The North America market accounted for highest revenue growth in 2021 due to high focus on Research & Development (R&D) activities to develop advanced plastic recycling solutions.
For instance, Recycling Technologies by breaking down plastic has created an advanced material Plaxx, by using a thermal cracking process.
This factor is considered as the major restraint of the overall growth of the plastic recycling industry.
With the changes in the market trends, the growth of the plastic recycling industry is spurring up with a CAGR of 5.82% during the forecast period. Such factors have increased the plastic recycling market growth despite the widespread of COVID 19. Summarizing the sources and end uses for recycled materials that are available. According to United Nations report published in October 2021, pollution from plastics will be doubled by end of 2030, which is creating serious threat to all ecosystems across the globe. Such initiatives are expected to drive revenue growth of the market. Need a custom data table, graph or complete report? In addition, rising investments in Research & Development (R&D) activities is also driving growth of the market. Recycled waste products include bottles, vehicles, carpet, and electronics. For the purposes of this report, the term recycling refers to the removal of products from the waste stream for use (not including incineration or energy recovery). The intensive usage of automotive industries and industrialization across the region are impacting the overall growth of the plastic recycling industry across the Asia-pacific region. ID: MRFR/PNT/2113-CR
Currently, the Asia-pacific region is dominating the plastic recycling industry since 2018.
What is the plastic recycling market growth driver? Such reports have propelled the European government to increase recycling activities and create more awareness among the industrial verticals. This manufacturing plant is primarily expanded to manufacture recycled PET, especially r-PET pellets that are derived from PET flake.
Complete the form below and we'll send you a private, secure link to download the Report Sample as a PDF. The market data in the tables of this report covers only post-consumer plastics. For instance, one of the leading market players, Agilyx Corporation has decided to join hands with Exxon Mobile chemical company in the year 2021 and together they have been focusing on recyclability and supplying the wastage to the recycling industries. On the other hand, European countries are also exhibiting a higher growth rate in the plastic recycling industry, owing to the restrictions and strict norms regarding the wastage of plastics. Several countries have a poor collection and sorting systems and therefore the plastic recycling activities were extremely minimal in those countries. Nylon can be depolymerized to caprolactam. Also, the unavailability of financial support for government initiatives worsens the condition. Market volumes by end use or application are measured at the levels of both the amount of plastic available for recycling and the amount of plastic that is recycled.
The U.S. is recycling less than one tenth of its plastic waste and Europe about one third, but now all these countries will have more plastic that they can no longer export, hence plastic situation is getting worse. Ice, Electric, Hybrid, Autonomous Vehicles, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends, North America, Europe, Asia-Pacific, and Rest of the World (RoW), Asia Plastic Recycling Holding Limited, B & B Plastics Recycling Inc, B. Schoenberg & Co., CarbonLITE Industries LLC, Clear Path Recycling, Consolidated Container Company, GreenLine Polymers, Imerys SA, Indorama Ventures Public Company Limited, Jayplas, Joes Plastics Inc., Kuusakoski Group Oy, KW Plastics, , Montello S.p. Feedstock recycling products are more akin to the raw materials used to produce plastics (e.g., petroleum, natural gas). Biodegradable Polymers: Global Markets and Technologies, Global Electric Vehicle Battery Reuse and Recycling Market, Full Report: Plastics Recycling: Global Markets, Chapter- 3: Overview of Plastics Recycling, Chapter- 5: Global Market Analysis by Type of Resin, Chapter- 6: Global Market Analysis by Collection Location, Chapter- 7: Global Market Analysis by Source, Chapter- 8: Global Market Analysis by Industry, Chapter- 9: Global Market Analysis by Region, An up-to-date review and analysis of the global market revenue for recycled plastics and related technologies, Analyses of the global market trends, with data from 2020 and 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027, Evaluation and forecast the global plastic recycling market size in value and volumetric terms, and corresponding market share analysis by resin type, collecting location, source of waste, end-use, and geographic region, Latest information on major market dynamics (DROs), technology advancements, industry structure, government regulations, and other macroeconomic factors affecting the overall plastics industry, Highlights of emerging technology trends, opportunities and gaps estimating current and future demand for recycled plastics, and impact of COVID-19 on the progress of this market, Identification of companies best positioned to meet the demand for recycled plastics owing to their proprietary technologies, mergers and acquisitions, joint ventures and other strategic alliances, Insight into recent industry structure, current competitive scenario, R&D activities, new product development, and company value share analysis based on their segmental revenues, Profile descriptions of the leading industry players, includingIndorama Ventures, LyondellBasell, Teijin, JK Plastics, ACI Plastics and Phoenix Technologies LP. Several industrial verticals were facing distress due to the loss in supply and demand ratio, lack of labor, and many other issues. The demand for recycled plastics especially the type PET and HDPE are increasing among various end-user industries and the increasing industrial verticals that are utilizing recycled plastics for varied consumer goods are expected to propel the plastic recycling market growth during the forecast period. The Asia Pacific market is expected to register a significantly rapid revenue growth rate owing to growing environmental concerns.
