This is due to the increasing number of small industries in the market and their significant operation. North America is expected to grow at the fastest pace due to the high utility of PET. Feedstock recycling products are more akin to the raw materials used to produce plastics (e.g., petroleum, natural gas). The estimated growth rate is primarily driven by the excessive generation of plastic waste 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. Below we have mentioned a few technical terms which we will be used multiple times in the report. Any secondary use or reuse of the material is assumed to have already taken place. Manufacturers in this region are shifting their preferences toward recycled plastic as it is cheaper than virgin plastic and is also eco-friendly. Reports are discounted or included with certain, All reports provided in PDF format. 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 recovery includes all disposal methods except land disposalfor example, recycling, incineration, waste-to-energy (WTE). recycling market equipment 2025 billion machinery usd cross magazine What is the regional analysis of the plastic recycling market? Based on end-use, the global plastics recycling market is segmented into building & construction, automotive, packaging, textile, electrical & electronics, and others. 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. This manufacturing plant is primarily expanded to manufacture recycled PET, especially r-PET pellets that are derived from PET flake. 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 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. Polyethylene is the most commonly used material used for making plastic products and easiest plastic to recycle. The global plastics recycling market is consolidated with a few large and medium-sized companies accounting for majority market revenue. 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. 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 Company Profiles section lists relevant organizations and companies. KW Plastics and KW Plastics Recycling Division.

For example, Altais Nova, based in Spain, is developing a magnetic additive, which makes identification and separation of packaging at recycling stage easier.

Currently, the Asia-pacific region is dominating the plastic recycling industry since 2018. Recycled polyethylene is advantageous to both environment and manufacturing facilities. This challenge supports development of more sustainable approaches to plastic packaging, novel polymer materials, and new recycling technologies. The polypropylene segment is expected to register a steady growth rate during the forecast period. 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. Avangard Innovative will be the first company in the U.S. to use UpCycle Process Technology. 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. 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). BCC Research Plastic market research review provides market professional with concise market coverage within plastic category targeted to Europe, Asia, and North America.

With the changes in the market trends, the growth of the plastic recycling industry is spurring up with a CAGR of 5.82% during the forecast period. The packaging segment in several end-user industries is generating a huge amount of plastic wastage compared to other segments. This factor is considered as the major restraint of the overall growth of the plastic recycling industry.

