PUBLISHER: Grand View Research | PRODUCT CODE: 1575263
PUBLISHER: Grand View Research | PRODUCT CODE: 1575263
The global mechanical recycling of plastics market size was estimated at USD 35,170.05 million in 2023 and is projected to grow at a CAGR of 9.36% from 2024 to 2030. Rising non-biodegradable plastic pollution globally is increasing the threat of various ill effects caused by this pollution, leading to a surge in the demand for sustainable actions to manage plastic pollution effectively.
In recent years, the market has seen a shift towards circular economy models, where plastics are reused and recycled multiple times. Governments, particularly in Europe and North America, are pushing for stricter regulations on plastic waste management, encouraging industries to adopt sustainable recycling practices. Large consumer brands are also pledging to increase the use of recycled plastics in their packaging, boosting demand for mechanical recycling. The trend towards greater transparency and traceability in recycling processes is also growing, with companies investing in technologies that ensure the quality and purity of recycled plastics.
Global Mechanical Recycling Of Plastics Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented Mechanical Recycling of Plastics market report on the basis of Product, Application, and Region: