A new market research report introduced by TechSci Research provides an overall analysis of Global Plastic Recycling Market. The presented market report will incorporate all the major factors and advancements that assume an imperative role in market growth in the anticipated range of 5 years. It likewise introduces the overview of industry players, preferences, challenges the market is experiencing. The research report gives an entire comprehension of the Global Plastic Recycling Market in terms of revenue.
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Global Plastic Recycling Market is projected to cross USD 50.0 Billion by 2023, growing at a CAGR of over 5.0% during the forecast period. Rising awareness about the pollution caused by plastics and the energy saving benefits in the manufacturing of recycled plastics over virgin plastics are the major growth drivers of the global market for plastic recycling. In terms of type, the plastic recycling market is categorized into Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS) and others. Owing to the easy and cost-efficient recycling process of polyethylene terephthalate plastics, the polyethylene terephthalate category accounted for a majority of the share among all the types of plastics in 2017. In terms of source, the plastic recycling industry is categorized into Bottles, Films, Fibers, Foams and others. Among all the sources, bottles held the largest share in the market for plastic recycling in 2017.
In terms of end-use industry, the plastic recycling industry is categorized into Packaging, Building & Construction, Textile, Automotive, Electrical & Electronics and others. The packaging industry was the largest among all the end-use industries in the global market for plastic recycling. Taking into an account of geographical landscape, in terms of value and volume, the market for plastic recycling was the largest in the Asia-Pacific region in 2017. The growth of the Asia-Pacific region is majorly attributable to the increasing usage of cheaper substitutes of virgin plastics in the form of recycled plastics in the en-use industries.
Some of the leading players in the Global Plastic Recycling Market are MBA Polymers Inc., Joe’s Plastics Inc., RJM International Inc., Ultra Poly Corporation, Asia Plastic Recycling Holding Limited, Imerys S.A., Envision Plastics, PLASgran Ltd., K K Asia (HK) Ltd., UNM International Limited etc.
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