Who are the key players of the plastic recycling market? 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. Presently, this technology is under development, but if successful it can be used to power heavy tanker vehicles. Market volumes by source of waste (e.g., bottles, films) are measured at the level of the amount of plastic available for recycling. 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. | Region: Global | 188 Pages, 4.2.1 Increasing Use of Plastic in the Packaging Industry 24, 4.2.2 Government Support for Recycling Plastic 26, 4.2.3 Impact of Plastic Disposal on the Environment 27, 4.3.1 Lack of Awareness Regarding Recycling 27, 4.4.1 Ban on Import of Plastic Waste by Emerging Economies 27, 4.4.2 Use of Recycled Plastic in Various Industries 27, 5.1.2 Conversion of Plastic Bags into Useful Products 29, 5.1.4 Polystyrene-to-Styrene Monomer (PSM) Technology 29, 5.4 Impact Analysis of Recycle Plastic on Virgin Plastic 32, 6 Global Plastic Recycling Market, By Application, 7 Global Plastic Recycling Market, By Material, 7.1.1 Polyethylene Terephthalate (PET) 39, 7.1.2 High-Density Polyethylene (HDPE) 39, 8 Global Plastic Recycling Market, By Recycling Process, 9 Global Plastic Recycling Market, By Region, 9.2.4.1 Rest of Asia-Pacific by Application 56, 9.2.4.2 Rest of Asia-Pacific by Material 56, 9.2.4.3 Rest of Asia-Pacific by Recycling Process 57, 9.3.3.1 Rest of Americas by Application 65, 9.3.3.3 Rest of Americas by Recycling Process 66, 9.4.5.3 Rest of Europe by Recycling Process 78, 12.1.1.1 Regulations regarding PET/Recycled PET Use in India 107, 12.2.1 Waste, parings and scrap, of plastics: Export & Import Analysis 112, 12.2.2 Waste, parings and scrap, of polymers of ethylene: Export & Import Analysis 114, 12.2.3 Waste, parings and scrap, of polymers of styrene: Export & Import Analysis 116, 12.2.4 Waste, parings and scrap, of polymers of vinyl chloride: Export & Import Analysis 118, 12.2.5 Waste, parings and scrap of plastics (excluding that of polymers of ethylene, styrene and others): Export & Import Analysis 120, TABLE 3 GLOBAL PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 34, TABLE 4 GLOBAL PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 38, TABLE 5 GLOBAL PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 42, TABLE 6 GLOBAL PLASTIC RECYCLING MARKET, BY REGION, 2017-2028 (USD MILLION) 46, TABLE 7 ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY COUNTRY, 2017-2028 (USD MILLION) 48, TABLE 8 ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 49, TABLE 9 ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 50, TABLE 10 ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 51, TABLE 11 CHINA: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 51, TABLE 12 CHINA: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 52, TABLE 13 CHINA: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 52, TABLE 14 INDIA: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 53, TABLE 15 INDIA: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 53, TABLE 16 INDIA: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 54, TABLE 17 JAPAN: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 54, TABLE 18 JAPAN: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 55, TABLE 19 JAPAN: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 55, TABLE 20 REST OF ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 56, TABLE 21 REST OF ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 56, TABLE 22 REST OF ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 57, TABLE 23 AMERICAS: PLASTIC RECYCLING MARKET, BY COUNTRY, 2017-2028 (USD MILLION) 59, TABLE 24 AMERICAS: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 60, TABLE 25 AMERICAS: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 61, TABLE 26 AMERICAS: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 61, TABLE 27 US: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 62, TABLE 28 US: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 63, TABLE 29 US: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 63, TABLE 30 CANADA: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 64, TABLE 31 CANADA: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 64, TABLE 32 CANADA: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 65, TABLE 33 REST OF AMERICAS: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 65, TABLE 34 REST OF AMERICAS: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 66, TABLE 35 REST OF AMERICAS: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 66, TABLE 36 EUROPE: PLASTIC RECYCLING MARKET, BY COUNTRY, 2017-2028 (USD MILLION) 68, TABLE 37 EUROPE: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 69, TABLE 38 EUROPE: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 70, TABLE 39 EUROPE: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 70, TABLE 40 GERMANY: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 71, TABLE 41 GERMANY: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 72, TABLE 42 GERMANY: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 72, TABLE 43 ITALY: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 73, TABLE 44 ITALY: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 73, TABLE 45 ITALY: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 74, TABLE 46 UK: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 74, TABLE 47 UK: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 75, TABLE 48 UK: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 75, TABLE 49 FRANCE: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 76, TABLE 50 FRANCE: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 76, TABLE 51 FRANCE: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 77, TABLE 52 REST OF EUROPE: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 77, TABLE 53 REST OF EUROPE: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 78, TABLE 54 REST OF EUROPE: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 78, TABLE 55 MIDDLE EAST & AFRICA: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 (USD MILLION) 79, TABLE 56 MIDDLE EAST & AFRICA: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 (USD MILLION) 80, TABLE 57 MIDDLE EAST & AFRICA: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 (USD MILLION) 81, TABLE 58 EXPORT ANALYSIS OF WASTE, PARINGS AND SCRAP, OF PLASTICS (USD THOUSAND) 112, TABLE 59 IMPORT ANALYSIS OF WASTE, PARINGS AND SCRAP, OF PLASTICS (USD THOUSAND) 113, TABLE 60 EXPORT ANALYSIS OF