Recycled Plastics Market is Estimated to be Worth US$30.2 Bn by 2026

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Global Recycled Plastics Market Set Expand Amidst
Increased Adoption of Recycled Plastics Products
and Favorable Waste Management Policies Growing
consumer preference for recycled plastic
products, fast-developing plastic waste
management infrastructure, and stronger
public-private commitments to curb plastic
pollution have positioned the global recycled
plastics market on a steep growth trajectory.
Today, consumers, manufacturers, and policy
makers are rapidly advancing towards more
sustainable practices in waste management.
Seeing the hazardous environmental effects of
untreated industrial waste, illegal dumping of
plastics in landfills, uncontrolled disposal of
plastics in oceans, and rampant use of virgin
plastic in virtually every product, corporates
and governments across the world have
accelerated their drive to robust plastic
recycling initiatives. Check Complete Report
Details of market _at_ https//www.fairfieldmarketre
search.com/report/recycled-plastics-market Over
the coming decade, global revenues from plastics
recycling are expected to increase by about 30
annually. Driven by favorable regulations and
demand for recycled plastic products, the global
recycled plastics market is set to be worth
US30.2 Bn in 2026, rising from a value of
US19.5 Bn in 2019. Packaging, Automotive,
Electronics Key Segment in Terms of End-Use
Industry During the forecast period, the
packaging industry will account for over 60 of
the total market share of the global recycled
plastics market. This is primarily due to the
growing emphasis on sustainable packaging and
the circular economy model. Within packaging, the
food and beverages sector is the key growth
drive. In recent years, technological
developments have made recycled resins suitable
for use in food applications a factor that is
fueling the demand for recycled plastics in the
food and beverages sector. Consequently, leading
food and beverages companies have pledged to
significantly increase the usage of recycled
plastics and compostable packaging in their
supply chains and facilities. Other industries
witnessing an increased demand for recycled
plastics include the automotive industry and the
electrical electronics industry. These
industries are poised to observe a surge in
demand for auto parts, electric and electronic
equipment, ICT products, and auto components made
from recycled plastics. Moreover, robust green
initiatives and investments in RD are projected
to aid partnerships across the business
landscape of the global recycled plastics market.
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Despite the sound growth opportunities in the
recycled plastics market, concerns around cost
and strict competition with first-use plastics in
terms of performance are expected to be major
obstacles hampering growth across the market.
Moreover, improper waste management
infrastructure, coupled with the ban on the
import of certain waste plastic material in some
economies, can further restrict rapid market
growth in the near future. REPORT SCOPE
SEGMENTATION
REPORT FEATURES DETAILS
Product Coverage PET HDPE PP LDPE Misc. (PVC, PS, PUR, etc.)
Application Coverage Food Packaging Non-food Packaging Construction Automotive Textile Misc. (Electronics, Agriculture, etc.)
Geographic Coverage North America Europe Asia Pacific Latin America Middle East Africa
Leading Companies Indorama Ventures Public Company Limited Covestro AG Borealis AG
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LyondellBasell Industries N.V. Phoenix Technologies International, LLC UltrePET, LLC. Extrupet Group (Pty) Ltd KW Plastics Envision Plastics ALPLA Group
Report Highlights Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Product-, Application-, Region-, Country-wise Trends Analysis, COVID-19 Impact Analysis (Demand and Supply Chain), Key Trends
North America to Emerge as the Regional Market
Leader Across the Recycled Plastics Market The
fastest-growing region in the global recycled
plastic market is North America due to robust
plastic recycling programs, relentless green
innovation, and presence of global corporations
in this region. By 2026, Asia Pacific will hold
more than half of the demand for recycled
plastics due to the consistent demand for
recycled plastics in the packaging, construction,
and textile industries of China, India, and
Southeast Asia. Further, innovation and greater
consumer awareness are expected to substantially
improve the plastic recycling rates in the EU by
2030. Prominent market players include Custom
Polymers, Clear Path Recycling, Plastipak
Holdings, Veolia, KW Plastics, Suez, B.
Schoenberg Co., Green Line Polymers, BB
Plastics, and Jayplas. Request a Sample Copy of
this Report _at_ https//www.fairfieldmarketresearch
.com/report/recycled-plastics-market/request-sampl
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