Global Recycled Plastics Market Current Trends, Growth Factor, Regional Segmentation and Forecast to 2030

The global recycled plastics market was valued at US$ 39442.73 Mn in 2020 growing at a CAGR of 5.4% over the forecast period (2022 – 2030).

PUNE, MAHARASHTRA, INDIA, March 25, 2022 /EINPresswire.com/ -- According to Absolute Markets Insights report, Polyethylene terephthalate (PET) accounted for the higher market share in 2020 and is projected to maintain its dominance over the forecast period (2022-2030) in the recycled plastics market. The growth in this segment can be attributed to high demand for packaging of food & beverage products. The product is widely used for numerous application such as moldings, bottles, jars, fibers etc. on account of its chemical resistance, excellent impact & tensile strength, and thermal stability. Moreover, growing use of food grade recycled polyethylene terephthalate (PET) in bottle-to-bottle processes along with voluntary pledges by producers for recycled polyethylene terephthalate (PET) target content in line with EU Single Use Plastics Directives is projected to further accelerate the production. Furthermore, changing trade flows of plastic waste has impacted the waste volumes positively, such a factor has produced new trade avenues for plastic flakes, bale and food grade recycled polyethylene terephthalate (PET). The aforementioned factors have positively influenced the market growth of recycled plastics especially recycled polyethylene terephthalate (PET).
The global recycled plastics market was valued at US$ 39442.73 Mn in 2020 growing at a CAGR of 5.4% over the forecast period (2022 – 2030). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.

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According to MDPI recycling journal, global food supplies are projected to increase by 50% by 2050. Burgeoning population in 2019 was estimated to be around 7.7 billion and is likely to reach 9.7 billion. Such growth in population has augmented food demand and consequently drove the demand for food packaging which subsequently increased product demand in food packaging application. Moreover, plastic has excellent strength to weight ratio on account of which it is highly used in non-food packaging applications. High e-commerce sales amid pandemic is one of the major factors which has contributed in the growth of non-food packaging segment in 2020. Apart from packaging applications, building & constructions applications have huge potential in contributing toward circular economy. Repurposing of plastic waste in road constructions and components like pipes, bricks, planks, tanks, sheets, etc. drove the product demand in the recent past. For instance, existing practices in building & construction industry include use of recycled plastic based planks and bricks as an alternative to traditional materials. Moreover, product innovation along with growing awareness pertaining to recycled plastics is further projected to drive recycled plastics market growth in the end-use sectors.

Qualitative and quantitative research of global recycled plastics market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.

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Key Findings:
• By type, the polyethylene terephthalate (PET) segment registered for the major share of revenue in the recycled plastics market in 2020.
• By technique, mechanical recycling segment accounted for the highest market share in recycled plastics market in 2020.
• By end use industry, packaging segment accounted for the major share in 2020
• By region, Asia-Pacific region dominated the market in terms of revenue in 2020.

Competitor Insights:
The key companies profiled in the recycled plastics market are mentioned below:

• Advanced Drainage Systems, Inc.
• Avangard Innovative
• B & B Plastics Inc.
• B. Schoenberg & Co.
• Clear Path Recycling
• Custom Polymers Inc.
• J&A Young (Leicester) Ltd
• KW Plastics
• PLASTIPAK HOLDINGS, INC. AND ITS AFFILIATES
• SUEZ
• Ultra-Poly Corporation
• Veolia
• Other Market Participants.

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Global Recycled Plastics Market:
By Type:
• Polyethylene Terephthalate (PET)
• High Density Polyethylene (HDPE)
• Polypropylene (PP)
• Low Density Polyethylene (LDPE)
• Polyvinyl chloride (PVC)
• Polystyrene (PS)
• Others

By Technique:
• Mechanical recycling
• Chemical Recycling
• Energy Recycling

By End-Use Industry:
• Packaging
o Food Packaging
o Non-Food Packaging
• Building & Construction
• Automotive
• Electrical & Electronics
• Medical
• Agriculture
• Others

By Region
• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

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