WASTE, PARINGS AND SCRAP, OF POLYMERS OF ETHYLENE (USD THOUSAND) 114, TABLE 61 IMPORT ANALYSIS OF WASTE, PARINGS AND SCRAP, OF POLYMERS OF ETHYLENE (USD THOUSAND) 115, TABLE 62 EXPORT ANALYSIS WASTE, PARINGS AND SCRAP, OF POLYMERS OF STYRENE (USD THOUSAND) 116, TABLE 63 IMPORT ANALYSIS OF WASTE, PARINGS AND SCRAP, OF POLYMERS OF STYRENE (USD THOUSAND) 117, TABLE 64 EXPORT ANALYSIS OF WASTE, PARINGS AND SCRAP, OF POLYMERS OF VINYL CHLORIDE (USD THOUSAND) 118, TABLE 65 IMPORT ANALYSIS OF WASTE, PARINGS AND SCRAP, OF POLYMERS OF VINYL CHLORIDE (USD THOUSAND) 119, TABLE 66 EXPORT ANALYSIS WASTE, PARINGS AND SCRAP OF PLASTICS (EXCLUDING THAT OF POLYMERS OF ETHYLENE, STYRENE AND OTHERS) (USD THOUSAND) 120, TABLE 67 IMPORT ANALYSIS OF WASTE, PARINGS AND SCRAP OF PLASTICS (EXCLUDING THAT OF POLYMERS OF ETHYLENE, STYRENE AND OTHERS) (USD THOUSAND) 121, FIGURE 1 GLOBAL PLASTIC RECYCLING MARKET: MARKET STRUCTURE 17, FIGURE 3 TOP-DOWN & BOTTOM-UP APPROACHES 22, FIGURE 4 GLOBAL PLASTIC RECYCLING MARKET: DRIVERS, RESTRAINT, AND OPPORTUNITIES (DRO) 24, FIGURE 5 GLOBAL PRIMARY PLASTICS PRODUCTION, 2017 (MILLION TONNES) 25, FIGURE 6 PACKAGING WASTE GENERATED, RECOVERED, AND RECYCLED IN EU, 2017-2028 25, FIGURE 7 GLOBAL PLASTIC WASTE BY DISPOSAL, 2017-2028 (%) 26, FIGURE 8 SUPPLY CHAIN: GLOBAL PLASTIC RECYCLING MARKET 30, FIGURE 9 GLOBAL PLASTIC RECYCLING MARKET, BY APPLICATION, 2017 (% SHARE) 34, FIGURE 10 GLOBAL PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 35, FIGURE 11 GLOBAL PLASTIC RECYCLING MARKET, BY MATERIAL, 2017 (% SHARE) 38, FIGURE 12 GLOBAL PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 39, FIGURE 13 GLOBAL PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017 (% SHARE) 42, FIGURE 14 GLOBAL PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 42, FIGURE 15 GLOBAL PLASTIC RECYCLING MARKET SHARE, BY REGION, 2017 (%) 45, FIGURE 16 GLOBAL PLASTIC RECYCLING MARKET, BY REGION, 2017-2028 45, FIGURE 17 ASIA-PACIFIC: PLASTIC RECYCLING MARKET SHARE, BY COUNTRY, 2017 (%) 47, FIGURE 18 ASIA-PACIFIC: PLASTIC RECYCLING MARKET SHARE, BY COUNTRY, 2017-2028 47, FIGURE 19 ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 48, FIGURE 20 ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 49, FIGURE 21 ASIA-PACIFIC: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 50, FIGURE 22 AMERICAS: PLASTIC RECYCLING MARKET SHARE, BY COUNTRY, 2017 (% SHARE) 58, FIGURE 23 AMERICAS: PLASTIC RECYCLING MARKET SHARE, BY COUNTRY, 2017-2028 58, FIGURE 24 AMERICAS: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 59, FIGURE 25 AMERICAS: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 60, FIGURE 26 AMERICAS: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 61, FIGURE 27 EUROPE: PLASTIC RECYCLING MARKET SHARE, BY COUNTRY, 2017 (% SHARE) 67, FIGURE 28 EUROPE: PLASTIC RECYCLING MARKET SHARE, BY COUNTRY, 2017-2028 67, FIGURE 29 EUROPE: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 68, FIGURE 30 EUROPE: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 69, FIGURE 31 EUROPE: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 70, FIGURE 32 MIDDLE EAST & AFRICA: PLASTIC RECYCLING MARKET, BY APPLICATION, 2017-2028 79, FIGURE 33 MIDDLE EAST & AFRICA: PLASTIC RECYCLING MARKET, BY MATERIAL, 2017-2028 80, FIGURE 34 MIDDLE EAST & AFRICA: PLASTIC RECYCLING MARKET, BY RECYCLING PROCESS, 2017-2028 81, FIGURE 35 GLOBAL PLASTIC RECYCLING MARKET: COMPETITIVE BENCHMARKING 83, FIGURE 36 GLOBAL PLASTIC RECYCLING MARKET: MARKET SHARE ANALYSIS 84, FIGURE 37 MBA POLYMERS INC.: SWOT ANALYSIS 92, FIGURE 38 KUUSAKOSKI GROUP OY: SALES REVENUE (USD MILLION), 2017-2028 93, FIGURE 39 KUUSAKOSKI GROUP OY: SEGMENTAL REVENUE SHARE (%), 2017 94, FIGURE 40 KUUSAKOSKI GROUP OY: REGIONAL REVENUE SHARE (%), 2017 94. It accounts for approximately 20% of the worlds plastics and is used to make trays, tubs, and pots for food applications. | October 2020 The plastic recycling market value was atUSD 38.51 billion in 2021 and it is expected to surpass the market value of over USD 67.32 billion by 2030, registering a CAGR of 7.19% during the forecast period (2022 to 2030). This report will be concerned with activities in four regions: North America, Europe, Asia, and the Rest of the World (Rest of the World). 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. | 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. This report is divided into several sections as given below-. 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. In the building & construction industry, mixture of melted plastics and certain additives can be used to make roadways. 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. Get a 20% discount on the total cart amount - valid till Dec 31st, 2021. Further chapters also look at plastics recycling by resin and collecting location. Complete the form below and we'll send you a private, secure link to download the Report Sample as a PDF. High-density polyethylene can be recycled up to 10 times before it loses its structural integrity. 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 | You will be added to our mailing list. 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. The plastic recycling industry was also facing distress throughout the pandemic as the collection of plastics from the key manufacturing locations and other key places had become difficult as there were stringent restrictions for movement. Such reports have propelled the European government to increase recycling activities and create more awareness among the industrial verticals. 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. The building & construction segment is expected to grow at a steady rate during the forecast period. Tell us more. 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. 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. 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. Introduction of Climate Leadership and Environmental Action for our Nations (CLEAN) Future Act in 2021, in the U.S., is intended to achieve net-zero GHGs by 2050. 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. The Overview section describes the manufacture of plastics, the major types of plastics used and how plastics are disposed of after use, and it provides a summary of recycling methods. This will position the U.S as a global leader in advanced plastics recycling technologies and manufacture new plastics that are recyclable by design. 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.

