Plastic Recycling Market is estimated to be US$ 79.9 billion by 2030 with a CAGR of 6.6% during the forecast period

 

The report "Plastic Recycling Market, By Material (PET, PP, PVC, and Others), By Recycling Process (Mechanical and Chemical), By Source (Bottles, Films, Foams, and Others), By Application (Packaging, Building and Construction, Automotive, and Other), and Region - Global Forecast to 2030" The global plastic recycling market accounted for US$ 42.6 billion in 2020 and is estimated to be US$ 79.9 billion by 2030 and is anticipated to register a CAGR of 6.6%. Growing awareness associated with energy saving benefits in the manufacturing of recycled plastics over virgin plastics is major factor driving growth of the global plastic recycling market. In addition, huge demand for plastics across various packaging industries and negative environmental impact of plastic disposal is propelling growth of the global plastic recycling market. Government support to use recycled plastics in developed countries and increasing use of recycled plastic in textile industry can create lucrative opportunity for players operating in the global plastic recycling market.

Key Highlights:

  • In August 2018, for instance, RPC bpi has acquired PLASgran Ltd, the UK’s leading recycler of rigid plastics, to further its ongoing commitment to avoid waste of plastics.
  • In April 2016, for instance, MBA Polymers, Inc. had started the world’s first commercial production of recycled polycarbonate/acrylonitrile butadiene styrene (PC/ABS) from E-plastic scrap.

Key Market Insights from the report:          

The global plastic recycling market accounted for US$ 42.6 billion in 2020 and is estimated to be US$ 79.9 billion by 2030 and is anticipated to register a CAGR of 6.6%.  The market report has been segmented on the basis of material, recycling process, source, application, and region.

  • By material, the PET is segment accounted for major revenue share in 2018, due to its ability to recycle easily and ease of collection in the form of PET bottles.
  • By recycling process, the global plastic recycling market is segmented into mechanical and chemical.
  • By source, the global plastic recycling market is categorized into bottles, films, foams, and others.
  • By application, the global packaging is segment accounted for major revenue share in 2018. This is owing to the huge application of plastic in packaging industry and the several mandates compelling the industry to adopt more environment-friendly processes and ways to cut-down on its carbon footprint.
  • By region, Asia Pacific plastic recycling market accounted for major revenue share of the global plastic recycling market and is further anticipated to maintain its dominance over the forecast period. This is owing to increasing usage of low cost substitutes of virgin plastics in the form of recycled plastics in the end-use industries in the countries of the Asia Pacific region. Europe plastic recycling market accounted for second-highest market share, in 2018, owing to rising awareness regarding the need to recycle for the protection of environment in the European countries. North America plastic recycling market is expected to grow at the slow rate during the forecast period, 2019, due to the difficulties in sorting and processing, unfavorable economics, and consumer confusion about which plastics can actually be recycled in countries of the region.

Before purchasing this report, request a sample or make an inquiry by clicking the following link:

https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/538

The prominent player operating in the global plastic recycling market includes PLASgran Ltd., UltrePET, LLC, MBA Polymers, Inc., Envision Plastics Industries LLC, RJM International Inc., B&B Plastics, Inc., KW Plastics, Inc., Veolia Environnement SA, Suez SA, Schoenberg & Co., and Plastipak Holdings, Inc.

About Prophecy Market Insights

Prophecy Market Insights is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.

Contact Us:

Sales

Prophecy Market Insights

Email- sales@prophecymarketinsights.com

Comments

Post a Comment

Popular posts from this blog

Wax Market worth US$ 12.5 Billion 2029 with a CAGR of 2.4 %

Image
  The report  " Wax Market ,  by Type ( Paraffin/Mineral Wax, Synthetic Wax, and Natural Wax) , by Application ( Candles, Packaging, Floor Polishes, Adhesives, Cosmetics and Toiletries, Plastic and Rubber, and Others (Paints, Ink, Pharmaceuticals, and Food) ), and Region - Global Forecast to 2029"  Global wax market is projected to grow from US$ 10.1 billion in 2020 to US$ 12.5 billion by 2029. The global wax market is expected to register slow growth over the forecast period. This is attributed to increasing adoption of wax in packaging and package coating application, owing to excellent properties such as heat and water resistance. Furthermore, rising use of wax in cosmetics, anaplastology and dentistry, and candles is another factor driving growth of the global wax market.   Increasing demand for unconventional waxes is expected to create lucrative growth opportunities for new as well as existing players to gain competitive edge. Key Highlights : On January 9, 2019, OrVanc
Read more

Paints Coatings Market worth US$22 2.9 with 4.30%

Image
  Paints Coatings Market   worth US$22 2.9 with 4.30%  The report  " Global Paints Coatings Market, By Resin (Architectural Coating Resin and Others), By End-User Industry (Architectural, Automotive, Wood, Protective Coating, General Industrial, Transportation, and Packaging), By Technology (Water-borne, Solvent-borne, Powder Coating, and UV-cured Coating), and Region - Global Forecast to 2030".  The rise in construction activity for the housing purpose in emerging economies in the Asia-Pacific region is the major propelling factor for the growth of the global market. Additionally, the rise in production of the automotive production in the Europe and Asia Pacific region is another driving factor for the growth of the target market. Moreover, the increasing population income level across the world, increase in the construction that increase the demand for the production of furniture which is the boosting factor for the growth of the global market. Key Highlights : In 2017, Akz
Read more

Iron Market is estimated to be US$ 1236.39 billion by 2030 with a CAGR of 10.40% during the forecast period

Image
Iron Market  accounted for US$ 214.7 billion in 2020 and is estimated to be US$ 1236.39 billion by 2030 and is anticipated to register a CAGR of 10.40%. Steel manufacture is the most common use of iron ore. It's essentially an iron alloy with carbon and additional metals including boron, manganese, nickel, titanium, chromium, molybdenum, and vanadium as additives. These additional metals give steel different properties, allowing it to be used in a variety of applications. Hematite, limonite, magnetite, goethite, and siderite are some of the most important ores. Hematite and magnetite, among these several ores, are iron-rich, containing more than 60% iron. Pig iron, wrought iron, and cast iron are the three types of iron based on carbon content. Pig iron has already controlled the market, and it is likely to do so again over the projection period. The report " Global Iron Market, By Type (Physical Production, Chemical Production, and Mechanical Production), By Application (Auto
Read more