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Plastic Recycling Market Top Companies Study - Kuusakoski, Berry Global Inc., B&B Plastic Inc., Plastipak Holdings, Inc., WM Recycle America.
Plastic Recycling Market
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global plastic recycling market are:
• Increasing the Disposal of Plastic
• Growing Use of Plastics
• Technological Development
The following are the primary obstacles to plastic recycling market's expansion:
• Substantial Startup and Ongoing Expenses
• Insufficient consistent guidelines
• Restricted access to recycling technology
Future expansion opportunities for the global plastic recycling market include:
• Growing research and development
• Some countries are implementing favorable legislation
• Expanding financial resources
Key Industry Insights & Findings from the report:
• Raising consumer attention and understanding of the positive effects of recycling plastic.
• The expansion of the industry is significantly influenced by federal laws and initiatives that support the recycling and management of plastic trash.
• North America dominated the market and accounted for a revenue share of global revenue in 2023.
• Inadequate infrastructure and recycling services hinder the market expansion.
Market Analysis:
Plastic recycling involves the conversion of discarded or waste plastic materials into reusable and functional products. The global plastic recycling industry has witnessed substantial growth, primarily fueled by rising concerns over environmental pollution caused by plastic waste and the increasing demand for sustainable alternatives. This market expansion is further supported by stringent governmental regulations, heightened consumer awareness regarding environmental responsibility, and the growing integration of renewable energy practices. These factors are expected to sustain and accelerate the industry's growth trajectory in the foreseeable future.
List of Prominent Players in the Plastic Recycling Market:
• B&B Plastics Inc.
• Berry Global Inc.
• CarbonLite Industries LLC
• Custom Polymers Inc.
• Dart Container Corporation
• Envision Plastics
• Fresh-Pak Corporation
• Green-O-Tech India
• Jayplas
• Joe's Plastics Inc.
• Kuusakoski Group Oy
• KW Plastics Inc.
• MBA Polymers Inc.
• Montello S.p. A.
• MTM Plastics GmbH
• Novolex
• Plasgran Ltd.
• Plastic Recycling Inc.
• Plastipak Holdings, Inc.
• Recycled Plastics UK
• RJM International Inc.
• Seraphim Plastics
• Shakti Plastics Industries
• Teijin Limited
• Ultra Poly Corporation
• UltrePET
• Veolia
• Wellpine Plastic Industrial Co., Ltd.
• WM Recycle America, LLC
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Recent Developments:
• In Novemnber 2024, Novolex and Pactiv Evergreen Inc. confirmed that they had reached an official agreement to merge, forming a major producer of specialized packaging, nourishment, and drinks materials.
• In December 2024, Teijin Frontier Co., Ltd. declared that it has created a contemporary, comfortable material that combines the ability to cool touch with the ability to avoid perspiration adhesion. The unique substance has a knit construction with two layers. Teijin Frontier's recently created hydrophilic WAVERON fiber and traditional aqueous WAVERON material mix at the interior level.
• In January 2025, Leadec and Jayplas partnered on an innovative initiative that aims to create a fully closed-circuit process by recycling and reusing waste plastic packaging. Jayplas gathered recyclable LDPE material from the company's Halewood activities to create plastic bags with entirely renewable content for internal use at Leadec's Halewood activities. This film was then recycled and made in Jayplas UK facilities.
Market Dynamics
Market Drivers: Increasing Generation of Plastic Waste
The growing accumulation of plastic waste is a primary driver of expansion in the plastic recycling market. Plastic waste presents significant environmental and public health risks, affecting ecosystems and human well-being on a global scale. Recycling efforts are critical in addressing these challenges by diverting waste from landfills and incineration, and repurposing it into reusable materials. As the volume of plastic waste continues to rise, so does the demand for efficient recycling solutions, thereby fueling market growth.
Challenges: High Capital and Operating Costs
The plastic recycling sector encounters significant barriers due to the substantial capital investment and ongoing operational expenses associated with implementing and maintaining advanced recycling technologies. These cost-intensive requirements can hinder adoption, particularly for small and medium-sized enterprises. Furthermore, market development is challenged by fluctuations in the price of virgin plastics, which can affect the economic competitiveness of recycled materials. The lack of harmonized regulatory frameworks across regions further complicates scalability and standardization within the industry.
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North America Is Expected to Grow with The Highest CAGR During the Forecast Period
The North American plastic recycling market is expected to capture a substantial share of global revenue and exhibit strong growth in the coming years. This trajectory is primarily supported by the presence of stringent environmental regulations and a mature recycling infrastructure across the region. Notably, the United States is implementing a range of policy measures and legislative actions aimed at increasing recycling rates and reducing reliance on landfills. Additionally, heightened consumer awareness of the environmental impact of plastic waste, coupled with a rising preference for sustainable and eco-friendly products, is further driving market expansion. Technological advancements in recycling processes and the strategic positioning of key industry players are also instrumental in fostering the continued development of the plastic recycling industry in North America.
Segmentation of Plastic Recycling Market-
By Material-
• PET
• PP
• HDPE
• LDPE
• PS
• PVC
• Others
By Application-
• Packaging
• Automotive
• Construction
• Textiles
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/plastic-recycling-market/1621
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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