Global-Plastic-Recycling-Market

The factors such as increasing use of plastic in the packaging industry because of their performance because of their performance, durability and cost effectiveness, government support for recycling the plastic and setting up of a plastic recycling fund for the purpose of enabling and removing of the plastic waste has been driving the growth of the plastic recycling market during the forecast period.

New York, February2022: Axiom Market Research & Consulting™ added a report on Plastic Recycling Market which includes study on type, recycling method, application, and geography. Plastic Recycling Market was projected to grow at a CAGR of 7.00 % for the forecast period 2022 to 2028. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the Plastic Recycling Market.

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The report analyses the plastic recycling market based on type, recycling method, application, and geography. By type, the plastic recycling market is segmented into polyethylene terephthalate (PET), polyethylene, polypropylene, polyvinyl chloride (PVC), and polystyrene. By recycling method, the plastic recycling market mechanical and chemical. By application, the plastic recycling market is segmented into packaging, building & construction, and automotive. Geographically, the plastic recycling market is studied for the regions including North America, Europe, Asia Pacific, and Rest of the World.

The key players in the plastic recycling market are Envision Plastics, Custom Polymers, Inc., Plastic Recycling Inc., UltrePET, LLC, KW Plastics, Inc., Green-O-Tech India, CarbonLITE Industries, Seraphim Plastics, MBA Polymers Inc., Kuusakoski Group Oy, Waste Connections Inc., Evolve Polymers Ltd., Clear Path Recycling and CarbonLITE Industries among others.

Regional Trends of Plastic Recycling Market

Based on the geography, the plastic recycling market is studied for the regions including North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is estimated to witness fast growth in the plastic recycling market during the forecast period. The factors such as rapid economic development and various policies and regulations for supporting the environmental protection and waste management, along with the increasing population across the globe had been driving the growth of the market in the region of Asia Pacific. China has been a major country in the imports for the waste plastics, and it receives around 56% of the global plastic waste imports.

Plastic Recycling Market Segmentation Highlights

  • The polyethylene terephthalate (PET) type segment is expected to lead the plastic recycling market during the forecast period. The increasing application the polyethylene terephthalate (PET) in the packaging, construction and electronics has been propelling the growth of the segment in the market.
  • Mechanical recycling method has dominated the plastic recycling market during the forecast period. Due to recovering plastics by processing through grinding, washing, separating, drying, re-granulating and compounding has been driving the growth of the segment in the market during the forecast period.
  • Packaging application holds significant share in the plastic recycling market during the forecast period. The Intrinsic properties providing the quality in the maintenance and distribution system of the products has been driving the growth of the segment in the market.
  • Asia Pacific is estimated to witness fast growth in the plastic recycling market during the forecast period. The rapid economic development and various policies and regulations for supporting protection and waste management has been driving the growth of the market in the region.

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Research Objectives of Plastic Recycling Market Report:

  • Analysing the outlook of the plastic recycling market with the recent trends and Porter’s five forces analysis
  • Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period
  • Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects
  • Country-level analysis, integrating the demand and supply forces that are influencing the growth of the plastic recycling market
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years
  • Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players

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