Plastic Recycling Market Size, Share, Analysis and Forecast, 2030 | ChemAnalyst

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Plastic Recycling Market Size, Share, Analysis and Forecast, 2030 | ChemAnalyst

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Plastic Recycling Market stood at 53.1 Million Tonnes in 2021 and is forecast to reach 85.6 Million Tonnes by 2030, growing at a healthy CAGR of 5.51% until 2030. Plastic Recycling Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Type, Distribution Channel, Regional Demand, 2015-2030 – PowerPoint PPT presentation

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Title: Plastic Recycling Market Size, Share, Analysis and Forecast, 2030 | ChemAnalyst


1
Plastic Recycling Market Analysis Plant
Capacity, Production, Operating Efficiency,
Demand Supply, End-User Industries, Type,
Distribution Channel, Regional Demand, 2015-2030
According to the ChemAnalyst report, "Plastic
Recycling Market Analysis Plant Capacity,
Location, Production, Operating Efficiency,
Demand Supply, End-User Industries, Type,
Distribution Channel, Regional Demand,
2015-2030", the Plastic Recycling market
witnessed a demand of around 53.1 million tonnes
globally in 2021, and is projected to grow with
a CAGR of 5.51 until 2030 owing to its rising
applications in key end-use sectors such as
Packaging, Buildings Construction, Textile,
Automotive, Electrical Electronics,
Others. The plastic recycling market is expected
to grow significantly in the next five to ten
years, particularly in response to increased
demand from regulators and consumers. By 2030,
the expected global capacity will grow to 80
million tonnes. The recycling plastic market is
highly fragmented, with many regional players
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operating. The number of unorganized companies in
the market is comparatively very larger than
established and registered companies. The rise in
urban population, rapid plastic waste generation,
and growing concern about environmental
pollution have shifted the focus more on plastic
recycling rather than burning and using it as a
fuel. In 2021, nearly a quarter of plastic was
recycled, while the rest were discarded or
incinerated. The method could assist in
addressing the issue of plastic waste in the
environment by recycling plastic trash back into
raw materials that can be utilized to create
plastic and other useful products. Chemical
technologies are being developed which could
transform plastics recycling and reduce the
amount going to landfillsbut these innovations
alone are not enough to accelerate recycling
rates. Read Full Report https//www.chemanalyst.c
om/industry-report/plastic- recycling-market-511
First, plastic waste is gathered from our
residences, places of business, and neighborhood
recycling facilities. After that, they are
delivered to MRFs or PRFs, which remove plastic
from other materials or classify plastic
according to kind. To differentiate between
various types of plastics, these facilities
employ sorting tools like optical sorters. The
plastic is then taken to a recycling facility,
where it is cleaned, crushed, and further
sorted. A new batch of recycled plastic pellets
is created by melting and extruding the plastic.
For application in new products, these pellets
are sold. The increase in plastic recycling has
ramped up the reduction level of CO2 atmospheric
emissions around the globe. The continent is
expected to generate significant demand for
plastic recycling in the coming years. Also, the
growing concern for environmental pollution from
plastic disposal is expected to spur the need to
recycle plastic waste, which eliminates the need
to manufacture various plastic-based materials,
containers, etc., from scratch, which saves a lot
of energy. Plastic Recycling spans many end-use
markets. In the packaging industry, recycled
plastics find a wide range of applications in
food and non-food containers, personal care
products, beverage bottles, film sheets,
household care products, and many
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others. Some of the significant recycled plastics
used in packaging applications are polypropylene
(PP), polyethylene (PE), polyethylene
terephthalate (PET), and polystyrene
(PS). Different types of plastics, such as
Plastic containers, Plastic wraps Packaging,
Plastic Bottles Caps, Foam Packaging, etc., are
made into different items when recycled. Hard
Plastics are recycled into different products,
such as milk jugs, plastic lumber, picnic
tables, plastic lawn furniture, plastic dustbins,
and many more. Thins plastics forms plastic
lumbers, having applications in making park
benches, plastic furniture, and fences. Plastic
Bottles are recycled to make many new items.
Items like clothing (t-shirts, jackets,
sweaters) for making insulated sleeping bags can
be used for carpeting and making more plastic
bottles. When recycled, plastic bottle caps get
converted into car batteries, gardening
equipment, storage containers, shopping bags,
ropes, yarn, and more. Foam packaging converts to
plastic picture frames, insulation, and new foam
packaging. Plastic packaging is the best choice
for storing and transporting delicate things like
electrical equipment, consumer goods, medical
supplies, and chemical products due to its
superior shock-absorbing qualities. Furthermore,
the features of polyethylene terephthalate,
polyethylene, and polystyrenes, such as superior
moisture resistance and thermal insulation, aid
in preserving perishable products like seafood
and fruits and vegetables. Manufacturers are
forced to use recycled plastics for packaging due
to consumer preferences for eco-friendly
packaging and growing landfill problems. It is
anticipated that this will increase regional
demand for plastic recycling. Over the projected
period, it is anticipated that the COVID-19
pandemic's influence on the packaging industry
will remain moderate. With a large population,
Asia Pacific Region has the highest share of the
world's plastic recycling demand., having a
consumption of more than 55 in the region.
China, Japan, Australia, India are the leading
markets in the region, and further growing
development projects are driving the market in
the Asia Pacific region. The Plastic Recycling
market is expected to increase through 2030,
fueled by the ongoing concerns of sustainability
and to reduce environmental pollution and
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carbon footprint around the globe supported by
government regulations. Europe North America
region holds the second third largest share of
Plastic Recycling in demand. Key players in the
Plastic Recycling market globally include
Masotina S.p.A, I.blu - Gruppo iren, Montello
S.p.A., The Alba Group., GT Recycling, STF Group,
Jayplas., Indorama Ventures Sustainable
Solutions LLC, Viridor Polymer Recycling Limited,
NPP "Polyplastic, Hubert Eing Kunststoffverwertun
g GmbH, Monoworld Recycling Ltd., Metro Plastic,
Clean Tech U.K. Ltd, OOO "Fantastik Plastik," and
Others. "Plastic Recycling includes polymers such
as PET, PE, PP, PVC, PS others are employed
in various End-User industries. Hence, its wide
range of applications is projected to fuel the
Plastic Recycling market growth in the forecast
period. Fast- growing industries such as
Packaging, Buildings Construction, Textile,
Automotive, Electrical Electronics, and others
utilize the material in their various stages of
the process. In addition to the benefits of using
recycled plastics aids in lower energy
consumption, factors like growing applications of
recycled plastics are likely to fuel the demand
for plastic recycling in the upcoming years. The
market demand is anticipated to be fueled by
rising government regulations and policies
regulating the usage of single-use plastics in
various nations, as well as the increase in
investment in the development of new technology
leading to improved energy efficiency over the
forecast period and offering various openings for
manufacturers to expand their existing
capacities and fill the demand-supply gap in the
future." said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based
global management consulting firm promoting
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