Recycled Plastics Market is estimated to register a CAGR of 9.4% from 2022 to 2028
Pune, India, Nov. 03, 2023 (GLOBE NEWSWIRE) — According to our new research study on “Recycled Plastics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Source, Application, and Geography,” the recycled plastics market is projected to reach US$ 82.42 Billion by 2028 from US$ 44.38 Billion in 2022; it is expected to grow at a CAGR of 9.4% from 2022 to 2028. The recycled plastics market projected growth during the forecast period is mainly attributed to the flourishing automobile sector and packaging industry.
Get Sample PDF: https://www.theinsightpartners.com/sample/TIPRE00020347/
Recycled Plastics Market: Competition Landscape
REMONDIS SE & CO.KG; Biffa; Stericycle, Inc.; Veolia; Jayplas; Alpek S.A.B.de C.V.; Republic Services, Inc.; B & B Plastics Inc.; Clear Path Recycling; and PLASTIPAK HOLDINGS, INC are a few of the major players operating in the recycled plastics market. Key companies in this recycled plastics market are focusing on strategies such as R&D investments and new product launches.
Recycled Plastics Market Report Scope, Segmentations, Regional & Country Scope:
Market Size Value in
US$ 44.38 Billion in 2022
Market Size Value by
US$ 82.42 Billion by 2028
CAGR of 9.4% from 2022 to 2028
No. of Pages
No. of Tables
No. of Charts & Figures
Historical data available
Type, Source, and Application
North America; Europe; Asia Pacific; Latin America; MEA
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Oman, Russia, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
In 2022, Asia Pacific held the largest share of the recycled plastics market. The market growth in this region is mainly attributed to the growing demand for additives from the automotive, packaging, and building & construction industry. Further, increasing construction activities in emerging economies are significantly boosting the growth of the recycled plastics market. Rapid urbanization with an increasing global population is driving the demand for recycled plastic in buildings and construction activities. The rising growth of the construction industry is due to the growing population in emerging economies, including India and China. Moreover, these countries use recycled plastic in residential and commercial construction and other infrastructure projects.
Growing demand for more environmentally-friendly homes with a lower carbon footprint and open green spaces is augmenting the recycled plastics market growth for recycled plastic. Roofing titles are essential for any building and take a considerable amount of money to install. Recycled plastic is also used to build roofing titles as they are less expensive than other construction materials. Further, rising awareness among investors regarding environmental protection is driving the demand for recycled plastic in construction materials and designs of more ecologically viable homes. Increasing government expenditure and investment to improve domestic infrastructure and for sustaining economic growth would create lucrative oppourtunties for recycled plastic in construction industry especially in developing countries.
Rising Stringent Government Regulations to Upsurge the recycling rate of plastics and favor Recycled Plastics Market Growth
Recycled plastics are resins that are manufactured by reusing waste plastic products. Furthermore, they are produced by recovering plastic scraps and other wastes and then reprocessing them into useful products. Further, recycling plastics is witnessing a boost in its growth due to the rising awareness about the environment. Many organizations are recruiting companies to opt for recycled plastics in their manufacturing facilities. Rising environmental concerns and the need for frameworks to conserve energy coupled with versatile applicability support stringent government regulations in many regions. Technological advancement in plastic recycling is supporting the demand for recycled plastic. Recycling plastic is one solution that is considered more sustainable over the long term.
Recycled Plastics Market: Segmental Overview
Based on type, the recycled plastics market is segmented ainto polyethylene terephthalate, polyvinyl chloride, polyethylene, polystyrene, and others. The market demand for polyethylene terephthalate is anticipated to grow significantly during the studied forecast period. It is a polymer created by combining two monomers, such as Modified Ethylene Glycol and Purified Terephthalic Acid. Polyethylene recycled plastics can be identified by its recycling code#1, as they have short lifespan it is easy to recycle them, low diffusion coefficient makes polyethylene terephthalate much more suitable when compared to other plastics materials. Polyethylene terephthalate is the most widely used plastic and is clear, strong, lightweight, and 100% recyclable.
The recycled plastics market, based on source, is segmented into plastic bottles, plastic films, plastic foams, plastic fibers, and others. The recycled plastics market demand for plastic bottles is anticipated to grow significantly during the forecast period. Plastic bottles are the most recycled post-consumer plastics. Recycling plastic bottles can help in the conservation of 80% of energy, which is used in the manufacturing of new bottles, containers, and other products. Recycled plastic bottles are more environmentally friendly than non-recycled single-use plastic bottles, as these recycled plastic bottles help reduce the environmental crisis due to serious climate change. Therefore, a massive shift in preference for recycled plastic bottles is required to avoid the landfill problem.
Based on application, the recycled plastics market is segmented into packaging, textile, automotive, building and construction, electrical and electronics, and others. The automotive industry is the major consumer of recycled plastics. An increase in automotive production in emerging economies with the increase in global population is projecting the demand for recycled plastics for auto parts manufacturing. The automotive industry is among the ones where plastic consumption is high. In the automotive industry, recycled plastic is used to produce new parts. The primary reason for using recycled plastic in the automotive industry helps to reduce vehicle mass, which is directly linked to reducing carbon emissions. In addition, these plastic parts are not prone to corrosion, offer flexibility and resilience for added safety, and provide thermal insulation.