These acquisitions of the leading market players and novel innovations in technology are driving the plastic recycling market growth. Recycled polyethylene is advantageous to both environment and manufacturing facilities.
Especially the inclination towards the ready-to-eat food systems and fast food systems in the developed regions are generating a higher amount of plastic wastage. Introduction of Climate Leadership and Environmental Action for our Nations (CLEAN) Future Act in 2021, in the U.S., is intended to achieve net-zero GHGs by 2050. This is due to the increasing number of small industries in the market and their significant operation.
Number of refugees and homeless individuals is increasing across the globe and there is an urgent need for an affordable housing solution. Plastics recycling market revenue growth is primarily driven by factors such as rising demand for eco-friendly and sustainable products and increasing demand from manufacturers owing to its cost-effectiveness. Bottles acquire a large share in the plastic market, are most recycled products, and used in various industries for making containers for medicines, carbonated drinks, shampoos, and others. During the pandemic, China's import restrictions on plastic waste, as well as supply chain disruptions and shortages of manufacturing feedstock, exposed fragility of plastic production and recycling infrastructure. Our experienced industry analysts assess growth opportunities, market sizing, technologies, applications, supply chains and companies with the singular goal of helping you make informed business decisions, free of noise and hype. Wood/fiber plastic composites may be made from several different resin types, each possibly derived from several different products. Furthermore, 170 billion pounds of polypropylene plastic is produced every year and reclaimed for recycling and reuse. Recycled polyethylene has a wide range of applications, such as plastics, bottles, toys, picnic tables, ropes, fencing, trash cans, shampoo bottles, and furniture, among others. High-density polyethylene can be recycled up to 10 times before it loses its structural integrity. Reports are discounted or included with certain, All reports provided in PDF format.
KW Plastics and KW Plastics Recycling Division. Report ID: ER_001051, Published Date: Jun 2022 | Who are the key players of the plastic recycling market? This section covers topics such as the amount of plastic annually collected and recycled from these sources. The polyethylene segment revenue is projected to increase at a rapid growth rate during the forecast period, The bottle segment revenue is expected to register a rapid growth rate during the forecast period, The building and construction segment revenue is expected to increase at a steady rate during the forecast period, The North America market is expected to account for a robust revenue CAGR during the forecast period, Major Companies and Competitive Landscape, Product Type Outlook (Revenue, USD Billion; 20192030), Source Outlook (Revenue, USD Billion; 20192030), End-Use Outlook (Revenue, USD Billion; 20192030), Regional Outlook (Revenue, USD Billion; 20192030), Start typing & press "Enter" or "ESC" to close, Published Date: Jun 2022 | Similarly, the awareness among the people has increased significantly, and they are more inclined towards adopting lifestyle change that favors the growth of the plastic recycling industry. This will position the U.S as a global leader in advanced plastics recycling technologies and manufacture new plastics that are recyclable by design. Already a member? Major manufacturers and startup companies are investing in recycling technologies and taking various initiatives to introduce new processes and eco-friendly and recycled plastics products into the market.
| Format: Electronic (PDF) | Publish Type: Publish | Number of Pages: 250, 14671 110 Avenue, Surrey, British Columbia,V3R2A9, Revenue in USD Billion and CAGR in % from 2022 to 2030. Such reports increase the awareness regarding the environmental impact created by plastic waste and thereby increase the overall growth of the plastic recycling industry. It is less expensive to produce from recycled polyethylene than from virgin plastic and by using recycled polyethylene, companies can lower their costs and contribute to improve the environment. Emergen Research has segmented the global plastics recycling market based on product type, source, end-use, and region: The global plastics recycling market revenue is expected to register a CAGR of 6.57% during the forecast period.
