Global Recycled Plastics Market to Attain a Revenue of USD 45748.1 Million by 2028; Rising Concern for Plastic Pollution to Generate Opportunities for Market Growth

Key Companies Covered in the Recycled Plastics Market Research Report Are Veolia Environnement SA, Suez S.A., Imerys S.A., Plastipak Holdings, Inc., D S Smith Plc, Polindo Utama, B. Schoenberg & Co., Inc., Advanced Drainage Systems, Inc. (Green Line Polymers), KW Plastics, and other key market players.

New York, Dec. 08, 2021 (GLOBE NEWSWIRE) -- According to the statistics by the United Nations Environment Programme (UNEP), since the early 1950s, more than 8.3 Billion tonnes of plastic has been produced, out of which, around 60% of it has ended up in the natural environment or landfill. On the other hand, according to the statistics by the Plastic Oceans International, 10 Million tons of plastic are dumped annually in the oceans. The statistics also stated that 1 Million marine animals were killed every year due to plastic pollution.

Research Nester, in its repository of market research reports, has added a report on the topic “Global Recycled Plastics Market”, which is studied for the forecast period, i.e., 2021-2028. The report includes a brief analysis of the key players operating in the market, along with their latest developments. The report also focuses on the latest market trends, along with the opportunities and the drivers that are expected to drive the market growth during the forecast period.

Plastic pollution is a major concern worldwide. According to the statistics by the Plastic Soup Foundation, the total plastic waste generated in the year 2016 in the United States was 42 Millions of metric tons. Further, India, China, and Brazil, recorded 26.3, 21.6, and 10.7 Millions of metric tons respectively in the same year. The increasing concern for plastic pollution can also be attributed to the growing utilization of single-use plastics. According to the statistics by Ocean Crusaders Foundation, globally around 500 Billion single-use plastic bags are used every year by shoppers. Owing to such rising concerns for plastic pollution, and for the growing demand for plastics amongst the end-users, the need for plastic recycling is growing significantly, which is anticipated to drive the growth of the global recycled plastics market during the forecast period. The market garnered a revenue of USD 36186 Million in the year 2019 and is further projected to touch USD 45748.1 Million by the end of 2028, by growing with a CAGR of 4.5% during the forecast period.

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The global recycled plastics market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Out of these, the market in the Asia Pacific is projected to hold the highest market share throughout the forecast period. The market in the region is also anticipated to garner the largest market revenue of USD 22097.8 Million by the end of 2028, up from revenue of USD 16643.6 Million in the year 2019. The market in the region is also anticipated to grow with the highest CAGR of 5% during the forecast period. The market in the region is segmented by country into India, China, Vietnam, South Korea, Japan, Singapore, Australia, and the Rest of Asia Pacific. Out of these, the market in China is anticipated to hold the largest market share throughout the forecast period and further touch a market revenue of USD 4428.4 Million by the end of 2028, up from a revenue of USD 3556.7 Million in 2019. Alternatively, the market in Singapore is expected to hold the second-leading share and further touch revenue of USD 4198.6 Million by 2028, up from USD 2869.4 Million in 2019. The market in Singapore is also expected to grow with the highest CAGR of 6.1% during the forecast period.

On the other hand, the market in Europe is expected to hold the second-leading market share and touch revenue of USD 8131.8 Million by the end of 2028. The market in the region is further expected to reach USD 6059.8 Million by the end of 2021. The market in the region is segmented by country into the U.K., Germany, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Out of the market in these countries, the market in Germany held the largest market revenue of USD 1658.5 Million in 2019 and is further expected to hold the highest market share throughout the forecast period. The market in the country is also expected to hold the largest revenue of USD 1871.1 Million by the end of 2028. Alternatively, the market in the Netherlands is anticipated to grow with the highest CAGR of 4.8% during the forecast period.

