Plastic Recycling Market to Witness a Pronounce Growth Rate of ~6.5% CAGR by 2023 To Reach the Market Size of 53.72 Bn

Global Plastic Recycling Market Information by Material (Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Polypropylene (PP), Low-Density Polyethylene (LDPE) and Other), by Recycling Process (Mechanical, and Chemical), Application (Packaging, Construction, Automotive, and Other) and by Region – Forecast to 2023

Market research future published a half cooked research report on global plastic recycling market. The global plastic recycling market is expected to grow over the CAGR of around 6.5% during the period 2017 to 2023

Market Highlights

Plastic recycling means reprocessing the scrap or waste plastic material into useful products. Plastics are inexpensive, lightweight and durable materials, which can readily be molded into a variety of products with a wide range of applications. Recycling of plastics is cost effective. A large amount of crude oil is required to make the production of virgin plastics, which is considerably expensive than recycling plastics. This has the positive influence on the plastic recycling market.

The global plastic recycling market is projected to grow at a CAGR of 6.5% from 2017 to 2023, to reach the market size of USD 53.72 billion by 2023.

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Taste the market data and market information presented through more than 85 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Plastic Recycling Market Information from 2017 to 2023″

Plastic is inexpensive, lightweight and a durable material, which can readily be molded into a variety of products with a wide range of applications. Plastic recycling means reprocessing the scrap or waste plastic material into useful products. Rising consciousness for environmental protection, is the major driving factor of the market. Recycling of plastic materials is critically important from an environmental point of view as it helps keep global warming, ozone layer depletion, and environmental pollution under check while saving energy.

Key Players:

The key players of global plastic recycling market are PLASgran Ltd. (U.K.), UltrePET, LLC. (U.S.), Kuusakoski Oy (Finland), Envision Plastics (U.S.),KW Plastics, Inc.U.S.), Custom Polymers, Inc. (U.S.), Advanced Environmental Recycling Technologies, Inc. (U.S.), MBA Polymers UK Ltd. (U.K.), CarbonLITE Industries (U.S.),  and Green-O-Tech India (India).

The market has been analyzed based on materials, recycling process, applications, and regions. On the basis of applications, the global plastic recycling market is segmented as packaging, construction, automotive, and others. Packaging dominates the application segment of the global plastic recycling market. High demand from packaging for PET bottles is driving the market. Products such as alcoholic beverages, soft drinks, detergents, and edible oils are also packaged using PET containers. Construction segment is also a prominent application for recycled plastic. Products such as plastic lumber, landscaping furniture, and roof & floor tiles are largely used in construction industry. PET fibers and yarns are used for textile applications

Regional Analysis of Global Plastic Recycling Market:

Asia-Pacific dominates the global plastic recycling market followed by Europe. Availability of cheap labor and relatively lenient governmental regulations in this region ultimately increase the demand of plastic recycling. This region is expected to grow at the fastest pace during the forecast period. Europe is another important market that is expected to contribute significantly during the forecast period mainly due to rising awareness regarding environmental protection.

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Scope of Report

On the basis of materials, global plastic recycling market is segmented as polyethylene terephthalate (PET), high-density polyethylene (HDPE), polypropylene (PP), low-density polyethylene (LDPE) and other, out of which, polyethylene terephthalate (PET), being one of the major manufactured type of recycled plastic, dominates the material segment of global plastic recycling market,. PET is widely used in the manufacture of bottles and containers, mainly due to its cheap cost and easy availability. Products such as alcoholic beverages, soft drinks, detergents, and edible oils are also packaged using PET containers.

This study provides an overview of the global plastic recycling market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global plastic recycling market as material, recycling process and application.

By Material

  • Polyethylene terephthalate (PET)
  • High-density polyethylene (HDPE)
  • Low-density polyethylene (LDPE)
  • Polypropylene (PP)
  • others

By Recycling Process

  • Mechanical
  • Chemical

By Application

  • Packaging
  • Construction
  • Automotive
  • others

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The report for Global Plastic Recycling Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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