Plastic Recycling Market is estimated to be US$ 79.9 billion by 2030 with a CAGR of 6.6% during the forecast period
The report " Plastic Recycling Market , By Material (PET, PP, PVC, and Others), By Recycling Process (Mechanical and Chemical), By Source (Bottles, Films, Foams, and Others), By Application (Packaging, Building and Construction, Automotive, and Other), and Region - Global Forecast to 2030" T he global plastic recycling market accounted for US$ 42.6 billion in 2020 and is estimated to be US$ 79.9 billion by 2030 and is anticipated to register a CAGR of 6.6%. Growing awareness associated with energy saving benefits in the manufacturing of recycled plastics over virgin plastics is major factor driving growth of the global plastic recycling market. In addition, huge demand for plastics across various packaging industries and negative environmental impact of plastic disposal is propelling growth of the global plastic recycling market. Government support to use recycled plastics in developed countries and increasing use of recycled plastic in textile industry can create lu