Recycled Plastic Market Global Industry Trends, Sales Revenue, Industry Growth, Development Status, Top Leaders, Future Plans and Opportunity Assessment 2027
The global ''recycledplastic market'' size is expected to witness significant growth backed byincreasing demand from the packaging industry. Fortune Business Insights,in its latest report, titled “Recycled Plastic Market Size, Share& Industry Analysis, By Type (Polyethylene Terephthalate, High-densityPolyethylene, Polypropylene, Low-density Polyethylene, and Others), ByApplication (Non-Food Packaging, Food Packaging, Construction, Automotive, andOthers), and Regional Forecast, 2019-2026.”, predicts that themarket is likely to hit USD 72.6 billion by 2026, while exhibitinga CAGR of 8.55% between 2019 and 2026. The reports furtherobserve that the market was worth USD 37.8 billion in 2018.
List of the Key Companies Operating in the Recycled Plastic Marketare:
- KW Plastics
- Veolia
- Custom Polymers
- Plastipak Holdings
- The Coca-Cola Company Incorporated
- Suez
- B. Schoenberg & Co.
- Fresh Pak Corporation
- B&B Plastics
- Green Line Polymers
- Ultra Poly Corporation
- Clear Path Recycling
- Jayplas
- MBA Polymers
- RJM International Inc.
- CarbonLite Industries LLC
- Envision Plastics Industries LLC
- ReVital Polymers
- Other Players
According to the data by the non-profit organization, PlasticOceans International, every year around 500 billion plastic bags are usedglobally. This means that over 1 million bags are being used every minute.Plastic is harmful to the environment in many ways and since most of theplastic material is non-biodegradable, it is important to find a solution toreduce the rampant production of plastic across the globe. Therefore, recyclingof the plastic to enable its reuse is vital to prevent environment degradation.Plastic is used across several industries such as packaging, food &beverage, pharmaceuticals, consumer goods, construction, and automotive, amongothers. A holistic approach to adopt recycled plastic from the end userindustries will ensure the safety of the environment.
What does the Market Report Offer?
The market report offers an exhaustive study of several factorssuch as drivers, restraints, challenges, and opportunities that will affect thegrowth of the market in the forthcoming years. The report covers regionaldemographics that include qualitative and quantitative information about theregions that are further divided into nations that are contributing to thegrowth of the market between 2019 and 2026. Furthermore, the competitivelandscape has been discussed in-depth that include information of severalplayers operating in the market. Moreover, information on the adoption ofstrategies such as merger and acquisition, collaboration, partnerships, andjoint ventures by the companies that will drive the growth of the market hasbeen included during the projected horizon.
Drivers and Restraints:
Increasing Demand from Packaging Industry to Favor Growth
The data from the Plastic Ocean International informs thatpackaging industry accounts for over 40% of the overall plastic usage globallyand is the largest end user segment. The consumption of plastic is increasingbacked by high demand for food-safety packaging material. The companies arefocusing on adopting recycled plastic that has low energy input and has reducednegative impact on the environment. For instance, recycled polyethyleneterephthalate is extensively adopted to manufacture bottles for beveragepackaging. Furthermore, increasing demand for packaging sports equipment, toys,and fashion accessories is likely to boost the global recycled plastic marketin the forthcoming years.
COVID-19 Impact Analysis:
The emergence of COVID-19 has brought the world to a standstill.We understand that this health crisis has brought an unprecedented impact onbusinesses across industries. However, this too shall pass. Rising support fromgovernments and several companies can help in the fight against this highlycontagious disease. There are some industries that are struggling and some arethriving. Overall, almost every sector is anticipated to be impacted by thepandemic.
We are taking continuous efforts to help your business sustain andgrow during COVID-19 pandemics. Based on our experience and expertise, we willoffer you an impact analysis of coronavirus outbreak across industries to helpyou prepare for the future.
Segmentation:
By Type
- Polyethylene Terephthalate (PET)
- High-Density Polyethylene (HDPE)
- Polypropylene (PP)
- Low-Density Polyethylene (LDPE)
- Others
By Application
- Non-Food Packaging
- Food Packaging
- Construction
- Automotive
- Others
By Geography
- North America (U.S. and Canada)
- Europe (Germany, UK, France, Italy, Spain, Poland, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (Saudi Arabia, Turkey, Egypt, and Rest Of Middle East & Africa)
Recycled Plastic Market Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Key Questions Answered:
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
Regional Analysis:
Presence of Established Manufacturers in Asia-Pacific to AidGrowth
Among the regions, the market in Asia-Pacific is likely to witnessexponential growth by generating the highest global recycled plastic marketrevenue during the forecast period. This is ascribable to factors such aspresence of established players in the region that is driving the demand forrecycled plastic. Furthermore, high consumption of plastic in countries such asIndia and China in Asia-Pacific will aid the market growth. Europe, on theother hand, is expected to witness growth backed by increasing demand for theproduct from the construction and automotive industry. Furthermore, stringentregulations by the government to limit single-use of plastic will favor marketgrowth in the region between 2019 and 2026.
Competitive Landscape:
Collaboration Strategies by the Companies to Stoke Demand
In March 2019, the Coca Cola Company announced its collaborationwith Diageo, Nestle, and Unilever to form an alliance known as the AfricanPlastics Recycling Alliance. The companies came together with an aim totransform plastic recycling infrastructures present in the sub-Saharan Africanregion, while trying to gain foothold in the emerging global marketplace.Adoption of strategies such as collaboration activities, partnership, andexpansion of product offering by the companies will bode well for the growth ofthe market during the forecast period.
Browse Detailed Research Insights with Table of Content: https://www.fortunebusinessinsights.com/recycled-plastic-market-102568
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