Press release
Plastic Recycling Market Outlook, Industry Trends, Growth Forecast and Competitive Landscape 2024-2031
Plastic Recycling Market
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ: https://www.alliedmarketresearch.com/request-sample/A08207
Key Drivers of Growth
- Increased awareness of the environmental impact of plastic waste and the growing need to reduce carbon emissions are major factors driving the market's expansion.
- Governments worldwide are enacting stricter regulations and promoting initiatives to encourage plastic recycling.
The advent of advanced technologies like pyrolysis and chemical recycling offers new opportunities for efficient plastic waste recycling.
However, challenges such as the lack of infrastructure for plastic recycling, limited investments in developing countries, and the low value of recycled plastic compared to virgin plastic may hinder market growth.
Report Highlights
- Forecast Period: 2022-2031
- Base Year: 2021
- Market Size in 2021: $27.9 billion
- Market Size in 2031: $60.96 billion
- CAGR: 8.7%
- Pages in Report: 260
- Segments Covered: Product, Source, Application, and Region
Growth Opportunities
- Introduction of advanced technologies and improved processes for more efficient recycling.
- Increasing demand for sustainable packaging, particularly in industries like beverages and consumer goods.
Challenges
- The value disparity between recycled and virgin plastic can limit recycling incentives.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ซ๐จ๐๐ฎ๐ซ๐ข๐ง๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ข๐ฌ๐ข๐ญ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/plastic-recycling-market/purchase-options
Market Trends by Segment:
- Polyethylene Terephthalate (PET): PET held the largest market share in 2021 and is expected to see the highest growth rate of 9.4% CAGR from 2022 to 2031 due to its widespread use in eco-friendly packaging solutions.
- Plastic Bottles: The plastic bottles segment is projected to grow at the fastest rate (9.5% CAGR) due to heightened demand for recycled bottles as a more sustainable alternative.
- Packaging: The packaging application dominated the market in 2021, driven by increasing demand for sustainable packaging solutions and consumer awareness of environmental issues.
- Asia-Pacific Region: Asia-Pacific held the highest market share in 2021 and is forecasted to grow at the fastest rate (9.2% CAGR) through 2031. The region's heightened environmental awareness and recycling efforts are key drivers.
Top Market Players
- REMONDIS SE & Co. KG
- Biffa
- Stericycle
- Republic Services, Inc.
- Veolia
- Waste Connections
- Shell International B.V.
- CLEAN HARBORS, INC.
- Covestro AG
The report offers an in-depth analysis of the competitive landscape, including business strategies, product portfolios, and market positioning of key players.
๐๐๐ญ๐๐ข๐ง ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ญ๐๐ข๐ฅ๐ฌ: https://www.alliedmarketresearch.com/plastic-recycling-market-A08207
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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