The plastic recycling market size was significantly robust in 2020 and is expected to register steady revenue CAGR during the forecast period. Recycling plastic garbage is a difficult task for which no viable solution has been demonstrated to be both, effective and environmentally friendly. Various recycling methods have been shown to be as costly as plastic, inefficient in terms of energy use, and as detrimental to the environment as plastic itself.
The global population continues to grow at an exponential rate, along with commercial and industrial activities. This has aggravated the issue of recycling plastic garbage, which accounts for a significant fraction of total waste generated on a daily basis from a variety of sources. Thus, continuous research activities are being undertaken across the globe with an aim of finding an effective method of recycling plastic waste or gaining something beneficial from the process.
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Top Players in the Global Plastic Recycling Market:
REMONDIS SE Co. KG, Biffa, Stericycle, Republic Services, Inc., WM Intellectual Property Holdings, L.L.C., Veolia, Shell International B.V. Waste Connections, CLEAN HARBORS, INC., and Covestro AG.
Plastic is a useful and long-lasting substance. It has replaced various materials, including metal, concrete, and wood, because it is lightweight, corrosion resistant, cost effective, and aesthetically pleasing.
Revenue from the global plastic packaging market is expected to grow at a significantly fast revenue growth rate during the forecast period. Plastic trash output is expected to increase with rapidly growing plastic packaging industry. The plastic packaging has a short shelf life, particularly in the food and beverage industry, due to which, large volumes of plastic waste is produced. The efficient disposal of generated garbage is critical. Recycling is the most cost-effective and environmentally responsible way to use plastic, as disposing plastics in landfills is harmful to the environment.
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Market segmentation based on Product Type Outlook:
- Polyethylene
- Polyethylene Terephthalate
- Polypropylene
- Others
Source Type Outlook:
- Plastic Bottles
- Plastic Sheets
- Polymer Foam
- Others
Application Outlook:
- Building Construction
- Packaging
- Electrical Electronics
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Plastic Recycling market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Plastic Recycling market?
- Which regional market is expected to lead in terms of revenue share in the global Plastic Recycling market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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