India Plastic Recycling Market is expected to show robust growth due to increasing marine deaths because of pollution in the forecast period, FY2017-FY2027.
According to TechSci report on, “India Plastic Recycling Market, By Region, Competition Forecast & Opportunities, FY2017 - FY2027” India plastic recycling market has shown promising growth in historical years until FY2021 and is expected to continue its growth in upcoming forecast years FY2023 to FY2027. India plastic recycling market owes its growth to the factors like higher demands for plastic and plastic products. Increasing consumption also leads the higher production of plastics thereby driving the growth of the India plastic recycling market in the upcoming five years. Moreover, surging demands for the recycled plastics over virgin plastic also drives the market growth. Increasing waste generation from residential, commercial and industrial sector that leads to increase in the plastic wase generation also supports the growth of the India plastic recycling market in the next five years. Increasing number of landfills flooding with plastic waste are also responsible for the surging demands for plastic recycling and thereby aiding the growth of the India plastic recycling market in the future five years. Growing research and technological advancements for advancing the plastic recycling procedures such that efficiency of waste management can be enhanced, along with supporting initiatives to save the environment are further substantiating the growth of the India plastic recycling market in the forecast years through 2027.
Lack of adaptability to separate the plastic wastes, the plastic that is accumulated in the landfills are often contaminated with food particles, and other wastes that makes separating the plastics difficult. Also, multilayered plastic products makes separation and cleaning if the resins very expensive, these factors may restrain the growth of the India plastic recycling market but increasing government initiatives and investments in the sector may aid the growth of the India plastic recycling market in the forecast period.
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The India plastic recycling market segmentation is based on type, source, method, end user, regional distribution, top 3 state analysis, and competitional landscape. Based on type, the market is bifurcated into polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS) and others. Polyethylene terephthalate (PET) is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of easy and cost-efficient recycling process of polyethylene. Moreover, excessive use of PET in most of the plastic products further leads the growth of the sub-segment along with the growth of the India plastic recycling market in the next five years.
By source, the market is further segmented into bottles, films, fibers, foams and others. Films are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of increasing usage of plastic films for the packaging products along with the production of plastic bags. Plastic films are thin continuous polymeric material that are used to separate areas or volumes, to hold items, to act as barriers, or as printable surfaces. Bottles may register significant growth in the next five years due to rising consumption of plastic bottles in the countries. Increasing demand for disposable plastic bottles for drinking water, and other beverages further aids the growth of the India plastic recycling market in the future five years.
A partial list of market players in the field includes:
- BASF India Limited
- Veolia India Private Limited
- SEUZ India
- The Shakti Plastic Industries
- Banyan Nation
- Gravita India Limited
- GEM Enviro Management Pvt Ltd
- B R Plastic Industries Private Limited
- Green India Polymers
- Green Roots Solutions
- Halifax Greentech LLP
- Jagriti Polymers
- Jay-Kay Plastics
- Knack Packaging Pvt. Ltd.
- Luckystar Group
- Macpac Plastics & Packaging LLP.
- Mittal Polygrains LLP
- Sharma Plastic
- Parkash Plastic
- Shakti Corporation Pvt. Ltd.
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“North India is anticipated to hold the largest revenue shares because of the presence of large numbers of landfills in the region. Moreover, presence of multiple rivers and increasing concerns regarding contamination of rivers due to plastic waste further facilitates the growth in the upcoming five years. Government initiatives like Swachh Bharat Abhiyan, and Plastic Bans may also support the market growth. Increasing concerns over depleting marine lives and increasing cases of mass death of marine life due to collected pollutants in the water would also support plastic recycling. Although the procedure is expensive, FDIs and government investments to reduce the plastic waste also substantiate the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Plastic Recycling Market By Type (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS) and Others), By Source (Bottles, Films, Fibers, Foams and Others), By Method (Thermal, Chemical, Mechanical, Landfill), By End User (Packaging, Building & Construction, Textile, Automotive, Electrical & Electronics and Others), By Region (Top 3 State), Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India plastic recycling market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India plastic recycling market.
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