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.
The Important Elements of the Global Plastic Recycling Market
Growing environmental concerns and rising adoption of recycled products are fueling demand for plastic recycling, globally. The polyethylene segment has the largest share in the global plastic recycling market due to its major use in the packaging industry. Growth in the packaging industry on account of rising technological advancements in the food and beverage industry is expected to boost the 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.
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The 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. The packaging segment is expected to dominate the market until 2025 owing to the rising utility in the 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 the 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 the global plastic recycling market and provided statistics & information on the 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 the global plastic recycling market.
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