Polyethylene is the most commonly used material used for making plastic products and easiest plastic to recycle. 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. As the recycling process is difficult and involves significant procedures incurs manufacturing costs that affect the selling price of the recycled plastics. Recycled polyethylene has a wide range of applications, such as plastics, bottles, toys, picnic tables, ropes, fencing, trash cans, shampoo bottles, and furniture, among others. 2022 Marketysers Global Consulting LLP. The Summary and Highlights section provides a summary of estimates and forecasts of the global plastics recycling market for 2020-2027, and it highlights the largest and fastest-growing markets and important trends. These acquisitions of the leading market players and novel innovations in technology are driving the plastic recycling market growth. 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. Post-industrial plastics are not included. Based on product type, the global plastics recycling market is segmented into polyethylene terephthalate, polyethylene, polystyrene, polyvinyl chloride, polypropylene, and others. 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. 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. Products are covered separately, and they may be made from plastic from a combination of sources. In the year 2021, one of the leading market players, Plastipak holdings has increased their investment in the new manufacturing plant which is located in Toledo, Spain. Growth rates given are compound annual growth rates (CAGRs) for the period 2022-2027. Mechanical recycling methods include those that involve physical modifications to the recovered plastic only, such as separation, grinding and classifying. WM Intellectual Property Holdings, L.L.C. Company profiles of the industry including JK Plastics Pty. Most recycled polyethylene terephthalate (PET) comes from PET bottles, and the main end market for recycled PET bottle resin is fibers. 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. Mechanical pressing is the method that is intensively utilized in the plastic recycling industry. For example, Altais Nova, based in Spain, is developing a magnetic additive, which makes identification and separation of packaging at recycling stage easier. Such factors have increased the plastic recycling market growth despite the widespread of COVID 19. Especially the inclination towards the ready-to-eat food systems and fast food systems in the developed regions are generating a higher amount of plastic wastage. 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. Tell us more. The recycling of PET plastics accounts for about 70% of the overall plastic recycling operations and thereby leading the other segments in the plastic recycling market growth. This will position the U.S as a global leader in advanced plastics recycling technologies and manufacture new plastics that are recyclable by design. The market data in the tables of this report covers only post-consumer plastics. Further chapters also look at plastics recycling by resin and collecting location. The Market Dynamics chapter lays special emphasis on the drivers, restraints, and opportunities. Additionally, polyethylene, both recycled and non-recycled, is incredibly durable and can be used for numerous purposes with great efficiency. Especially, the lower price point and easy availability of the equipment are presenting opportunities for the plastic recycling industries to deploy the mechanical pressing equipment to foster the overall growth of the plastic recycling industry. 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. The COVID 19 pandemic has created severe economic shock across the manufacturing and industrial units and has made them struggle to combat the economic loss. The plastic recycling market can thrive at 7.19% CAGR by 2030. All rights reserved. Similarly, the awareness among the people has increased significantly, and they are more inclined towards adopting lifestyle change that favors the growth of the plastic recycling industry. There is a huge untapped potential in recycling polypropylene, which is widely used plastic across the globe. Need a custom data table, graph or complete report? Increase requirements for efficient and better recycling technologies and advancements in the sorting segment that would potentially reduce the manual intervention, especially removing the plastic waste from the water sources and other areas are extremely difficult and require manual collection which consumes more time. Market values and volumes have specific measurements, as described below: BCC Publishing Staff comprises expert analysts who are skilled in conducting primary research, secondary research and data analysis and have decades of combined experience covering a wide range of industries, including healthcare, advanced materials and emerging technologies. This factor is considered as the major challenge for the plastic recycling market growth. However, on the other hand, the pandemic and the intensive usage of medical supplies and pharmaceutical products have led to the huge generation of plastics across the globe which has propelled the government and non-governmental organizations to indulge in plastic recycling activities. Several countries have a poor collection and sorting systems and therefore the plastic recycling activities were extremely minimal in those countries. Such factors are the primary challenge for the overall growth of the plastic recycling industry. The term feedstock recycling will be used to denote the process of decomposing plastics to a mix of organic chemicals, some used in the manufacture of plastics and some not. The growing utility of recyclable packages can prompt the global plastic recycling market expansion. The polypropylene segment is expected to register a steady growth rate during the forecast period. Summarizing the sources and end uses for recycled materials that are available. At what CAGR can the plastic recycling market expand? With the aid of government regulations and protection guidelines, plastic recycling is expanding across the globe. They have since then worked together to drive the petrochemical complex activities. This report will be concerned with activities in four regions: North America, Europe, Asia, and the Rest of the World (Rest of the World). Some of the end-users and consumers show a higher preference for virgin plastics over recycled plastics for the better quality and cheaper price. 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. This magnetic additive when applied to a material, creates better air and moisture insulation and sensitive products, such as coffee and medical products, can be easily stored using this. These shelters are low-cost, easy to construct, take less space, and will be in high demand in the future. North America plastic recycling market growth can spur due to high utility of PET. 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.

