The global recycled ocean plastics market size is expected to reach USD 3,448.91 million by 2032, according to a new study by Polaris Market Research. The report “Recycled Ocean Plastics Market Share, Size, Trends, Industry Analysis Report, By Resin Type; By Source (Plastic Bottles & Caps, Fishing Line & Nets, Plastic Bags, Others); By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing awareness of plastic recycling has led to the growth of the recycling of ocean plastics worldwide. Governments and non-profit groups are actively working to reduce plastic use and recycle plastic waste. However, plastic pollution from land-based and marine sources threatens marine life and human health. Ingestion and entanglement in plastic waste cause harm to marine wildlife, negatively impacting ecosystem health and fisheries sustainability.
The demand for recycled plastic is expected to rise steadily, with Europe and the Asia Pacific taking the lead in engaging in the recycling plastics market. Although the COVID-19 pandemic initially impacted the growth of the recycled ocean plastics market, it later increased, leading to positive outcomes over the forecast period.
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While the growth of the recycling plastics market is encouraging, plastic pollution remains a significant challenge that needs urgent attention. Addressing plastic waste in land-based and marine sources is critical to protecting marine life and human health. Efforts to reduce plastic use and promote recycling must be sustained to achieve a cleaner and healthier environment.
Recycled Ocean Plastics Market Report Highlights
Polaris Market Research has segmented the Recycled Ocean Plastics market report based on resin type, source, end-use, and region:
Recycled Ocean Plastics, Resin Type Outlook (Volume - kiloton, Revenue - USD Million, 2019 - 2032)
Recycled Ocean Plastics, Source Outlook (Volume - kiloton, Revenue - USD Million, 2019 - 2032)
Recycled Ocean Plastics, End-Use Outlook (Volume - kiloton, Revenue - USD Million, 2019 - 2032)
Recycled Ocean Plastics, Regional Outlook (Volume - kiloton, Revenue - USD Million, 2019 - 2032)