Plastic Recycling Market Size, Share & Trends Analysis Report by Segmentations and Segment Forecasts 2022 – 2030
According to a research survey conducted by ChemView Consulting, in 2022, the Global Plastic Recycling Market was worth US$ 24,756.9 Mn and is expected to grow at a CAGR of 10.8% over the forecast period. While the historical CAGR is 9.7%, the market is expected to hit US$ 69,038.9 Mn by 2032 end.
According to The Verge, the call for lower priced purchaser digital products, along with laptops, mobile, modems, etc. has multiplied majorly thru e-trade websites. Rising utilization of purchaser electronics has propelled the call for recycled plastics in electrical & electronics and packaging applications, that is predicted to reinforce the marketplace boom. The international plastics marketplace is possibly to be pushed with the aid of using the growing intake of plastics in production, car, clinical devices, and electrical & electronics industries. Regulatory intervention to lessen the gross car weight to enhance gasoline performance and in the end lessen carbon emissions has pushed car Original Equipment Manufacturers (OEMs) to apply plastic as an alternative for metals, along with metal and aluminium, for fabricating car additives.
Moreover, the boom of the development enterprise in rising economies, along with Brazil, China, India, and Mexico, is predicted to pressure the product call for withinside the production of additives, along with insulation, fixtures, structural lumber, windows, and fences, over the forecast period. High product intake withinside the building & production quarter is credited to multiplied overseas investments in those nations because of supportive FDI norms & necessities for the redevelopment of public & commercial infrastructure. However, the COVID-19 pandemic critically affected the producing industries in 2020, which in addition affected the call for plastics.
Based on products, the marketplace has been divided into Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and others. The Polyethylene (PE) product section led the marketplace and accounted for greater than 31% proportion of the worldwide sales in 2021. This excessive proportion is attributed to the growing call for packaging cloth in purchaser goods, food & beverage, commercial, and numerous different industries. In addition, it’s miles normally utilized in laundry detergent packaging, milk cartons, reducing boards, and rubbish bins, amongst numerous different applications.
Polypropylene (PP) is substantially utilized in production car additives, packaging & labelling, clinical devices, and various laboratory system because of its great chemical and mechanical properties. It is immune to numerous chemical solvents, acids, and bases and has great mechanical strength. It is likewise most of the maximum broadly formulated plastics throughout the globe. In addition, additives produced the use of PP are fatigue resistant, that is useful withinside the building & production enterprise for generating plastic hinges, piping systems, purchaser-grade daily-use products, production mats, and carpets & rugs amongst numerous different applications. The boom of the car, packaging, building & production industries is predicted to pressure the call for recycled PP over the forecast period.
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A list of some of the key suppliers present in the market are:
- REMONDIS SE & Co. KG
- Republic Services, Inc.
- WM Intellectual Property Holdings, LLC
- Shell International BV
- Waste Connections
- Clean Harbors, Inc.
- Coventry AG
Report Coverage and Highlights
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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About ChemView Consulting:
ChemView Consulting is a leading market research firm in the Asia Pacific, with expertise in Chemicals & Materials, Food & Beverages, Packaging, Oil & Gas, New & Renewable Energy, and Disruptive Technologies. We are one of the top market intelligence firms specializing in business analytics with an expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
Our client base ranges from industry experts, investors, top companies in the chemicals; and oil & gas industry to SMEs, start-ups, and new entrants. We have worked with over 100 companies to upscale their position as the global leader in the chemical & materials landscape with our cutting-edge analytics and advisory services.
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