The global Recycled Plastic Market research report 2030, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.

This Recycled Plastic market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.

The market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.6% in the forecast period of 2023 to 2030 and is expected to reach USD 39,458,951.91 thousand by 2030.

Top Companies in the Global Recycled Plastic Market:
Some of the major market players operating in the market are Veolia, LyondellBasell Industries Holdings B.V., Indorama Ventures Public Company Limited, Dow, Repsol, Alpek S.A.B. de C.V., Far Eastern New Century Corporation, Borealis AG, PLASTIPAK HOLDINGS, INC., KW Plastics, Ultra-Poly Corporation, Jayplas, CUSTOM POLYMERS, Recycled Plastics UK, K K Asia (HK) Ltd., Envision Plastics, B & B Plastics Inc., Granite Peak Plastics., B. Schoenberg & Co., Inc., MBA Polymers Inc., and Revolution Company among others.

, among others.

Market Segmentation:

Opportunities

Advancements in plastic recycling technologies

Technological advancements are always seen as an opportunity for the expansion of market scope as they will always result in better and high-quality products, cost efficiency, energy efficiency, and others. In that case, recycling involves many innovative technologies, such as advanced sorting systems, mechanical recycling, and chemical recycling. This will help in attaining a more effective and efficient recycling process and helps in overcoming the challenges such as contamination, limited recyclability, and even results in higher-quality recycling products.

Shift towards a circular economy

A circular economy is an economic strategy that seeks to promote sustainability, reduce waste, and make the best use of resources possible. Keeping items and materials in use for as long as feasible using techniques of recycling, reuse, and repair entails planning out waste and pollution. By lowering reliance on finite resources, supporting regenerative practices, and closing the material flow loop, the circular economy aims to decouple economic growth from resource consumption. To achieve long-term economic, social, and environmental benefits, it seeks to establish a system where resources are used effectively, waste is reduced, and the environment is preserved.

Restraint

Ineffective plastic waste segregation and disposal

One of the major restraints in plastic waste segregation is the material quality that is collected through waste. Such ineffective waste segregation and disposal leads to plastic waste accumulation in landfills and releasing harmful pollutants into the environment. These pollutants end up in the ecosystems that can cause damage to the ecology, and harms the wildlife. Moreover, the inefficient segregation and disposal of plastic waste decrease the recovery of potential plastic resources. Such plastics are wasted, which affects plastics recycling, thus increasing the burden on industries for new virgin plastic production. In addition to it, if the recycled plastics are not uniform in nature and have the presence of contamination, that can lead to less demand for such recycled plastic products

Challenge

High cost associated with recycled plastics production

The recycling of plastics poses a wide number of challenges, including the higher cost of recycling when compared to the plastic produced obtained from virgin materials. The recycling challenges are associated with the complex process of sorting and process of plastic waste and a diverse variety of plastics. The potential factor contributing to the high cost of recycled plastics production is related to geographically dispersed waste generation. At different locations, plastic waste is being generated, which makes it a great challenge for the collection of waste. Moreover, the collection and transportation costs can be very high when the waste is sourced from far areas, which makes the recycling of plastics less economically feasible.

Recent Development                      

On October 2020, Nestle joined hands with Plastic Energy to explore the scope for the first- commercial large-scale facility in U.K. Plastic Energy’s recycling technology offers both a sustainable solution and an innovative source of high quality recycled products to use in Nestle products.   

In November 2022, Lyondellbasell decided to install an advanced recycling plant in Germany. Using LyondellBasell’s proprietary MoReTec technology, this commercial scale advanced recycling plant would convert pre-treated plastic waste into feedstock for new plastic production.   

Recycled Plastic Market Scope

The market is categorized based on source, polymer type, and industry. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Source

Bottles

Films

Fibers

Foams

Others

On the basis of source, the market is segmented into bottles, films, fibers, foams, and others.

Polymer Type

Polyethylene Terephthalate (PET)

High-density Polyethylene (HDPE)

Low-density Polyethylene (LDPE)

Polypropylene (PP)

Polyvinyl Chloride (PVC)

Polystyrene (PS)

Polyurethane (PUR)

Others

On the basis of polymer type, the market is segmented into high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), polyurethane (PUR) and others.

Industry

Packaging

Building & Construction

Automotive

Electrical and Electronics

Furniture

Textile and Clothing

Aerospace and Defence

Others

On the basis of industry, the market is segmented into packaging, building & construction, automotive, electrical and electronics, furniture, textile and clothing, aerospace and defence, and others.

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:

– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)

– North America (United States, Mexico & Canada)

– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)

– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)

– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

Browse The Report Description:

https://www.databridgemarketresearch.com/reports/global-recycled-plastic-market

Strategic Points from Table of Content:

– Market Summary

– Economic Impact Competition Analysis by Players

– Production, Revenue (Value) by geographical segmentation

– Recycled Plastic Market Size by Type and Application

– Regional Market Status and Outlook

– Recycled Plastic Market Analysis and Outlook

– Recycled Plastic Market Forecast by Region, Type, and Application

– Cost Investigation, Market Dynamics

– Marketing Strategy comprehension, Distributors and Traders

– Market Effect Factor Analysis

– Research Finding/ Conclusion

– Appendix

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