Dublin, March 14, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Material & Chemical business-consulting firm, has published a market intelligence and competitive landscape report on the “Recycled Plastics Market”. The total market opportunity for the Recycled Plastics market was USD 26.8 Bn in 2021 and is expected to grow at 8.9 percent CAGR over the forecast period to reach USD 53.01 Bn by 2029.
| Market Size in 2021 | USD 26.8 Bn |
| Market Size in 2029 | USD 53.01 Bn |
| CAGR | 8.9 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 260 |
| No. of Tables | 135 |
| No. of Charts and Figures | 125 |
| Segment Covered | Product, Type, and Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Recycled Plastics Market Scope and Research Methodology
The report is a comprehensive analysis of the Recycled Plastics Market by region, segment and competitive landscape. For understanding the global factors affecting the Recycled Plastics Market, the report presents drivers, challenges, restraints, and opportunities prevailing in the Recycled Plastics Market. The report covers the current trends prevailing in the Recycled Plastics market along with estimations about future trends to help understand investors identify investment pockets and opportunities in the Recycled Plastics Market. The segments covered in the Recycled Plastics Market report are by Product, Type, and Application.
The report is equipped with a competitive analysis of the Recycled Plastics Market players. Key players and new entrants in the Recycled Plastics Market are listed together. The Recycled Plastics Market was analysed by region, revenue, financial status, portfolio, technological advancement adopted, social, social media presence, and mergers and acquisitions. The new entrants in the Recycled Plastics Market were researched for growth prospects and future business outlooks. The analysis acts as a guide for stakeholders, investors, market players and followers, and new entrants with an overall view of the Recycled Plastics Market for formulating investment approaches and marketing tactics. Bottom-up approach was used to estimate the Recycled Plastics Market size and volume.
Recycled Plastics Market Overview
Recycled Plastic in packaging is plastic produced from recycled materials. Recycling provides many benefits to the environment. All plastic is derived from fossil fuels, and the process of manufacturing plastic produces hundreds of Millions of tonnes of greenhouse gases. Harmful pollutants are released in poorly controlled combustion facilities which results in the production of plastic recycling.
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Packaging industry is expected to influence the Recycled Plastics Market growth
Adoption of recycled plastic in the packaging industry is advancing in various industries such as food & beverage, and consumer goods. Consumption of Recyclable polymer is increasing due to high demand of food safe packaging material. Recycled plastic or polymer are used in the packaging of products such as sports equipment, fashion accessories, and toys which increases the durability of the product and these factors are expected to influence the Recycled Plastics Market growth. Demand for high-density polyethylene and low-density polyethylene with and without additives are expected to drive the Recycled Plastics Market growth.
High preference for Virgin Plastics over the recycled alternatives in several applications, including the packaging of food is expected to restrain the Recycled Plastics Market growth. Volatile organic compounds released into the atmosphere during recycling of plastic is a restraining factor for the Recycled Plastics Market growth.
Asia Pacific region is expected to be the fastest growing recycled plastic market over the forecast period
Asia Pacific region held the largest Recycled Plastics Market share in 2021 and is expected to maintain the shares over the forecast period. Large number of water bottle manufacturers present in the region, and the consumption of plastic bottles by consumers are expected to influence the regional Recycled Plastics Market growth. High production and consumption of packaging products in China is expected to influence the regional market growth.
North American region is expected to be the fastest-growing recycled plastics market over the forecast period. Use of recycled plastic in the products and to help the region stay free of pollution caused by the plastic is expected to drive the regional Recycled Plastics Market growth.
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Recycled Plastics Market Segmentation
Based on Products, Bottles segment is expected to be the largest source of Recycled Plastics Market over the forecast period
Bottles are the fastest-growing source of recycled plastics. Bottles are the most recycled post-consumer plastics due to better network for the collection and sorting. Recycling business is mostly dependent on plastics due to easy availability.
