Sustainable Solutions: Recycled Plastic Market Seeks Opportunities in Diverse Industries

Dublin, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The "Recycled Plastic Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to's offering.

This in-depth study offers valuable insights into the future of the recycled plastic market, presenting opportunities in packaging, textiles, building & construction, automotive, and electrical & electronics industries.

Promising Growth Prospects:

The global recycled plastic market is projected to experience significant growth at a Compound Annual Growth Rate (CAGR) of 7% to 9% from 2023 to 2028. Key drivers propelling this market include the increasing use of plastics in lightweight component production across various industries, growing acceptance and consumption of recycled plastics in textiles, expanding applications in packaging, automotive, and electrical & electronics sectors, and advancements in cost-effective and sophisticated recycling technologies.

Comprehensive Market Segmentation:

The report offers an extensive forecast for the global recycled plastic market by product type, source, end-use industry, and region, featuring key segments such as Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene, and others.

Key Segments Include:

  • Recycled Plastic Market by Product Type: Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene, and others
  • Recycled Plastic Market by Source: Bottles, Films, Fibers, Foam, and others
  • Recycled Plastic Market by End-Use Industry: Building & Construction, Packaging, Electrical & Electronics, Textiles, Automotive, and others
  • Recycled Plastic Market by Region: North America, Europe, Asia Pacific, and the Rest of the World

Leading Companies Profiled:

Competing on the basis of product quality, major players in the recycled plastic market focus on expanding manufacturing facilities, investing in Research & Development (R&D), developing infrastructure, and leveraging integration opportunities across the value chain. Key companies profiled in the report include Indorama Ventures, Biffa, Stericycle, Republic Services, WM Intellectual Property Holdings, Veolia, Shell International BV, Waste Connections, Clean Harbors, and Covetsro AG.

Insights and Forecasts:

  • The analyst forecasts that polyethylene will remain the largest segment over the forecast period due to the high demand for packaging material in consumer goods, food & beverage, industrial, and various other industries. Also, it is commonly used in laundry detergent packaging, milk cartons, cutting boards, and garbage bins, among various other applications.
  • Packaging is expected to remain the fastest growing segment due to the rising demand for packaged foods & beverages, electrical & electronics, and textiles, rapid growth of e-commerce across the globe, and the volume of orders through e-commerce platforms have increased dramatically that resulted in the extensive use of recycled plastic for the packaging of products.
  • APAC will remain the largest region due to rapid growth of the food and beverages, electrical and electronics, automotive, e-commerce industry, and several other industries that have significantly contributed towards the growing consumption of recycled plastics in this region. The rising development of non-residential construction projects, including hospitals, commercial buildings, malls, schools, and colleges will drive the demand for plastics in the roofing tiles, insulation, fences, floor tiles, carpets, and various other construction applications.

Features of the Recycled Plastic Market

  • Market Size Estimates: Recycled plastic market size estimation in terms of value ($B)
  • Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Recycled plastic market size by various segments, such as by product type, source, end use industry, and region.
  • Regional Analysis: Recycled plastic market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different segments by product type, source, end use industry, and regions for the recycled plastic market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the recycled plastic market.
  • Analysis of competitive intensity of the industry based on Porter's Five Forces model.

Company Profiles of Leading Players

  • Indorama Ventures
  • Biffa
  • Stericycle
  • Republic Services
  • WM Intellectual Property Holdings
  • Veolia
  • Shell International BV
  • Waste Connections
  • Clean Harbors
  • Covetsro AG

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