The global recycled plastics market size is expected to reach USD 68.81 billion by 2030, according to a new study by Polaris Market Research. The report “Recycled Plastics Market Share, Size, Trends, Industry Analysis Report, By Type (Polyethylene (PE), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Others); By Source; By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growth of the industry is attributed to the increased focus on lowering the volume of plastic waste, encouraging government regulations, and increasing acceptance of recycled products. The development in industrialization and commercialization has boosted plastic usage, which has resulted in a significant increase in plastic waste.
Have Questions? Request a sample or make an Inquiry before buying this report by clicking the link below: https://www.polarismarketresearch.com/industry-analysis/recycled-plastics-market/request-for-sample
Growing inclination toward minimizing the environmental impact of plastic items is a major supporting the growth of the industry. Many corporations are establishing sustainability goals and incorporating recycled plastics into their products. Also, the increasing use of recycled plastics in textiles and automotive industries drives the growth of this industry.
Based on the end-use industry, the global market is segmented into packaging, automotive, construction, textile, electrical & electronics, and others. The packaging segment accounted for a major share in 2021. The increasing trend of E-commerce has increased the demand for packaging solutions comprising recycled plastics.
The growth in demand for convenience and food products has also boosted the application of the industry. The rise in population, growth in demand from the electronics sector, and greater need to reduce packaging waste are factors expected to influence the industry during the forecast period.
Asia Pacific is estimated to account for the largest revenue share in the recycled plastic industry. Rising industrial growth, urbanization, and growth in the e-commerce sector support the industry growth in this region. Increasing application in construction and automotive industries coupled with increasing environmental awareness fuels growth in this region.
Recycled Plastics Market Report Highlights
- Plastic bottles segment is estimated to account for the largest revenue share due to their use in water, pharmaceuticals, and carbonated drinks
- Polyethylene terephthalate is the largest segment owing to the several properties that it exhibits including transparency, durability, and completely recyclable along with its wide use in food packaging and bottles
- Packaging segment dominated the global market owing to greater concerns regarding packaging waste and increasing environmental concerns. Additionally, there are several industry players who are taking initiatives to develop recycled packaging solutions to reduce the environmental impact associated with packaging
- Asia Pacific accounted for a significant share of the market owing to growth in the e-commerce industry and strengthening packaging sector coupled with wider application in construction and development activities
- The global market is highly competitive owing to the existence of large industry players with global presence including Alpek S.A.B. de C.V., Biffa plc, Custom Polymers, Envision Plastics Industries, Far Eastern New Century, Green Line Polymers, and Indorama Ventures among others
Polaris Market Research has segmented the recycled plastics market report based on type, source, end-use, and region:
Recycled Plastics, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polystyrene (PS)
Recycled Plastics, Source Outlook (Revenue – USD Billion, 2018 – 2030)
Recycled Plastics, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Electrical & Electronics
Recycled Plastics, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa