Global Plastic Recycling Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
As per the report published by Market Research Future (MRFR), the global plastic recycling market is slated to grow at a healthy pace during the forecast period between 2016 and 2023.
The expected valuation of the global market is reported to reach USD 53,958 million by the end of the forecast period, thereby taking a huge leap from its 2017 valuation of USD 36,966.5 million. The compound annual growth rate of the market is expected to be 6.61% during the mentioned review period.
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The market is expected to be influenced by various key factors. The rising pricing level of petroleum, continuous efforts by the government towards imposing favorable environmental regulations, growing awareness concerning waste management, and others are some of the driving factors of the global market. This is expected to cause a positive influence to the overall market in the next few years.
Competitive Landscape
The global plastic recycling market hosts a number of key players. This includes names such as –
- KW Plastics Inc.
- MBA Polymers Inc.
- CarbonLITE Industries
- Kuusakoski Group Oy
- Custom Polymers Inc.
- Green – O – Tech India
- Kishco Pvt. Ltd.
- Seraphim Plastics
- UltrePET LLC
- Miller Waste Mills
- Recycling Textile sro
- Envision Plastics
- Plastic Recycling Inc.
- Knebel Textilrecycling GmbH
- Boer Group Inc.
- others
Industry Buzz
April 8th, 2019, it was announced that a Chinese company named Weeco Recycling Company will invest USD 45 million to set up an all new company in Kenya. The company would aid in collecting and recycling plastic bottles that amount to 2,000 tons per month.
April 29th, 2019, food and beverages companies Nestle, Suntory Beverage & Food Europe, and Pepsi have made an agreement to join an industrial consortium to aid in the development of Carbios’ enzyme technology for the purpose of plastic recycling.
Market Segmentation
The global plastic recycling market segmentation is based upon recycling process, application, and material.
By application, the market includes construction, packaging, automotive, textile, and others. Herein, the packaging segment is expected to hold onto its pole position in the coming years. The valuation of the segment is calculated to reach USD 21,195.4 million by the end of the forecast period.
By material, the market comprises polypropylene (PP), polyethylene terephthalate (PET), high-density polyethylene (HDPE), low-density polyethylene (LDPE), and others. The polyethylene terephthalate segment holds a majority of the market share and accounts for close to 30% of the overall market. It is expected to grow with the fastest CAGR of 7.96%
By recycling process, the market divides into mechanical and chemical. Among them, the mechanical segment is forecasted to hold the commanding position of this market category with the highest share percentage.
Regional Analysis
The regional segmentation of the global plastic recycling market covers the following key regions: Americas, Europe, Asia Pacific, and the Middle East and Africa.
Among these mentioned regions, Asia Pacific holds the dominant portion in the global plastic recycling market. The region further expected to gain significant traction and retain its primal position in the global landscape during the forecast period. The expected valuation of the regional market is calculated to be USD 26,649 million by the end of 2023. This is a striking jump from its 2017 market valuation of USD 17,316.9 million. The region is expected to grow primarily due to factors such as the rapid-scale economic development, continuous favorable regulations imposed by the government, and the growing population base.
The Americas stands tall in the second position in the global plastic recycling market. The region is projected to gain considerable growth in the coming years due to various key factors. The projected CAGR has been calculated to be 6.22% during the forecast period. The growth of the region can be attributed to the advancing technologies in recycling and the widespread awareness concerning the imperative need for waste management.
Europe holds the third spot in the global landscape and is projected to witness a striking growth during the forecast period. MRFR forecasts that the region will reach a valuation of USD 10,818.7 million by the end of 2023. With the volume of plastic wasted accumulated for recycling purposes in Europe increasing by 79%, the potential of the region is unmatched in the coming years. The region is also expected to aid key players of the market in generating significant revenues in the near future.
Lastly, the Middle East and Africa is identified as a least share holder in the global plastic recycling market. Furthermore, the region is projected to gain limited growth during the forecast period.
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Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Increasing Use of Plastic in the Packaging Industry
4.2.2 Government Support for Recycling Plastic
4.2.3 Impact of Plastic Disposal on the Environment
4.3 Restraint
4.3.1 Lack of Awareness Regarding Recycling
4.4 Opportunities
4.4.1 Ban on Import of Plastic Waste by Emerging Economies
4.4.2 Use of Recycled Plastic in Various Industries
Continued…….
List of Tables
Table 1 Market Synopsis
Table 1 List of Assumptions
Table 2 Global Plastic Recycling Market, by Application, 2016-2023 (Usd Million)
Table 3 Packaging: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 4 Construction: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 5 Textile: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 6 Automotive: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 7 Others: Plastic Recycling Market, by Region, 2016-2023 (Usd Million)
Table 8 Global Plastic Recycling Market, by Material, 2016-2023 (Usd Million)
Continued……..
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