Global Recycled Plastics Market Report 2022: Favorable
Dublin, Oct. 17, 2022 (GLOBE NEWSWIRE) — The “Global Recycled Plastics Market by Type (PET, PE, PP, PVC, PS), Source (Bottles, Films, Fibers, Foams), End-Use Industry ( Packaging, Textile, Building & Construction, Automotive, Electrical & Electronics) and Region – Forecast to 2026″ report has been added to from ResearchAndMarkets.com offer.
The recycled plastics market is expected to grow from USD 27.9 billion in 2021 to USD 43.5 billion by 2026, growing at a CAGR of 9.3% from 2021 to 2026. Recycled plastics understands the growing awareness of energy savings and government responses. Additionally, governments around the world are concerned about plastic waste, especially single-use packaging waste, and are implementing regulations to both minimize environmental waste and improve waste management processes. This, in turn, is expected to contribute to the growth of the recycled plastics market.
PET is estimated to dominate the recycled plastics market, by type in terms of value during the forecast period
By type, PET is estimated to be the largest segment of the recycled plastics market. It is mainly used in fashion products such as fleece clothing, backpacks and carpets. PET can be recovered and recycled multiple times and remelted to produce new PET products. It can also be chemically broken down into its constituent raw materials, which can then be purified and converted into a new PET resin.
The end-use packaging industry is expected to hold the largest market share during the forecast period
By end-use industry, packaging is estimated to be the largest segment of the recycled plastics market. This industry mainly uses PET and HDPE resins for product packaging. Additionally, these resins are the most commonly recycled plastics because they are easy to recycle and have excellent properties, such as strength, thermostability, and transparency, making them a popular choice for use in packaging. Plastics are among the most commonly used materials for packaging because they have several advantages, such as durability and sealability, which protect products and increase their shelf life.
The Asia-Pacific Recycled Plastics Market is expected to be the largest market, by region during the forecast period, in terms of value
Asia-Pacific is expected to be the largest market for recycled plastics during the forecast period. Asia-Pacific is the fastest growing region in terms of population and economic growth. The region has experienced significant growth over the past decade and has accounted for more than a third of global GDP. The strong economic growth, coupled with the increase in population, is expected to boost the industrial sector in the region, which will increase the need for plastics from industries. Continuous and easy availability of recycled plastics, low cost labor, lower prices and environmental benefits are also some of the major factors driving the recycled plastics market in the region.
- Negative environmental impact of eliminating plastics
- Growing Awareness of Energy Savings and Government Responses
- Growing use in packaging, automotive, electrical and electronics industries
- Chemical recycling process
- Rigorous competition from Virgin Plastics
- Effects of downcycling
- Favorable initiatives to promote the use of recycled plastics in developed countries
- Increasing use in the textile industry of developing countries in Asia-Pacific
- New recycling technologies
- Opportunities for chemical industries
- Ban on importing plastic waste or scrap into China
- Difficulty in collecting raw materials
- Only a few recycled plastics have market demand
- Pigmented plastics are not accepted by many recycling facilities
Main topics covered:
2 Research methodology
3 Executive summary
4 premium previews
5 Market Overview
6 Recycled Plastics Market, By Source
7 Recycled Plastics Market, by Type
8 Recycled Plastics Market, By End-Use Industry
9 Recycled Plastics Market, by Region
10 Competitive Landscape
11 company profiles
- B&B Plastics
- B.Schoenberg & Co.
- Cabka Group
- Clear Path Recycling
- Custom polymers
- Consider plastics
- New Century Far Eastern Society
- Fresh Pak Corporation
- Indorama Ventures Public Ltd.
- Kk Asia Pte Ltd
- Kw Plastics
- MBA Polymers
- Pet Processors LLC
- Phoenix Technologies
- Plastipak Holdings
- Remondis Se & Co. Kg
- Republic Services
- Ultra Poly Corporation
- Waste Connections, Inc
For more information about this report visit https://www.researchandmarkets.com/r/yivjz9
Global market for recycled plastics