Global Plastic Recycling market is valued approximately USD 39401 Million in 2018 and is anticipated to grow with a growth rate of more than 6.40% over the forecast period 2019-2026. Recycled plastic is a process where scrap of waste plastic is recovered and reprocessed into useful products as most of plastic things are non-biodegradable. Therefore, in order to reduce wasteful non-biodegradable plastic and protecting environmental resource from pollution of plastics such process is initiated across the globe. The recycling of plastics is supported by various government initiatives across the globe that will anticipated in the growth of market over the forecast years. For instance: the European Union plans announced a tax on plastic bags and packaging in order to curb ocean pollution. The strategy stated that the all packaging products should be recyclable by 2030 and must recycle 55% of plastic packaging. Similarly, in the US, The Internal Revenue Service (IRS) gives manufacturers of recycled products, a depreciation credit for recycling. Moreover, several states in the US offers some type of tax incentives or credits, to promote recycling market. Moreover, Negative Environmental impact of plastic disposal is expected to drive the growth of market over the forecast years. As its disposal in land and ocean water may cause adverse effect in the productivity of land and can harm marine organisms. However, stringent competition from virgin plastics and ban on import of waste or scrape plastics in China are some major factors that can hamper the market growth over the upcoming years.
The regional analysis of global Plastic Recycling market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe accounts for the largest share in the global plastic recycling market due to the presence of stringent government regulation in the region. Whereas, Asia Pacific is the fastest growing region in the market due to the rapid growth in pollution and continuous emergence of adverse effects from usage of plastic on environment in the region.
Market player included in this report are:
B. Schoenberg & Co.
Green Line Polymers
Clear Path Recycling
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type :
Polyethylene Terephthalate (PET)
Rigid Plastics & Foams
By Recycling Method:
By End-use Industries:
Building & construction
Electric & Electronics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Plastic Recycling Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers