Recycled Plastics Market Growth Statistics, Size Estimation, Emerging Trends, Outlook to 2028

According to the current analysis of Reports and Data, the global Recycled Plastics Market was valued at USD 46.05 Billion in 2018 and is expected to reach USD 75.57 Billion by year 2028.

According to the current analysis of Reports and Data, the global Recycled Plastics Market was valued at USD 46.05 Bihllion in 2018 and is expected to reach USD 75.57 Billion by year 2028, at a CAGR of 6.3%. Recycled plastics are resins that are manufactured by reusing waste plastic products. They are produced by recovering plastic scraps and wastes and then reprocessing them into useful products. It can be defined as the process of cleaning, sorting and processing pre-consumer or post-consumer plastic wastes into resins for various applications. Most of the plastics are non-biodegradable in nature. Thus, the only way to dispose these plastics is to recycle them. With the rising awareness, there has been a growth in the demand for this market. The resins manufactured from the plastic wastes can be used for several purposes. This versatility of application makes it an attractive option.

The major competitors in the market include W. Plastics, SUEZ, B&B Plastics, Recycled Plastics Industries, B. Schoenberg & Co., Inc. and Green Line Polymers.

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Further key findings from the report suggest

  • Rising awareness about the environmental concerns has been a key driving factor for the market. Some of the other key factors include versatility of application, low costs and strong frameworks for energy conservation.
  • Virgin plastics are the main competition to the Recycled Plastics Market. However, the non-biodegradability of the virgin plastics has worked in favor of the Recycled Plastics Market thus boosting the demand for the same.
  • Asia Pacific has been dominating the market since 2017. The region has a flourishing manufacturing sector with abundance of cheap labor and resources. It continues to grow at a CAGR of 6.3%. China is one of the largest producers of recycled plastics due to the abundance of resources.
  • Polyethylene terephthalate (PET) holds the highest market share amounting to approximately 33.9% and continues to grow at a CAGR of 5.5%. PE holds the second largest share accounting for a market share of approximately 26.3% due to its widespread availability in the market.
  • Due to an exponential increase in the use of plastics over the years, plastic scrap is available everywhere in various forms. Thus, there is seldom a shortage of raw materials for processing and recycling plastics.

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Type (Revenue, USD Million; 2020–2028)

  • Polyethylene terephthalate (PET)
  • Polyethylene (PE):
    • High Density Polyethylene (HDPE)
    • Low Density Polyethylene (LDPE)
  • Polypropylene (PP)
  • Polystyrene (PS)
  • Poly Vinyl Chloride (PVC)

Application (Revenue, USD Million; 2020–2028)

  • Packaging
  • Textiles
  • Furniture
  • Electricals

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Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of the Recycled Plastics Market

– Changes in industry market dynamics

– Detailed market segmentation by type, application, etc.

– Historical, current and projected market size in terms of quantity and value

– Recent industry trends and developments

– Competition situation of Recycled Plastics Market

– Key companies and product strategies

– Potential niche segment/region showing promising growth.

Finally, the Recycled Plastics Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.

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