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Global Post-Consumer Recycled Plastic Market is projected to grow at a CAGR of 9.0% By 2031: Visiongain Research Inc
Visiongain has published a new report entitled the Post-Consumer Recycled Plastic Market Report 2021-2031: Forecasts by Category (Bottles & Films Plastics, Non-Bottle Rigid Plastics), by Processing (Mechanical, Chemical, Biological), by Application (Packaging, Building & Construction, Automotive, Electronics, Other), by Polymer Type (Polypropylene (PP), Low-Density Polyethylene (LDPE), High-Density Polyethylene (HDPE), Polyethylene Terephthalate (PET), PolyVinyl Chloride (PVC), Other), by Service Collection & Transportation, Recycling, Incineration, Landfill) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
The global post-consumer recycled plastic market was valued at US$14087 million in 2020 and is projected to grow at a CAGR of 9.0% during the forecast period 2021-2031. In order to implement appropriate sorting mechanisms, manufacturers are identifying new infrastructure for segregating and collecting mixed plastics at recovery plants. The number of materials recovered at these facilities is directly proportional to the effectiveness of the selecting procedure.
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How has COVID-19 had a significant negative impact on the Post-Consumer Recycled Plastic Market?
The epidemic of corona virus has created global commercial disturbance. The World Trade Organization and governments of the United Nations have established temporary trade measures, according to the International Trade Center, limiting exports and liberalizing imports for crucial medical devices and supplies. These products are made of plastic and plastic materials. Some of the primary sources of U.S. imports of plastics including China and Vietnam have implemented limits on temporary commerce.
The COVID-19 system has suffered from plastic recycling, just like large oil companies invest in the production of new plastics by hundreds of billions. These investments exceed the industry's expenditure on plastic trash enormously. The pandemic of coronavirus has caused plastic rush. The demand for facial shields, gloves, taking-away food containers and online shopping bubble wrap has risen from Wuhan to New York. As the bulk of this is not recyclable, the garbage does not. There is a different result, however. The epidemic has exacerbated a price battle between recycled and new oil-producing plastics. It’s a war recycler worldwide are losing, price data and interviews with more than two dozen businesses across five continents show. 88 nations have implemented export restrictions and prohibitions on products including equipment for personal protection — masks, gloves — pharmaceuticals, hand sanitizers, food and other products. South Korea for example, with effect April 14, 2020, is restricting mask exports. Simultaneously, from April 14, 2020, to June 30, 2020, it has waived import taxes for masks.
How this Report Will Benefit you?
Visiongain’s 600+ page report provides 410 tables and 402 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global post-consumer recycled plastic market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Post-Consumer Recycled Plastic. Get the financial analysis of the overall market and different segments including category, processing, application, service and capture higher market share. We believe that high opportunity remains in this fast-growing post-consumer recycled plastic market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximize the productivity of the company.
What are the current market drivers?
Reduced Environmental Impact Through Plastic Recycling
Recycled resins have appealing technical features and can be used in a variety of applications. It has nearly as many applications as raw plastic: bottles, fabrics, packaging, automobile, household goods, construction, and so on. Around 10% of the world's plastic demand is met by recycled plastics. However, other applications are more difficult to handle due to technical or regulatory constraints. Food-grade certification, for example, necessitates a feedstock with extremely high traceability. It's also tough to replace certain plastics that can sustain extremely high pressures with 100 percent recycled resins. Remember that in the past, users of plastics would purchase recycled plastic since it was less expensive than virgin plastic.
Rising the use of recycled products to produce packaging material
There are numerous advantages to employing recycled plastics in today's eco-friendly climate, both for business and for the environment. Can increase the company's and goods' economic returns and establish a positive image by engaging in sustainable initiatives. One tonne of recycled plastic saves 5,774 kilowatt hours of energy, 16.3 barrels of oil, 98 million BTUs of energy, and 30 cubic yards of landfill space. The plastic does not need to be made over and over, resulting in more pollution. Recycling is the most effective technique to reduce the volume of waste that accumulates in landfills, which is becoming increasingly problematic. The amount of oil utilized in the production of plastic is lowered. Manufacturing-related energy consumption is lowered. CO2 emissions are lowered as a result of the product. Recycling plastics keeps them out of landfills and allows them to be reused in the creation of new products. A tonne of plastic recycled saves 7.4 cubic yards of landfill space.
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Where are the market opportunities?
Rising Demand for Plastic Waste Management from Emerging Economies
The plastic market is quickly developing due to its unique characteristics and wide range of uses. Plastic waste, which is non-biodegradable and produces significant greenhouse gas emissions, is becoming more popular, creating a huge environmental hazard. The United States is a major generator of plastic waste around the world. The country's plastic recycling rate is quite low when compared to the country's entire plastic garbage production. The majority of the plastic waste produced in the United States is sent to countries like China, Hong Kong, Ecuador, Colombia, Indonesia, Vietnam, and Thailand, where it is recycled, processed for energy, or dumped in landfills.
Opportunities for the chemical industry
The polymer chains that make up plastic have a lot of embodied energy in them. This is an energy source that has mainly gone unexplored to date. Recycling rates in the United States remain low; burning is the most established technique of decreasing plastic trash, although it is often costlier and environmentally dangerous than landfilling. Although mixed plastics can be burned for energy, this process frequently produces carcinogenic compounds and pollutes the environment. As a result, only 12% of garbage in the United States is burned. Furthermore, incineration falls short of realizing the full potential of these polymers.
Competitive Landscape
The major players operating in the post consumer recycled plastic market are Veolia Environnement SA, Suez Environnement, Waste Management, Inc, Republic Services, Inc, Stericycle Inc, Waste Connections, Clean Harbors Inc, Biffa PLC, DS Smith plc, Mondi PLC, Berry Global Group Inc, Huhtamaki Oyj, Sealed Air Corp, Sonoco Products Co, Amcor PLC, Smurfit Kappa Group Plc, Coveris Group, Genpak LLC, Placon Corporation, Eco-Products Inc., These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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With our newly report title, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the post-consumer recycled plastic market and leading companies. You will find data, trends and predictions.
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About Visiongain
Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports mean that you can have a bespoke piece of market intelligence customized to your very own business needs.
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