Vancouver, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The global market size for Recycled Polyethylene (PE) reached USD 13.43 billion in 2022. As per the latest analysis conducted by Emergen Research, it is projected that the market will experience a consistent revenue Compound Annual Growth Rate (CAGR) of 11.4% throughout the forecast period. The notable drivers of this growth include the increasing awareness regarding the environmental impacts of single-use plastics and the growing demand for recyclable PE within the construction sector.
A notable strategy gaining traction involves certain businesses worldwide experimenting with an innovative approach. This approach entails the combustion of plastic products, accompanied by the incorporation of additives. The resulting mixture, known as a slurry, is then repurposed for road construction. This initiative serves the purpose of preventing plastics from accumulating in oceans and landfills. Among the pioneers in this endeavor is MacRebur, a company that has successfully developed plastic roads. Their method not only effectively utilizes single-use plastics for their intended applications but also contributes to minimizing the carbon footprint.
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Polyethylene (PE) recycling stands as a pivotal environmental endeavor. This material, widely employed in the fabrication of bottles, bags, and various everyday items, necessitates recycling due to its common use. The PE recycling process involves melting discarded plastic waste, shaping it upon solidification, and subsequently reintegrating it into usage cycles.
Furthermore, the upsurge in cognizance regarding energy conservation, rapid industrialization, and robust consumer demand amplifies the impetus behind the market's revenue expansion.
Additionally, the escalating awareness among consumers about the detrimental impacts associated with polyethylene products, coupled with a mounting array of governmental initiatives, is anticipated to propel revenue growth in the market. A notable instance transpired on March 2, 2022, during the Fifth United Nations Environment Assembly (UNEA-5), where 175 nations rallied behind a resolution advocating discussions on a universal, legally binding agreement aimed at eradicating environmental pollution and plastic waste. This resolution underscores the importance of resource-efficient practices, circular economy methodologies, as well as sustainable production and consumption of plastics.
However, challenges exist, encompassing the elevated costs linked to recycling equipment and technology, the presence of alternatives such as bio-based plastics, and the insufficiency of proper collection and sorting infrastructure for plastic waste. These factors collectively stand as potential constraints on the market's revenue expansion.
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Scope of Research
| Report Details | Outcome |
| Market Size In 2022 | USD 13.43 Billion |
| CAGR (2023–2032) | 11.4% |
| Revenue Forecast To 2032 | USD 38.85 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Product type, grade, application, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Birch Plastics Inc., Dart Container Corporation, Envision Plastics Industries, B & B Plastics Inc., Indorama Ventures Public Company Limited, SUEZ, Republic Services Inc., Waste Connections, Econic Technologies, and CarbonLite Industries Inc. |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global recycled PE market is fragmented, with many companies accounting for majority market revenue. Major companies are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective recycled polyethylene. Some major companies included in the global recycled recycled polyethylene (PE) market report are:
- Birch Plastics Inc.
- Dart Container Corporation
- Envision Plastics Industries
- B & B Plastics Inc.
- Indorama Ventures Public Company Limited
- SUEZ
- Republic Services Inc.
- Waste Connections
- Econic Technologies
- CarbonLite Industries Inc.
Strategic Development
- On 24 October 2022, Nova Chemicals Corp., which is based in Calgary, Alberta launched mechanical recycled Polyethylene resin (rPE) EX-PCR-NC4. rPE contains 100% post-consumer recycled PE. The new resin provides incredibly flexible design options, making it a great way to reduce packaging's carbon footprint and combat climate change. This technique used to process raw materials, yields a stable, consistent, and low-odor product.
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Some Key Highlights From the Report
- The injection grade segment accounted for largest revenue share the global recycled PE market in 2022. Granules of injection-grade High-Density Polyethylene (HDPE) plastic are more frequently utilized to make vessels where the material must be Ultraviolet (UV)-resistant. Granules that are resistant to chemicals are typically simple to process and have excellent low-temperature durability and are weatherproof.
- The packaging segment is expected to register steadily fast revenue growth rate in the global recycled PE market during the forecast period. Polyethylene (PE) is utilized worldwide to a degree of roughly 30% and is the most used plastic. Polyethylene makes up over 50% of the plastic used for packaging in Germany alone.
- The Asia Pacific market is expected to register fastest revenue growth rate in the global recycled PE market during the forecast period. This is attributed to rising awareness among millennials and Gen Z population towards the environment.
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Emergen Research has segmented the global recycled PE market on the basis of product type, grade, application, end-use, and region:
- Product Type Outlook (Revenue, USD Billion; 2019–2032)
- Low-density Polyethylene (LDPE)
- High-density Polyethylene (HDPE)
- Linear Low-density Polyethylene (LLDPE)
- Others
- Grade Outlook (Revenue, USD Billion; 2019–2032)
- Injection Grade
- Food Grade
- Others
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Bottles & Containers
- Films & Sheets
- Bags & Sacks
- Pipes & Fittings
- Others
- End-use Outlook (Revenue, USD Billion; 2019–2032)
- Packaging
- Construction
- Automotive
- Agriculture
- Consumer Electronics
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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