Persistence Market Research in its upcoming report titled ‘Recycled Plastic Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025’, projects the recycled plastic market to be worth just over US$ 30 billion by 2025.
Plastic Recycling Market introduces the building blocks of the report with the influence of market dynamics and functioning and a need to understand customer behavior. The increase and decrease in the product/service budget also play an important role in predicting the future growth of Plastic Recycling Market. Besides, the high deployment cost of product/service, and other restraints are also pointed out in the report. Plastic Recycling Market report also studies the value, volume trends and pricing history of the market so that the pattern and layout are also evaluated for the advanced study of the market over the forecast period.
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Recycling of plastic is broadly defined as collecting waste plastic scraps that are recyclable, processing it with various technologies, and finally treating it with chemicals and additives to produce a newer plastic. The improved quality of recycled plastic products over their virgin counterparts, the push from different companies, and strict governmental regulations are the main drivers of the recycled plastic market.
Resin Type – PET and HDPE Segment Critical in Plastic Recycling Market
The polyethylene terephthalate and high density polyethylene resin types had a market share approaching 2/3rd of the recycled plastic market and should gain 180 and 40 BPS respectively, largely at the expense of other resin types. Polyethylene terephthalate is popular primarily on account of its low price and versatility. Similarly, a large portion of the plastic scrap generated including margarine tubes, grocery bags, and detergent bottles contain HDPE resins.
Competition Dashboard in the Plastic Recycling Market
Prominent companies actively involved in the recycled plastic market have been profiled in the report. The companies are B.SCHOENBERG & CO., REPLAS, Advanced Environmental Recycling Technologies, Clear Path Recycling, Wellman Advanced Materials, Reprocessed Plastic, PLASgran Ltd., Custom Polymers, CarbonLITE Industries, Luxus Ltd, Butler-MacDonald, KW Plastic, wTe Corporation, Envision Plastic Industries LLC, Kuusakoski, and Shanghai PRET.
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Application – Packaging Industry Demands Great Deal of Recycled Plastic
The packaging industry is anticipated to hold the maximum share in the recycled plastic market by application type in terms of both value and volume. There is heavy demand for recycled plastic in the packaging industry because most waste scrap is generated by the packaging sector and then recycled to manufacture PET containers, bottles, carpet fibers, and clothes. The packaging industry is predicted to record a CAGR of 4.8% throughout the forecast period. Companies such as Nestle and Coca Cola have begun to use recycled plastic bottles for packing beverages and they have pledged to use more recycled plastic content in their beverage bottles instead of virgin plastic.
Source Type – Plastic Bottles to Exhibit High Growth in Plastic Recycling Market
Plastic bottles are on track to witness a CAGR of 4.8% from 2017 to 2025 and should exceed 17,000 KT by the end of the eight-year study, making it imperative for key stakeholders in the recycled plastic market to target.
Region – Focus on APEJ in Recycled Plastic Market
APEJ is estimated to fuel the volume gains in the recycled plastic market over the forecast period with a total incremental opportunity of just under US$ 3.3 billion being attributed to this populous continent. The consumption of recycled plastic products is concentrated in APEJ particularly in the construction and packaging sectors. In China, the raw material availability is very less leading to increased consumption of recycled plastic.
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Plastic Recycling Market – Report Highlights
- A detailed overview of parent market of Plastic Recycling Market
- Changing Plastic Recycling Market dynamics in the industry
- In-depth segmentation of Plastic Recycling Market
- Historical, current, and projected Plastic Recycling Market size regarding volume and value
- Recent industry trends and developments in Plastic Recycling Market
- Competitive landscape of Plastic Recycling Market
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Plastic Recycling Market performance
- Must-have information for Plastic Recycling Market players to sustain and enhance their market footprint
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