Global Plastic Recycling Market – Overview
The usage of plastic in the packaging sector especially has increased at a phenomenal pace in the past few years. Focused Market reports connected to the packaging & transport sector among others lately have been made available by Market Research Future which publishes a report on this sector. The industry is expected to display a CAGR of 6.5 percent while the market is expected to achieve revenues worth USD 53.72 billion by the end of the forecast period.
The ease of accessibility to plastic and their economical nature has boosted the growth of the market greatly in the past few years. The demand for recycling plastic products has gained significant momentum due to negative effects that it inflicts on the environment. The development of technology in the sector for plastic recycling will increase the expansion rate of the industry favorably in the forecast period.
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Global Competitive Analysis
Challengers in the market who are constantly delivering customer value have devised their corporate strategy blueprint in a manner that can bring about the best outcomes for development in the current scenario, while also concurrently enhancing their product’s value. The capability to fuel their competitive edge is one of the chief causes powering their efforts in this period. The opportunity for development in the industry appears to be encouraging through the forecast period. The escalating interest for diversification in the industry, has indirectly allowed the companies to utilize many scenarios available in the industry. This situation has created prospects for portfolio improvements along with diversification in the sector, which has enhanced the scenario for market competitors immensely in this industry. The firms in this industry are also trying to improve and preserve financial liquidity that can be vital to invest in growth prospects as and when they arise.
The major players in the plastic recycling industry globally are Kuusakoski Oy (Finland), MBA Polymers UK Ltd. (U.K.), UltrePET, LLC. (U.S.), CarbonLITE Industries (U.S.), Envision Plastics (U.S.),KW Plastics, Inc.U.S.), Custom Polymers, Inc. (U.S.), PLASgran Ltd. (U.K.), Advanced Environmental Recycling Technologies, Inc. (U.S.), and Green-O-Tech India (India).
April 2018 Scientists have recently discovered an enzyme that is able to “digest” plastic and revolutionalize recycling. The group of scientists at the US Department of Energy and University of Portsmouth has accidentally engineered the enzyme that quickly breaks down polyethylene terephthalate (PET) which is the commonly used rigid plastic commonly used to make drinks bottles. The teams were studying the structure of a bacteria that is naturally occurring which breaks down PET, when they accidentally engineered the new and more efficient enzyme. The enzyme could deliver a recycling solution for the ever-growing quantity of discarded plastics. The breakthrough could enable plastics to be recycled more competently in the future.
The plastic recycling industry globally is divided on the basis of material, recycling process, application and region. The segment on the basis of Material which comprises of High-Density Polyethylene (HDPE), Polyethylene Terephthalate (PET), Low-Density Polyethylene (LDPE) Polypropylene (PP) and Others. On the basis of recycling process the segment is divided into Mechanical and Chemical. The application segment of the industry comprises of Packaging, Construction, Automotive, and Others. Lastly, the market comprises of regions such as North America, Europe, Asia Pacific and rest of the world.
Detailed Regional Analysis
The regional analysis of the plastic recycling includes regions such as Asia Pacific, North America, Europe and rest of the world. The Asia-Pacific region controls the plastic recycling industry globally followed by the European region. The accessibility to cheap labor and comparatively lenient governmental regulations in this region are effectively increasing the demand of plastic recycling. This region is anticipated to develop at a rapid pace during the forecast period. The European region is another key region that is estimated to contribute considerably during the forecast period mostly due to the rising awareness levels regarding environmental protection.
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- Manufacturing Organizations
- Distributors & Suppliers
- Environmental Associations
- Government as well as Independent Regulatory Authorities
- Research Institute / Education Institute
- Potential Investors
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.
- Product matrix which gives a detailed comparison of the market for different recycled product types
- Regulatory Landscape
- Pricing Analysis
- Macroeconomic Indicators
- Geographical analysis across 15 countries
- Profiling of 10 key market players
- In-depth analysis including SWOT analysis, and strategy information of related to report title
- Competitive landscape including emerging trends adopted by major companies
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