Further chapters also look at plastics recycling by resin and collecting location. The Sources section describes existing markets by product source. Eco-bricks or eco-blocks can be made with recycled single-use bottles and plastic films and can be used in building beds, tables, walls, and others. Market volumes by source of waste (e.g., bottles, films) are measured at the level of the amount of plastic available for recycling. The plastics recycling market size were USD 38.52 Billion in 2021. The bottle segment accounted for largest revenue share in 2021 and is expected to register a rapid growth rate during the forecast period. The Introductory section summarizes the studys goals and objectives, the reasons for doing the study and scopes. Also, the generation of PET waste which is utilized to manufacture several consumer goods such as combs, bottles, racks, and similar other objects is expected to grow with a higher growth rate during the forecast period. Mechanical pressing is the method that is intensively utilized in the plastic recycling industry. This magnetic additive when applied to a material, creates better air and moisture insulation and sensitive products, such as coffee and medical products, can be easily stored using this. Also, the manufacturing companies are focusing on the recycling methodologies that help in reducing the environmental pollution. The manufacturing plant is anticipated to produce kiloton of food-grade pellets annually.In December 2017, the Asian market was at boom as one of the management and post-consumer plastic production plants in India has utilized electronic and automotive plastic waste to produce post-consumer plastic.In June 2017, Kuusakoski Group and Roskn Roll Oy and It-Uudenmaan Jtehuolto Oy collaborated and opened a joint venture Revanssi Oyto manage comprehensive waste in southern Finland.In June 2017, Kuusakoski Group formed a joint venture with Roskn Roll Oy and It-Uudenmaan Jtehuolto Oy, with a 51% share in the company called Revanssi Oy to offer comprehensive waste management services in southern Finland. Moreover, most of the plastic recycling plants have solutions that are highly inefficient in utilizing the fuel and are costlier than virgin plastics. The global market of biodegradable polymers should grow from $3.7 billion in 2022 to $9.5 billion in 2027, at a compound annual growth rate (CAGR) of 20.6% during the forecast period of 2022 through 2027. Impact of COVID-19 on the Plastics Recycling Industry. At what CAGR can the plastic recycling market expand? The plastic recycling market value was atUSD 38.51 billion in 2021 and it is expected to surpass the market value of over USD 67.32 billion by 2030, registering a CAGR of 7.19% during the forecast period (2022 to 2030). 2022 Marketysers Global Consulting LLP. The Market Dynamics chapter lays special emphasis on the drivers, restraints, and opportunities. For example, on 02 November 2021, Honeywell launched UpCycle Process Technology, which expands different types of recyclable plastics and produces feedstock with a lower carbon footprint. The existing combined addressable market opportunities for plastics and petrochemicals in the U.S. and Canada, which could be met in part by recovering waste plastics, totals USD 120 billion per year. In addition, with continuously increasing population, rising frequency of natural disasters along with COVID-19 pandemic, and territorial conflicts and wars have created economic recession globally. It describes the impact of the COVID-19 pandemic, and it features a value chain analysis as well as a Porters analysis. Products are covered separately, and they may be made from plastic from a combination of sources. This factor is considered as the major challenge for the plastic recycling market growth. Polyethylene is the most commonly used material used for making plastic products and easiest plastic to recycle. Composite materials, such as paper and plastic foil, cannot be recycled unless they are separated and landfills and incineration are always used to discard these materials, which is also creating environmental pollution. Especially, the lower price point and easy availability of the equipment are presenting opportunities for the plastic recycling industries to deploy the mechanical pressing equipment to foster the overall growth of the plastic recycling industry.
Transportation and reaching out to the processing plants have become difficult for the key market players and have imposed a significant decline for the overall growth of the plastic recycling industry. North America plastic recycling market growth can spur due to high utility of PET. Get a 20% discount on the total cart amount - valid till Dec 31st, 2021.
