The global recycled plastics market size will grow by USD 12.02 billion during 2019-2023. This market report provides a detailed analysis of the market by type (PET, HDPE, LDPE, PP, and others), end-users (packaging, construction, automotive, electricals and electronics, and others), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many plastic recycling companies, including B. Schoenberg & Co. Inc., Envision Plastics, Imerys SA, Kuusakoski Group Oy, KW Plastics, MBA Polymers Inc., PLASgran Ltd., SUEZ SA, UltrePET LLC, and Veolia Environnement.
Key Insights on Recycled Plastics Market - Global Forecast 2019-2023
Browse TOC and LoE with selected illustrations and example pages of Recycled Plastics Market
Industry Overview
The packaging industry is one of the leading consumers of plastic and accounted for nearly half of the plastic wastes market in 2015. This induced many packaging companies to shift their focus toward recycled plastics, thereby reducing their carbon footprint. Also, the growing consciousness about environment protection among consumers has prompted the packaging industry to adopt green and sustainable packaging solutions. In the US, companies are using recycled plastics in a wide range of applications such as the manufacturing of FDA approved food packaging plastic containers, bottles, closures, jars, engineered pumps, sprayers, and caps. Unilever Group has recently announced that all of its plastic packagings will be fully reusable, recyclable, and compostable by 2025. With the increasing adoption of reusable plastics in various applications, the recycled plastics market size will grow significantly during the forecast period.
Moreover, major recycled plastics market trends such as the rising demand for synthetic textiles will also influence market growth. Nylon and polyester fibers derived from recycled plastics are extensively used in the manufacture of apparel such as shirts, pants, jackets, hats, and home furnishings such as bed sheets, blankets, and other upholstered furniture fabrics. Polyester fibers have a high demand in the textile industry because of their cost-effectiveness, recyclability, superior strength, and flexibility. Despite the high price, nylon is increasingly being used in many applications including conveyor belts, ropes, carpets, parachutes, racquet strings, sleeping bags, and seat belts. The increasing use of nylon is expected to fuel the growth of the nylon filament market over the forecast period. This will have a positive impact on the global recycled plastics market size. As a result of these factors, the market will register a CAGR of close to 6% during 2019-2023.
Top Companies in Recycled Plastics Market
The global market is fragmented. To help clients improve their market positions, this recycled plastics industry report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This recycled plastics market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
The report offers a detailed analysis of several leading plastic recycling companies, including:
- B. Schoenberg & Co., Inc.
- Envision Plastics
- Imerys SA
- Kuusakoski Group Oy
- KW Plastics
- MBA Polymers Inc.
- PLASgran Ltd.
- SUEZ SA
- UltrePET LLC
- Veolia Environnement
Market Segmentation
Recycled Plastics Market by Type
- PET
- HDPE
- LDPE
- PP
- Others
The PET segment held the largest market share in 2018. It will account for the highest recycled plastics market share over the forecast period. Recycled PET plastics are used in manufacturing bottles, perishable food containers, mouthwash containers, and furniture because of their high strength, thermostability, and transparency. They are also used in various other applications such as fabrics for t-shirts, athletic shoes, luggage, upholstery, automotive parts, etc. This report provides an accurate prediction of the contribution of all the segments to the growth of the recycled plastics market size.
Recycled Plastics Market by Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that APAC will account for the highest share of the recycled plastics market throughout the forecast period. Countries such as China, India, and Vietnam are witnessing significant demand for electrical and electronic products. Recycled plastics are increasingly being used in manufacturing terminal blocks, switches, electrical wires, light fittings, and handles. Also, the growing demand for synthetic textiles in the fashion industry and household applications in China is contributing to the recycled plastics market growth in APAC.
Major Highlights of the Recycled Plastics Market - Global Forecast 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the recycled plastics market during the next five years
- Precise estimation of the global recycled plastics market size and its contribution to the parent market
- Accurate recycled plastics market forecast on upcoming trends and changes in consumer behavior
- The growth of the recycled plastics industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of plastic recycling companies
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