“Growing awareness to curb the pollution caused by plastic disposal and the environmental benefits such as energy savings are the factors driving the growth of the recycled plastics market”
The global recycled plastics market is estimated at USD 36.93 billion in 2017 and is projected to reach USD 50.36 billion by 2022, at a CAGR of 6.4% between 2017 and 2022. The market is witnessing growth due to the growing preference for recycled plastics over virgin plastics as a result of severe pollution caused by the disposal of used plastics in oceans and the scarcity of landfill areas in many countries. Factors such as the increasing use of recycled plastics in many new applications in the packaging, automotive, and electrical & electronics industries and many favorable initiatives by governments in many countries promoting the use of recycled plastics offer lucrative opportunities for the growth of the recycled plastics market. High cost of recycled plastics and stringent competition from virgin plastics in terms of performance are the major factors restraining the growth of the market. The proposed ban by China on import of certain waste plastic scraps and irregular collection of waste plastics for its reprocessing are some of the factors challenging the growth of the recycled plastics market globally.
“Packaging: The fastest-growing segment of the recycled plastics market, by end-use industry”
Packaging is estimated to be the fastest-growing end-use industry segment of the recycled plastics market during the forecast period. This growth is attributed to the increasing use of recycled plastics in food and beverage packaging, as technological advancements have made recycled resins suitable for food applications, which was not the case until a few years earlier.
“Polyethylene Terephthalate (PET): The fastest-growing segment of the recycled plastics market, by type”
Polyethylene Terephthalate (PET) is estimated to be the fastest-growing type segment of the recycled plastics market during the forecast period (2017-2022). PET segment is expected to have the highest growth as PET-based plastics are easy to recycle, and PET bottles are the most easily sorted and collected source of used plastics.
“North America: The fastest-growing market for recycled plastics, by region”
The North America region is estimated to be the fastest-growing market for recycled plastics during the forecast period. The growth of the recycled plastics market in North America is growing due to the several initiatives taken in the region to increase the use of recycled plastics. Many companies such as Coca-Cola, Unilever, Walmart, Target Corp., Procter & Gamble Co., Ecover, Evian, L’Oréal, Mars, M&S, PepsiCo, Campbell Soup, Amcor Werner & Mertz, and Keurig Green Mountain Inc. have pledged to the Association of Plastics Recyclers (US) to increase the use of recycled plastics in their products.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided into three categories, namely, by company, by designation, and by region.
• By Company Type: Tier 1 - 50%, Tier 2 - 33%, and Tier 3 - 17%
• By Designation: C Level - 17%, Director Level - 33%, and Others - 50%
• By Region: North America - 25%, Asia Pacific - 38%, Europe - 25%, and Middle East & Africa – 12%
The report also provides company profiles and competitive strategies adopted by major market players, such as Veolia (France), Suez (France), KW Plastics (US), Jayplas (UK), B. Schoenberg & Co. (US), B&B Plastics (US), Green Line Polymers (US), Clear Path Recycling (US), Custom Polymers (US), and Plastipak Holdings (US), among others.
The report covers the recycled plastics market and its applications across different industry verticals and regions. It aims at estimating the market size and growth potential of this market across different segments, such as source, type, and end-use industry. The report also includes an in-depth competitive analysis of the key market players along with their company profiles.
Reasons to buy this report:
From an insight perspective, this research report has focuses on various levels of analyses — industry analysis (industry trends) and company profiles, competitive landscape; emerging and high-growth segments of the recycled plastics market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on recycled plastics offered by the top players in the global recycled plastics market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the global recycled plastics market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for recycled plastics across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global recycled plastics market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global recycled plastics market