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Global Recycled Plastics Market, Global Recycled Plastics Industry - Ken Research


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Title: Global Recycled Plastics Market, Global Recycled Plastics Industry - Ken Research

  • 5 Key Insights on US 75 Bn Opportunity in Global
    Recycled Plastics Market
  • Driven by the rising consumption from
    various end-user industries such as
    packaging, automotive, electronics, and
    others, Global Recycled Plastics Market is
    forecasted to Cross US75 Bn by 2028 says Ken
    Research Study.
  • Plastic recycling is the process of
    recovering plastic waste and reprocessing
    the material into useful products. Plastic
    waste is collected from landfills and other
    sources and sent to recycling centers, where it
    is typically separated into different types
    of polymers. Polymers are then shredded and
    melted back into polymer pellets. The
    pellets are resold to be used in new
    products across various end-user industries.
    Recycling and other collection routes help reduce
    environmental impact and save costs,
    especially in the construction, manufacturing,
    and retail sectors. Most plastics are not
    biodegradable, so recycling is part of a
    global effort to reduce plastics in waste
  • According to Ken Research estimates, the
    Global Recycled Plastics Market which
    grew from around US 30 Bn in 2017 to nearly US
    45 Bn in 2022 is expected to grow further into
    a more than US 75 Bn opportunity by 2028.
    Ken Research shares 5 key insights on this
    high- opportunity market from its latest research
  • Request For Sample Report
    _at_ https//
    le- report.php?FrmdetailsNTk2MDE5
  • Increasing Consumption of Recycled Plastics in
    the Textile Industry is Fuelling the Market
  • Green clothing refers to fabrics that are
    obtained from sustainable materials like hemp,
    bamboo, or recycled plastic, and, the methods
    used to manufacture these fabrics are highly
    sustainable. A considerable amount of reduction
    in carbon emission is witnessed while using
    recycled plastic fibers as compared to virgin.
    Using products made from recycled plastic bottles
    indirectly helps
  • to create a sustainable living and environment,
    as it helps in the reduction of air, water, and
    land pollution.
  • Owing to this environmental concern, several
    brands in the fashion industry are working
    on creating ways to reduce the environmental
    impact. For instance,
  • The designer brand Gucci is one of the first
    luxury fashion brands to use ECONYL, nylon yarn,
    100 regenerated from recycled fishing nets.
    In 2015, the company shifted from virgin
    plastic to recycled plastic products in its
  • UNIREC, an India-based clothing company,
    makes shirts, blazers, and trousers from
    recycled polyester. Each garment made by
    the company recycles around 12 PET
    (polyethylene terephthalate) bottles. The
    company is recognized with an international,
    full-product standard that tracks and verifies
    the content of recycled materials in a final
    product, Global Recyclable Standard (GRS)
  • Alcis Sports offers a wide range of sports and
    athletic gear made up of recycled plastic. The
    company manufactures sportswear with the
    latest technologies such as dry-tech
    (moisture management), anti-odor, anti-static,
    anti-UV, and light X, keeping lifestyles and
    weather conditions in mind.

  • A California-based clothing company is engaged in
    making recycled polyester from post- consumer
    soda bottles. The company makes its recycled
    polyester fibers from a blend of soda bottles,
    manufacturing waste, and worn-out apparel.
  • Global Recycled Plastics Market Revenue
    Forecast, 2022-2028