Market values are measured at the level of plastic recycled, such as the values of recycled resin pellets. High-density polyethylene can be recycled up to 10 times before it loses its structural integrity. Furthermore, 170 billion pounds of polypropylene plastic is produced every year and reclaimed for recycling and reuse. Below we have mentioned a few technical terms which we will be used multiple times in the report. It describes the impact of the COVID-19 pandemic, and it features a value chain analysis as well as a Porters analysis. What is the plastic recycling market growth driver? 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). In addition, with continuously increasing population, rising frequency of natural disasters along with COVID-19 pandemic, and territorial conflicts and wars have created economic recession globally. KW Plastics and KW Plastics Recycling Division. This is due to the increasing number of small industries in the market and their significant operation. 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. Polypropylene is recycled rarely and used for making plastic products such as bottles, cups, medical devices, automotive parts, and others. The global market for plastic recycling should grow from $26.5 billion in 2020 to $34.4 billion by 2025 at a compound annual growth rate (CAGR) of 5.4% for the forecast period of 2020-2025. The Sources section describes existing markets by product source. 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. For example, on 2 March 2022, UK Research and Innovations (UKRI) Smart Sustainable Plastic Packaging (SSPP) Challenge, announced USD 32 million funding for 18 collaborative projects that supports the UK Plastics Pact and have potential to alter the UKs relationship and management of plastic packaging. Presently, this technology is under development, but if successful it can be used to power heavy tanker vehicles. Our experienced industry analysts assess growth opportunities, market sizing, technologies, applications, supply chains and companies with the singular goal of helping you make informed business decisions, free of noise and hype. The global plastics recycling market is consolidated with a few large and medium-sized companies accounting for majority market revenue. The intensive usage of automotive industries and industrialization across the region are impacting the overall growth of the plastic recycling industry across the Asia-pacific region. The bottle segment accounted for largest revenue share in 2021 and is expected to register a rapid growth rate during the forecast period. The demand for recycled plastics especially the type PET and HDPE are increasing among various end-user industries and the increasing industrial verticals that are utilizing recycled plastics for varied consumer goods are expected to propel the plastic recycling market growth during the forecast period. BCC Research Plastic market research review provides market professional with concise market coverage within plastic category targeted to Europe, Asia, and North America. Several industrial verticals were facing distress due to the loss in supply and demand ratio, lack of labor, and many other issues. The estimated growth rate is primarily driven by the excessive generation of plastic waste across the globe. The building & construction segment is expected to grow at a steady rate during the forecast period. It accounts for approximately 20% of the worlds plastics and is used to make trays, tubs, and pots for food applications. Complete the form below and we'll send you a private, secure link to download the Report Sample as a PDF. Biodegradable Polymers: Global Markets and Technologies, Global Electric Vehicle Battery Reuse and Recycling Market, Full Report: Plastics Recycling: Global Markets, Chapter- 3: Overview of Plastics Recycling, Chapter- 5: Global Market Analysis by Type of Resin, Chapter- 6: Global Market Analysis by Collection Location, Chapter- 7: Global Market Analysis by Source, Chapter- 8: Global Market Analysis by Industry, Chapter- 9: Global Market Analysis by Region, An up-to-date review and analysis of the global market revenue for recycled plastics and related technologies, Analyses of the global market trends, with data from 2020 and 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027, Evaluation and forecast the global plastic recycling market size in value and volumetric terms, and corresponding market share analysis by resin type, collecting location, source of waste, end-use, and geographic region, Latest information on major market dynamics (DROs), technology advancements, industry structure, government regulations, and other macroeconomic factors affecting the overall plastics industry, Highlights of emerging technology trends, opportunities and gaps estimating current and future demand for recycled plastics, and impact of COVID-19 on the progress of this market, Identification of companies best positioned to meet the demand for recycled plastics owing to their proprietary technologies, mergers and acquisitions, joint ventures and other strategic alliances, Insight into recent industry structure, current competitive scenario, R&D activities, new product development, and company value share analysis based on their segmental revenues, Profile descriptions of the leading industry players, includingIndorama Ventures, LyondellBasell, Teijin, JK Plastics, ACI Plastics and Phoenix Technologies LP. Increasing awareness across the globe and improving technologies in the plastic recycling industries in recent times combined with the favorable government initiatives to restrict plastic wastage are expected to boost the overall growth of the plastic recycling industry during the forecast period.

