Plastic Recycling Industry Forecast: 6.5% CAGR through 2029

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nikhats 13 Sep 2024

Plastic Recycling Market was valued US$ 50.58 Bn. in 2022 and is expected to reach US$ 78.61 Bn. by 2029, at a CAGR of 6.5% during a forecast period.

Plastic Recycling Market Dynamics

The plastic recycling market is experiencing dynamic growth driven by several key factors. Rising environmental awareness, stricter government regulations, and increasing corporate sustainability initiatives are pushing the demand for recycled plastics. Innovations in recycling technologies, such as chemical recycling and advanced sorting methods, are enhancing the efficiency and quality of recycled materials, further boosting market expansion. However, challenges such as high operational costs, contamination issues in recycled plastics, and fluctuating raw material prices hinder growth. Additionally, growing consumer preference for eco-friendly packaging and the development of circular economy models are expected to create new opportunities, fostering long-term sustainability in the plastic recycling industry.

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Plastic Recycling Market Scope
Import and export consumption, supply and demand chain, costs, shares, sales volumes, revenues, and gross profits are covered in the Plastic Recycling market analysis report. The manufacturing bases, capacity, production, factory prices, revenues, and market share of each manufacturer in the Plastic Recycling market are examined in the report.

Plastic Recycling Market Overview
Maximize Market Research, a leading international business consultancy firm, has released its highly anticipated "Plastic Recycling Market" Report, providing crucial insights into the market's potential in the Asia Pacific region. Despite economic challenges post the Covid lockdown period, the market has showcased resilience and an upward trend. The report positions the Asia Pacific region as a lucrative opportunity for Plastic Recycling market and its component manufacturers over the next decade.

Plastic Recycling Market Segmentation

by Source

Plastic Bottles
Plastic Films
Synthetic Fibers
Rigid Plastics & Foams
Others
by Type

Polyethylene Terephthalate (PET)
Polyethylene (PE) – LPDE & HDPE
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polystyrene (PS)
Polyamide (PA)
Others

For use in textile applications, polyethylene terephthalate (PET) is mostly recycled into PET yarns and fibers. Nevertheless, the majority of plastics are used to make building materials like floor and roof tiles, plastic timber, and furniture for landscaping. Containers made of post-consumer polyethylene terephthalate, or PETE, are arranged according to color. The flakes are further cleaned and washed by PET recyclers.
by Recycling Method

Thermal decomposition
Heat compression
Distributed recycling
Pyrolysis
Others
by End-Use

Packaging
Building & Construction
Textiles
Automotive
Electrical & Electronics
Others

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Plastic Recycling Market Key Players

1. MBA Polymers Inc.
2. MOL Group
3. Plasgran Ltd.
4. Novolex
5. Phoenix Technologies International LLC
6. Vikoz Enterprises, Inc.
7. Plastic Recycling, Inc.
8. Terracycle US, Inc.
9. KW Plastics
10.DS Smith PLC
11.PETCO
12.Waste Connections, Inc.
13.Custom Polymers, Inc.
14.Envision Plastics
15.Kuusakoski Group Oy
16.Clear Path Recycling
17.Clean Tech Incorporated
18.Mohawk Industries Incorporated
19.CarbonLite Industries
20.Envision Plastics Industries
21.Advanced Environmental Recycling Technologies Incorporated
22.Evergreen Plastics
23.PolyQuest
24.Phoenix Technologies
25.Verdeco Recycling

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Regional Analysis
The Plastic Recycling market report comprises an extensive analysis of the Plastic Recycling industry across five primary world regions are Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. It delves into the market's key geographies and highlights notable segments and sub-segments within the industry.

Key Questions answered in the Plastic Recycling Market Report are:
• What is Plastic Recycling Market?
• What is the forecast period of the Plastic Recycling Market?
• What is the competitive scenario of the Plastic Recycling market?
• Which region held the largest market share in the Plastic Recycling Market?
• What are the opportunities for the Plastic Recycling Market?
• What are the restraining factors in the Plastic Recycling market?
• Who are the key players of the Plastic Recycling market?

Key offerings:
• Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
• Market Segmentation: A detailed analysis by Plastic Recycling
• Landscape- Leading key players and other prominent key players.

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