Recycled Plastics Market Sees Explosive Growth Globally

According to the latest research report published by Market Data Forecast, the global recycled plastics market was valued at USD 44.99 billion in 2023 and this value is estimated to grow at a CAGR of 8.5% from 2024 to 2029 and be worth USD 73.4 billion by 2029 from USD 48.81 billion in 2024.

Plastic has become one of the most considerable troubles to the environment, and with the rise in consumer awareness, the need for recycling plastic is gaining speed. In the last few years, many companies have entered the Recycled Plastics Market. Though widely spread, the global recycled plastic market is majorly segmented owing to the presence of numerous unorganized and small players in underdeveloped countries.

Global Recycled Plastics Market Report Scope:

• Market Size (2029): USD 73.4 Billion
• Market Size (2023): USD 44.99 Billion
• CAGR (2024 to 2029): 8.5%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Material, Recycling Process, Application, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: B & B Plastics Incorporation, B. Schoenberg & Corporation, PARC Corporation, Omni Resource Recovery, Custom Polymers Incorporation, United Plastic Recycling, Coll Materials/Nicos Polymers, Maine Plastics Incorporation, Norwich Plastics, APC recycling, NAM polymers, and Others.

Market Drivers:

The demand for recycled plastics will rise because of the increased use of these materials by significant players in the automotive, electrical & electronics, and packaging industries. These businesses use more than 6 million tons of plastic packaging annually. Moreover, because of this, it is projected that the market for recycled plastics will keep growing.

Several laws have been passed or are in the works in the industrialized economies of North America and Europe to encourage the recycling of plastics. Also, some US jurisdictions provide tax breaks or credits to encourage plastic recycling. This would lead to a notable increase in public sector funding for waste-related initiatives. Thus, it is anticipated that developed economies' beneficial actions will open new growth prospects for recovered plastics.

The demand for components like insulation, fixtures, structural lumber, windows, fences, and many more would likely be driven by the expansion of the building industry in rising nations like Brazil, China, India and Mexico. Moreover, because FDI regulations and standards for the rehabilitation of public and industrial infrastructure have been loosened, there has been a rise in foreign investment in these nations' construction industries, which is responsible for the expansion of the recycled plastic market in the building and construction sector.

Market Restraints:

The practice of recycling and repurposing discarded and frequently wasted plastics to create new, lower-quality products is known as downcycling. This implies that the plastic transforms into a different, less functional product rather than into yet another new container. Compared to fresh plastics and other recycled materials, recycled plastics are less useful due to their limited application. Plastic is usually not suitable for further recycling after downcycling. Consequently, it sees a secondary usage as a less useful product and ends up in a landfill.

The recycled plastics market is heavily reliant on the appropriate gathering of raw materials or plastic fragments or trash. Merely 14 percent of plastic packaging used worldwide is recycled, with the remaining portion ending up in the oceans every year and harming aquatic species. The Ellen MacArthur Foundation estimates that recycling the remaining 86 percent of wasted plastics may generate enormous profits of between USD 80 and USD 120 billion. But without creating new techniques, it is not possible to anticipate realizing this revenue. Thus, one of the biggest obstacles facing the market's participants is the lack of raw material collecting opportunities.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/recycled-plastics-market

Key Insights from The Report:

• Based on material, the polyethylene terephthalate segment led the market and accounted for the largest share of the global market in 2023.
• Based on recycling process, the chemical segment captured the highest share of the global market in 2023.
• Based on application, the packaging segment occupied the majority of the global market share in 2023.
• North America dominated the recycled plastics market in 2023. Europe accounted for the second-highest share of the global market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Material:
• Polyethylene Terephthalate (PET)
• High-Density Polyethylene (HDPE)
• Low-Density Polyethylene (LDPE)
• Polypropylene (PP)
• Others

By Recycling Process:
• Mechanical
• Chemical

By Application:
• Packaging
• Construction
• Textile
• Automotive
• Others

By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Browse Regional Reports:

North America Recycled Plastics Market Research Report - Segmentation By Type, Sources, Industry and Country (The United States, Canada and Rest of North America) - Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast from 2024 to 2029 - https://www.marketdataforecast.com/market-reports/north-america-recycled-plastics-market

APAC Recycled Plastics Market Research Report - Segmented By Material Recycling process, Application and Country (India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC) - Industry Size, Share, Trends & Growth Forecasts (2024 to 2029) - https://www.marketdataforecast.com/market-reports/asia-pacific-recycled-plastics-market

Middle East and Africa Recycled Plastics Market Research Report - Segmentation by Source (Bottles, Films, Fibers, Foams), Type (PET, PE, PP, PVC, PS), End-Use Industry (Packaging, Building & Construction, Textiles, Automotive, Electrical & Electronics) and Region - Forecast to 2028 - https://www.marketdataforecast.com/market-reports/middle-east-and-africa-recycled-plastics-market

Europe Recycled Plastics Market Research Report - Segmented By Source, Type, End-Use Industry and Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/europe-recycled-plastics-market

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions

2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline

3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemiology

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market

5. Market Segmentation
5.1 Recycled Plastics Market By, Source
5.1.1 Introduction
5.1.2 Bottles
5.1.3 Films
5.1.4 Fibers
5.1.5Foams
5.1.6Y-o-Y Growth Analysis, By Source
5.1.7Market Attractiveness Analysis, By Source
5.1.8Market Share Analysis, By Source
5.2 Recycled Plastics Market By, Type
5.2.1 Introduction
5.2.2 PET
5.2.3 PE
5.2.4 PP
5.2.5 PVC
5.2.6 PC
5.2.7 Y-o-Y Growth Analysis, By Type
5.2.8 Market Attractiveness Analysis, By Type
5.2.9 Market Share Analysis, By Type
5.3 Recycled Plastics Market By, End-Use Industry
5.3.1 Introduction
5.3.2 Packaging
5.3.3 Building & Construction
5.3.4 Textiles
5.3.5 Automotive
5.3.6 Electrical & Electronics
5.3.7 Y-o-Y Growth Analysis, By End-Use Industry
5.3.8Market Attractiveness Analysis, By End-Use Industry
5.3.9Market Share Analysis, By End-Use Industry

6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Source
6.1.3.3 By Type
6.1.3.4 By End-Use Industry
6.1.4Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Source
6.1.4.3 By Type
6.1.4.4 By End-Use Industry
6.1.5Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Source
6.1.5.3 By Type
6.1.5.4 By End-Use Industry
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 The Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa

7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five Analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry

8. Market Leaders' Analysis
8.1 Plastipak Holdings (US)
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Veolia (France)
8.3 Suez (France)
8.4KW Plastics (US)
8.5 Jayplas (UK)
8.6 B. Schoenberg & Co. (US)
8.7 B&B Plastics (US)
8.8 Green Line Polymers (US)
8.9 Clear Path Recycling (US)
8.10 Custom Polymers (US)

9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations, and Joint Ventures
9.4 New Product Launches

10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures

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