What is the regional analysis of the plastic recycling market? Moreover, the region imports and recycles the waste plastic and converts them for significant applications. Furthermore, in Texas, 25% of recycled and recovered polymers could support 40 advanced recycling and recovery facilities, generating over USD 500 million in economic output each year.
Advancements in micro-emulsion technology is driving revenue growth of the market. Some reports generated in the European countries states that over 4.4 million tons of plastic waste are generated across the European countries, which are becoming landfills over the year. You will be added to our mailing list.
The building & construction segment is expected to grow at a steady rate during the forecast period. Tell us more. For instance, plastic innovation challenge by Department of Energy will accelerate innovations in the plastic industry and reduceplastic waste in oceans and landfills. The growing utility of recyclable packages can prompt the global plastic recycling market expansion. The polyethylene segment accounted for largest revenue share in 2021. HANGZHOU TAIFOR CHEMICAL TEXTILE FIBER CO. LTD. SHANDONG YONGPING RENEWABLE TIOMIN RESOURCES INC. TRANSCONTINENTAL RECYCLING MONTRAL/ENVIROPLAST INC. Comprehensive overview of the global markets for plastics recycling within the industry, Analyses of the global market trends, with data corresponding to market size for 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025, Assessment of market potential for recycled plastics, revenue forecast in dollar value terms and market volumes on the basis of resin type, source of waste, end use, application sector and geographical region, Country specific data and analysis of China, India, Vietnam, Indonesia, Japan, South Korea, Germany, Italy, France, U.K., Spain, U.S., Canada, Mexico, Brazil, Australia and South Africa, Latest information on major market drivers, opportunities and challenges, industry chain structure, regulatory and environmental updates, macroeconomic trends, and technological advancements that are affecting the overall marketplace, Identification of companies best-positioned to meet the global plastics recycling market demand owing to their proprietary technologies, mergers and acquisitions, joint ventures and other strategic alliances, Competitive landscape of the leading companies encompassing their successful marketing strategies, key contribution, and recent developments, Company profiles of market leading participants, including CarbonLITE, Kunststoffrecycling Ges.m.b.H, LyondellBasell, MBA Polymers Inc., MTM Plastics GmbH, Montello S.p.A., Teijin, Recycled Plastics UK and Shakti Plastics Industries, An overview of the global markets for plastic recycling, Analyses of global market trends, with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023, Discussion on the history and current state ofplastic recycling market, and future trends, Insight into the government regulationsand targets of the plastic recycling industry. A., MTM Plastics GmbH, Plasgran Ltd., Plastipak Holdings, Inc., Recycled Plastics UK, RJM International Inc., Seraphim Plastics, Shakti Plastics Industries, Suez, Teijin Limited, Ultra Poly Corporation , UltrePET, LLC, Veolia, Custom Polymers, Inc., Envision Plastics , Plastic Recycling Inc., KW Plastics, Inc., UltrePET, LLC , Seraphim Plastics , MBA Polymers Inc. , Green-O-Tech India, Increased the demands for the manufacturers, Change in reprocessing and recycling techniques. Such factors are the primary challenge for the overall growth of the plastic recycling industry. Which region is expected to grow at a higher pace during the forecast period? The plastic recycling industry was also facing distress throughout the pandemic as the collection of plastics from the key manufacturing locations and other key places had become difficult as there were stringent restrictions for movement.
All rights reserved. It accounts for approximately 20% of the worlds plastics and is used to make trays, tubs, and pots for food applications. Any secondary use or reuse of the material is assumed to have already taken place. Ltd., PET Recycling Company (PETCO), LyondellBasell, Geo-Tech Polymers, Phoenix Technologies International, LLC and MBA Polymers Inc. Coverage of history and current state of plastic recycling market, Insight into the government regulations and targets of the Plastic Recycling industry, Analyses of the company profiles of the industry. According to a report published by the University of Houston, the region could support up to 100 advanced recycling facilities by 2030, each capable of processing 25,000 tonnes per year, reducing Greenhouse Gas Emissions (GHG) by 10 million metric tonnes of CO2 per year. The global market for electric vehicle battery reuse and recycling is estimated to grow from $1.4 billion in 2021 to $8.4 billion by 2026, at a compound annual growth rate (CAGR) of 43.1% during the forecast period of 2021-2026. After the global market sections, there will be four chapters that discuss the regional plastics recycling markets: North America, Europe, Asia, and Rest of the World. Germany accounted for largest revenue share for plastic waste recycling in the regional market followed by Italy, Spain, the UK, and France.
