The latest research report by Emergen Research, named ‘Global Plastics Recycling Market - Forecast to 2032 The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
The global plastics recycling market size was USD 64.30 Billion in 2022 and is expected to register a revenue CAGR of 8.9% during the forecast period, according to the latest analysis by Emergen Research. Increasing use of recycled plastic in packaging and automotive industries is a major factor driving market revenue growth. In addition, rising demand for advanced, innovative, and sustainable recycled plastic products, such as 3D printing plastic waste furniture, is driving revenue growth of the market.
Key participants include
Indorama Ventures Public Company Limited, Veolia, WM Intellectual Property Holdings, L.L.C., Unilever, Johnson Matthey, SUEZ, Republic Services, Inc., REMONDIS SE & Co. KG, Econic Technologies, The Shakti Plastic Industries, Biffa, Waste Connections, CLEAN HARBORS, INC., KW Plastics and KW Plastics Recycling Division, and B & B Plastics Inc.
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Drivers:
Several factors drive the growth of the Plastics Recycling market. One primary driver is the growing public awareness of the environmental consequences of plastic pollution and the urgent need to reduce, reuse, and recycle plastic waste. Increasing regulatory pressure and government initiatives aimed at curbing single-use plastics and promoting recycling programs further drive demand for plastics recycling solutions. Additionally, the rising demand for recycled plastic materials by manufacturers seeking sustainable sourcing options and corporate sustainability goals stimulates investment in recycling infrastructure and innovation in recycling technologies.
Research Methodology
Emergen Research follows a cohesive methodology to reduce the residual errors to a minimum level by refining the scope, validating through primary insights, and nurturing the in-house database on a regular basis. A dynamic model is formulated to capture the regular fluctuations in the market and thereby, being updated with any shifts in the market dynamics. The parameters and variables involved in the research vary depending on individual markets and most importantly, both demand and supply side information is included in the model to identify the market gap.
Key Objectives of the Global Plastics Recycling Market Report:
- An all-inclusive analysis and forecast estimation of the market have been included in this report.
- The report offers valuable insights into the major drivers, limitations, opportunities, and challenges faced by the global Plastics Recycling Market
- and its leading players.
- The report sheds light on the prominent market contenders, as well as their business strategies and long-term expansion plans.
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Restraints:
Despite its growth potential, the Plastics Recycling market faces certain restraints. One challenge is the complexity and variability of plastic waste streams, which pose challenges to effective sorting, contamination control, and recycling process optimization. Variations in plastic types, colors, and additives require advanced sorting and identification technologies to achieve high-quality recycled materials suitable for manufacturing applications. Moreover, limited market demand and price volatility for recycled plastics compared to virgin materials may hinder the economic viability of plastics recycling operations, particularly in regions with inadequate recycling infrastructure and market incentives.
Emergen Research has segmented the global plastics recycling market on the basis of product type, source, recycling process, end-use, and region:
· Product Type Outlook (Revenue, USD Billion; 2019–2032)
- Polyethylene Terephthalate (PET)
- Polyethylene
- High-Density Polyethylene (HDPE)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Polypropylene
- Others
· Source Outlook (Revenue, USD Billion; 2019–2032)
- Bottles
- Films
- Foams
- Fibers
- Others
· Recycling Process Outlook (Revenue, USD Billion; 2019–2032)
- Bioplastics Recycling
- Physical Recycling
- Mechanical Recycling
- Chemical Recycling
Regional Overview:
The global Plastics Recycling Market market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Plastics Recycling Market market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements
The report considers the following timeline for market estimation:
- Historical Years: 2017-2018
- Base Year: 2019
- Estimated Year: 2027
- Forecast Years: 2020-2027
Global Plastics Recycling Market Report – Table of Contents:
- Chapter 1 includes the global Plastics Recycling Market market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
- Chapter 2 broadly categorizes the Plastics Recycling Market market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
- Chapter 3 elaborates on the competitive outlook of the Plastics Recycling Market market, focusing on the major manufacturers and vendor landscape.
- Chapter 4 exhaustively studies the key manufacturers of the Plastics Recycling Market industry, along with their anticipated sales and revenue shares.
- Chapters 5 includes market segmentation based on product type, application range, and market players.
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