Southeast Asia Recycled Polyvinyl Chloride Market Size, Share & Trends Analysis Report By Product (Post-consumer Recycled PVC, Post-industrial Recycled PVC), By Application, By Country, And Segment Forecasts, 2022 - 2030
New York, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Southeast Asia Recycled Polyvinyl Chloride Market Size, Share & Trends Analysis Report By Product, By Application, By Country And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06318476/?utm_source=GNW
Southeast Asia Recycled Polyvinyl Chloride Market Growth & Trends
The Southeast Asia recycled polyvinyl chloride market size is expected to reach USD 563.15 million by 2030. The market is anticipated to expand at a CAGR of 4.9% from 2022 to 2030. Increasing penetration for building & construction, packaging, electrical & electronics, and automotive applications coupled with rising infrastructure spending, particularly in the Asian & Southeast Asian region is expected to remain a key driving factor for recycled polyvinyl chloride (PVC) across Southeast Asia over the forecast period.
Higher cost efficiency and easier availability of conventional polyvinyl chloride than recycled polyvinyl chloride are expected to remain the key challenges for market participants. Furthermore, the production of recycled polyvinyl chloride requires specialized machinery and equipment and most importantly polyvinyl chloride waste collection services.
Post - consumer recycled PVC emerged as the leading raw material in terms of market share in 2021. Increasing demand for consumer electronics followed by the rise in disposable income of the middle - class population is anticipated to derive the demand for post - consumer recycled PVC across Southeast Asia.
According to the World Bank Group study conducted in 2021, more than 75% of recyclable plastics in the Philippines, Thailand, and Malaysia are wasted. This represents an untapped business opportunity for companies offering recycled polyvinyl chloride and other recycled plastics in these countries.
In addition, the joint efforts by the Incubation Network (comprising plastic end - user companies, government organizations, and plastic resins manufacturers), Alliance to End Plastic Waste, and Global Plastic Action Partnership to tackle the plastic waste management problem in Southeast Asia can create more growth opportunities for the recycled PVC market.
For instance, in, June 2022 Plastic Waste to Value Southeast Asia Challenge was launched by Alliance to End Plastic Waste, Global Plastic Action Partnership, and The Incubation Network which focuses on developing plastic recycling and upcycling projects in Vietnam, Thailand, and the Philippines.
During the COVID - 19 pandemic, Southeast Asia along with the rest of the regions witnessed a decrease in plastic waste collection due to the implementation of lockdowns to contain the spread of the virus.Furthermore, the recycling units were brought to a halt which further brought a decline in the recycling process across the region.
Hence, the recycled PVC market across Southeast Asia witnessed a significant decline.
Southeast Asia Recycled Polyvinyl Chloride Market Report Highlights
• Singapore dominated the overall Southeast Asia recycled PVC market. The Government of Singapore aims at increasing the utilization percentage of recycled PVC in various applications in the country. This factor is likely to drive market growth
• Post - industrial recycled PVC was estimated to be the largest product segment in 2021 and is also anticipated to dominate the market over the forecast period
• The growing demand for PVC in healthcare, containers, and pipes manufacturing applications is expected to generate PVC scraps during manufacturing and finishing operations which can fuel the demand for post - industrial recycled polyvinyl chloride market over the forecast period
• In January 2022, SUEZ Water Technologies & Solutions was awarded a contract by VinyThai Public Company Limited to design and build water treatment, wastewater recycle, and waste recovery systems. The package will consist of a filter press for biological waste and polyvinyl chloride (PVC) waste, ZeeWeed - 500D Membrane Bioreactor, PROFlex - Brackish Water Reverse Osmosis system, and SUEZ’s Poseidon - Dissolved Air Flotation System. Since VinyThai Public Company Limited is involved in the manufacturing of PVC resins, the recycling technology of SUEZ can help the company in the manufacturing of recycled PVC
Read the full report: https://www.reportlinker.com/p06318476/?utm_source=GNW
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