New York, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Plastic Recycling Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Plastic Recycling Market Information by Material (Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polypropylene (PP) and others), Recycling Process (Mechanical and Chemical), Application (Packaging, Construction, Textile, Automotive and others) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast to 2030”, the market is projected to be worth USD 67.32 billion by 2030, registering a CAGR of 7.19% during the forecast period (2022 to 2030), the market was valued at USD 38.51 billion in 2021.
List of the key companies profiled in the Plastic Recycling Market Research Report includes–
- Asia Plastic Recycling Holding Limited
- B & B Plastics Recycling Inc
- B. Schoenberg & Co.
- CarbonLITE Industries LLC
- Clear Path Recycling
- Consolidated Container Company
- GreenLine Polymers, Imerys SA
- Indorama Ventures Public Company Limited
- Jayplas, Joe’s Plastics Inc.
- Kuusakoski Group Oy
- KW Plastics,
- Montello S.p. A.
- MTM Plastics GmbH
- Plasgran Ltd., Plastipak Holdings, Inc.
- Recycled Plastics UK
- RJM International Inc.
- Seraphim Plastics
- Shakti Plastics Industries
- Suez, Teijin Limited
- Ultra Poly Corporation,
- UltrePET, LLC
- Custom Polymers, Inc.
- Envision Plastics
- Plastic Recycling Inc.
- KW Plastics, Inc.
- UltrePET, LLC
- Seraphim Plastics
- MBA Polymers Inc.
- Green-O-Tech India
- Among others.
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Market Research Future’s Review on Plastic Recycling Market
The global plastic recycling market is witnessing a constant revenue rise. Factors such as increasing awareness about plastic recycling benefits and efficient outreach programs initiated by key industry players boost the market size. With rising government initiatives to promote waste management programs and stringent regulations to curtail carbon emissions, the market value is expected to escalate further during the years to come. The rising need to control environmental deterioration drives market growth. Also, increasing population, urbanization, and industrialization worldwide contribute to the market revenue growth.
Additionally, improving economic conditions worldwide boosts market value, increasing consumer purchasing power & lifestyle, and plastic product use. The rising use of plastic products creates the need for plastic recycling. Moreover, advances in plastic recycling technology, techniques, and processes push the market growth further, significantly controlling plastic waste at landfills.
Browse In-depth Market Research Report (188 pages) on Plastic Recycling
Plastic Recycling Market – Segments
The report is segmented into type, source, method, end-user, and regions. The type segment is bifurcated into polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), polystyrene (PS), polyvinyl chloride (PVC), and others. The source segment is bifurcated into films, bottles, foams, fibers, and others.
The method segment is bifurcated into landfill, chemical, thermal, mechanical, and others. The end-user segment is bifurcated into building & construction, packaging, textile, electrical & electronics, automotive, and others. The region segment is bifurcated into Europe, the Americas, APAC, MEA, and rest-of-the-world.
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Global Plastic Recycling Market – Geographical Analysis
APAC dominates the global plastic recycling market, accounting for a significant market share. Favorable regulations and the rising awareness for bio-hazards of plastic waste boost the region’s market share. Besides, factors such as increasing plastics use due to the growing population and economic growth in the region drive the market growth.
Government-intensive programs and the spurring rise in end-use sectors substantiate the market size in the region. The Asia Pacific plastic recycling market is expected to retain its dominance throughout the forecast period.
Plastic Recycling Market – Competitive Analysis
With the presence of several well-established players, the global market of plastic recycling appears to be highly competitive. Well-established players incorporate acquisition, collaboration, partnership, expansion, and technology launch to gain a larger competitive advantage in this market. Heavy investments are made to drive R&D activities and expansion plans.
Nov.16, 2021 --- Morrisons, a British supermarket chain, announced the acquisition of a significant stake in a new plastic recycling site in Scotland. Morrisons co-owns this facility with a leading recycling plant expert, Yes Recycling, also responsible for the plant’s construction. The Fife recycling plant would process all low-grade plastics, including non-PET food films and sweet wrappers.
Segmentation of Market covered in the research:
Plastic Recycling Market: Information by Material (Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polypropylene (PP) and others), Recycling Process (Mechanical and Chemical), Application (Packaging, Construction, Textile, Automotive and others) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast to 2030
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