plastic recycling market size

Such factors have increased the plastic recycling market growth despite the widespread of COVID 19. Polypropylene is recycled rarely and used for making plastic products such as bottles, cups, medical devices, automotive parts, and others. The global plastics recycling market size was USD 38.52 Billion in 2021 and is expected to register a revenue CAGR of 6.57% during the forecast period. Germany accounted for largest revenue share for plastic waste recycling in the regional market followed by Italy, Spain, the UK, and France. Several industrial verticals were facing distress due to the loss in supply and demand ratio, lack of labor, and many other issues. During the pandemic, China's import restrictions on plastic waste, as well as supply chain disruptions and shortages of manufacturing feedstock, exposed fragility of plastic production and recycling infrastructure. Number of refugees and homeless individuals is increasing across the globe and there is an urgent need for an affordable housing solution. Summarizing the sources and end uses for recycled materials that are available. KW Plastics and KW Plastics Recycling Division. The North America market accounted for highest revenue growth in 2021 due to high focus on Research & Development (R&D) activities to develop advanced plastic recycling solutions. You will be added to our mailing list. Also, the manufacturing companies are focusing on the recycling methodologies that help in reducing the environmental pollution. Major manufacturers, such as Johnson Matthey, Republic Services, Inc., B & B Plastics Inc., and others, are investing in advanced technologies for development of innovative recycled plastic products, which is also contributing to market revenue growth. Reports are discounted or included with certain, All reports provided in PDF format. 2026 Already a member? HANGZHOU TAIFOR CHEMICAL TEXTILE FIBER CO. LTD. SHANDONG YONGPING RENEWABLE TIOMIN RESOURCES INC. TRANSCONTINENTAL RECYCLING MONTRAL/ENVIROPLAST INC. Comprehensive overview of the global markets for plastics recycling within the industry, Analyses of the global market trends, with data corresponding to market size for 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025, Assessment of market potential for recycled plastics, revenue forecast in dollar value terms and market volumes on the basis of resin type, source of waste, end use, application sector and geographical region, Country specific data and analysis of China, India, Vietnam, Indonesia, Japan, South Korea, Germany, Italy, France, U.K., Spain, U.S., Canada, Mexico, Brazil, Australia and South Africa, Latest information on major market drivers, opportunities and challenges, industry chain structure, regulatory and environmental updates, macroeconomic trends, and technological advancements that are affecting the overall marketplace, Identification of companies best-positioned to meet the global plastics recycling market demand owing to their proprietary technologies, mergers and acquisitions, joint ventures and other strategic alliances, Competitive landscape of the leading companies encompassing their successful marketing strategies, key contribution, and recent developments, Company profiles of market leading participants, including CarbonLITE, Kunststoffrecycling Ges.m.b.H, LyondellBasell, MBA Polymers Inc., MTM Plastics GmbH, Montello S.p.A., Teijin, Recycled Plastics UK and Shakti Plastics Industries, An overview of the global markets for plastic recycling, Analyses of global market trends, with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023, Discussion on the history and current state ofplastic recycling market, and future trends, Insight into the government regulationsand targets of the plastic recycling industry. Wood/fiber plastic composites may be made from several different resin types, each possibly derived from several different products. There is no established method or procedure in collecting the plastic waste from the manufacturing plants and production areas or sorting them according to the category of the plastics. Rising initiatives from governments of countries in this region, such as the Chinese government, have already banned use of non-recycled plastics in its several metropolitan cities contributing to revenue growth of the market.

The plastic recycling market can thrive at 7.19% CAGR by 2030.

