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Plastic Recycling Market Research Report - Forecast to 2023

Global Plastic Recycling Market Information by Material (Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Polypropylene (PP), Low-Density Polyethylene (LDPE) and Other), by Recycling Process (Mechanical, and Chemical), Application (Packaging, Construction, Automotive, and Other) and by Region - Forecast to 2023 Market Scenario: Plastic recycling means reprocessing the scrap or waste plastic material into useful products. Plastic is inexpensive, lightweight and durable materials, which can readily be moulded into a variety of products with a wide range of applications. The growing demand for plastics from various industries including construction, food and beverage, and pharmaceutical is expected to propel the growth of the recycled plastics market. Rising consciousness for environmental protection among consumers is also adding to the market growth. However, the lack of awareness for recycled plastic products is the restraint that may hamper the growth of global plastic recycling market. The global plastic recycling market is projected to grow at a CAGR of 6.5% from 2017 to 2023, to reach the market size of USD 53.72 billion by the end of the forecast period.

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