As the recycling process is difficult and involves significant procedures incurs manufacturing costs that affect the selling price of the recycled plastics. Growth rates given are compound annual growth rates (CAGRs) for the period 2022-2027. However, launch of recent policies regarding zero Green House Gases (GHGs) emissions by governments and regulatory bodies of various countries is restraining advancement of a sustainable plastics economy. Established companies are engaged in various research & development activities and initiatives to develop and deploy new and more efficient technologies in the plastics recycling market. The growing population and industrialization across the globe combined with the exponential rise in the economic condition and the increasing industrial activities are generating enormous amounts of plastic waste and are contributing to the growth of the plastic recycling market growth. This report will be concerned with activities in four regions: North America, Europe, Asia, and the Rest of the World (Rest of the World). Seraphim Plastics (US), and Kuusakoski Group Oy (Finland), and MBA Polymers Inc. (US) are some reputed names in the plastic recycling market.
Additionally, polyethylene, both recycled and non-recycled, is incredibly durable and can be used for numerous purposes with great efficiency. The global plastics recycling market is consolidated with a few large and medium-sized companies accounting for majority market revenue. Some of the end-users and consumers show a higher preference for virgin plastics over recycled plastics for the better quality and cheaper price. These shelters are low-cost, easy to construct, take less space, and will be in high demand in the future. Especially, the food and beverage industry and pharmaceutical industry, due to the increasing demand across the globe has increased their production activities and has been found to generate a huge amount of plastic wastage in recent years. In the building & construction industry, mixture of melted plastics and certain additives can be used to make roadways. Similarly, the increasing number of regulations imposed by the government and other organizations that surge the adoption of recycled products combined with the increased awareness and responsible public is further augmenting the plastic recycling market growth in recent years. For example, Altais Nova, based in Spain, is developing a magnetic additive, which makes identification and separation of packaging at recycling stage easier. The global plastics recycling market size was USD 38.52 Billion in 2021 and is expected to register a revenue CAGR of 6.57% during the forecast period. Most recycled polyethylene terephthalate (PET) comes from PET bottles, and the main end market for recycled PET bottle resin is fibers. Plaxx can be used for making heavy oil products or can be recycled into other plastic materials.
The recycled PET products are considered to be more suitable for the applications such as packaging, textiles, films, and molded parts that are used in the automotive industry and electronics industry. Market revenue growth is also driven by increasing technological advancements in sustainable technologies and development of innovative methods of plastic recycling and segregation. Researchers fromUniversity of Bath are working with Protomax, a plastic engineering technology company, to design shelters made with recyclable plastics called Storm Board. The plastics recycling market in Europe accounted for second-largest revenue share in 2021 due to rising government initiatives to speed up innovation in recycling plastics materials. For instance, a recent report states that there are over 8 million tons of plastic waste in the water bodies that potentially affect the marine ecosystem. Recycled plastic can be used as a raw material for making other materials and also has lower-environmental-footprint than other virgin materials. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at. Below we have mentioned a few technical terms which we will be used multiple times in the report.
For instance, MacRebur Ltd. is a plastic road manufacturing company, which is using single-use plastic for this purpose and is significantly contributing to reducing carbon footprint in environment. Competition from virgin plastics products and availability of alternative substitutes and difficulty in collection of raw materials are some key factors hampering growth of the global plastics recycling market. They have since then worked together to drive the petrochemical complex activities. Login to access this report free. The recycling of PET plastics accounts for about 70% of the overall plastic recycling operations and thereby leading the other segments in the plastic recycling market growth. Report ID: ER_001051
Manufacturers in this region are shifting their preferences toward recycled plastic as it is cheaper than virgin plastic and is also eco-friendly. Plastic Recycling Market is projected to be worth USD 67.32 billion by 2030, registering a CAGR of 7.19% during the forecast period (2022 to 2030), the market was valued at USD 38.51 billion in 2021.
The depletion of natural resources due to the intensive usage and dumping of plastics in the ocean are creating huge stress in the overall environment.
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