Place Direct Order for Recycled Plastics Market Research Report (2022-2028): https://www.theinsightpartners.com/buy/TIPRE00020347/
Impact of COVID-19 Pandemic on Recycled Plastics Market
The COVID-19 pandemic caused significant economic losses worldwide, especially in 2020 and early 2021. The recycled plastics market also experienced the adverse effects of the COVID-19 pandemic in 2020. The pandemic temporarily hampered the operational efficiencies of various industries, which resulted in limited demand for lubricants and recycled plastics. Nevertheless, various economies started reviving their operations in 2021. The resultant growing need for recycled plastics and significant investments by prominent manufacturers to increase production capacities are driving the growth of the recycled plastics market.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Molded Plastics Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis
Biodegradable Plastics Market Size and Forecasts (2022 – 2028), Global and Regional Growth Opportunity Analysis
Post-Consumer Recycled Plastics Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
Sr. Vice President – Research
(Bloomberg) — If the oil market offers clues about the state of the economy, it’s through the prism of two petroleum products: diesel and naphtha. And in Europe, the news is bleak.Most Read from BloombergAmazon’s Jeff Bezos Announces Move to Miami From SeattleSam Bankman-Fried Convicted of Fraud in Stunning FTX CrashBiggest Cross-Asset Rally This Year Takes Wall Street by StormIceland’s Blue Lagoon on Alert for Magma Flows After EarthquakesIsrael’s Fight With Iran Proxies in Syria Poisons Russi
Google has ended its agreement with real estate developer Landlease for its San Francisco Bay Project, effectively scrapping its plans to build a campus with thousands of homes for employees and locals.
Shifts in the U.S. tobacco market are trickier for expensive brands like Marlboro to navigate than cheaper rivals.
While inflation has made real estate investment trusts (REITs) more appealing to many investors, the rate hikes that followed sent many running in the opposite direction. Higher interest rates have not only hindered company growth but have also made REIT dividend yields less attractive than the "risk-free" Treasury yields. When dividend yields start hitting double digits, however, some REITs become a little too tempting to ignore. Are these 10%+ yields too good to pass up, or too good to be true
I’m 58 and I have $700,000 in 401(k)s and IRAs. I have no credit card debt, no auto loan payments and no student loans. I sold my home in California and paid cash for a house in Texas, so I have no mortgage. I’m retired military and bring in about $2,200 per month after taxes. […] The post Ask an Advisor: How Do I Cover $3,000 in Monthly Living Expenses? I’m 58 With $700k in Retirement Savings, But I Won’t Collect Social Security for 7 Years appeared first on SmartReads by SmartAsset.
Pilot claims accounting adjustments will potentially shortchange the family that once controlled it.
The United Auto Workers’ president says there could be a nasty fight ahead to organize workers at Ford Motor Co.’s jointly-owned electric battery plants.
Anthony Albanese, making the first visit by an Australian leader to China since before a diplomatic rift in 2020, could face a tough task in repairing trade ties.
While it seems it should be no problem to retire at age 65 if you’ve saved $2.5 million, a global pandemic, fluctuating financial markets and historically high inflation have shown that nothing in life is certain.
I am 48 years old. I made $310,000 last year and I currently have $546,000 in my retirement plan at work. My husband is on disability and doesn't work and does not have a 401(k) plan. I wanted to open a Roth IRA but I read that I make too much money. What options do […] The post Ask an Advisor: I Made $310,000 Last Year and Have $546,000 in Retirement Savings, But My Spouse Doesn’t Work. How Can I Save More? appeared first on SmartReads by SmartAsset.
Spousal IRA contributions allow a working spouse to put money in their nonworking spouse's retirement account, if they meet these requirements.
In many Americans’ minds, the traditional retirement age is 65. But often people want to wrap up their career sooner than that. According to a 2021 report from Natixis Investment Managers, younger generations plan to retire earlier. Members of Generation Y … Continue reading → The post How to Retire at 64: Step-by-Step Plan appeared first on SmartAsset Blog.
(Bloomberg) — Wages for US oil workers climbed for a third straight month, setting a fresh record as paychecks prove resilient amid slowing shale activity.Most Read from BloombergAmazon’s Jeff Bezos Announces Move to Miami From SeattleSam Bankman-Fried Convicted of Fraud in Stunning FTX CrashBiggest Cross-Asset Rally This Year Takes Wall Street by StormIceland’s Blue Lagoon on Alert for Magma Flows After EarthquakesIsrael’s Fight With Iran Proxies in Syria Poisons Russia TiesAverage hourly earn
(Reuters) -California's top public pension system on Friday said it will more than double its climate-focused investments to $100 billion by 2030 and consider selling stocks in companies with poor plans for the energy transition. Staff of the California Public Employees' Retirement System (CalPERS) said the plan will boost returns for the $444 billion system, the largest in the U.S., plus cut in half its portfolio's "emissions intensity," a measure of emissions relative to output. "We believe there's a full opportunity set coming about from the transition to a lower-carbon economy," said Peter Cashion, CalPERS head of sustainable investing, in a call with reporters on Thursday.
WTI crude futures fell for the second consecutive week, losing nearly 6% to $80.51 a barrel, its largest weekly loss since the Hamas attack that triggered the war in Israel. A recent strengthening of the U.S. dollar, which tends to boost oil prices, also changed today, with the WSJ Dollar Index falling 1%. Next week, the EIA will skip its weekly report on US oil inventories due to a system upgrade.
Higher interest rates and a competitive labor market make the case to bring back a version of the classic retirement benefit.
Electric vehicle sales and demand might be stalling in parts of the US, but don't tell that to California.
Later this year, Fidelity is planning to cut off access for independent advisors to using its high-yield money-market funds as the sweep account option for client cash. The move brings Fidelity closer in line with rival Charles Schwab where trades or investment income automatically flow into the firm’s low-yield sweep account. Fidelity’s current FCash rate is higher than what Schwab pays, but still well below some money-market funds currently available to clients.
“We are so far past the time where you could learn everything you need to know for your career when you're 22,” Lisa Gevelber said.
Church & Dwight lifted its annual net sales forecast for a third time this year on Friday, boosted by high prices as well as strong demand for its household and personal care products.