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Sustainability in Plastic Manufacturing Market Trends Highlight Increasing Adoption of Bio-Based and Recycled Plastic Solutions Across Industries
Sustainability in Plastic Manufacturing Market
According to the latest research by InsightAce Analytic, the Global Sustainability in Plastic Manufacturing Market is expected to increase with a CAGR of 14.3% during the forecast period of 2024-2031.
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The pursuit of environmentally sustainable plastics production represents a complex and multidimensional challenge, necessitating coordinated action among industry stakeholders, governmental bodies, and communities. Advancing sustainability in the plastics sector requires the implementation of comprehensive strategies that encompass all stages of the product life cycle, including raw material sourcing, manufacturing processes, and end-of-life management such as disposal and recycling. Achieving such integration supports global efforts to reduce plastic pollution and mitigate climate change.
Market expansion is primarily driven by stringent regulatory frameworks targeting single-use plastics, compelling manufacturers to adopt sustainable practices. Additionally, companies are increasingly emphasizing environmental responsibility to enhance brand reputation and appeal to environmentally conscious consumers. Rising global awareness regarding the ecological impact of plastic pollution further accelerates the adoption of sustainable production methods, thereby reinforcing growth prospects within the sector.
List of Prominent Players in the Sustainability in Plastic Manufacturing Market:
• Novamont S.p.A.
• Bemis Manufacturing Company
• WestRock Company
• Amcor plc
• BASF SE
• Crown
• Sonoco Products Company
• Berry Global Inc.
• Mondi
• Smurfit Kappa
• Constantia Flexibles
• Uflex Ltd.
• Huhtamaki OYJ
• Sealed Air Corporation
• Natureworks Llc.
• Phoenix Technologies International Llc.
• Innovia Films
• Essel Propack
• Gerresheimer AG
• Tetra Laval
• Reynolds Packaging
• Other Prominent Players
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Market Dynamics
Drivers:
The transition toward environmentally sustainable production within the plastics industry is largely driven by heightened consumer awareness of ecological issues and an increasing demand for sustainable products. This growing focus on sustainability incentivizes manufacturers to implement eco-friendly production methods that align with evolving consumer expectations for ethical and responsible practices. In addition, stringent governmental regulations and policies aimed at reducing plastic waste and promoting sustainable development are compelling plastics manufacturers to adopt green practices and develop sustainable alternatives. Together, these factors are contributing to the expansion of the sustainable plastics market.
Challenges:
Despite favorable market conditions, the sustainable plastics sector faces notable challenges, particularly related to recycling efficiency. The integration of sustainable plastics with conventional materials complicates recycling processes, resulting in lower efficiency, increased processing costs, and diminished appeal for recycling stakeholders. Furthermore, higher production costs associated with sustainable plastics affect product affordability, limiting accessibility for both businesses and consumers. These constraints pose significant barriers to fully realizing the market's growth potential.
Regional Trends:
North America is expected to retain a significant share of the sustainable plastics market, driven by strong consumer demand for eco-friendly products and growing awareness of environmental sustainability. Supportive regulatory frameworks and government initiatives targeting plastic pollution further accelerate the adoption of sustainable alternatives in the region. Concurrently, the Asia-Pacific market has experienced robust growth, fueled by rapid urbanization, population expansion, and increased consumption of sustainable plastic packaging. Rising environmental consciousness among consumers continues to drive demand for sustainable and eco-friendly packaging solutions across the region.
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Recent Developments:
• In Nov 2023, A Memorandum of Understanding (MOU) has been established between Amcor and NOVA Chemicals Corporation, a prominent manufacturer of sustainable polyethylene. The procurement of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films is stipulated in the agreement. In order to promote packaging circularity, Amcor has prioritized the expansion of rPE usage in flexible packaging applications.
• In June 2021, A new line of sustainable produce packaging has been introduced by WestRock. The sustainable wood fibre was utilized in the production of the organization's new packaging collection. By virtue of being curbside recyclable when emptied and compressed, the new packaging, according to WestRock, enabled the organization to reduce waste and create a product line that is one hundred percent reusable, recyclable, and compostable.
Segmentation of Sustainability in Plastic Manufacturing Market-
By Type-
• Biodegradable Plastic
• Recycled Plastic
• Bio-based Plastic
By Function-
• Alternate Fiber
• Molded Pulp
• Others
By Product Type-
• Bottles and Jars
• Boxes
• Bags
• Trays
• Films
• Pouches and Sachets
• Others
By End User Industry-
• Food & Beverages
• Chemical
• Pharmaceutical
• Automobile
• Electronics
• Agriculture
• Personal Care
• 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/sustainability-in-plastic-manufacturing-market-/2391
About Us:
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.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: https://www.insightaceanalytic.com/
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com
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