Global Plastics Recycling Market Size, Share, Growth, and Forecast to 2025
Posted by rekha on September 4th, 2019
Precision Business Insights (PBI) in its report titled “Global Plastics Recycling Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024” assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global plastics recycling market was valued at US$ XX Mn in 2017 and increasing at a significant CAGR over the forecast timeframe owing to surge in the industrialization, increased awareness regarding environmental pollution and health hazards, government initiatives to prevent the environmental pollution which is caused due to the disposal of plastics, and increasing demand for the plastic in packaging, automotive, and electrical & electronics industries are expected to drive the global plastics recycling market. However, increasing promotions in people to use paper or jute bags to avoid pollution, high competition from virgin plastics, rigorous government policies and regulations are anticipated to hinder the revenue share of global plastics recycling market.
Global plastics recycling market segmented on the basis of type, source, end user, and region
For request sample: https://www.precisionbusinessinsights.com/request-sample/?product_id=36251
Polyethylene Terephthalate Dominates the Global Plastics Recycling Market
Based on the type of plastics recycling, global plastics recycling market segmented into Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS) and others. PET plastics recycling dominated the global plastics recycling market in 2017 and estimated to dominate over the forecast period due to its ease of collection in the form of PET bottles, its nature of easy recyclability and the cost of this resin is also very cheap, rise in awareness about the global among the people, are surge the market over the forecast years. However, a faster growth rate observed for the hydrocarbon plastics recycling due to their natural occurrence and ecofriendly nature.
Asia Pacific leads the Global Plastics Recycling Market
PBI’s global plastics recycling market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, Asia pacific accounted for larger revenue share through 2013-2017 and expected to dominate over 2018-2024 owing to successfully developing manufacturing sector ,high and cheap availability of labor, increasing consumer demand. Several industries use plastics for many applications and therefore, industrialization, in turn, would drive the demand for recycled plastics in the region as they provide a cost advantage over virgin plastics. European plastics recycling market projected to exhibit significant growth due to increased plastics recycling market projected to grow at significant rate owing to strict regulations regarding the reuse of recyclable plastics and the increasing awareness regarding the need to recycle plastic for the protection of environment and health of human beings. alternatives in R&D will increase the growth in the future.
Launch of newer products, frequent ecofriendly product approvals, and strategic alliances are the key strategies adopted by market players
Global plastics recycling market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent ecofriendly product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance. in November 2017, SUEZ and LyondellBasell (US) signed a joint venture agreement on the production of high-quality circular polymers. Under the terms of the agreement, both the companies will be a 50/50 stakeholder of QCP3 (Netherlands), a high standard plastics recovering company. By this agreement both companies hold a strong position in the global plastic recycling market.
Key player’s profiles in the report are
By End User
For more information: https://www.precisionbusinessinsights.com/market-reports/global-plastics-recycling-market/
Like it? Share it!
About the Authorrekha
Joined: July 26th, 2019
Articles Posted: 219
More by this author