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

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Global Recycled Plastics Market Propelled by
Government Initiatives
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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
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Report Description and Highlights
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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.
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Global Recycled Plastics Market
Report Description
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Report Description and Highlights
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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.
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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.imarcgr
oup.com/request?typereportid841flagB 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
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Report Description and Highlights
Report Description

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