Recycled Plastics Market Overview:
The Recycled Plastics Companies provides a full insight into the competition, including the market share and company profiles of the key worldwide rivals. The scope of the research covers a thorough investigation of the Recycled Plastics Market, as well as the causes for variances in the industry's growth in different regions.
Estimated Increase in Revenue:
Recycled Plastics Market was valued at US$ 26.8 Bn. in 2021 and the total Recycled Plastics revenue is expected to grow at 8.9% from 2022 to 2029, reaching nearly US$ 53.01 Bn.
Recycled Plastics Market Scope:
Following the completion of market engineering, which comprised market statistics calculations, estimations of market size, market projections, market breakdown, and data triangulation, major primary research was conducted to obtain information and verify and validate critical numbers. Top-down and bottom-up strategies, as well as several data triangulation procedures, were often used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.
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Recycled Plastics Market Dynamics:
The market for recycling plastic has tremendous growth potential and is a popular topic that frequently makes the headlines. Only 31% of the plastic trash gathered in Europe, according to the most recent data, was recycled; the rest was burned (creating CO2 emissions) or dumped (squandering land). At 41%, the recycling rate for rubbish that contains plastic packaging is slightly higher. The percentages of recycled material decrease even further when the amount of plastic that is not even recovered but seeps into the environment is taken into account. The European Union (EU) has raised recycling goals for its member nations due to the advantages recycling plastic waste provides for the environment.
Recycled Plastics Market Segment Analysis:
The packaging category is anticipated to expand at a CAGR of 8.2% over the projected period, broken down by end-use industry. There are a number of technological, financial, environmental, social, and legal challenges that must be overcome in order to employ recycled materials in package manufacture. A few examples are rising recycling costs, a lack of raw materials, the availability of technology to separate different components, and a rise in legal activities. Operators that want to employ secondary raw materials face a number of difficulties, one of which is uncertainty regarding their quality. When efforts to address the problem of hazardous substances in packaging are postponed until the end of the process rather than eliminated at the start of the product cycle, many problems in packaging recycling develop.
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Major Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers' annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
• Indorama Ventures
• Veolia
• Suez
• Jayplas
• Alpek
• Biffa
• Republic Services
• Stericycle
• Far Eastern New Century Corporation
• KW Plastics
• B. Schoenberg & Co.
• B&B Plastics
Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Recycled Plastics market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
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COVID-19 Impact Analysis on Recycled Plastics Market:
End-user industries where Recycled Plastics are utilised saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Recycled Plastics manufacturers, influencing the development of the Recycled Plastics market in 2020. End-user business demand for Recycled Plastics has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Recycled Plastics Market Report are:
- In 2021, which segment held the highest proportion of the Recycled Plastics market?
- What is the Recycled Plastics market's competitive landscape?
- What are the primary drivers assisting Recycled Plastics market growth?
- Which region has the most market share in the Recycled Plastics market?
- What will be the Recycled Plastics market's CAGR throughout the projected period (2022-2029)?
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