USD 75 Bn
USD 45 Bn
Source Ken Research Analysis of Recycled Plasti
cs in Various Industrial as Packaging, Electronic
Components, and
2. Increasing Usage Applications such
  • Automotive Interiors is the Primary Reason
    Driving the Market of Recycled Plastics
  • The packaging industry is one of the major
    sectors employing the usage of recycled
    plastic products. Most of the products used in
    food packaging are made from PET, which is known
    to be the highest recyclable plastic resin type
    among all others. Plastic recycling rates are
    slowly improving in many countries around
    the world and recycled packaging is being
    used widely.
  • Some of the recent developments in the recycling
    plastic market include
  • The Body Shop, a cosmetics company has already
    included recycled plastic in many of its
    products packaging.
  • For instance, in 2020, Nestlé announced an
    investment of up to USD 2 billion to lead the
    shift from virgin plastics to
    food-grade recycled plastics and to
    accelerate the development of innovative
    packaging solutions.
  • Recycled plastic products are also used in the
    electric and electronics industry, where the most
    common type of plastic used is ABS,
    Acrylonitrile Butadiene Styrene. ABS is one
    of the toughest thermoplastic polymers that
    provide a durable solution for heavy-duty
    needs. The environmental concerns arising
    from discarded electronic equipment and
    rising e-waste are being controlled by various

  • For instance, LG Electronics, headquartered
    in Seoul, South Korea, has set a goal to
    use about 600,000 metric tons of recycled plastic
    by 2030. The company says the goal is part of
    LGs larger initiative to create a takeback
    ecosystem for electronic scrap and increase the
    use of post-consumer recycled materials in
    its consumer electronics and home appliance
  • According to Plastics Europe, in 2020,
    European countries including Switzerland,
    Austria, the Netherlands, Germany, and
    Norway implemented landfill restrictions on
    recyclable waste. Switzerland, Austria, and
    the Netherlands have attained their targets
    of zero landfill.
  • In November 2020, SABIC, a Saudi
    Arabia-based Chemicals manufacturing company,
    expanded its existing portfolio of
    polycarbonate resin, Cyloloy PC/ABS, and
    Lexan PC resin containing high levels of
    post-consumer recycled (PCR) plastic.

Europe Consumption of Recycled Plastics in Different End-User Industries, 2020
41 20 17 9 6 4 3 Packaging Building and Automotive Electrical and Household, Agriculture Others Construction Electronics Leisure, Sports
Source PlasticsEurope, Ken Research Analysis
3. Stringent Competition for Recycled
Plastics from Virgin Plastic Products Is
the Major Challenge Faced by The Recycled
Plastics Market Recycled plastics have
strong competition from virgin plastics
in terms of quality and application.
Virgin plastics can be used in many
applications, including food-grade packaging
where the food product comes in direct
contact with the plastic recycled plastics
do not have the same advantage. Recycled
plastics are rarely used in food-grade
packaging applications because of safety
concerns related to their contaminants from their
previous use. Some jurisdictions allow the
use of recycled plastic resin in
combination with virgin resin for food-grade
containers, but the recycled quality cannot
be maintained to the standard required for
food-grade applications. For high-end
products, where the chemical composition of
the plastic has to be specific, only virgin
materials can be used.
4. Packaging End-User Segment Dominates
the Market with the Largest Revenue Share
and will Maintain Dominance during the
Forecast Period The packaging industry is the
largest consumer of recycled plastics, as
different plastic grades are used in food as
well as non-food packaging applications. The
use of recycled plastics for food packaging
has continued in recent years and will
likely increase due to the high price of
crude oil, a feedstock for the petrochemicals
used in the manufacture of plastics, as well as
the recent advances in plastic recycling
technologies that allow improved quality and
safety of post- consumer recycled plastics
intended for food packaging applications. In
2021, Tupperware, a U.S.-based multinational
kitchen and household products manufacturing
company, launched its reusable Eco Straw
manufactured using Eco, circular polymers
made by depolymerizing mixed plastics to produce
high-quality food-grade plastic. PET bottles can
again be recycled into new PET bottles, plastic
sheets and film, and strapping used for shipping.
They are also recycled into polyester fibers and
Global Recycled Plastics Market Revenue Share by
End-User, 2021
Building Construction Packaging Electrical
Electronics Textiles Automotive Others
Source Ken Research Analysis
5. Asia Pacific dominated the Market with
the Majority of the Market Share in
2021 Asia pacific dominated the recycled
plastics market and is expected to continue its
dominance during the forecast period. The
largest share of the region can be
attributed to the rise in demand from various
end-use industries such as packaging, building
construction, electrical electronics, textiles,
automotive, and others.
  • The demand for recycled plastic is rapidly
    increasing in the APAC region owing to the
    rising number of construction projects
    including hospitals, schools, and colleges.
    Moreover, rising government initiatives such
    as Make in India and revised FDI
    policies are enticing core companies to set
    up manufacturing units in the region, which
    is likely to propel the Plastic Recycling
    market during the forecast period.
  • In July 2021, Maruti Suzuki India Ltd. announced
    an investment worth US 2.42 billion in a new
    manufacturing facility in Haryana, India. The
    facility is expected to manufacture 1 million
    units annually. The surge in automobile
    manufacturing is boosting the demand for recycled
    plastics, thereby driving the recycled plastics
  • China is one of the largest consumers of
    polyethylene terephthalate (PET) globally. The
    abundant availability of raw materials and
    low cost of production has been supporting
    the production growth of the engineering
    plastics, such as PET, in the country for
    the past few years.
  • China is the largest base for electronics
    production in the world. Electronic
    products, such as smartphones, TVs, wires,
    cables, portable computing devices, gaming
    systems, and other personal electronic
    devices recorded the highest growth in the
    electronics segment. The country serves not
    only the domestic demand for electronics
    but also exports electronic output to other
  • In March 2020, Chongqing Wankai, a
    China-based company started its new
    polyethylene terephthalate (PET) bottle chip
    plant with a capacity of 600,000 tonnes per year.
    The project has a design capacity of 1.2 million
    tons per year of PET bottle chip, including two
    600,000 tons per year production lines, and the
    total investment involved in the project was USD
    507 Million.

