LONDON--(BUSINESS WIRE)--The global recycled plastics market size is poised to reach USD 12.02 billion by 2023, according to a new report by Technavio, progressing at a CAGR close to 6% during the forecast period.
Read the 157-page research report with TOC on "Recycled Plastics Market Analysis Report by type (PET, HDPE, LDPE, PP, and others), end-users (packaging, construction, automotive, electricals and electronics, and others), and geography (APAC, Europe, MEA, North America, and South America) 2019 - 2023" Request Free Sample Pages
The market is driven by the increasing demand for recycled plastics from the packaging industry. In addition, the environment-friendly nature of recycled plastics is anticipated to further boost the recycled plastics market during the forecast period.
At present, many industries are adopting green and sustainable solutions owing to the increase in awareness and concern about the environment and healthy living. This has led to a rise in demand for recycled plastics across the world. Environmental protection norms have led several industries to shift to the use of recycled plastics. This also helps to reduce the carbon footprint and contribute to a greener environment Thus, with an increase in the adoption of green options for various applications, the global recycled plastics market is expected to grow at a significant pace during 2019-2023.
Furthermore, advances in technology have motivated plastic manufacturers to produce eco-friendly and biodegradable products. Many plastic manufacturers are changing their manufacturing techniques to produce eco-friendly plastic packaging products. improvements in the operations of the recycled plastics market can contribute to high plastic collection and recycling rates. This will help in reducing environmental pollution caused by plastics and thus drive the growth of the global recycled plastics market.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- B. Schoenberg & Co. Inc.
- Envision Plastics
- Imerys SA
- Kuusakoski Group Oy
- KW Plastics
- MBA Polymers Inc.
- PLASgran Ltd.
- SUEZ SA
- UltrePET LLC
- Veolia Environnement
Market Segmentation by Category and Product Types:
The Recycled Plastics Market can be broadly categorized into the following type:
Key Regions for the Recycled Plastics Market:
Featuring a breakdown of region wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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