Based on Application, Packaging segment is expected to dominate the Recycled Plastics Market growth over the forecast period
Packaging segment is expected to witness a significant growth with a CAGR of 8.2 percent over the forecast period. Use of recycled materials in packaging production with technical, economic, environmental, social, and legal obstacles are factors responsible for the growth of Recycled Plastics Market growth.
By Product:
- Bottles
- Films
- Fibers
- Foams
- Others
By Type:
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Polystyrene (PS)
- Others
By Application:
- Packaging
- Building & Construction
- Textile
- Automotive
- Electrical & Electronics
- Others
Recycled Plastics Market Key Players include:
- Clear Path Recycling(US)
- Custom Polymers(US)
- Plastipak Holdings(US)
- Republic Services (US)
- Stericycle(US)
- KW Plastics(US)
- B. Schoenberg & Co.(US)
- B&B Plastics(US)
- Waste Connections, Inc.(US)
- MBA Polymers(US)
- Indorama Ventures (Thailand)
- Veolia (France)
- Suez(France)
- Jayplas (UK)
- Biffa(UK)
- Alpek (Mexico)
- Far Eastern New Century Corporation (Taiwan)
- Remondis SE & Co. KG (Germany)
Suez(France):
Suez recycles low-density polyethylene and linear low-density polyethylene plastics. It is one of the Thailand largest low-density polyethylene recycling plants and operates in the highest level of compliance. Company converts 30,000 tonnes of plastic packaging waste into high quality plastic. The total revenue of the Suez is USD 400.77 Million.
Plastipak Holdings (US):
Plastipak Holdings is the global leader in the packaging and recycling industries. Plastipak is driven by innovation and operates at more than 50 sites. They are having high-volume manufacturing capabilities and centralized location to Showcase Products and Processes. The company annual revenue is 2.9 Bn.
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Key questions answered in the Recycled Plastics Market are:
- What is Recycled Plastics?
- What was the Recycled Plastics market size in 2021?
- What is the forecast period of Recycled Plastics market?
- What will be the Recycled Plastics market size by 2029?
- What is the growth rate of the Recycled Plastics Market?
- Which factors are expected to influence the Recycled Plastics Market growth?
- What factors are expected to hamper the Recycled Plastics Market growth?
- Which segment dominated the Recycled Plastics Market growth?
- What is the demand pattern for the Recycled Plastics market?
- Which region held the largest share in the Recycled Plastics market?
- Who are the key players in the Recycled Plastics market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Product, Type, and Application
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Recycled Plastic Tiles Market: The total market size was valued at USD 46.09 Bn in 2021 and is expected to grow at a CAGR of 4.8 percent from 2022 to 2029, reaching USD 67.06 Bn. Increasing use of plastic in the production of lightweight components is expected to influence the market growth.
Recycled Elastomers Market: The total market size is expected to reach USD 6.66 Bn by 2029, at a CAGR of 11.5 percent during the forecast period. Stringent government rules and regulation to reduce emission of pollution, and increasing R&D activities are expected to influence the market growth.
Recycled Construction Aggregates Market: The total market size was valued at USD 123.96 Bn in 2021 and is expected to reach USD 207.94 Bn by 2029 at a CAGR of 6.68 percent during the forecast period. Expansion in the urban areas into the developing one is expected to drive the market growth.
Recycled Plastic and Plastic Waste to Oil Market: The total market size is expected to reach USD 120.97 Mn by 2029, with a growth rate of 9.99 percent during the forecast period. Rising demand for fuel to capitalize on plastic wastes to generate oil by escalating the installation of plastic to oil systems is expected to influence the market growth.
Plastic Films and Sheets Market: The total market size was valued at USD 125.3 Bn in 2021 and is expected to grow at 4.5 percent from 2022 to 2029, reaching USD 178.19 Bn. Demand for bi-axially oriented films across the world is expected to fuel the market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