Global Recycled Plastics Market Revenue Share by
Geography, 2021
Asia Pacific North America Europe LAMEA
Source Ken Research Analysis
Request For Sample Report _at_ https//www.kenresearc report.php?FrmdetailsNTk2MDE5
  • Key Topics Covered in the Report
  • Snapshot of Global Recycled Plastics Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Global
    Recycled Plastics Market
  • Historic Growth of Overall Global Recycled
    Plastics Market and Segments
  • Competition Scenario of the Market and Key
    Developments of Competitors
  • Porters 5 Forces Analysis of Global Recycled
    Plastics Industry
  • Overview, Product Offerings, Strengths,
    Weaknesses of Key Competitors
  • Covid-19 Impact on the Overall Global Recycled
    Plastics Market
  • Future Market Forecast and Growth Rates of the
    Total Global Recycled Plastics Market and
  • Market Size of Application / End User Segments
    with Historical CAGR and Future Forecasts
  • Analysis of Global Recycled Plastics Market
  • Major Production/Supply and Consumption/Demand
    Hubs within Each Region
  • Major Country-wise Historic and Future Market
    Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies
    within Each Region
  • Leading Companies Mentioned in the Report

  • Recycled Plastics Manufacturers
  • Polyethylene Plastic Product Type Suppliers
  • Polyethylene Terephthalate Plastic Product Type
  • Polypropylene Plastic Product Type Suppliers
  • Polyvinyl Chloride Plastic Product Type Suppliers
  • Polystyrene Plastic Product Type Suppliers
  • Recycled Plastic Bottles Manufacturers
  • Recycled Plastic Films Manufacturers
  • Recycled Plastic Foam Manufacturers
  • Recycled Plastics Distributors
  • Emerging and Startup Recycled Plastics Companies
    in the Market
  • Different Types of Recycled Plastics Institutes
  • Government Departments of Polymers
  • Ministries and Departments of Electrical
  • Ministries and Departments of Construction
  • Ministries and Departments of Chemicals
  • Ministries and Departments of Petrochemicals
  • Importers and Distributors of Recycled Plastics
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