DUBLIN--(BUSINESS WIRE)--The "Recycled Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global recycled plastics market reached a value of US$ 35.4 Billion in 2018. The market is further projected to reach US$ 50.5 Billion by 2024, growing at a CAGR of 6.1% during 2019-2024.
This report provides a deep insight into the global recycled plastics market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.
Global Market Drivers
Reduction of plastic wastes and numerous recycling programmes have become a priority for both developed and developing nations across the globe. Owing to this, governments in different regions are implementing policies and regulations for controlling waste production, encouraging the reuse and recycling of plastic wastes, and encouraging systematic waste treatment. Governments are also enforcing landfill taxes, waste disposal taxes, recycling credit schemes, deposit refund systems, etc. to promote effective waste management. These measures by governments in various countries and states are expected to further facilitate the growth of the recycled plastics market.
The demand for plastic material has been constantly increasing across several industries like food and beverage, automotive, packaging and healthcare. The development of these industries can be accredited to rising population, inflating disposable incomes and continuous product innovations. In this context, higher manufacturing cost of virgin resins has necessitated the use of recycled plastic products, thereby bolstering the growth of the global recycled plastics market.
Plastic manufacturers and recyclers are now being more focused on adding value and consumerism to the recycled plastic products. They are coming up with secondary containment products, laundry carts, bulk storage containers etc. through roto moulding methods.
Several brands are investing in research and development to enhance the quality performance of recycled plastic products and incorporate them in every plastic component that they use.
Breakup by Product Type
On the basis of type, the market is segregated as polyethylene terephthalate (PET), high density polyethylene (HDPE), polypropylene (PP) and low-density polyethylene (LDPE) and others. At present, polyethylene terephthalate (PET) accounts for the majority of the market share as it is used in the manufacturing of containers, shoes, automobile parts, luggage, etc.
Breakup by Application
Based on application, the market is segmented as non-food contact packaging, food contact packaging, construction, automotive and others. Amongst these, non-food contact packaging exhibits a clear dominance in the market. This type of packaging is employed in industrial processing products for protecting the products from harsh weather conditions.
Breakup by Raw Material
On the basis of raw material, the market is divided into plastic bottles, plastic films, rigid plastic and foam, fibres, and others. Currently, plastic bottles represent the major type of raw material for recycled plastics as they find numerous applications in industries for storing carbonated drinks, medicines, oils, etc.
On a geographical front, North America enjoys a leading position in the global recycled plastics market on account of ascending demand for recycled plastics. This can be attributed to various initiatives undertaken by government and other organisations in the region. North America is followed by Europe, Asia Pacific, Latin America, and Middle East and Africa.
The market is fragmented in nature with the presence of several small and large manufacturers who are competing in terms of prices and quality. There prevails a rigid competition in the market which makes it difficult for small players to enter. Some of the key players operating in the market are:
- Avangard Innovative
- B. Schoenberg & Co. Inc.
- Delta Plastics
- UltrePET LLC
- CarbonLITE Industries
- Suez Recycling & Recovery Holdings
- KW Plastics
Key Topics Covered
2 Scope & Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Recycled Plastics Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Plastic Type
5.4 Market Breakup by Raw Material
5.5 Market Breakup by Application
5.6 Market Breakup by Region
5.7 Market Forecast
5.8 SWOT Analysis
5.9 Value Chain Analysis
5.9.2 Research & Development
5.9.3 Raw Material Procurement
5.10 Porters Five Forces Analysis
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
6 Market Breakup by Plastic Type
6.1 Polyethylene Terephthalate (PET)
6.2 High Density Polyethylene (HDPE)
6.3 Polypropylene (PP)
6.4 Low Density Polyethylene (LDPE)
7 Market Breakup by Raw Material
7.1 Plastic Bottles
7.2 Plastic Films
7.3 Rigid Plastic & Foam
8 Market Breakup by Application
8.1 Non-Food Contact Packaging
8.2 Food Contact Packaging
9 Market Breakup by Region
9.1 North America
9.4 Latin America
9.5 Middle East & Africa
10 Recycled Plastics Manufacturing Process
10.1 Product Overview
10.2 Raw Material Requirements
10.3 Manufacturing Process
10.4 Key Success & Risk Factors
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
11.3.1 Avangard Innovative
11.3.2 B. Schoenberg & Co. Inc.
11.3.3 Delta Plastics
11.3.4 UltrePET LLC
11.3.5 CarbonLITE Industries
11.3.7 Suez Recycling & Recovery Holdings
11.3.8 KW Plastics
For more information about this report visit https://www.researchandmarkets.com/r/4jrgwo