Dublin, Jan. 13, 2020 (GLOBE NEWSWIRE) -- The "Recycled Plastics Market By Type, By Application and By Geography - Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global recycled plastics market is expected to grow at a CAGR of 6.8% during the forecast period to reach a value of $66.73 billion by 2025.
Regulatory changes by the European Union and China are expected to lead the market growth in the next five years; to be adopted by the US in later stage. Among applications, bottling is expected to maintain its dominance, while films is expected to witness relatively higher growth.
Market Overview
The boon of plastic turned to bane with the nuisance of irresponsible waste management. While the usage of plastic has increased to more than 300 million tons per year, the recycling of the same, even with dedicated efforts from various stakeholders, has been hovering around 10% of it.
Low crude oil prices, resulting lower virgin polymer prices, have made recycled plastics less attractive. With no significant improvement in waste collection, sorting, and recycling technologies, the market for recycled plastics has faced relative lacklustre in the past five years.
Key Market Insights
Traditionally, the recycled plastic was used in low-value applications wherein contaminated recycled pellets of mixed plastic were used. However, with increased investment in waste collection, sorting, and recycling technologies, it was possible to recycle plastic to near virgin purity, thus opening up the market for high-value applications, competing with virgin polymers. Globally, the US leads the market with the highest per capita consumption and collection of waste plastic, paving the way for the largest recycled plastics market.
On the other hand, the Chinese market has been witnessing sweeping changes driven by regulatory hard hand of banning contaminated plastic import and forcing the domestic recyclers to either redirect their resources towards domestic waste management or abandon the business. It is too early to comment on the results of such changes; however, the change is directed with the aim of developing environment-friendly image for the Chinese chemical sector.
On the third front, the European Union circular economy legislation will push the recycled plastic demand via setting minimum recycled content limits for the plastic packaging industry. The efforts are to create enough demand for recyclers to develop more competitive business opportunities to attract corporate's and pushing technological breakthroughs.
Among applications, bottles has been the leading segment with most of the polyethylene terephthalate (PET) moving across the industrial supply chain. The beverage consumer brands, such as Coca-Cola and PepsiCo, have been taking initiatives to coordinate with recyclers via establishing collection & sorting channels along with creating demand for recycled PET.
Further, the consumer brands with polypropylene (PP) bottles have also been opening up towards packaged bottles with recycled content, enabling a higher contribution from bottles. Films, the second largest segment, are largely used for secondary packaging applications where they do not come in direct contact with consumables.
Competitive Analysis
The competitive scenario is very fragmented, with a large number of players competing in almost all segments. The real competition of the recyclers is not among each other, but with the virgin polymer producers.
Costly waste collection, sorting, and cleaning are the biggest challenges limiting the feedstock availability for plastic recyclers. Increased competitive advantage against virgin plastic is expected to attract more players, creating opportunity for technological development and overall market growth.
A few of the prominent players in the global recycled plastics market are Suez S.A., MBA Polymers, Inc., KW Plastics Recycling, B. Schoenberg & Co., Inc., Waste Management, Inc., Merlin Plastics Supply, Inc., B&B Plastics, and Green Line Polymers among others
Key Topics Covered
1 Executive Summary
1.1 Transforming Europe & Emerging Asia to Challenge Leader North America
1.2 Bottles to Remain Preferential Application Segment
2 Market Positioning
2.1 Industry Snapshot
2.1.1 Industry Overview
2.1.2 Key Trends
2.2 Related Markets
3 Market Outlook
3.1 Introduction
3.1.1 Need for Recycling
3.1.2 Industry Dynamics for Plastic Recycling
3.2 Value Chain Analysis
3.3 Market Segmentation
4 Market Characteristics
4.1 PESTLE Analysis
4.2 Porter's Five Force Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Changing Regulatory Requirements Globally
4.3.1.2 Growing Consumer Awareness & Changing Preferences
4.3.1.3 Technological Advancements Enabling Newer Options
4.3.2 Restraints
4.3.2.1 Costlier Waste Collection and Sorting, Limiting Market Growth
4.3.2.2 Technical Limitations Limiting the Cost-Effective Production for High Value Applications
4.3.3 Opportunities
4.3.3.1 Changing Policies Enabling Higher Potential Market
4.3.3.2 Ballooning R&D Investment With the Entry of Cash-Rich Companies
4.3.4 DRO - Impact Analysis
4.4 Patent Analysis
5 Recycled Plastics Market, By Type
5.1 Overview
5.2 Recycled Polyethylene Terephthalate
5.3 Recycled High-density Polyethylene
5.4 Recycled Low-density Polyethylene
5.5 Recycled Polypropylene
5.6 Recycled Polystyrene
5.7 Recycled Polyvinyl Chloride
6 Recycled Plastics Market, By Application
6.1 Overview
6.2 Bottles
6.3 Films
6.4 Fibers
6.5 Foams
7 Recycled Plastics Market, By Geography
7.1 Overview
7.2 Asia-Pacific
7.3 North America
7.4 Europe
7.5 Middle East & Africa
7.6 Latin America
8 Competitive Landscape
8.1 Competitive Regional Exposure Analysis
8.2 Comparative SWOT Analysis
9 Vendors Profile
9.1 MBA Polymers
9.1.1 Analyst Opinion
9.1.2 Business Analysis
9.1.2.1 Strategic Snapshot
9.1.2.2 Business Impact Analysis
9.1.2.3 Product/Service Portfolio
9.2 SUEZ Environment S.A.
9.3 KW Plastics Recycling
9.4 B. Schoenberg & Co. Inc.
9.5 Waste Management Inc.
9.6 Merlin Plastics Supply Inc.
9.7 B&B Plastics
9.8 Green Line Polymers
9.9 Clean Tech Inc.
9.10 Custom Polymers Inc.
9.11 Greenpath Recovery Inc.
10 Companies to Watch For
10.1 China Forestry Group Corporation
10.1.1 Overview
10.1.2 Strategic Partnerships and Recycled PP with Virgin-like Properties, Opening New Dimensions
For more information about this report visit https://www.researchandmarkets.com/r/z77gwr
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