Plastic Recycling Market Growing with Leading Key Players - Plastipak industries Inc., CarbonLITE Industries, HUD Group, Plastima, Iavglobal Co

DataM Intelligence has released a new research report on the Plastic Recycling market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits, gross margins, and strategic decisions in the global market. The report is enriched with tables, charts, and infographics for a clear presentation of the findings.

The Global Plastic Recycling Market reached USD 28.3 billion in 2022 and is expected to reach USD 60.2 billion by 2031, growing with a CAGR of 8.9% during the forecast period 2024-2031

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Plastic Recycling is the process of collecting, processing, and converting waste plastic materials into new products. This involves sorting and cleaning used plastics, breaking them down into smaller pieces, and then melting or chemically altering them to create raw materials for manufacturing new plastic items. The goal of plastic recycling is to reduce plastic waste, conserve resources, and minimize environmental impact by promoting a circular economy where plastic materials are reused rather than discarded.

List of the Key Players in the Plastic Recycling Market:

Plastipak industries Inc., CarbonLITE Industries, HUD Group, Plastima, Iavglobal Co., LTD., Nam Phong Industry, KW Plastics, Custom Polymers, MBA Polymers Inc. and Wellpine Plastic Industrial Co.,Ltd.

Key Developments:

On July 20, 2023, NOVA Chemicals Corporation launched a major sustainability initiative by developing its first mechanical recycling facility in Connersville, Indiana. This facility will specialize in processing post-consumer plastic films to produce SYNDIGO recycled polyethylene (rPE) at a commercial scale.

On July 17, 2023, British Columbia announced significant measures to address hard-to-recycle single-use plastic items through the implementation of the Single-Use and Plastic Waste Prevention regulation. This regulation will encompass various items, including shopping bags, disposable food service accessories, oxo-degradable plastics, and food service packaging made from polystyrene foam, PVC, PVDC, and compostable or biodegradable plastics.

On April 3, 2023, Honeywell entered into a partnership with Biotrend Energy to construct an advanced waste recycling plant in Turkey, utilizing Honeywell's UOP UpCycle technology. The facility aims to convert mixed waste plastics into recycled polymer feedstock (RPF), contributing to the establishment of a circular economy for plastics.

Research Process:

Both primary and secondary data sources have been used in the global Plastic Recycling Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Plastic Recycling Market:

By Material: Polyethylene (PE), Polypropylene (PP), Polystyrene (PS), Polyethylene Terephthalate (PET)

By Application: Packaging, Automotive, Construction, Others

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Regional Analysis:

➣ North America (US, Canada, Mexico)

➣ Europe (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)

➣ Asia-Pacific (China, India, Japan, Australia, Rest of Asia Pacific)

➣ South America (Brazil, Argentina, Rest of South America)

➣ Middle East and Africa

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Plastic Recycling market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Plastic Recycling Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Plastic Recycling market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Plastic Recycling Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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The Research Report Offers Answers To The Following Questions:

☛ What is the expected growth rate of the global market for the forecast period?

☛ What are the key driving factors that are responsible to shape the fate of the Plastic Recycling market during the forecast period?

☛ What will be the overall size of the market during the analysis period?

☛ What are the prominent market trends which influence the development of the Plastic Recycling market across various regions?

☛ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

☛ What are the challenges and threats that are likely to act as a barrier to the growth of the Plastic Recycling market?

☛ What are the major opportunities that the companies can get to attain success in the world?

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