Also, the unavailability of financial support for government initiatives worsens the condition. Plastic Recycling Market is projected to be worth USD 67.32 billion by 2030. 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. 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. With the aid of government regulations and protection guidelines, plastic recycling is expanding across the globe. Competition from virgin plastics products and availability of alternative substitutes and difficulty in collection of raw materials are some key factors hampering growth of the global plastics recycling market. Need a custom data table, graph or complete report? Moreover, initiatives taken by the Indian government, such as Swachh Bharat Abhiyaan and plastic Waste Management Amendment Rules, prohibit use of identified single-use plastic items by the end of 2022 and are also hampering market revenue growth. Revenue forecast, company ranking, competitive landscape, growth factors, and trends, North America; Europe; Asia-Pacific; Latin America; Middle East & Africa, U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of MEA, Indorama Ventures Public Company Limited, Veolia, WM Intellectual Property Holdings, L.L.C., Unilever, Johnson Matthey, SUEZ, Republic Services, Inc., REMONDIS SE & Co. KG, Econic Technologies, The Shakti Plastic Industries, Biffa, Waste Connections, CLEAN HARBORS, INC., KW Plastics and KW Plastics Recycling Division, and B & B Plastics Inc, 10 hrs of free customization and expert consultation. This factor is considered as the major challenge for the plastic recycling market growth. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at. 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. Market values are measured at the level of plastic recycled, such as the values of recycled resin pellets. 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. The market data in the tables of this report covers only post-consumer plastics. The Appendix provides definitions of abbreviations and acronyms. Several countries have a poor collection and sorting systems and therefore the plastic recycling activities were extremely minimal in those countries. 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. It is difficult to remove contaminants, color, and odor from these plastics and recycling method is complicated and expensive.

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. Polypropylene is recycled rarely and used for making plastic products such as bottles, cups, medical devices, automotive parts, and others. Which region is expected to grow at a higher pace during the forecast period? After the global market sections, there will be four chapters that discuss the regional plastics recycling markets: North America, Europe, Asia, and Rest of the World. For instance, Recycling Technologies by breaking down plastic has created an advanced material Plaxx, by using a thermal cracking process. 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. 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. This new technology can reduce need for fossil fuels in production of virgin plastics and will enable recycling cycles. 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. Plastics recycling market revenue growth is primarily driven by factors such as rising demand for eco-friendly and sustainable products and increasing demand from manufacturers owing to its cost-effectiveness. 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. Polyethylene segment was the leading segment in terms of revenue share in 2021. The plastic recycling market is rapidly gaining momentum due to the increasing awareness among the general public regarding environmental safety. The Sources section describes existing markets by product source. Ltd.), +1 628 258 0071(US) +44 2035 002 764(UK), Information And Communications Technology. The reports generated by the governmental and non-governmental organizations reveal the status of the plastic waste available on the planet is propelling the growth of the plastic recycling industry. 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. Most recycled polyethylene terephthalate (PET) comes from PET bottles, and the main end market for recycled PET bottle resin is fibers.

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