DUBLIN–(BUSINESS WIRE)–The “Global Plastic Recycling Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030” report has been added to ResearchAndMarkets.com’s offering.
The Global Plastic Recycling market stood at 162.5 Million Tonnes in 2020 and is forecast to reach 263.08 Million Tonnes by 2030, growing at a healthy CAGR of 4.49% until 2030.
Global demand for recycle plastics market is projected to grow at a healthy CAGR as it finds application in packaging, automotive, building & construction, electrical and electronics industry, among others. Increasing usage of plastics due to their lightweight nature, durability, and other favorable properties led to high demand for plastics thereby adversely affecting the environment.
Growing awareness about the benefits of energy-saving and the growing need to reduce the carbon footprint is likely to play a positive role to increase the demand for the global plastic recycling market. Recycled plastic can be processed into polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), etc. Plastics can be recycled by using methods such as landfill, thermal, mechanical, and chemical methods.
Growing application of recycled plastics in packaging, electrical & electronics, textile, building& construction, automotive, and other industries in addition to the advantages of using recycled plastics aids in lower energy consumption.
Increasing government regulation and policies regarding the use of single-use plastics in various countries as well as the surge in investment to develop new technology resulting in higher energy efficiency is expected to foster the market demand.
The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Leading authorities around the globe imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. The rise in adoption for online shopping surged the demand for various packaging materials for products belonging to personal care, electronic devices, personal protection equipment, among others, thereby the demand for recycle plastics accelerated during the covid period.
North America followed closely by Asia-pacific is expected to be the largest generators and recyclers of plastic waste. These two regions hold almost 76 percent of the global plastic recycling market and are expected to maintain their dominance during the forecast period as well. The introduction of several regulations to promote the use of recycled plastic and the rise in demand for packed and packaged food are the contributing factors expected to strengthen the market growth.
Global demand of recycle plastics is projected to grow at a healthy CAGR due to its application in packaging, automotive, building & construction, electrical and electronics etc. Increasing usage of plastics due to its lightweight, durable, and inexpensive properties has generated huge waste causing damage to the environment. Growing awareness on energy savings and need to reduce the carbon footprint is likely to play positive role in increasing demand of global plastic recycling market. Recycled plastic can be processed into polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS) etc. Plastics can be recycled by landfill, thermal, mechanical, and chemical methods.
Growing application of recycled plastics in packaging, electrical & electronics, textile, building& construction, automotive and other industries coupled with benefits of energy saving by use of recycled plastics is set to increase the demand during the forecast period.
Increasing government regulation and policies regarding the use of single-use plastics in various countries as well as increasing investment on developing new technologies on plastic recycle by companies to increase the energy savings will certainly increase the demand of global plastic recycle market.
Years Considered for this Report:
- Historical Period: 2015-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2030
Objective of the Study:
- To assess the demand-supply scenario of Plastic Recycling which covers production, demand and supply of Plastic Recycling market globally.
- To analyse and forecast the market size of Plastic Recycling.
- To classify and forecast global Plastic Recycling market based on, end-use and regional distribution.
- To identify drivers and challenges for global Plastic Recycling market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Plastic Recycling market.
- To identify and analyse the profile of leading players involved in the manufacturing of Plastic Recycling.
Major players for Plastic Recycling globally include Agilyx Corporation, BASF SE, Braskem, British Petroleum, B&B Plastics, Licella Holdings, OMV Reoil, Polycycle Private Limited, Recycling Technologies, Sapporo Plastic Recycle kk, Jayplas, Veolia etc.
In this report, global Plastic Recycling market has been segmented into following categories, in addition to the industry trends which have also been detailed below
- Market, by End Use-Packaging, Automotive, Building & Construction, Electrical and Electronics
- Market, by type-polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), polystyrene (PS) and others
- Market, by Method-landfill, thermal, mechanical, and chemical
- Market, by Sales Channel-Direct/Institutional Sales, Indirect Sales
- Market, by Region-North America, APAC, Europe, MEA, South America
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