Plastic Recycling Market to Witness Substantial Growth by 2031 | Plastipak industries Inc., CarbonLITE Industries, HUD Group, Plastima, Iavglobal Co. LTD

The Plastic Recycling Market report by DataM Intelligence provides insights into the latest trends and developments in the market. This report identifies the key growth opportunities in the market and provides recommendations for market participants to capitalize on these opportunities. Overall, the Plastic Recycling market report is an essential resource for market participants who are looking to gain a comprehensive understanding of the market and identify opportunities for growth.

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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

Plastic recycling is the process of converting used plastic materials into new products to reduce waste and conserve resources. It involves collecting, sorting, cleaning, and processing plastic waste, which is then transformed into raw materials for manufacturing new plastic items. Recycling helps reduce the environmental impact of plastic pollution, conserve petroleum-based resources, and lower carbon emissions. The effectiveness of plastic recycling depends on factors such as the type of plastic, local recycling infrastructure, and consumer participation.

Competitive Landscape

The section also contains information related to the new product launches, mergers, acquisitions, collaborations, etc., to give a clear understanding about the competitive landscape prevailing in the global market. With an emphasis on strategies there have been several primary developments done by major companies such as:

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 announced a major sustainability initiative with the development of its first mechanical recycling facility in Connersville, Indiana. The facility will focus on processing post-consumer plastic films to produce SYNDIGO recycled polyethylene (rPE) at a commercial scale.

❁ On July 17, 2023, British Columbia introduced the Single-Use and Plastic Waste Prevention regulation, aiming to address hard-to-recycle single-use plastics. The regulation covers a range of items, including shopping bags, disposable food service accessories, and packaging made of oxo-degradable plastics, polystyrene foam, PVC, PVDC, and compostable or biodegradable plastics.

❁ On April 3, 2023, Honeywell partnered with Biotrend Energy to build an advanced waste recycling plant in Turkey utilizing Honeywell's UOP UpCycle technology. The facility will convert mixed waste plastics into recycled polymer feedstock (RPF), contributing to the creation of a circular plastics economy.

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Market Segments

The detailed segmentation offered in the report will help customers get a clear idea about the market segments and the factors that will drive segmental growth. The Plastic Recycling market has been segmented:

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

By Application: Packaging, Automotive, Construction, Others

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.

Regional Analysis for Plastic Recycling Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & 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**

This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

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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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Plastic Recycling market?

➠ Who are the global key manufacturers of the Plastic Recycling Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Plastic Recycling market opportunities and threats faced by the vendors in the global Plastic Recycling Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Plastic Recycling market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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