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The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

The global recycled plastics market is segmented by plastic type into bottles, collapsible & squeezable tubes, films, polymer foams, bags, caps & lids, and others. Out of these segments, the bottles segment is anticipated to garner the highest market share throughout the forecast period and further touch a market revenue of USD 18270.1 Million by the end of 2028, up from a revenue of USD 12840.9 Million in 2019. The segment is also anticipated to grow with the highest CAGR of 5.9% during the forecast period. In the Asia Pacific, the segment garnered the largest revenue of USD 5968.4 Million in 2019 and is further expected to touch USD 9179.4 Million in 2028. The segment in the region is also anticipated to grow with the highest CAGR of 6.7% during the forecast period. Moreover, in China, the segment is anticipated to garner the largest market revenue of USD 1711.6 Million by the end of 2028. In the year 2021, the segment in the country is expected to reach USD 1190.2 Million. The bottles segment in China is also projected to grow with the highest CAGR of 5.3% during the forecast period.

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In Europe, the bottles segment is projected to hold the largest market share throughout the forecast period. In the year 2019, the segment in the region reached a revenue of USD 2480 Million, and it is further projected to touch USD 3126.7 Million by 2028. The segment is also anticipated to grow with the highest CAGR of 5.3% during the forecast period. Amongst the countries in the region, in Germany, the bottles segment is expected to garner the largest market revenue of USD 521.8 Million in the year 2021 and grab the highest market share throughout the forecast period.

The global recycled plastics market is also segmented on the basis of end-use into building & construction, personal care & cosmetics, food & beverage, electrical & electronics, automotive, textile, and others. Amongst these segments, the food & beverage segment is expected to garner the largest market revenue of USD 10688.5 Million by the end of 2028, up from a revenue of USD 7987.7 Million in 2019 by growing with the highest CAGR of 5.2% during the forecast period. Further, the segment in North America garnered the largest market revenue of USD 1008.2 Million in 2019 and is further expected to hold the highest market share throughout the forecast period. The segment in the region is also expected to touch a revenue of USD 1191 Million by the end of 2028. The building & construction segment, on the other hand, in North America, is expected to grow with the highest CAGR of 5% during the forecast period. Moreover, in the United States, the segment is expected to garner the largest market revenue of USD 879.1 Million in the year 2021 and further grow with a CAGR of 4.2% during the forecast period. The building & construction segment, on the other hand, is expected to grow with the highest CAGR of 5.2% during the forecast period in the country. ,

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Furthermore, in Asia Pacific, the segment garnered the largest market revenue of USD 3668.2 Million in 2019 and is further projected to hold this position during the forecast period and touch USD 5210.7 Million by 2028. Alternatively, the building & construction segment is expected to grow with the highest CAGR of 6% during the forecast period. Moreover, in China, the food & beverage segment is anticipated to garner the largest market revenue of USD 1040.7 Million by 2028, up from a revenue of USD 786 Million in 2019.

The global recycled plastics market is also segmented on the basis of resin, scrap, and by recycling process.

Global Recycled Plastics Market, Segmentation by Resin

• Polyethylene

  • LDPE

  • HDPE

  • Others

• Polyethylene Terephthalate (PET)

• Polypropylene (PP)

• Polyvinyl Chloride (PVC)

• Polystyrene

• Others

Global Recycled Plastics Market, Segmentation by Scrap

• Rigid

• Non-Rigid

Global Recycled Plastics Market, Segmentation by Recycling Process

• Mechanical Recycling

  • Grinding

  • Compounding

  • Others

• Chemical Recycling

  • Pyrolysis

  • Gasification

  • Others

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Some of the prominent industry leaders in the global recycled plastics market that are included in our report are Veolia Environnement SA, Suez S.A., Imerys S.A., Plastipak Holdings, Inc., D S Smith Plc, Polindo Utama, B. Schoenberg & Co., Inc., Advanced Drainage Systems, Inc. (Green Line Polymers), KW Plastics, and others.

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