The Future of Plastic Recycling Market: Innovations Driving a Greener Tomorrow By 2031 | Most Leading Companies - Plastipak industries Inc., CarbonLITE Industries, HUD Group, Plastima, Iavglobal Co. LTD

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 Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Plastic recycling is the process of recovering and reprocessing plastic waste into new materials and products, reducing environmental impact and minimizing reliance on virgin plastics. This sustainable approach helps decrease landfill waste, conserve natural resources, and lower greenhouse gas emissions.

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.

Industry Development:

On July 20, 2023, NOVA Chemicals Corporation announced a major sustainability initiative with the establishment of its first mechanical recycling facility in Connersville, Indiana. The facility aims to process post-consumer plastic films to commercially produce SYNDIGO recycled polyethylene (rPE).

On July 17, 2023, British Columbia introduced the Single-Use and Plastic Waste Prevention regulation to address hard-to-recycle plastic waste. The regulation covers shopping bags, disposable food service accessories, oxo-degradable plastics, and food packaging made from polystyrene foam, PVC, PVDC, and compostable or biodegradable plastics.

On April 3, 2023, Honeywell partnered with Biotrend Energy to establish 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 a circular plastics economy.

Growth Forecast Projected:

The Global Plastic Recycling Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

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.

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Segment Covered in the Plastic Recycling Market:

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

By Application: Packaging, Automotive, Construction, Others

Regional Analysis for Plastic Recycling Market:

The regional analysis of the Plastic Recycling Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ 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)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

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

➠ Who are the leading manufacturers in the global Plastic Recycling industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Plastic Recycling industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Plastic Recycling market?

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

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