Plastic Recycling Market to Grow 7.10% During Forecast Period 2030 – Market Research Future

Plastic Recycling Market Size was valued at USD 38.51 billion in 2021. The plastic recycling market industry is projected to grow from USD 41.24 Billion in 2022 to USD 66.66 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.10% during the forecast period (2022 – 2030). 

The rising cognizance about environmental safety among the general public is considered to escalate the demand for Plastic Recycling. The augmentation of plastic recycling depends on the aid of government regulations and protection guidelines related to plastic recycling.
The process of re-collecting different classes of plastic materials that can be reused in other forms is known as plastic recycling. Growth in the global market is being driven by proceeding efforts toward environmental sustainability, encouraging industries to concentrate on plastic recycling. The amplifying focus on plastic recycling is also attributed to its increasing use in various industrial applications like product packaging, electronic components, and automotive interiors. Some of the textile makers are also applying recycled plastic for material production. Another prominent factor increasing the market is the availability of evolved plastic waste management technologies.

Download Report Sample Copy: https://www.marketresearchfuture.com/sample_request/2859

The requisition for affordable consumer electronic products, similar to laptops, mobile, modems, etc. has increased majorly through e-commerce websites. The rising use of consumer electronics has driven the demand for recycled plastics in electrical & electronics and packaging applications, which is anticipated to boost the market growth. The global plastics market is likely to be run by the increasing consumption of plastics in the construction, automotive, medical devices, and electrical & electronics industries.

Regional Analysis
The Global Plastic Recycling Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Presently, the Asia-pacific region is dominating the plastic recycling industry since 2018. This is due to the expanding number of small industries in the market and their expressive operation. Also, the region imports and recycles waste plastic and converts them for expressive applications. The presence of reasonable labor and major industrial areas across the countries like China have accounted for the major drivers of plastic recycling market growth across the region. The blistering usage of automotive industries and industrialization across the region are influencing the overall growth of the plastic recycling industry across the Asia-pacific region.

European countries are also flaunting a progressive growth rate in the plastic recycling industry, owing to the restrictions and strict norms regarding the wastage of plastics. Some reports generated in the European nation’s state that over 4.4 million tons of plastic waste are generated across the European countries, which are getting landfills over the year.
The US is another substantial regional market for plastic recycling due to the grand volumes of plastic waste being generated.

Request for Customization: https://www.marketresearchfuture.com/ask_for_customize/2859

Market Segmentation
The global market for plastic recycling is segmented based on material, recycling process, and application. On the basis of material, the polyethylene terephthalate (PET) segment is expected to dominate the market owing to its high-strength fibers and several types of packaging materials, such as soft drink bottles and jars.

On the basis of recycling process, the mechanical segment is expected to dominate the market, owing to the recyclability process.

On the basis of application, the packaging segment is expected to dominate the market, owing to its versatility and its extended shelf life is an exceptional solution for modern lifestyle.

Key Players
Jayplas, Joe’s Plastics Inc., Kuusakoski Group Oy, KW Plastics, Montello S.p. A., MTM Plastics GmbH, Plasgran Ltd., Plastipak Holdings Inc., Recycled Plastics UK
Browse the Complete Report: https://www.marketresearchfuture.com/reports/plastic-recycling-market-2859

Read More Related Report

Industrial Labels Market         https://www.marketresearchfuture.com/reports/industrial-labels-market-1848

linerless labels market            https://www.marketresearchfuture.com/reports/linerless-labels-market-1923

Logistics Market          https://www.marketresearchfuture.com/reports/logistics-market-5076

Metal Packaging Market        https://www.marketresearchfuture.com/reports/metal-packaging-market-1917

Molded Fiber Packaging Market        https://www.marketresearchfuture.com/reports/molded-fiber-packaging-market-3916

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

 Phone: +1 628 258 0071(US) +44 2035 002 764(UK)

Email: [email protected]

Website: https://www.marketresearchfuture.com

Tags: Plastic Recycling Market, Plastic Recycling Market Size, Plastic Recycling See Campaign: https://www.marketresearchfuture.com/reports/plastic-recycling-market-2859

Contact Information:

Contact Wantstats Research and Media Private Limited 99 Hudson Street,5Th Floor New York, New York 10013 United States of America Maharashtra, India +1 646 845 9312 Email: [email protected]

Tags:
Wire, Research Newswire, English