produce high quality recycled plastic closer to virgin quality. This will boost the acceptability of recycled plastic for broader applications. Overall, shifting focus towards circularity presents significant growth prospects for recycled plastic granules market.
Major Market Trend in Recycled Plastic Granules Market:
Increasing Application Diversity of Recycled Plastic Granules
Traditionally, recycled plastic granules found major applications in buckets, garbage bins and pipe fittings industry where aesthetics and quality demanded were relatively less. However, ongoing advancements in recycling technologies have enabled production of high-grade recycled plastic granules with properties rivaling virgin plastic granules. This has resulted in increasing application scope of recycled plastic granules beyond traditional segments. Recycled plastic granules are now being utilized to manufacture products requiring higher quality such as furniture, automotive components, industrial machinery, construction materials and even food packaging. The growing application diversity is a key trend being witnessed in recycled plastic granules market as it will boost commercialization of recycled plastic on a much larger scale.
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Top Companies Included in This Report:
★ Polyclean Technologies Inc.
★ Goverdhan Polygran Pvt. Ltd.
★ Nidhi Enterprises
★ S.S.B Polymers & S.S.B Enterprises
★ The Shakti Plastic Industries
★ Dar AI Khaleej Plastics
★ GRM Polymer
★ Jai Shree Balaji Plastic
★ Kamal Polyplast
★ Mittal Polymers
★ Nahata Plastics
★ Navkar Industries
★ Amruta Plastic
★ Raza Traders
★ Vanshika Plastic Industry
★ Wiwat Plastic
★ Xiamen Keyuan Plastic Co., Ltd.,
Market Segmentation:
By Product Type:
★ By Type: PP Granules, PE Granules, HDPE Granules, LDPE Granules, Polycarbonate Granules, Polystyrene Granules, Others (ABS plastic granules, etc.)
By Applications:
★ By Application: Automotive, Consumer Product, Textile, Others (Electrical & Electronics, etc.)
Key Regions/Countries are Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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The report offers insights on the following topics:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Competitor Landscape of the Recycled Plastic Granules Market by Players
Chapter 4: Market Size of the Recycled Plastic Granules Market by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, Recent Developments, and Investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
Ultimately, the Recycled Plastic Granules Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Recycled Plastic Granules industry.
Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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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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