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" The 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 lucrative opportunity for players operating in the global plastic recycling market.

Key Highlights:

·         In August 2018, for instance, RPC bpi has acquired PLASgran Ltd, the UK’s leading recycler of rigid plastics, to further its ongoing commitment to avoid waste of plastics.

·         In April 2016, for instance, MBA Polymers, Inc. had started the world’s first commercial production of recycled polycarbonate/acrylonitrile butadiene styrene (PC/ABS) from E-plastic scrap.

Key Market Insights from the report:          

The 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%.  The market report has been segmented on the basis of material, recycling process, source, application, and region.

·         By material, the PET is segment accounted for major revenue share in 2018, due to its ability to recycle easily and ease of collection in the form of PET bottles.

·         By recycling process, the global plastic recycling market is segmented into mechanical and chemical.

·         By source, the global plastic recycling market is categorized into bottles, films, foams, and others.

·         By application, the global packaging is segment accounted for major revenue share in 2018. This is owing to the huge application of plastic in packaging industry and the several mandates compelling the industry to adopt more environment-friendly processes and ways to cut-down on its carbon footprint.

·         By region, Asia Pacific plastic recycling market accounted for major revenue share of the global plastic recycling market and is further anticipated to maintain its dominance over the forecast period. This is owing to increasing usage of low cost substitutes of virgin plastics in the form of recycled plastics in the end-use industries in the countries of the Asia Pacific region. Europe plastic recycling market accounted for second-highest market share, in 2018, owing to rising awareness regarding the need to recycle for the protection of environment in the European countries. North America plastic recycling market is expected to grow at the slow rate during the forecast period, 2019, due to the difficulties in sorting and processing, unfavorable economics, and consumer confusion about which plastics can actually be recycled in countries of the region.

Before purchasing this report, request a sample or make an inquiry by clicking the following link:

https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/2230

 

The prominent player operating in the global plastic recycling market includes PLASgran Ltd., UltrePET, LLC, MBA Polymers, Inc., Envision Plastics Industries LLC, RJM International Inc., B&B Plastics, Inc., KW Plastics, Inc., Veolia Environnement SA, Suez SA, Schoenberg & Co., and Plastipak Holdings, Inc.

About Prophecy Market Insights

Prophecy Market Insights is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.

Contact Us:

Sales

Prophecy Market Insights

Email- sales@prophecymarketinsights.com

 

Comments

Post a Comment

Popular posts from this blog

Eucalyptus Essential Oil Market is estimated to grow with a CAGR of 5.24% during the forecast period

Image
  Eucalyptus oil is a distilled oil made from the Eucalyptus tree's leaf. Eucalyptus oil has a wide range of functions, including medicinal, repellant, antibacterial, flavouring, aroma, and industrial applications. To extract eucalyptus oil, the leaves of several eucalyptus species such as eucalyptus globulus, eucalyptus kochii, and eucalyptus polybractea are steam distilled. Eucalyptus oil has a variety of therapeutic properties. According to studies, eucalyptus oil can help combat respiratory infections by destroying bacteria, viruses, and fungi. It's also used to treat bronchitis, asthma, plaque and gingivitis, and toenail fungus, among other things. The report   "   Global Eucalyptus Essential Oil Market, By Nature (Organic and Conventional), By Application (Anti-Microbial Agent, Antiseptic Agent, Deodorizing Agent, and Insect Repellent Agent), By End Use (Pharmaceutical Industry, Cosmetic Industry, and Others), By Distribution (Direct and Indirect Channel), and B
Read more

Amusement Park Market worth US$ 82.9 Billion 2029 with a CAGR of 5.3 %

Image
  A park with numerous entertainment-related attractions, including rides, games, and other activities, is known as an amusement park. A theme park is a particular kind of amusement park that centres its buildings and attractions on a main subject and frequently has many regions with various themes. Amusement parks are stable structures designed for continuous operation, as opposed to transient and mobile funfairs and carnivals. They offer attractions that often cater to a range of age groups and are more extensive than city parks and playgrounds. While themed areas are common in amusement parks, theme parks concentrate a stronger emphasis on a certain subject or group of subjects with more precisely constructed themes. Global Amusement Park Market accounted US$ 52.1 billion in 2020 and is projected to register a moderate CAGR of 5.3 % over the forecast period.   The report  “ Amusement Park Market , By Rides (Mechanical, Water and Other Rides), By Age (Below 18, 19-35, 36-50, 51
Read more