Richmond, Feb. 22, 2024 (GLOBE NEWSWIRE) -- According to a research report "Post-Consumer Recycled Plastics Market, by Source (Bottles, Non-bottle Rigid, Others), Type (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyurethane (PUR), Polyvinyl Chloride (PVC), Polystyrene (PS), Others), End-Use Industries (Packaging, Construction, Automotive, Electronics, Others), and Region - Global Forecast to 2030.
Global Post-Consumer Recycled Plastics Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 15.4 Billion |
| Market size value in 2030 | USD 27.3 Billion |
| CAGR (2023-2030) | 8.5% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Source, Type, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Post-Consumer Recycled Plastics Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Post-Consumer Recycled Plastics Market is witnessing significant growth driven by increasing environmental concerns and stringent regulations regarding plastic waste management. With a focus on sustainability, industries are increasingly adopting recycled plastics in various applications, including packaging, automotive, construction, and electronics. Moreover, growing consumer awareness and demand for eco-friendly products further propel market expansion. Technological advancements in recycling processes are enhancing the quality and availability of post-consumer recycled plastics, contributing to market penetration. However, challenges such as limited collection infrastructure and processing capabilities in certain regions hinder market growth. Overall, the market shows promising prospects fueled by sustainability initiatives and the circular economy agenda.
Major vendors in the global Post-Consumer Recycled Plastics Market are
- Alpha Packaging
- Amcor plc
- Berry Global Inc.
- Biffa
- CLEAN HARBORS, INC.
- Coveris
- DS Smith
- Eco-Products, Inc.
- Mondi
- Placon
- REMONDIS SE & Co. KG
- Sealed Air
- Seventh Generation Inc.
- Stericycle
- SUEZ
- Veolia
- WM Intellectual Property Holdings, L.L.C.
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Stringent government regulations
Stringent government regulations serve as a significant driver propelling the growth of the Post-Consumer Recycled Plastics Market. Governments worldwide are implementing stringent policies and regulations aimed at reducing plastic waste and promoting sustainable practices. These regulations include mandates for increased use of recycled materials in packaging, restrictions on single-use plastics, and extended producer responsibility (EPR) schemes. Such policies create a favorable environment for the adoption of post-consumer recycled plastics across various industries. Moreover, government initiatives often include financial incentives or subsidies to encourage businesses to invest in recycling infrastructure and develop innovative recycling technologies. As a result, businesses are compelled to integrate recycled plastics into their supply chains to comply with regulations, thereby driving market growth and fostering a more sustainable future.
Market Dynamics
Drivers:
- Stringent government regulations
- Customer Demand for Sustainable Product
Opportunities:
- Advancements in recycling technologies
- Increasing Consumer Demand
Advancements in recycling technologies
Advancements in recycling technologies present a significant opportunity for the Post-Consumer Recycled Plastics Market. Innovations in recycling processes have led to the development of more efficient and cost-effective methods for transforming post-consumer plastic waste into high-quality recycled plastics. These advancements enable the production of recycled plastics with properties comparable to virgin plastics, expanding their potential applications across various industries such as packaging, automotive, construction, and electronics. Moreover, improved sorting and purification techniques enhance the quality and purity of recycled plastics, addressing concerns about consistency and performance. As businesses strive to meet sustainability goals and reduce their environmental footprint, investing in innovative recycling technologies offers them a competitive edge while contributing to the circular economy. Therefore, leveraging these advancements presents an opportunity for businesses to drive market growth and meet the increasing demand for sustainable plastic solutions.
The market for Post-Consumer Recycled Plastics is dominated by North America.
North America stands out as a dominant force in the market for Post-Consumer Recycled Plastics. The region's leadership position is attributed to several key factors. Firstly, North America has a well-established infrastructure for waste collection and recycling, supported by robust regulatory frameworks promoting sustainable practices. Secondly, heightened consumer awareness and stringent environmental regulations drive demand for products made from recycled plastics. Additionally, North American industries, particularly in packaging, automotive, and consumer goods sectors, exhibit a strong commitment to incorporating recycled materials into their supply chains. Furthermore, ongoing investments in recycling technologies and innovations contribute to the region's market dominance, ensuring the availability of high-quality recycled plastics. With a culture of sustainability and a proactive approach towards waste management, North America continues to lead the Post-Consumer Recycled Plastics Market, setting a precedent for other regions to follow suit.
The Bottles Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Bottles have emerged as the predominant segment within the Post-Consumer Recycled Plastics Market, experiencing rapid growth due to their widespread usage, heightened consumer awareness, and focused efforts to reduce single-use plastic waste. Their prevalence in beverage and packaged goods industries ensures a consistent supply of recyclable material. Increasing public concern regarding plastic pollution amplifies the demand for recycled bottle plastics, driving market expansion. With a collective push towards sustainability from both businesses and governments, innovative recycling solutions tailored specifically for bottles are gaining momentum, further bolstering their dominance in the post-consumer recycled plastics market. This trend underscores the pivotal role of bottles as the fastest-growing source of recycled plastics, fueled by their ubiquity and the strategic imperative to curb single-use plastics.
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