Dublin, May 10, 2023 (GLOBE NEWSWIRE) -- The "India Plastic Recycling Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Type, End-user Industries, Sales Channel, Regional Demand, FY2015-FY2030" report has been added to ResearchAndMarkets.com's offering.
The India Plastic Recycling market stood at approximately 5700 thousand tonnes in FY2023 and is likely to grow at a steady CAGR of 5.84% in the forecast period by FY2030.
The plastic recycling industry in India is rapidly growing owing to the rise in the number of small-scale processing plants in the country and the increasing focus of non-governmental entities on the secondary use economy. Plastic recycling has various benefits such as financial benefits, reducing the need for the production of fresh plastics, creating employment opportunities, and reducing energy consumption.
Additionally, the growing packaging industry is spurring the demand for PET and HDPE for packaging applications, which is likely to enhance the plastic recycling market. One of the key strategies to reduce waste output and make the nation more environmentally friendly is through the recent initiative of several fashion firms, which have started recycling PET plastic bottles into clothing.
In FY2022, the government called for an end to using single-use plastics by eliminating single-use plastics which were used to make items like disposable food plates, forks, earbuds, etc. One of the key strategies to reduce waste output and make the nation more environmentally friendly is through the recent initiative of using recycled PET bottles for packaging. All these factors are anticipated to positively augment the Plastic Recycling market in the forecast period and reach nearly 8500 thousand tonnes in FY2030.
West India has been the key player. In FY2023, West India accounted for approximately 38% of the market and is likely to dominate the market in the forthcoming years.
Polyethylene Terepthalate (PET) is the most widely used one in the nation with a market share of 35%. PET is a versatile chemical with various uses like water bottle and carbonated soft drink packaging applications, blister, and packaging trays. PET bottles can be easily recycled and converted into recycled PET with major application in packaging.
Although, the Packaging industry is dominating the Plastic Recycling market with about 37% of the market share in FY2023 and is anticipated to dominate the market even in the forecast period. Plastic sachets enable low-income consumers to purchase tiny quantities of goods that they otherwise would not be able to afford, frequently goods that offer hygiene or nutrition benefits like toothpaste, cream, and shampoo. Yet, it is particularly challenging to enhance flexible packagings, such as sachets and pouches.
Domestic players in the India Plastic Recycling market are
- Pashupati Polytex Pvt. Ltd.
- Jairam Plastic Industries
- Jayachandran (JCG) Plastics Private limited
- Luckystar International Pvt. Ltd.
- Al Mehtab Industries Pvt. Ltd
- AGL Polyfil Private Limited
- Archieve Eco Tech Private Limited
- Halifax Greentech LLP
- Shakti Corporation Pvt. Ltd.
- UFlex Limited
Key Topics Covered:
1. Capacity by Company
On the online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Plastic Recycling.
2. Capacity by Location
To better understand the regional supply of Plastic Recycling by analyzing its manufacturers' location-based capacity.
3. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
4. Production by Company
Study the historical annual production of Plastic Recycling by the leading players and forecast how it will grow in the coming years.
5. Demand by Type
Learn about the various types- Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others, and their demands. It will allow you to choose which type to concentrate on when designing your strategy.
6. Demand by End-use
Discover which End-user industry (Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others) are creating a market and the forecast for the growth of the Plastic Recycling market.
7. Demand by Region
Analyzing the change in demand of Plastic Recycling in different regions across India, i.e., North India, South India, East India, West India, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Plastic Recycling. The analyst's sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Plastic Recycling.
For more information about this report visit https://www.researchandmarkets.com/r/yq8pt8
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