The global Plastic Recycling market had reached approximately 52 million tonnes in 2021 and is expected to grow at an impressive CAGR of 5.51% during the forecast period till 2030. The demand for recycled plastics market is projected to grow at a healthy CAGR globally as it finds application in packaging, automotive, building & construction, electrical and electronics industry, among others. Increasing usage of plastics due to their lightweight nature, durability, and other favorable properties led to high demand for plastics thereby adversely affecting the environment. Growing awareness about the benefits of energy-saving and the growing need to reduce the carbon footprint is likely to play a positive role to increase the demand for the global Plastic Recycling market.
Factors such as growing applications of recycled plastics in packaging, electrical & electronics, textile, building& construction, automotive, and other industries in addition to the advantages of using recycled plastics aids in lower energy consumption are likely to fuel the demand for Plastic Recycling in the upcoming years. Increasing government regulation and policies regarding the use of single-use plastics in various countries as well as the surge in investment to develop new technology resulting in higher energy efficiency is expected to foster the market demand. The global Plastic Recycling market is anticipated to reach a number of approximately 85 million tonnes in the forecast period of 2030.
North America followed closely by Asia-pacific is expected to be the largest generators and recyclers of plastic waste. These two regions hold almost 76 percent of the global Plastic Recycling market and are expected to maintain their dominance during the forecast period as well. The introduction of several regulations to promote the use of recycled plastic and the rise in demand for packed and packaged food are the contributing factors expected to strengthen the market growth in the forecast period.
Based on type, the global plastic can be recycled into Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others. Although, Polyethylene (PE) is dominating the global Plastic Recycling market. Plastics can be recycled by using methods such as landfill, thermal, mechanical, and chemical methods.
Based on the end-user industry, the global Plastic Recycling market is segmented into Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others. Due to wide usage in industries like food & beverage, pharmaceutical, and general-use goods, the Packaging industry is dominating the Plastic Recycling market. In 2021, this industry consumed approximately 40% of the market. Furthermore, Building and Construction industry also holds noticeable market shares.
Major players for Plastic Recycling globally include Masotina S.p.A, I.blu - Gruppo iren, Montello S.p.A., The Alba Group., GT Recycling, STF Group, Jayplas., Indorama Ventures Sustainable Solutions LLC, Viridor Polymer Recycling Limited, NPP "Polyplastic, Hubert Eing Kunststoffverwertung GmbH, Monoworld Recycling Ltd., Metro Plastic, Clean Tech U.K. Ltd, OOO "Fantastik Plastik," and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2030
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of Plastic Recycling which covers production, demand and supply of Plastic Recycling market in the globe.
• To analyse and forecast the market size of Plastic Recycling
• To classify and forecast Global Plastic Recycling market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Plastic Recycling market in the globe.
To extract data for Global Plastic Recycling market, primary research surveys were conducted with Plastic Recycling manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Plastic Recycling market over the coming years.
ChemAnalyst calculated Plastic Recycling demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of raw material to produce Plastic Recycling. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Plastic Recycling manufacturers and other stakeholders
• Organizations, forums and alliances related to Plastic Recycling distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Plastic Recycling manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Plastic Recycling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
|
Details
|
Market size Volume in 2021
|
52 million tonnes
|
Market size Volume by 2030
|
85 million tonnes
|
Growth Rate
|
CAGR of 5.51% from 2022 to 2030
|
Base year for estimation
|
2022
|
Historic Data
|
2015 – 2021
|
Forecast period
|
2023 – 2030
|
Quantitative units
|
Demand in million tonnes and CAGR from 2022 to 2030
|
Report coverage
|
Capacity By Company, Capacity by Location, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap
|
Segments covered
|
By End-Use: (Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
|
Regional scope
|
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
|
Pricing and purchase options
|
|
Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com