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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Recycled Plastics Market Analysis
The demand for plastic materials is growing at a fast pace across several industries like packaging, food and beverage, automotive, and healthcare. Increasing population, rising disposable incomes, and continuous product innovations are the prime factors attributed to the development of these industries. The robust growth of recycled plastics in the flexible packaging segment, coupled with the rising capital investments in research and development activities in flexible packaging, is also creating ample opportunities for vendors in the recycled plastics market, thus, significantly driving the industry growth. Governments are also enforcing waste disposal taxes, landfill taxes, recycling credit schemes, and deposit refund systems to promote effective waste management. These measures by governments in various economies are further expected to facilitate the growth of the recycled plastics market.
Recycled Plastics Market Report Snapshots
Recycled Plastics Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 44.71 billion.
The market is estimated to grow at a CAGR of 6.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 76.17 billion by 2032.
The major drivers of the market include the thriving packaging sector, rapid urbanisation, expansion of various end use industries, rising investments in research and development activities, and the advancements in recycling technology.
The introduction of favourable government initiatives aimed at encouraging plastic recycling and increasing investments in flexible packaging are the key trends guiding the market.
The major regional markets of recycled plastics include Europe, North America, the Middle East and Africa, Latin America, and the Asia Pacific.
Polyethylene terephthalate (PET), high density polyethylene (HDPE), polypropylene, and low density polyethylene (LDPE), among others, are the several plastic types considered in the market report.
The major raw materials considered in the market report are plastic bottles, plastic films, rigid plastic and foam, and fibres, among others.
The significant applications of recycled plastics are non-food contact packaging, food contact packaging, construction, and automotive, among others.
The major market players include B. Schoenberg & Co., Inc, UltrePET, LLC, and Carbonlite Inc., among others.
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