The recycled plastics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Recycled Plastics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The recycled plastics market size has grown steadily in recent years. It will grow from $52.03 billion in 2023 to $54.52 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to environmental awareness, government regulations, e-waste recycling, consumer demand, supply chain sustainability, .
The recycled plastics market size is expected to see steady growth in the next few years. It will grow to $65.65 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to circular economy initiatives, corporate sustainability goals, plastic waste reduction, bioplastics and hybrid materials, sustainable packaging. Major trends in the forecast period include advanced recycling technologies, eco-friendly packaging, plastic-to-fuel conversion, e-waste recycling, sustainable fashion
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Scope Of Recycled Plastics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Recycled Plastics Market Overview
Market Drivers –
The rising awareness among investors regarding environmental protection is expected to propel the growth of the recycled plastics market going forward. Environmental protection is any action taken to preserve or improve the quality of environmental media by preventing pollution from entering them or reducing their presence there. The use of recycled plastics would be an alternative to protect the environment since, instead of discarding, the plastic would be utilized or recycled for further use. For instance, according to a study named ‘Consumer Passion For The Environment Grows As A Result Of The Pandemic’, conducted by Mastercard Inc., a US-based financial services corporation among 24 countries and featuring 25,519 adults from respective countries between January 19th and March 5th, 2021, it has been found that 58% of adults are more aware of their environmental impact and 85% are prepared to take personal action to address environmental and sustainability issues in 2021. Therefore, the rising awareness among investors regarding environmental protection is expected to propel the growth of the recycled plastics market going forward.
Market Trends —
Technological advancements are a key trend gaining popularity in the recycled plastics market. Major companies operating in the recycled plastics market are focused on developing new technological solutions to strengthen their position in the market. For instance, in September 2021, Sumitomo Chemical Co., Ltd., a Japan-based chemical company, launched MeguriTM, a new brand for plastic products obtained through recycling technology. MeguriTM refers to a range of recycled plastic items made using chemical or material recycling techniques, including acrylic resin (PMMA, poly-methyl-methacrylate), polyethylene, and polypropylene. It embodies Sumitomo Chemical’s founding principle of resolving social challenges through its business activities by representing a circular economy for resources, a circle of people, and circling back to the origin.
The recycled plastics market covered in this report is segmented –
1) By Type: Polyethylene Terephthalate, Polyvinyl Chloride, Polyethylene, Polypropylene, Polystyrene, Other Types
2) By Source: Plastic Bottles, Plastic Films, Plastic Foams, Plastic Fibers, Other Sources
3) By Application: Packaging, Textile, Automotive, Building And Construction, Electrical And Electronics, Other Applications
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Regional Insights —
Asia-Pacific was the largest region in the recycled plastics market in 2023. North America is expected to be the fastest-growing region in the recycled plastics market share during the forecast period. The regions covered in the recycled plastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies —
Major companies operating in the recycled plastics market include Rethmann SE & Co. KG, Biffa Waste Services Limited, Stericycle Inc., Veolia India Private Limited, Jayplas Limited, KW Plastics, MBA Polymers Inc, Waste Connections Inc., Clean Harbors Inc, Suez India Private Limited, Plastic Recycling Inc., UltrePET LLC, Greenotech Recycling Private Limited., Advanced Environmental Recycling Technologies Inc., Alpek S.A.B. de C.V., B. Schoenberg & Co Inc., B&B Plastics Recycling Inc., Berry Global Inc., CABKA North America Inc., CarbonLite Industries LLC, Custom Polymers Inc., Dart Container Corporation., Delta Plastics of the South LLC, ECO-Cycle Solutions LLC, Emco Industrial Plastics Inc., Envision Plastics LLC, Far Eastern New Century Corporation, Fresh Pak Corporation, GDB International Inc.
Table of Contents
1. Executive Summary
2. Recycled Plastics Market Report Structure
3. Recycled Plastics Market Trends And Strategies
4. Recycled Plastics Market — Macro Economic Scenario
5. Recycled Plastics Market Size And Growth
…..
27. Recycled Plastics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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