Global Plastic Recycling Market: Overview
Plastic Recycling market is anticipated to worth USD 50.2 billion by 2025, with
a CAGR of 4.95% during 2019-2025. Global Plastic Recycling Market is witnessing significant growth over the forthcoming years owing to the concerns rising out due to the difficulty in decomposing the virgin plastics, growing awareness of energy savings, and the increasing use of these plastics in many applications are expected to positively influence the growth of the recycled plastics market. Recycled plastics can be used in a wide range of goods and hence the applications of recycled plastics are escalating owing to the advancements in superior recycling technologies.
The global population is exponentially rising and economic and industrial activities thrive at an even faster rate which accounts for a large portion of total waste generated on an everyday basis from several sources thus raised the need to recycle the waste plastic. Moreover, the negative environmental impact of plastics disposal drives the global recycled plastics market. The production of plastics has increased manifold over the past few decades which have led to the generation of a huge amount of waste resulting in environmental concerns. Furthermore, recycled plastics are gaining significance as the solution to limit the growing concerns of the effects of plastics pollution, as recycling results in the decrease in the use of energy and material and improve eco-efficiency. These factors play a significant role in driving the usage of recycled plastics over the coming years.
Global Plastic Recycling Market- Market Analysis
The global Plastic Recycling Market on the basis of material is segmented as (Polyethylene Terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polystyrene (PS), and Polyvinyl Chloride (PVC). The Polyethylene Terephthalate (PET) has a maximum share in the global market and is expected to grow at a robust rate over the course of the forecast period. PET is sought after for two main reasons – it is easily available in recycled waste scrap and it costs less when compared to other recycled plastics. In addition to this, the recycling rate of PET is high. However, High-density polyethylene is also growing owing to a large portion of the plastic scrap such as grocery bags, margarine tubes, and detergent bottles often consist of HDPE resins.
Global Plastic Recycling Market- Regional Analysis
The global Plastic Recycling Market on the basis of region is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region accounted for the largest market share of the global plastic recycling market and is expected to dominate over the forecast period. The region is growing as the developed countries in Europe and North America export plastic scrap to Asia, mainly Southeast Asia, for recycling, due to the lack of stringent government regulations and lenient landfill laws in the region. However, the plastic recycling market in Europe is projected to expand at a rapid pace during the forecast period. Moreover, several countries in Europe have imposed a ban on dumping recyclable plastic waste in landfills which has significantly increased the plastic recycling rate in these countries.
Key Development in the Market
In November, 2017, SUEZ and LyondellBasell (US)
signed a joint venture agreement focusing on the production of high-quality
circular polymers. The company produces PP and HDPE recycled plastics
In July 2017, Suez started a joint venture with
Kempenaars Recycling (Netherlands). The new company is known as SK Polymers and
is finding a better way to recycle hard plastics.
In November 2016, Plastipak Packaging acquired
the business assets of Evolve Polymers (UK), one of Europe’s leading plastics
recyclers from Aurelius Equity Opportunities. They have a processing capacity
of 6-9 billion PET bottles into food-grade flake and pellets and polypropylene
and polyethylene flake.
Global Plastic Recycling Market: Competitive Landscape
The major players operating in the global plastic recycling market includes CarbonLITE Industries, Seraphim Plastics, MBA Polymers Inc., Kuusakoski Group Oy, Envision Plastics, Custom Polymers, Inc., Plastic Recycling Inc., UltrePET LLC, KW Plastics, Inc., Green – O – Tech India, Kishco Pvt. Ltd., Boer Group, Miller Waste Mills, Inc., Recycling Textile sro, and Knebel Textilrecycling GmbH. Moreover, the key players are focusing towards provision of greater quality products to retain customer loyalty, since low switching costs and product differentiation have reduced supplier power. Furthermore, companies are thus actively engaged in research and product development, technological advancements, and strategic collaborations to consolidate their position in the global market.
Objective of the Study:
To analyze and forecast market size of the global plastic
recycling market, in terms Value
To examine the careful market segmentation and forecast the market
size, on the basis of region, segmented into 5 regions, namely, North America,
Europe, Asia Pacific, MEA, & LATAM and major countries in the respective
To outline, categorized and forecast the global plastic recycling
market on the basis of source, material, and End-User Industry.
To examine competitive developments like expansions, technological
advancement, new product launches, and regulative framework within the global
plastic recycling market.
To identify the drivers and challenges for global plastic
To spot the profile of leading players and an array of strategy
outlook and SWOT analysis of major industry players.
Scope of the Report
Polyethylene Terephthalate (PET)
High Density Polyethylene (HDPE)
Low Density Polyethylene (LDPE)
Polyvinyl Chloride (PVC)
By End-Use Industry
Building and Construction
Electrical & Electronics
In addition, the report provides analysis of the plastic recycling market with respect to the following geographic segments:
Asia Pacific (APAC)
Middle East and Africa
Customization Scope for the Client
Client satisfaction is our first and last priority. And that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
With three additional company detail analysis.
Additional country analysis.
Detailed segment analysis.