Dublin, April 16, 2024 (GLOBE NEWSWIRE) -- The "Ocean Bound Plastic Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The global ocean bound plastic market is expected to reach an estimated $1.5 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are growing demand for recycled plastic and sustainable practices, increasing awareness and initiatives to combat marine pollution, and rising government regulations promoting reduction of ocean-bound plastic.
The future of the market looks promising with opportunities in the packaging, building & construction, electronics, and automotive markets. Thisstudy includes a forecast for the global ocean bound plastic by resin type, application, and region.
Ocean Bound Plastic Market by Resin Type [Shipment Analysis by Value from 2018 to 2030]:
- Polyethylene Terephthalate (PET)
- Polyethylene
- Polypropylene
- Others
Ocean Bound Plastic Market by Application [Shipment Analysis by Value from 2018 to 2030]:
- Packaging
- Building & Construction
- Electronics
- Automotive
- Others
Ocean Bound Plastic Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Ocean Bound Plastic Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies ocean bound plastic companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the ocean bound plastic companies profiled in this report include:
- SUEZ
- Veolia
- B&B Plastics
- Oceanworks
- Jayplas
- Unifi
- KW Plastics
Ocean Bound Plastic Market Insights
Polyethylene terephthalate will remain the largest segment over the forecast period due to growing use of plastics in construction and packaging.
Within this market, packaging is expected to witness the highest growth due to rising preference for packaging made from recycled plastic.
APAC will remain the largest region over the forecast period due to growing use of ocean bound plastic from various end-use sectors, including the automotive and packaging industries of the region.
Features of the Global Ocean Bound Plastic Market
- Market Size Estimates: Ocean bound plastic market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Ocean bound plastic market size by resin type, application, and region in terms of value ($B).
- Regional Analysis: Ocean bound plastic market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different resin types, applications, and regions for the ocean bound plastic market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the ocean bound plastic market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
For more information about this report visit https://www.researchandmarkets.com/r/7njnhx
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