March 30, 2020

Plastic Recycling Market: Rising environment concerns among people worldwide will enhance the demand for Market

The latest market report published by Credence Research, Inc. Plastic Recycling Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” 

The plastic recycling market was valued at US$ 41.73 Bn in 2018 and expected to grow at a CAGR of 6.6% during the forecast period from 2019 to 2027.

Market Insights:

Access Free Sample Copy of Research Report @ https://www.credenceresearch.com/sample-request/60176

“Rising environment concerns among people worldwide will enhance the demand for Plastic Recycling Market”

Growing adoption of recycled products and increased government initiatives for plastic waste reduction during the 2019-2027 forecast period; Globally, rising environmental concerns are anticipated for effective waste management and sustainable development to boost market growth. In 2018 Asia Pacific has the highest share in the market for plastic recycling.

Plastic Recycling Market

In 2018, the global plastic recycle volume was 29,438.0 kilotons. The growing use of recycled plastic in the packaging industry and rapid technological advancement in the industry expected to drive the market in years to come. Growing awareness for plastic recycling is another prominent factor in driving market growth over the upcoming years. The rapidly growing use of plastic to make denim clothes projected to enhance the market growth. For instance, in 2012, Levi’s was the first company to introduce denim jeans made from plastic bottles and trays. The rising need for better recycling technologies is anticipated to drive the market growth throughout the forecast period.

The plastic recycling market has the presence of numerous global and regional players. Acquisition, partnerships and collaborations anticipated to be the major strategies followed by the market players to expand their market share and geographic presence.

Industrial Developments:

• In April 2019, MOL Group announced the acquisition of Aurora by signing a sales- purchase agreement. With the acquisition of Aurora, MOL Group will enter into the recycle plastic compounding which expected to develop their petrochemical portfolio.

Access Free Sample Copy of Research Report @ https://www.credenceresearch.com/sample-request/60176

Key Market Movements:

• Globally, the plastic recycling market is expanding at a CAGR of 6.6% in terms of revenue and 8.8% in terms of volume for the projected period from 2019 to 2027
• In 2018, Asia Pacific has the highest share in the plastic recycling market in terms of value and volume owing to highest share in plastic waste generation and high-volume of plastic waste import in the region. Developing countries of Asia Pacific such as India, Indonesia, China, Malaysia, and others are major contributors to the region’s growth.
• Europe expected to be the fastest-growing region in the plastic recycling market owing to rising government initiatives and enhancement of domestic recycling facilities in the region.
• Based on the material, polyethylene terephthalate (PET) and high-density polyethylene (HDPE) have the largest share in 2018. A rapid surge in the consumption of the aforementioned segments for making packaging materials is the major factor for the dominance of the segments.
• Mergers & acquisitions are expected to be the key strategy by the market players

List of Companies Covered:

• MBA Polymers, Inc.
• MOL Group
• Plasgran Ltd
• Novolex
• Phoenix Technologies International LLC
• Vikoz Enterprises, Inc.
• Plastic Recycling, Inc.
• Terracycle US, Inc.
• KW Plastics
• DS Smith Plc
• PETCO
• Waste Connections, Inc.
• Custom Polymers, Inc.
• CarbonLITE Industries
• Envision Plastics
• Kuusakoski Group Oy

Browse the full report at https://www.credenceresearch.com/report/plastic-recycling-market

About Us:

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Contact:

Credence Research Inc

Name: Chris Smith (Global Sales Manager)

E-mail: sales@credenceresearch.com

Ph: 1-800-361-8290

Web:  https://www.credenceresearch.com  

Leave a Reply

Your email address will not be published. Required fields are marked *