Plastic Recycling Market to Surpass $ 110 Billion by 2025
Rising awareness about the pollution caused by plastics and government initiatives to reduce plastic waste is driving the market through the forecast period.
According to TechSci Research report, “Global Plastic Recycling Market By Type, By Source, By Method, By End-User, By Company, By Region, Competition, Forecast & Opportunities, 2025”, the global plastic recycling market is expected to grow at a steady CAGR during the forecast period and surpass $ 110 billion by 2025. Growing environmental concerns and rising adoption of recycled products are fueling demand for plastic recycling, globally. Polyethylene segment has the largest share in the global plastic recycling market due to its major use in packaging industry. Growth in packaging industry on account of rising technological advancements in food and beverage industry is expected to boost plastic recycling market in the coming years. Other sectors which are the major end users of recycled plastics include construction, automotive, textiles and electrical and electronics.
Browse 161 market data Figures and Tables spread through 230 Pages and an in-depth TOC on "Global Plastic Recycling Market"
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Global plastic recycling market is segmented on the basis of type, method, end use, source and region. On the basis of end user segmentation, the market is categorized into Packaging, Building & Construction, Textile, Automotive, Electrical & Electronics and Others. Packaging segment is expected to dominate the market until 2025 owing to the rising utility in food and beverage industry. Among all the regional markets, Asia-Pacific dominated the global plastic recycling market until 2019. Owing to major plastic industries in China and South East Asian countries, Asia-Pacific is expected to continue its market dominance during the forecast period.
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Some of the leading players operating in the global plastic recycling market include Veolia Environment SA, Suez SA, Republic Services Inc., Waste Connection, B&J Par, KW Plastics, BASF SE, Borealis AG, B. Schoenberg & Co., Clear Path Recycling LLC, Dupoint Teijin Films, Custom Polymers Inc. and others. “Global plastic recycling market is expected to grow at a steady rate in the coming five years. Rising utility of polyethylene due to growing global packaging industry has and will continue to lead to significant growth in the market over the next five years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Plastic Recycling Market By Type, By Source, By Method, By End-User, By Company, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global plastic recycling market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global plastic recycling market.
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Source : TechSci Research