Impact of COVID-19 on the Plastics Recycling Industry. | October 2020 It is less expensive to produce from recycled polyethylene than from virgin plastic and by using recycled polyethylene, companies can lower their costs and contribute to improve the environment. The plastics recycling market in Europe accounted for second-largest revenue share in 2021 due to rising government initiatives to speed up innovation in recycling plastics materials. Ltd., PET Recycling Company (PETCO), LyondellBasell, Geo-Tech Polymers, Phoenix Technologies International, LLC and MBA Polymers Inc. Coverage of history and current state of plastic recycling market, Insight into the government regulations and targets of the Plastic Recycling industry, Analyses of the company profiles of the industry. Also, the generation of PET waste which is utilized to manufacture several consumer goods such as combs, bottles, racks, and similar other objects is expected to grow with a higher growth rate during the forecast period. The global plastics recycling market is consolidated with a few large and medium-sized companies accounting for majority market revenue. Polyethylene is the most commonly used material used for making plastic products and easiest plastic to recycle. The presence of cheap labor and major industrial areas across the countries like China are considered as the major drivers of plastic recycling market growth across the region. North America is expected to grow at the fastest pace due to the high utility of PET. Furthermore, in Texas, 25% of recycled and recovered polymers could support 40 advanced recycling and recovery facilities, generating over USD 500 million in economic output each year. The growing utility of recyclable packages can prompt the global plastic recycling market expansion. All value figures noted are in constant 2020 U.S. dollars. This is due to the increasing number of small industries in the market and their significant operation. This will position the U.S as a global leader in advanced plastics recycling technologies and manufacture new plastics that are recyclable by design. Feedstock recycling products are more akin to the raw materials used to produce plastics (e.g., petroleum, natural gas). At what CAGR can the plastic recycling market expand? Thank you for your interest in BCC Research. recycling Tell us more. All rights reserved. Bottles acquire a large share in the plastic market, are most recycled products, and used in various industries for making containers for medicines, carbonated drinks, shampoos, and others. The polyethylene segment accounted for largest revenue share in 2021. In addition, rising investments in Research & Development (R&D) activities is also driving growth of the market. Currently, the Asia-pacific region is dominating the plastic recycling industry since 2018. The U.S. is recycling less than one tenth of its plastic waste and Europe about one third, but now all these countries will have more plastic that they can no longer export, hence plastic situation is getting worse. For instance, a recent report states that there are over 8 million tons of plastic waste in the water bodies that potentially affect the marine ecosystem. What is the regional analysis of the plastic recycling market? To overcome this problem, Saperatec is attempting to use this technology for recycling materials, such as LCD panels, lithium-ion batteries,and plastic composites, among others. The global market for plastics recycling should grow from $25.3 billion in 2018 to $33.8 billion by 2023 at a compound annual growth rate (CAGR) of 5.9% for the period of 2018-2023. These shelters are low-cost, easy to construct, take less space, and will be in high demand in the future. There is a huge untapped potential in recycling polypropylene, which is widely used plastic across the globe. The depletion of natural resources due to the intensive usage and dumping of plastics in the ocean are creating huge stress in the overall environment. The polyethylene segment revenue is projected to increase at a rapid growth rate during the forecast period, The bottle segment revenue is expected to register a rapid growth rate during the forecast period, The building and construction segment revenue is expected to increase at a steady rate during the forecast period, The North America market is expected to account for a robust revenue CAGR during the forecast period, Major Companies and Competitive Landscape, Product Type Outlook (Revenue, USD Billion; 20192030), Source Outlook (Revenue, USD Billion; 20192030), End-Use Outlook (Revenue, USD Billion; 20192030), Regional Outlook (Revenue, USD Billion; 20192030), Start typing & press "Enter" or "ESC" to close, Published Date: Jun 2022 | Get a 20% discount on the total cart amount - valid till Dec 31st, 2021. Also, the unavailability of financial support for government initiatives worsens the condition.

plasticsinfomart 2025 competitor molding Major manufacturers and startup companies are investing in recycling technologies and taking various initiatives to introduce new processes and eco-friendly and recycled plastics products into the market. Market volumes by source of waste (e.g., bottles, films) are measured at the level of the amount of plastic available for recycling. Market values are measured at the level of plastic recycled, such as the values of recycled resin pellets. Ice, Electric, Hybrid, Autonomous Vehicles, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends, North America, Europe, Asia-Pacific, and Rest of the World (RoW), Asia Plastic Recycling Holding Limited, B & B Plastics Recycling Inc, B. Schoenberg & Co., CarbonLITE Industries LLC, Clear Path Recycling, Consolidated Container Company, GreenLine Polymers, Imerys SA, Indorama Ventures Public Company Limited, Jayplas, Joes Plastics Inc., Kuusakoski Group Oy, KW Plastics, , Montello S.p. recycling statistics plastic africa south rate plastics packaging consumption sprig material For example, Altais Nova, based in Spain, is developing a magnetic additive, which makes identification and separation of packaging at recycling stage easier. Market revenue growth is also driven by increasing technological advancements in sustainable technologies and development of innovative methods of plastic recycling and segregation. Especially, the food and beverage industry and pharmaceutical industry, due to the increasing demand across the globe has increased their production activities and has been found to generate a huge amount of plastic wastage in recent years. The manufacturing plant is anticipated to produce kiloton of food-grade pellets annually.In December 2017, the Asian market was at boom as one of the management and post-consumer plastic production plants in India has utilized electronic and automotive plastic waste to produce post-consumer plastic.In June 2017, Kuusakoski Group and Roskn Roll Oy and It-Uudenmaan Jtehuolto Oy collaborated and opened a joint venture Revanssi Oyto manage comprehensive waste in southern Finland.In June 2017, Kuusakoski Group formed a joint venture with Roskn Roll Oy and It-Uudenmaan Jtehuolto Oy, with a 51% share in the company called Revanssi Oy to offer comprehensive waste management services in southern Finland. On the other hand, European countries are also exhibiting a higher growth rate in the plastic recycling industry, owing to the restrictions and strict norms regarding the wastage of plastics. Market volume is segmented by resin types of waste (e.g., PET, PE) and measured at the level of the amount of plastic available for recycling. recycling market plastic worldwide value billion 2024 usd This manufacturing plant is primarily expanded to manufacture recycled PET, especially r-PET pellets that are derived from PET flake. Researchers fromUniversity of Bath are working with Protomax, a plastic engineering technology company, to design shelters made with recyclable plastics called Storm Board. Some major companies included in the global market report are: On 27 January 2022, Honeywell International Inc. headquartered in Charlotte, announced its intention to form a joint venture with Avangard Innovative to build an advanced recycling plant in Texas. The global market of biodegradable polymers should grow from $3.7 billion in 2022 to $9.5 billion in 2027, at a compound annual growth rate (CAGR) of 20.6% during the forecast period of 2022 through 2027. For instance, MacRebur Ltd. is a plastic road manufacturing company, which is using single-use plastic for this purpose and is significantly contributing to reducing carbon footprint in environment. It describes the impact of the COVID-19 pandemic, and it features a value chain analysis as well as a Porters analysis.

Below we have mentioned a few technical terms which we will be used multiple times in the report. Based on product type, the global plastics recycling market is segmented into polyethylene terephthalate, polyethylene, polystyrene, polyvinyl chloride, polypropylene, and others. plastic consumer recycling polyestertime sustainability help rates growth strong continue postconsumer chemistry council association american hdpe markets end use Need a custom data table, graph or complete report? According to United Nations report published in October 2021, pollution from plastics will be doubled by end of 2030, which is creating serious threat to all ecosystems across the globe. waste aarkstore Such reports have propelled the European government to increase recycling activities and create more awareness among the industrial verticals. The global market for recycled plastics is expected to grow from $28.7 billion in 2022 to $37.3 billion by 2027 with a compound annual growth rate (CAGR) of 5.3% for the period of 2022-2027. Transportation and reaching out to the processing plants have become difficult for the key market players and have imposed a significant decline for the overall growth of the plastic recycling industry. According to a report published by the University of Houston, the region could support up to 100 advanced recycling facilities by 2030, each capable of processing 25,000 tonnes per year, reducing Greenhouse Gas Emissions (GHG) by 10 million metric tonnes of CO2 per year. Plastic recovery and recycling technologies have enormous economic value. For example, installation of a robotic arm coupled with Artificial Intelligence (AI) sorting technology in waste management facilities can identify and sort different types of materials to their corresponding bins irrespective of their condition including irregularity, dirty, and damage.

Complete the form below and we'll send you a private, secure link to download the Report Sample as a PDF. All figures are reported to the nearest million dollars or million lbs. Global Plastic Bottle Recycling Market Research Report Forecast To 2030, Recyclable Packaging Market Research Report Global Forecast 2030, Electronic Waste Recycling Market Research ReportGlobal Forecast Till 2030, Plastic Waste Management Market Research Report Forecast To 2030, Plastic Recycling Market Can Attain An Outstanding Value Of Usd 36,336.9 Mn By 2028, 2022 Market Research Future(Part of WantStats Research And Media Pvt. The existing combined addressable market opportunities for plastics and petrochemicals in the U.S. and Canada, which could be met in part by recovering waste plastics, totals USD 120 billion per year. The growing population and industrialization across the globe combined with the exponential rise in the economic condition and the increasing industrial activities are generating enormous amounts of plastic waste and are contributing to the growth of the plastic recycling market growth. The recycled PET products are considered to be more suitable for the applications such as packaging, textiles, films, and molded parts that are used in the automotive industry and electronics industry. However, launch of recent policies regarding zero Green House Gases (GHGs) emissions by governments and regulatory bodies of various countries is restraining advancement of a sustainable plastics economy. recycling market Some reports generated in the European countries states that over 4.4 million tons of plastic waste are generated across the European countries, which are becoming landfills over the year. The term chemical recycling will be used to describe the return to chemical units originally used to make resins. Nylon can be depolymerized to caprolactam. | Format: Electronic (PDF) | Publish Type: Publish | Number of Pages: 250, 14671 110 Avenue, Surrey, British Columbia,V3R2A9, Revenue in USD Billion and CAGR in % from 2022 to 2030. A., MTM Plastics GmbH, Plasgran Ltd., Plastipak Holdings, Inc., Recycled Plastics UK, RJM International Inc., Seraphim Plastics, Shakti Plastics Industries, Suez, Teijin Limited, Ultra Poly Corporation , UltrePET, LLC, Veolia, Custom Polymers, Inc., Envision Plastics , Plastic Recycling Inc., KW Plastics, Inc., UltrePET, LLC , Seraphim Plastics , MBA Polymers Inc. , Green-O-Tech India, Increased the demands for the manufacturers, Change in reprocessing and recycling techniques. These acquisitions of the leading market players and novel innovations in technology are driving the plastic recycling market growth. The plastic recycling market is rapidly gaining momentum due to the increasing awareness among the general public regarding environmental safety. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at. For example, on 02 November 2021, Honeywell launched UpCycle Process Technology, which expands different types of recyclable plastics and produces feedstock with a lower carbon footprint. For the purposes of this report, the term recycling refers to the removal of products from the waste stream for use (not including incineration or energy recovery).

icis plastic resins feedstock than fare rout amid major asia better oil Post-industrial plastics are not included. Negative impact of plastics disposal on environment, growing awareness regarding energy savings and government responses, and increasing use in packaging, automotive, and electrical & electronics industries are key factors rising demand for plastics recycling solutions, which in turn, is driving market revenue growth. Additionally, polyethylene, both recycled and non-recycled, is incredibly durable and can be used for numerous purposes with great efficiency. Who are the key players of the plastic recycling market? Plaxx can be used for making heavy oil products or can be recycled into other plastic materials. 2022 Marketysers Global Consulting LLP. It is difficult to remove contaminants, color, and odor from these plastics and recycling method is complicated and expensive. Emergen Research has segmented the global plastics recycling market based on product type, source, end-use, and region: The global plastics recycling market revenue is expected to register a CAGR of 6.57% during the forecast period. Most recycled polyethylene terephthalate (PET) comes from PET bottles, and the main end market for recycled PET bottle resin is fibers. Recycled polyethylene is advantageous to both environment and manufacturing facilities. The building & construction segment is expected to grow at a steady rate during the forecast period. Such factors are the primary challenge for the overall growth of the plastic recycling industry. In the building & construction industry, mixture of melted plastics and certain additives can be used to make roadways. This report will be concerned with activities in four regions: North America, Europe, Asia, and the Rest of the World (Rest of the World). BCC Research Plastic market research review provides market professional with concise market coverage within plastic category targeted to Europe, Asia, and North America. Furthermore, 170 billion pounds of polypropylene plastic is produced every year and reclaimed for recycling and reuse.

Emergen Research is a brand of Marketysers Global Consulting LLP.

The Global Market section also profiles products made with recycled plastics, including applications such as plastic lumber and plastic composites (e.g., wood, fibers, cement, glass). The Sources section describes existing markets by product source. The term recovery includes all disposal methods except land disposalfor example, recycling, incineration, waste-to-energy (WTE). In the year 2021, one of the leading market players, BP Plc which is based in the UK had decided to join hands with another leading market player, SABIC which is based in Saudi Arabia to promote plastic recycling techniques. The Introductory section summarizes the studys goals and objectives, the reasons for doing the study and scopes. The estimated growth rate is primarily driven by the excessive generation of plastic waste across the globe.

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plastic recycling market size