The global recycled
plastics market foreseen to grow by 8.4% from USD 24.89 Billion in 2021 to USD 47.45 Billion in 2029. Chemical recycling process, growing awareness
regarding energy savings and government responses, increasing use in packaging,
automotive, and electrical & electronics industries is seen to propel the
market growth over the forecast period. However, effects of downcycling, stringent
competition from virgin plastics remains one of the factors to restraint the recycled
plastics market.
Market Definition
What is Recycled Plastics?
Plastic
recycling gathers waste plastic and reconverts them into new and valuable
plastic products. Recycling plastic requires up to 88% less energy and less
fossil fuel consumption than producing virgin plastic from scratch. The saved
energy can help to create more recycled products.
Market Overview
The
recycled plastics market search study helps to thoroughly understand the
current trend in the market competitive analysis of the players in the emerging
market. Moreover, the DRO in the recycled plastics market offers valuable
perspicuity and a current scenario for making the right decision. The research
study covers the eminent players in the market with a detailed analysis of the
company and a financial overview containing their net sales, business mix and
geographical reach It mainly focuses on the key developments of the
products/services offered by the company in recent years. Besides, we at
Zettabyte have the expertise to analyses the global recycled plastics market player's
competitive landscape helping the client comprehend their specific strategic
growth approaches.
Recycled
plastics market study by "Zettabyte Analytics" offers details about
the market scope, market segmentation, technological advancement in the recycled
plastics market and highlights the optimistic, competitive landscape and trends
enduring over the years.
Major players in the
recycled plastics market alpek, B & B Plastics Recycling Inc, B.Schoenberg
& Co., Biffa, Cabka, Clear Path Recycling, Custom Polymers, Envision
Plastics, Far Eastern New Century Corporation, Fresh Pak Corporation, Imerys,
Indorama Ventures Public Company Limited, Jayplas, KK Asia Pte Ltd, KW
Plastics, MBA Polymers, Pet Processors Llc, Phoenix Technologies, Plasgran Ltd,
Plastipak Holdings, Inc., Remondis Se & Co. KG, Republic Services, Inc.,
Stericycle, Inc., Suez, Ultra Poly Corporation, Veolia, Waste Connections
COVID-19 Impact on Global Recycled
Plastics Market
The global impact
of COVID-19 has lost millions of lives with a massive cost to the healthcare
system. Moreover, the treatment cost for patients with COVID-19 has also had a
financial impact globally. The impact of COVID-19 on the recycled plastics
market has forced the companies to change their sourcing, pricing, and
promotion strategies. The recycled plastics market players are seen focusing
more on optimizing the E-commerce networks with the rising innovations in the
digital sector, which are creating new business models for the chemicals and materials
industry player.
Research Scope
The report
provides market value for the base year 2021 and a yearly forecast from 2022 to
2029 in revenue (USD Million/ Billion). The market for each segment is present
in North America, Europe, Asia Pacific, Latin America, Middle East &
Africa, and the regional basis for the forecast mentioned above.
Key industry
dynamics, regulatory scenarios, major material dynamics and recycled plastics
market future markets are analyzed to understand their impact on demand for the
forecast period. Growth rates have been estimated using correlation, regression
and time-series analysis.
Market Segmentation
For the purpose
of this report, the global recycled plastics market segmented on the basis of source,
type, end-use industry, and region:
Source
|
Bottles
|
Fibers
|
Films
|
Foams
|
Others
|
|
|
Type
|
Polyethylene
(PE)
|
Polyethylene
Terephthalate (PET)
|
Polypropylene
(PP)
|
Polystyrene
(PS)
|
Polyvinyl
Chloride (PVC)
|
Others
|
|
|
End-Use
Industry
|
Automotive
|
Building
& Construction
|
Electrical
& Electronics
|
Packaging
|
Textile
|
Others
|
Source Outlook:
On the basis of
source, the market is segmented into bottles, films, fibers, foams, others.
Figure 1 Recycled Plastics Market By Source (Market
Size And Forecast By Value - USD Million, 2021 & 2029)