Global Recycled Plastic Market Trends, Applications, Analysis, Growth, and Forecast to 2028

“Global Recycled Plastic Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global recycled plastic market report has been segmented on the basis of source, type, end-use industries, and region.

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Introduction                                                                                                                                                                              

Recycling of plastic is defined as gathering waste plastic scraps which are recyclable then process it with various technologies, and lastly treating it with the chemicals and additives to get a fresh plastic. Recycling plastic waste is complex process, where no exact solution has been available to be completely effective as well as environmentally friendly. These plastics are produce into functional materials which are sometimes different from original states. In addition, these plastics helps to reduce pollution caused by the virgin plastics. Major goals of recycling plastics involve prevention of pollution caused by disposal of plastics, decreasing usage of virgin plastic products, and energy saving.

Dynamics

Increasing demand for recycled plastic across different end-use industries such as packaging, building and construction, and automotive is a major factor expected to drive growth of the global market in the next few years. In addition, increasing adoption of recycled plastic in various electrical and electronics applications is another factor projected to drive growth of the target market over next 10 years.

In addition, negative environmental impact of plastics disposal and rising awareness regarding energy savings are other factors expected to drive growth of the target market. Increasing awareness regarding use of recycled plastics owing to their environmental benefits including energy savings over the virgin plastics is another key factor expected to propel growth of the target market over the forecast period.

However, stringent competition from virgin plastics in various countries in developed and developing regions is a major factor expected to hamper growth of the target market to certain extent.

Favorable initiatives to promote use of recycled plastics in the developed countries, coupled with increasing use of recycled plastic in the textile industry in various developing countries are key factors expected to create lucrative revenue growth opportunity for the players operating in the target market.

Segmental Analysis:

On the basis of source, bottles segment is expected to register significant share in terms of revenue in the global recycled plastic market. The bottle segment revenue is projected to register highest CAGR over the forecast period.

On the basis of type, polyethylene terephthalate segment is expected to register moderate share in terms of revenue in the global market. The polyethylene terephthalate segment revenue is projected to register highest CAGR over the forecast period.

On the basis of end-use industries, packaging segment is estimated to register major share in term of revenue in the global recycled plastic market. The packaging segment revenue is anticipated to register largest CAGR over the forecast period.

Regional Analysis:

Asia Pacific recycled plastic market is expected to account for major share in terms of revenue in the target market. In addition, Asia Pacific recycled plastic market is expected to register highest growth in terms of revenue over the next 10 years, owing to increasing adoption of recycled plastics in various building and construction, automotive, and packaging applications.

Global recycled plastic market segmentation:

Segmentation by source:

• Bottles
• Films and Fibers
• Foams
• Others (Auto parts, electrical goods, furniture, etc.)

Segmentation by type:

• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Polyethylene (PE)
• Polyvinyl Chloride (PVC)
• Others (Polystyrene, polyamide, polycarbonate, and acrylonitrile-butadiene)

Segmentation by end-use industries:

• Packaging
• Building & Construction
• Textiles
• Automotive
• Electrical & Electronics
• Others (Agriculture, aerospace, etc.)

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa