PUBLISHER: Global Insight Services | PRODUCT CODE: 1598641
PUBLISHER: Global Insight Services | PRODUCT CODE: 1598641
The recycled plastics market is anticipated to expand from $46.09 billion in 2023 to $92.3 billion by 2033, experiencing a CAGR of approximately 7.2%.
The recycled plastics market encompasses the industry dedicated to processing used plastic materials into reusable forms, reducing environmental impact and resource consumption. This market includes collection, sorting, and reprocessing of plastic waste into new products, driven by growing environmental awareness, regulatory mandates, and demand for sustainable materials. It supports diverse sectors such as packaging, automotive, and construction, promoting circular economy practices and innovation in recycling technologies.
The market is witnessing growth, primarily driven by heightened environmental awareness and regulatory mandates for sustainable practices. Within this market, polyethylene terephthalate (PET) and high-density polyethylene (HDPE) emerge as the top-performing sub-segments, owing to their widespread application in packaging and consumer goods. Polypropylene (PP) follows as the second-highest performing sub-segment, supported by its versatility and increasing usage in automotive and construction industries. Regionally, Asia-Pacific leads the market, propelled by rapid industrialization, urbanization, and governmental initiatives to mitigate plastic waste. North America ranks as the second most lucrative region, benefiting from advanced recycling technologies and strong consumer demand for sustainable products. Countries such as China and India are at the forefront in the Asia-Pacific region, while the United States drives growth in North America. The market's expansion is further bolstered by innovations in recycling processes and strategic collaborations across the value chain, enhancing the efficiency and quality of recycled products.
Key Companies
Ecoplast, Plastipak, KW Plastics, Veolia, Envision Plastics, Suez, Biffa, MBA Polymers, Plastrec, Custom Polymers, Clear Path Recycling, Carbon Lite, Phoenix Technologies, Evergreen Plastics, Avangard Innovative, Green Line Polymers, Poly Quest, Ultre PET, Re Vital Polymers, Greenpath Recovery, Eco Cycle Innovations, Green Wave Plastics, Re Nu Polymers, Sustain Tech Solutions, Re Poly Industries, Reclaim Plastics, Enviro Plastics Group, Circularity Creations, Eco Renew Plastics, Bio Loop Materials, Zero Waste Polymers, Pure Cycle Ventures, Next Gen Recyclers, Eco Regen Solutions, Re Form Plastics, Poly Cycle Innovations, Revive Plastics, Green Cycle Technologies, Eco Fusion Polymers, Renewed Plastics
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