Plastic Recycling Market Expected to Reach USD 5688.47 billion by 2030 | Business Intelligence Insights (BII)

Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-06-16  

     

As per Business Intelligence Insights (BII) study, the global Plastic Recycling Market attained revenue growth of USD 2918.50 billion in 2021 and it is projected to reach around USD 5688.47 billion by 2030, growing at a 8.70% CAGR.

Plastic recycling is the process of recovering various types of plastic materials for use in other applications. Continuous attempts to ensure environmental sustainability are propelling global market expansion, compelling businesses to prioritise plastic recycling. The increasing usage of plastic in a range of industrial applications, such as product packaging, electronic components, and car interiors, is also contributing to increased recycling awareness. Some textile makers are also using recycled plastic. Another important factor propelling the market ahead is the availability of sophisticated plastic waste management solutions. Plastic is a durable and adaptable material. Because it is lightweight, corrosion-resistant, cost-effective, and appealing, it has replaced other materials such as metal, concrete, and wood.

Plastic manufacturing consumes less energy. Plastic demand is predicted to skyrocket, resulting in massive amounts of garbage. As a result, the market for plastic recycling is expected to expand. As the plastic packaging industry grows, so will the amount of rubbish produced. The bulk of packaging has a finite lifespan, especially in the food and beverage industry. As a result, a great deal of plastic waste is generated. A well-established solid waste collection and sorting system is lacking in several countries. 10% of all waste produced in Africa is collected by this technique. The other 90% of trash is unaccounted for, and it commonly ends up in oceans and river streams. Furthermore, approximately 8 million tonnes of plastic rubbish is expected to wind up in the oceans.

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Plastic Recycling Market: Companies Mentioned

•    Kuusakoski
•    B&B Plastics Inc.
•    CarbonLite Industries LLC
•    Custom Polymers, Inc.
•    Dart Container Corporation
•    Fresh-Pak Corp
•    Novolex
•    KW Plastics
•    MBA Polymers UK Ltd.
•    PLASgran Ltd.
•    Plastipak Holdings, Inc.
•    WM Recycle America LLC
•    Wellpine Plastic

Key Highlights of the Report

•     Polypropylene (PP) is the second most often used commodity plastic, and its market is predicted to grow in the next years. It's robust and long-lasting, and it's found in everything from vehicle parts to thermal vests to yoghurt containers to disposable diapers. PP is commonly used for living hinges. It's a small plastic sheet that allows you to bend or fold a product part from 1 to 180 degrees. This high proportion is due to the rising need for packaging material in consumer goods, food and beverage, industrial, and other industries. It can also be found on laundry detergent boxes, milk cartons, cutting boards, and garbage cans.

•     The kind of applications that Plastic Recycling can be used in Packaging, food contact, non-food contact, automotive, construction, textiles, and other industries are all affected chevalier. Non-Food Contact is the most common application mode in the global plastic recycling business. Because recycled PET is in such high demand in the production of bottles and other packaging materials such as films and wraps, Because these polymers are generally less expensive than virgin plastics, demand for packaging items increases.

•     The Asia Pacific construction sector is expected to develop significantly due to the increased need for non-residential construction projects such as hospitals, schools, and colleges. Demand for roofing tiles, insulation, fences, floor tiles, carpets, and a range of other building products will increase as a result. Europe comes in second in terms of revenue behind Asia Pacific. The market is being driven by the adoption of a circular economy to reduce the carbon footprint associated with traditional plastic manufacturing.

•      The report contains qualitative and quantitative research on the global dietary supplement Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

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Revenue-generating Segment Highlights

By Material
•    PET
•    PP
•    HDPE
•    LDPE
•    PS
•    PVC
•    Others

By Application
•    Packaging
•    Food Contact
•    Non-Food Contact
•    Automotive
•    Construction
•    Textiles
•    Others
•    Botanicals
•    Vitamins
•    Minerals
•    Amino Acids
•    Enzymes
•    Probiotics
•    Other Plastic Recycling

By Region
•    North America
o    U.S.
o    Canada
•    Europe 
o    Germany
o    U.K.
o    France
o    Italy
o    Spain
o    Rest of Europe
•    Asia Pacific 
o    China
o    India
o    Japan
o    Rest of Asia Pacific
•    Latin America 
o    Brazil
o    Mexico
o    Rest of Latin America
•    Middle East and Africa 
o    UAE
o    South Africa
o    Rest of Middle East and Africa (MEA)

Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’ exclusive Plastic Recycling market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –

•  What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
•  What is the current trend taking place in the market space?
•  What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
•  What market drivers, restraints, and challenges are influencing market demand and growth?
•  In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?

 

The Plastic Recycling Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Plastic Recycling Market Forecast Report 2022- 2030 -  Order Now!

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