Increased concern about plastic pollution, enhancement in the recycling process, and increased demand for plastics have resulted in boosting Recyclable plastics market.
New York City, United States – May 20, 2020 /MarketersMedia/ —
The Global Recyclable plastics market is forecast to reach USD 62.10 Billion by 2026, according to a new report by Reports and Data. Increasing awareness about the adverse impact of plastic pollution on environmental stability is on a constant rise. The rise in awareness about its harmful effect has been the result of experiencing the real-life complications associated with plastic pollution along with government initiatives. Such increased awareness about plastic pollution has acted as a significant driving force for the growth of the market. Apart from that, an increased number of research on enhancing recycling technologies and rise in social enterprises that are dealing with the issue of plastic pollution like UrbanR Recycle+ positively impacts the growth of the sector.
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Companies considered and profiled in this market study
Avangard Innovative, B. Schoenberg & Co., Inc. Delta Plastics, UltrePET LLC, CarbonLITE Industries, Veolia, Suez Recycling & Recovery Holdings, KW Plastics, Clear Path Recycling, Jayplas.
The companies have utilized various strategies like acquisitions and mergers for retaining their existing customer base and further expand the market.
For the purpose of this report, Reports and Data have segmented the global Recyclable plastics market according to Type, Source, Recycling processes, End-Use Industry, and Region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• High-Density Polyethylene (HDPE)
• Low-Density Polyethylene (LDPE)
• Polypropylene (PP)
• Polystyrene (PS)
• Polyvinyl Chloride (PVC)
Source type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Recycling processes Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
• Chemical recycling
• Mechanical recycling
End-Use Industry Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
• Building & Construction
• Electrical & Electronics
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Further key findings from the report suggest
• The Recyclable plastics market held a market share of USD 39.51 Billion in the year 2018 that is forecasted to grow at a rate of 5.8% during the forecast period.
• In regards to Type, Polyethylene Terephthalate (PET) segment can be seen to generate the highest revenue of USD 13.43 Billion in 2018 with the highest CAGR of 6.5% during the forecast period. Growth of this segment has been the result of the fact that PET is wholly recyclable and have low recycling cost as compared to other types of plastic.
• In context to Source of production of recyclable plastics, Bottles segment generated the highest revenue of USD 24.89 Billion in the year 2018 with a considerable growth rate of 6.2% during the forecast period. The revenue generated by this segment has been the result of the presence of well-regulated and established collection infrastructure and deposit laws in specific nations.
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
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To summarize, the global Recyclable Plastics market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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