For instance, one of the leading market players, Agilyx Corporation has decided to join hands with Exxon Mobile chemical company in the year 2021 and together they have been focusing on recyclability and supplying the wastage to the recycling industries. 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. 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. This challenge supports development of more sustainable approaches to plastic packaging, novel polymer materials, and new recycling technologies. 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. Such reports increase the awareness regarding the environmental impact created by plastic waste and thereby increase the overall growth of the plastic recycling industry. The Introductory section summarizes the studys goals and objectives, the reasons for doing the study and scopes. This factor is considered as the major restraint of the overall growth of the plastic recycling industry. Plaxx can be used for making heavy oil products or can be recycled into other plastic materials. Moreover, the region imports and recycles the waste plastic and converts them for significant applications. This new technology can reduce need for fossil fuels in production of virgin plastics and will enable recycling cycles. 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). 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. This report is divided into several sections as given below-. 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. 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. The global market for recycling of batteries and other types of e-waste should grow from $31.7 billion in 2020 to $61.8 billion by 2024 at a compound annual growth rate (CAGR) of 18.2% for the period of 2020-2024. Germany accounted for largest revenue share for plastic waste recycling in the regional market followed by Italy, Spain, the UK, and France. Ltd.), +1 628 258 0071(US) +44 2035 002 764(UK), Information And Communications Technology. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at. ID: MRFR/PNT/2113-CR Reports are discounted or included with certain, All reports provided in PDF format. Manufacturers in this region are shifting their preferences toward recycled plastic as it is cheaper than virgin plastic and is also eco-friendly.

Collectively, the team represents a diverse set of educational achievements with individual graduate work completed in fields such as microbiology, electrical engineering, business administration and surgery, among others. Researchers fromUniversity of Bath are working with Protomax, a plastic engineering technology company, to design shelters made with recyclable plastics called Storm Board. The term chemical recycling will be used to describe the return to chemical units originally used to make resins. Plastic Recycling Market is projected to be worth USD 67.32 billion by 2030, registering a CAGR of 7.19% during the forecast period (2022 to 2030), the market was valued at USD 38.51 billion in 2021. 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. This section covers topics such as the amount of plastic annually collected and recycled from these sources. 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. North America is expected to grow at the fastest pace due to the high utility of PET. 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. Already a member? For instance, plastic innovation challenge by Department of Energy will accelerate innovations in the plastic industry and reduceplastic waste in oceans and landfills. 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 packaging segment in several end-user industries is generating a huge amount of plastic wastage compared to other segments. Such factors are augmenting the plastic recycling market growth. 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. Feedstock recycling products are more akin to the raw materials used to produce plastics (e.g., petroleum, natural gas). Seraphim Plastics (US), and Kuusakoski Group Oy (Finland), and MBA Polymers Inc. (US) are some reputed names in the plastic recycling market. Plastic Recycling Market is projected to be worth USD 67.32 billion by 2030. Which region is expected to grow at a higher pace during the forecast period? 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.

The term recovery includes all disposal methods except land disposalfor example, recycling, incineration, waste-to-energy (WTE). One recycling technology machine is capable of processing 7,000 tons of plastics every year and can be effective to recycle plastic waste to some extent. For instance, Recycling Technologies by breaking down plastic has created an advanced material Plaxx, by using a thermal cracking process. Advancements in micro-emulsion technology is driving revenue growth of the market.



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