Over the projection period, demand for recycled plastics is likely to be driven by rising worries about disposing of virgin plastic and rising knowledge about energy conservation (2019-2027).
Furthermore, rising recycled plastics utilisation in different end-use sectors such as automotive and building & construction, as well as these industries' rapid growth, is predicted to raise demand for recycled plastics products, resulting in market growth throughout the forecast period.
PET (polyethylene terephthalate) had the biggest market share in the global recycled plastics market in 2018, according to product category. The PET segment is expected to grow due to the ease of collecting raw materials in the form of plastic bottles and its easy recyclability.
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