Global Recycled Plastics Market Analysis 2022

Global Recycled Plastics Market Analysis 2022

The Global Recycled Plastics Market is expected to reach $62.41 billion by 2028 growing at a CAGR of 5.3% from 2021 to 2028. Plastic has become one of the most considerable troubles to the environment, and with the rise in consumer awareness, the need for recycling plastic is gaining traction. Recycled plastics are waste or scrap plastic materials that are processed into useful products. As most of the polymer materials used globally are non-biodegradable, recycling of these materials is the solution to reduce the burden of polymer present in the environment. These recycled plastics have gone from localized marketplaces, where demand is based purely on cost effectiveness against virgin equivalents, to a global market where demand is focused on the highest value material.

Factors such as increasing awareness regarding energy savings and government responses, developing new recycling technologies, and rising favourable initiatives to promote the use of recycled plastics are driving the growth of the market. However, complications in the collection of raw materials and ban on imports of scrap or waste plastics in China are restraining the growth of the market.

Based on product, the polypropylene (PP) segment is going to have a lucrative growth during the forecast period which can be attributed to its rising usage in medical devices, manufacturing automotive components, packaging & labeling, and diverse laboratory equipment due to its excellent mechanical and chemical properties. Moreover, components produced using polypropylene are fatigue resistant, which is beneficial in the building & construction industry for producing piping systems, consumer-grade daily-use products, manufacturing mats, carpets & rugs, plastic hinges, among various other applications. In addition, the growth of the building & construction, automotive, and packaging industries is expected to drive the demand for polypropylene.

The key vendors mentioned are Custom Polymers, Biffa, B&B Plastics, Jayplas, Indorama Ventures Public Ltd, Alpek, Clear Path Recycling, B. Schoenberg & Co, MBA Polymers, Remondis SE & Co. KG, Plastipak Holdings, KW Plastics, Veolia, Republic Services, Suez, Stericycle, and Waste Connections, Inc.

Products Covered:

• Polyamides
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Polystyrene (PS)
• Polyvinyl Chloride (PVC)

Recycling Processes Covered:

• Chemical
• Mechanical

Sources Covered:

• Foams
• Films
• Fibers
• Bottles

End Users Covered:

• Textile
• Packaging
• Electrical & Electronics
• Building & Construction
• Automotive

Regions Covered:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Key Questions Answered in this Report:

• How this market evolved since the year 2020
• Market size estimations, forecasts and CAGR for all the segments presented in the scope
• Key Market Developments and financials of the key players
• Opportunity Analysis for the new entrants
• SWOT Analysis of the key players
• Fastest growing markets analyzed during the forecast period