Global Plastic Waste Recycling Market
Growth Opportunities in the global plastic waste recycling market look promising over the next six years. The strong demand for decomposable plastic material, the growing number of plastic recycling programs, and various plastic collection schemes running across various nations are key factors driving the growth of the global plastic waste recycling market.
Introduction of the Plastic Waste Recycling Market:
GMI Research expects the global plastic waste recycling market to be valued at USD XX billion in 2018, and it is projected to reach USD XX billion by 2026, while increasing at a CAGR of 10.5%.
Plastics are made up of a network of molecular monomers bounded together for the formation of macromolecules. It ranges from containers (lids, soft drinks bottles, food packing, shampoo bottles) to durable goods (appliances, furniture, and other materials). It is a process of recovering multiple kinds of plastic materials from reprocessing them into different other products. It also encourages proper use of plastic waste while conserving the environment. With the increased use and consumption of plastic, there is a main concern about recycling, reuse, and disposal methods of plastic.
Plastic Waste Recycling Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The strong demand for decomposable plastic material, the growing number of plastic recycling programs, and various plastic collection schemes running across various nations, are some of the factors surging the growth of the global plastic waste recycling market. Moreover, the implementation of plastic waste directive policies and norms by the governments is promoting to reuse and systemically recycle non-biodegradable constituents, thus fuelling the demand of the global plastic waste recycling market in the upcoming years. With the increasing awareness related to the reduction of greenhouse gas emission and to maintain environmental sustainability, the plastic manufacturers are widely emphasizing on introducing new recycling concepts. Rapid technological innovation has also resulted in faster energy conversion, thereby improving the production of valuable low pollutants such as petrochemical feedstocks or monomers. These innovations will further propel the demand for the global plastic waste recycling market share in terms of revenue.
Based on the region, Asia-Pacific is projected to grow at a higher CAGR during the forecast period owing to the growing consumption of plastics in largely populated economies such as China and India, high import of plastics, and disposal laws concerning the disposal of waste. Additionally, the Rest of the world is anticipated to grow at the second-highest CAGR during the forecast period owing to the growing recycling process of various plastic materials, along with cheap labor.
Key Players of the Global Plastic Waste Recycling Market:
- Seraphim Plastics
- KW Plastics Inc.
- Custom Polymers Inc.
- Miller Waste Mills
- Kuusakoski Group Oy
- UltrePET LLC
- Recyclex S.A.
- Envision Plastics
- CarbonLITE Industries
- Boer Group
Plastic Waste Recycling Market Segmentation:
Segmentation by Material Type:
- Polypropylene (PP)
- Low-Density Polyethylene (LDPE)
- High-Density Polyethylene (HDPE)
- Polyvinyl Chloride (PVC)
- Polyurethane (PUR)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Others
Segmentation by End-Use Application:
- Packaging
- Building & Construction
- Textile & Clothing
- Automotive
- Furniture
- Recycled Plastics in Other End-Use Applications
Segmentation by Method Revenue:
- Mechanical
- Chemical
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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