Recycled Plastic Market Research by Business Opportunities, Top Manufacture, Industry Growth, Industry Share Report, Size, Regional Analysis and Global Forecast to 2026 | Fortune Business Insights
The
global recycled plastic market size is
expected to witness significant growth backed by increasing demand from the
packaging industry. Fortune Business Insights, in its latest report,
titled “Recycled Plastic Market
Size, Share & Industry Analysis, By Type (Polyethylene Terephthalate, High-density
Polyethylene, Polypropylene, Low-density Polyethylene, and Others), By
Application (Non-Food Packaging, Food Packaging, Construction, Automotive, and
Others), and Regional Forecast, 2019-2026.”, predicts that the market
is likely to hit USD 72.6
billion by 2026 while exhibiting a CAGR of 8.55% between 2019
and 2026. The reports further observe that the market was worth USD 37.8 billion in 2018.
According to the data by the non-profit organization, Plastic
Oceans International, every year around 500 billion plastic bags are used
globally. This means that over 1 million bags are being used every minute.
Plastic is harmful to the environment in many ways and since most of the
plastic material is non-biodegradable, it is important to find a solution to
reduce the rampant production of plastic across the globe. Therefore, recycling
of the plastic to enable its reuse is vital to prevent environment degradation.
Plastic is used across several industries such as packaging, food &
beverage, pharmaceuticals, consumer goods, construction, and automotive, among
others. A holistic approach to adopt recycled plastic from the end user
industries will ensure the safety of the environment.
COVID-19 Impact Analysis:
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We understand that this health crisis has brought an unprecedented impact on
businesses across industries. However, this too shall pass. Rising support from
governments and several companies can help in the fight against this highly
contagious disease. There are some industries that are struggling and some are
thriving. Overall, almost every sector is anticipated to be impacted by the
pandemic.
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grow during COVID-19 pandemics. Based on our experience and expertise, we will
offer you an impact analysis of coronavirus outbreak across industries to help
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List
of the Key Companies Operating in the Recycled Plastic Market are:
- KW Plastics
- Veolia
- Custom Polymers
- Plastipak
Holdings
- The Coca-Cola
Company Incorporated
- Suez
- B. Schoenberg
& Co.
- Fresh Pak
Corporation
- B&B Plastics
- Green Line
Polymers
- Ultra Poly
Corporation
- Clear Path
Recycling
- Jayplas
- MBA Polymers
- RJM
International Inc.
- CarbonLite
Industries LLC
- Envision
Plastics Industries LLC
- ReVital Polymers
- Other Players
What does the Market Report Offer?
The market report offers an exhaustive study of several factors
such as drivers, restraints, challenges, and opportunities that will affect the
growth of the market in the forthcoming years. The report covers regional
demographics that include qualitative and quantitative information about the
regions that are further divided into nations that are contributing to the
growth of the market between 2019 and 2026. Furthermore, the competitive
landscape has been discussed in-depth that include information of several
players operating in the market. Moreover, information on the adoption of
strategies such as merger and acquisition, collaboration, partnerships, and
joint ventures by the companies that will drive the growth of the market has
been included during the projected horizon.
Drivers and Restraints:
Increasing Demand from Packaging Industry to Favor Growth
The data from the Plastic Ocean International informs that
packaging industry accounts for over 40% of the overall plastic usage globally
and is the largest end user segment. The consumption of plastic is increasing
backed by high demand for food-safety packaging material. The companies are
focusing on adopting recycled plastic that has low energy input and has reduced
negative impact on the environment. For instance, recycled polyethylene
terephthalate is extensively adopted to manufacture bottles for beverage
packaging. Furthermore, increasing demand for packaging sports equipment, toys,
and fashion accessories is likely to boost the global recycled plastic market
in the forthcoming years.
Segmentation:
By Type
- Polyethylene
Terephthalate (PET)
- High-Density
Polyethylene (HDPE)
- Polypropylene
(PP)
- Low-Density
Polyethylene (LDPE)
- Others
By Application
- Non-Food
Packaging
- Food Packaging
- Construction
- Automotive
- Others
By Geography
- North America
(U.S. and Canada)
- Europe (Germany,
UK, France, Italy, Spain, Poland, and Rest of Europe)
- Asia Pacific
(China, India, Japan, South Korea, Southeast Asia, and Rest of Asia
Pacific)
- Latin America
(Brazil, Mexico, and Rest of Latin America)
- Middle East
& Africa (Saudi Arabia, Turkey, Egypt, and Rest Of Middle East &
Africa)
Regional Analysis:
Presence of Established Manufacturers in Asia-Pacific to Aid
Growth
Among the regions, the market in Asia-Pacific is likely to witness
exponential growth by generating the highest global recycled plastic market
revenue during the forecast period. This is ascribable to factors such as
presence of established players in the region that is driving the demand for
recycled plastic. Furthermore, high consumption of plastic in countries such as
India and China in Asia-Pacific will aid the market growth. Europe, on the
other hand, is expected to witness growth backed by increasing demand for the
product from the construction and automotive industry. Furthermore, stringent
regulations by the government to limit single-use of plastic will favor market
growth in the region between 2019 and 2026.
Competitive Landscape:
Collaboration Strategies by the Companies to Stoke Demand
In March 2019, the Coca Cola Company announced its collaboration
with Diageo, Nestle, and Unilever to form an alliance known as the African
Plastics Recycling Alliance. The companies came together with an aim to
transform plastic recycling infrastructures present in the sub-Saharan African
region, while trying to gain foothold in the emerging global marketplace.
Adoption of strategies such as collaboration activities, partnership, and
expansion of product offering by the companies will bode well for the growth of
the market during the forecast period.
Browse
Detailed Research Insights:
https://www.fortunebusinessinsights.com/recycled-plastic-market-102568
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