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

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• 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
  streams.
• 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
  study.
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• Increasing Consumption of Recycled Plastics in
  the Textile Industry is Fuelling the Market
  Globally
• 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
  textiles.
• 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)
  certification.
• 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.

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• 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
2022E
2028F
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
  companies.

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• 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
  products.
• 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.
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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
fabric.
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.
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• 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
  market.
• 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
  countries.
• 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
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• 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
  Segments
• 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

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• Recycled Plastics Manufacturers
• Polyethylene Plastic Product Type Suppliers
• Polyethylene Terephthalate Plastic Product Type
  Suppliers
• 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
  Electronics
• Ministries and Departments of Construction
  Materials
• Ministries and Departments of Chemicals
• Ministries and Departments of Petrochemicals
• Importers and Distributors of Recycled Plastics