Global Plastic Recycling Market Overview And Statistics For 2024-2033

The Business Research Company's Global Plastic Recycling Market Overview And Statistics For 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 24, 2024 /EINPresswire.com/ -- The plastic recycling market has experienced robust growth in recent years, expanding from $41.71 billion in 2023 to $45.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to environmental awareness, regulatory initiatives, resource scarcity, waste management challenges, incentive programs, market competition.

What Is The Estimated Market Size Of The Global Plastic Recycling Market And Its Annual Growth Rate?
The plastic recycling market is projected to continue its strong growth, reaching $61.56 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to single-use plastic bans, consumer education, extended producer responsibility (EPR), waste-to-energy solutions, and global supply chains.

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Growth Driver of The Plastic Recycling Market
The increase in the consumption of plastics is expected to propel the growth of the plastic recycling market going forward. Plastics refer to synthetic organic polymers derived primarily from fossil fuels widely used in almost every sector of the modern economy due to their lightweight, low cost, durability, and versatility. Through plastic recycling processes waste or scrap plastic can be recovered into functional and useful products.

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Which Market Players Are Driving The Plastic Recycling Market Growth?
Key players in the market include Kuusakoski Group Oy, Berry Global Inc., B & B Plastics Inc., Plastipak Packaging Inc., CarbonLite Industries LLC, Custom Polymers Inc., MBA Polymers Inc., Clear Path Recycling LLC, Veolia Environnement S.A, Plasgran Ltd., Jayplas Limited, Envision Plastics Industries LLC, Fresh-Pak Corporation, WM Intellectual Property Holdings LLC, Green Line Polymers Inc., Biffa, Republic Services, Clean Harbors, Stericycle, Advanced Environmental Recycling Technologies, KW Plastics, The Coca-Cola Company, LyondellBasell, Indorama Ventures, Loop Industries, Nova Chemicals, Agilyx, The Procter & Gamble Company, PreZero, GreenMantra Technologies, EFS-plastics Inc., Preserve, Next Generation Recyclingmaschinen GmbH, Interseroh.

What Are The Key Trends That Influence Plastic Recycling Market Share Analysis?
Major companies operating in the market are focused on developing innovative products, such as recycling additives, to gain a competitive edge in the market. Recycling additives are substances that are added to recycled plastics to improve their properties and make them more suitable for use in new products.

How Is The Global Plastic Recycling Market Segmented?
1) By Type: Polyethylene Terephthalate, Polyethylene, Polystyrene, Polyvinyl Chloride, Polypropylene, Other Types
2) By Source: Bottles, Films, Foams, Fibers, Other Sources
3) By End Use: Packaging, Automotive, Building And Construction, Electrical And Electronics, Other End Uses

Geographical Insights: North America Leading The Plastic Recycling Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Plastic Recycling Market Definition
Plastic recycling refers to the process of recycling and recovering waste or scrap plastic into functional and useful products. It reduces high rates of plastic pollution, helps conserve resources, and diverts plastics from landfills or unintended destinations such as the oceans.
The main types of plastic recycling are polyethylene terephthalate, polyethylene, polystyrene, polyvinyl chloride, polypropylene, and others. Polyethylene terephthalate refers to a semi-crystalline polymer made by copolymerizing ethylene glycol and terephthalic acid. It is taken from various sources including bottles, films, foams, fibers, and other sources, and used by packaging, automotive, building and construction, electrical and electronics and others.

Plastic Recycling Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global plastic recycling market report covering trends, opportunities, strategies, and more
The Plastic Recycling Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on plastic recycling market size, plastic recycling market drivers and trends, plastic recycling market major players and plastic recycling market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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