Global Plastic Recycling Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Plastic Recycling Market Overview:
“The global Plastic Recycling Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Recycling is a form of waste management , involves conversion of waste plastic or scrap material into useful products. Plastic recycling helps to lessen the energy usage, water pollution and the air pollution which provides opportunity to reduce carbon dioxide emissions and the quantities of waste. Demand for plastics across various industry verticals and negative environmental impact of plastic disposal propel growth of the plastic recycling market.
The great benefit of recycling waste material is that it plays a big part in minimizing global warming and its grave impacts. Realization for environmental protection among consumers is also adding to the market growth. Furthermore, the lack of awareness regarding recycled products may be restraining the market growth.
According to Organization for Economic Co-operation and Development (OECD), recycling rates across different polymers vary across different countries. PET and HDPE materials are mostly used for packaging being recycled at relatively high rates which in range between 19% to 85%, while polypropylene and polystyrene materials are much less recycled like 1% to 21%. Overall plastic recycling rates range from 30% in the EU to 10% in the United States. In many developing countries, uncontrolled waste collection and treatment is still prevalent.
Some associations such as Association of Plastic Recyclers (APR), Plastics Recyclers Europe (PRE) and Institute of Scrap Recycling Industries (ISRI) are responsible for promoting plastic recycling and other organizations to help in creating best possible environment for the plastic recycling industry. Technologies such as reliable detectors, sophisticated decision, and recognition software that can collectively enhance the productivity and accuracy of automatic sorting of plastics.
The global market can be segmented on the basis of geography into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is estimated to continue with its dominance over the period. Flourishing manufacturing sector, increasing consumer demand are expected to drive the industrialization in the region. Asia Pacific is the main importer of plastic scrap of recycling with China and India. Whereas, Europe is expected to show sturdy growth due to stringent laws related to the use of plastic in the region.
Global plastic recycling market segmentation:
Segmentation by Material:
Segmentation by Recycling Process:
Segmentation by Source:
Segmentation by Application:
- Building & Construction
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- PLASgran Ltd.
- UltrePET, LLC.
- MBA Polymers
- Envision Plastics
- RJM International Inc.
- B&B Plastics
- KW Plastics
- Schoenberg & Co.
- Plastipak Holdings
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