Global Recycled Plastics Market 2018 | Growth, Demand and Forecast Research Report to 2023

1. Global Recycled Plastics Market Propelled by Government Initiatives Copyright © IMARC. All Rights Reserved

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3. Report Description and Highlights Report Description Global Recycled Plastics Market Propelled by Government Initiatives Plastic refers to a material produced from a wide array of synthetic or semisynthetic organic polymers such as nylon, polyethylene, PVC, etc. However, most industrial plastics are made from petrochemicals which are usually non-biodegradable. It has been observed that plastic accounts for around 90% of the total waste accumulated by the municipal corporations worldwide. Regular use of plastic has affected the environment, in turn, facilitating the need for plastic recycling as it helps in reducing the waste and optimizes the lifespan of plastics. Before plastic is recycled, it goes through five different stages – sorting, washing, shredding, identifying and classifying, and extruding. The plastic pellets then produced are further used for manufacturing different types of plastic products. However, an item made out of recycled plastic usually cannot be recycled again. In terms of value, the global recycled plastics market size reached US$ 37 Billion in 2017. Looking forward, the market is expected to reach US$ 52 Billion by 2023, at a projected CAGR of 5.7% during 2018-2023. Read full report with TOC: https://www.imarcgroup.com/recycled-plastics-market

4. Report Description and Highlights Report Description Environmental Concerns Driving the Plastic Recycling Market Production of plastic releases huge amounts of toxic and greenhouse gases into the environment which elevates the levels of pollution. This has created an awareness about the hazards caused by plastic, thereby driving the growth of the global recycled plastics market. Further, the amount of natural resources and energy required for creating virgin plastic is comparatively higher than recycled plastics. This has boosted the recycled plastic demand across the globe, in turn, driving the market growth. Apart from this, lower labour costs and rising local demand for recycled plastic products have resulted into an expansion of the market, particularly in the developing regions such as the ASEAN countries. PET Represents the Most Popular Plastic Type The major types of plastic used for recycling include Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Polypropylene (PP) and Low-Density Polyethylene (LDPE). Currently, PET represents the most popular thermoplastic polymer resin owing to its advantageous properties such as lightweight, durability, non-toxicity, water-resistance and recyclability. As PET does not react with food products or water, it is majorly used in the packaging industry. Recycled PET, on the other hand, is used to produce fibre, sheets, strapping as well as food and non-food bottles.

5. Global Recycled Plastics Market Report Description

6. Report Description and Highlights Report Description Bottles: The Leading Raw Material Segment A wide variety of plastic products are used in the plastic recycling industry such as bottles, plastic films, rigid plastic and foam, and fibres. Bottles, which are used for packaging products ranging from pesticides to beverages, represent the major type of raw material used for plastic recycling. Since there has been a significant rise in plastic waste worldwide, it has led to a surge in the recycling of plastic bottles. The bottles which were initially used for storing water, soft drinks and juices are employed for manufacturing clothes, sleeping bags and new bottles after recycling. Whereas, bottles used for storing shampoos, cleaners, detergents and milk are used in the production of new bottles, picnic tables, recycling bins, plastic lumber, playground equipment, etc. North America holds around half of the recycled plastics market share Based on geography, the market has been segregated as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Amongst these, North America is the leading market on account of rising initiatives by the governments and several organisations. For instance, the Association of Plastic Recyclers (APR) has taken steps to promote the knowledge of using post-consumer resin (PCR) to the vendors with the help from The Recycling Partnership. This has majorly boosted the sales for recycled plastic products in the region.

7. Report Description and Highlights Report Description In addition, the European Commission has planned to recycle or reuse more than a half of the plastic generated in Europe. The restrictions on the use of microplastics and declining production of single-use plastics are further enhancing the consumption of recycled plastics in the region. Want more information about this market? Request a free report sample: https://www.imarcgroup.com/request?type=report&id=841&flag=B The global recycled plastics market is fragmented in nature with the presence of several small and large players competing in terms of quality and prices. Some of the key global players operating in the market include Veolia Es (UK) Ltd., Suez Recycling and Recovery Holding UK Ltd., B. Schoenberg and Co. Inc., KW Plastics, Carbonlite Industries, Avangard Innovative LLP, Delta Plastics of The South, LLC and UltrePET, LLC. Browse more related reports:  Vinyl Flooring Market Research Report: https://www.imarcgroup.com/vinyl-flooring-market Laminated Veneer Lumber Market Research Report: https://www.imarcgroup.com/laminated-vaneer-lumber-market

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