Recycled Plastic Market Global Industry Trends, Sales Revenue, Industry Growth, Development Status, Top Leaders, Future Plans and Opportunity Assessment 2026
The
global ''recycled
plastic market'' size is expected to witness significant growth backed by
increasing demand from the packaging industry. Fortune Business Insights,
in its latest report, titled “Recycled
Plastic Market Size, Share & Industry Analysis, By Type (Polyethylene
Terephthalate, High-density Polyethylene, Polypropylene, Low-density
Polyethylene, and Others), By Application (Non-Food Packaging, Food Packaging,
Construction, Automotive, and Others), and Regional Forecast, 2019-2026.”, predicts that
the market is likely to hit USD
72.6 billion by 2026, while exhibiting a CAGR of 8.55% between
2019 and 2026. The reports further observe that the market was worth USD 37.8 billion in 2018.
List of the Key Companies Operating in the Recycled Plastic Market
are:
- KW Plastics
- Veolia
- Custom Polymers
- Plastipak
Holdings
- The Coca-Cola
Company Incorporated
- Suez
- B. Schoenberg
& Co.
- Fresh Pak
Corporation
- B&B Plastics
- Green Line
Polymers
- Ultra Poly
Corporation
- Clear Path
Recycling
- Jayplas
- MBA Polymers
- RJM International
Inc.
- CarbonLite
Industries LLC
- Envision Plastics
Industries LLC
- ReVital Polymers
- Other Players
According
to the data by the non-profit organization, Plastic Oceans International, every
year around 500 billion plastic bags are used globally. This means that over 1
million bags are being used every minute. Plastic is harmful to the environment
in many ways and since most of the plastic material is non-biodegradable, it is
important to find a solution to reduce the rampant production of plastic across
the globe. Therefore, recycling of the plastic to enable its reuse is vital to
prevent environment degradation. Plastic is used across several industries such
as packaging, food & beverage, pharmaceuticals, consumer goods,
construction, and automotive, among others. A holistic approach to adopt
recycled plastic from the end user industries will ensure the safety of the
environment.
What does the Market Report Offer?
The
market report offers an exhaustive study of several factors such as drivers,
restraints, challenges, and opportunities that will affect the growth of the
market in the forthcoming years. The report covers regional demographics that
include qualitative and quantitative information about the regions that are
further divided into nations that are contributing to the growth of the market
between 2019 and 2026. Furthermore, the competitive landscape has been
discussed in-depth that include information of several players operating in the
market. Moreover, information on the adoption of strategies such as merger and
acquisition, collaboration, partnerships, and joint ventures by the companies
that will drive the growth of the market has been included during the projected
horizon.
Drivers and Restraints:
Increasing Demand from Packaging Industry to Favor Growth
The
data from the Plastic Ocean International informs that packaging industry
accounts for over 40% of the overall plastic usage globally and is the largest
end user segment. The consumption of plastic is increasing backed by high
demand for food-safety packaging material. The companies are focusing on
adopting recycled plastic that has low energy input and has reduced negative
impact on the environment. For instance, recycled polyethylene terephthalate is
extensively adopted to manufacture bottles for beverage packaging. Furthermore,
increasing demand for packaging sports equipment, toys, and fashion accessories
is likely to boost the global recycled plastic market in the forthcoming years.
COVID-19 Impact Analysis:
The
emergence of COVID-19 has brought the world to a standstill. We understand that
this health crisis has brought an unprecedented impact on businesses across
industries. However, this too shall pass. Rising support from governments and
several companies can help in the fight against this highly contagious disease.
There are some industries that are struggling and some are thriving. Overall,
almost every sector is anticipated to be impacted by the pandemic.
We
are taking continuous efforts to help your business sustain and grow during
COVID-19 pandemics. Based on our experience and expertise, we will offer you an
impact analysis of coronavirus outbreak across industries to help you prepare
for the future.
Segmentation:
By Type
- Polyethylene
Terephthalate (PET)
- High-Density
Polyethylene (HDPE)
- Polypropylene
(PP)
- Low-Density
Polyethylene (LDPE)
- Others
By Application
- Non-Food Packaging
- Food Packaging
- Construction
- Automotive
- Others
By Geography
- North America
(U.S. and Canada)
- Europe (Germany,
UK, France, Italy, Spain, Poland, and Rest of Europe)
- Asia Pacific
(China, India, Japan, South Korea, Southeast Asia, and Rest of Asia
Pacific)
- Latin America
(Brazil, Mexico, and Rest of Latin America)
- Middle East &
Africa (Saudi Arabia, Turkey, Egypt, and Rest Of Middle East & Africa)
Recycled Plastic Market Focus on:
- Extensive product
offerings
- Customer research
services
- Robust research
methodology
- Comprehensive
reports
- Latest
technological developments
- Value chain
analysis
- Potential Market
opportunities
- Growth dynamics
- Quality assurance
- Post-sales
support
- Regular report
updates
Reasons to Purchase this Report:
- Comprehensive
analysis of the market growth drivers, obstacles, opportunities, and other
related challenges.
- Tracks the
developments, such as new product launches, agreements, mergers and
acquisitions, geographical expansions, and joint ventures.
- Identifies market
restraints and boosters.
- Identifies all
the possible segments present in the market to aid organizations in
strategic business planning.
Key Questions Answered:
- Why Choose
Fortune Business Insights?
- What are the key
demands and trends shaping the market?
- What are the key
opportunities in the market?
- What are the key
companies operating in the market?
- Which company
accounted for the highest market share?
- What is the
market size and growth rate of the global and regional market by various
segments?
- What is the
market size and growth rate of the market for selective countries?
- Which region or
sub-segment is expected to drive the market in the forecast period?
- What Factors are
estimated to drive and restrain the market growth?
Regional Analysis:
Presence of Established Manufacturers in Asia-Pacific to Aid
Growth
Among
the regions, the market in Asia-Pacific is likely to witness exponential growth
by generating the highest global recycled plastic market revenue during the
forecast period. This is ascribable to factors such as presence of established
players in the region that is driving the demand for recycled plastic.
Furthermore, high consumption of plastic in countries such as India and China
in Asia-Pacific will aid the market growth. Europe, on the other hand, is
expected to witness growth backed by increasing demand for the product from the
construction and automotive industry. Furthermore, stringent regulations by the
government to limit single-use of plastic will favor market growth in the region
between 2019 and 2026.
Competitive Landscape:
Collaboration Strategies by the Companies to Stoke Demand
In
March 2019, the Coca Cola Company announced its collaboration with Diageo,
Nestle, and Unilever to form an alliance known as the African Plastics
Recycling Alliance. The companies came together with an aim to transform
plastic recycling infrastructures present in the sub-Saharan African region,
while trying to gain foothold in the emerging global marketplace. Adoption of
strategies such as collaboration activities, partnership, and expansion of
product offering by the companies will bode well for the growth of the market
during the forecast period.
Browse Detailed Research Insights with Table of Content:
https://www.fortunebusinessinsights.com/recycled-plastic-market-102568
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