Revolutionizing the Polypropylene Recycling Industry: Innovations and Growth Opportunities
Posted by Jack Martin on May 29th, 2023
The report "Polypropylene Recycling Market by Source (Bottles, Films, Bags), End-use Industry (Packaging, Automotive, Building & Construction, Textiles), Process (Mechanical, Chemical) & Region - Global Forecast to 2030", size is expected to reach USD 8.2 billion in 2022 to USD 13.5 billion by 2030, at a CAGR of 5.8% from 2022 to 2030. Major factors driving the growth of polypropylene recycling includes the increasing adoption of recycled polypropylene in various end-use industries such as packaging, textile, automotive and others.
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The mechanical segment, by process, accounted the highest share of the polypropylene recycling market. The recycling method that is most frequently used is mechanical recycling. The most economical recycling method is typically mechanical recycling. PP materials can be reused and recycled several times with mechanical recycling, which maintains the material's chemical composition and creates a closed loop.
The bottles segment, by source, accounted for the highest share of the polypropylene recycling market. PP bottles are good choices for recycling. It can be recycled for future use or remelted to create new goods.
The packaging segment, by end-use industry, accounted for the highest share of the polypropylene recycling market. Applications for recycled polypropylene in packaging are numerous. Growing need for flexible packaging in the food industry and rising demand for packaged consumer items are projected to accelerate market growth.
Asia Pacific accounted as the largest market for polypropylene recycling and is projected to show the fastest growth during the forecast period. The demand of polypropylene recycling is driven by the growing manufacturing industries in the region. Many developing countries in Asia are becoming hubs of manufacturing of various global industries.
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About the AuthorJack Martin
Joined: August 7th, 2017
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