New York, According to a new market research report published by Global Insight Services “Plastic Recycling Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Plastic recycling is the process of recovering scrap or waste plastic and reprocessing the material into useful products. Since the vast majority of plastic is non-biodegradable, recycling is a part of global efforts to reduce plastic in the waste stream, especially the approximately 8 million tons of waste plastic that enters the Earth’s ocean every year.
There are several different types of processes used to recycle plastic. The most common method is called thermal depolymerization, which uses high temperatures to break down the plastic into its component parts. These parts can then be used to create new plastic products.
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Key Trends
The key trends in plastic recycling technology are higher throughputs, better quality material, lower energy consumption, and lower costs.
Higher Throughputs: Newer plastic recycling technologies are capable of processing larger amounts of material faster than ever before. This is important because it allows recycling facilities to keep up with the ever-increasing demand for recycled plastic.
Better Quality Material: Newer plastic recycling technologies are also able to produce a higher quality recycled plastic. This is important because it allows recycled plastic to be used in a wider variety of applications.
Key Drivers
The key drivers of the plastic recycling market are the increasing environmental awareness among the people and the stringent government regulations regarding the waste management. The people are now more conscious about the harmful effects of the plastic waste on the environment and are demanding for the better recycling facilities. The government is also taking various measures to reduce the plastic waste and promote the recycling of the plastic.
Market Segments
The plastic recycling market report is bifurcated on the basis of source, type, end-use industry, and region. On the basis of source, it is segmented into films, fibers, foams, and others. Based on type, it is analyzed across polyethylene (PE), polypropylene (PP), polystyrene (PS), and others. By end-use industry, it is divided into packaging, textile, automotive, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Players
The plastics recycling market report includes players such as Veolia, Suez, Jayplas, Alpek, Biffa, Republic Services, Stericycle, KW Plastics, B. Schoenberg & Co., and B&B Plastics.
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Reasons to buy Plastic Recycling Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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