DUBLIN--(BUSINESS WIRE)--The "Recycled Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global recycled plastics market reached a value of US$ 37 Billion in 2017. Owing to the below factors, the market is expected to reach a value of US$ 52 Billion by 2023, exhibiting a CAGR of 5.7% during 2018-2023.
Increasing prices of conventional plastics along with the growing concern for the environment represent the key factors driving the market. Recycling plastics reduces the amount of energy and natural resources needed to create virgin plastic. Therefore, shifting focus towards sustainability is boosting the demand for recycled plastics across the globe. Moreover, increasing local demand and lower labour costs has expanded the market in the emerging regions such as Asia Pacific, particularly in China, India, and the ASEAN countries.
The report has segmented the market on the basis of type including Polyethylene Terephthalate (PET), High Density Polyethylene (HDPE), Polypropylene (PP), Low Density Polyethylene (LDPE) and others. Amongst these, Polyethylene Terephthalate (PET) represents the most popular type.
The market is further segmented on the basis of raw materials used. Bottles, rigid plastic and foam, bags and films, and carpets and fibers are the major raw materials used in the production of recycled plastics.
On the basis of applications, non-food contact packaging represents the largest segment, followed by food contact packaging, construction, automotive and others.
Region-wise, North America is the largest market, accounting for the majority of shares. Other major regions include Europe, Asia Pacific, Latin America, and Middle East and Africa.
Key Players: Avangard Innovative LP, B. Schoenberg and Co., Inc., Delta Plastics, UltrePET LLC, and CarbonLITE Industries.
Key Topics Covered
2 Scope and Methodology
3 Executive Summary
5 Global Recycled Plastics Market
6 Market Breakup by Plastic Type
7 Market Breakup by Raw Material
8 Market Breakup by Application
9 Market Breakup by Region
10 Recycled Plastics Manufacturing Process
11 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/6q5tcx/2018_global?w=4