SAN FRANCISCO, July 27, 2020 /PRNewswire/ -- The global post-consumer recycled plastics market size is anticipated to reach USD 16.7 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.6% over the forecast period. Increasing environmental concerns, growing urbanization, industrialization, and rising concerns to reduce the carbon footprint in the manufacturing of plastic resin are expected to drive the market
Key suggestions from the report:
- The bottle source segment is expected to expand at the highest CAGR over the forecast period in terms of revenue. This is attributed to the rising demand for plastic bottles for the packaging of sanitizers, beverages, cosmetics, and various other products
- By type, the polystyrene segment is expected to witness the fastest growth over the forecast period in terms of revenue. It is used primarily in the manufacturing of packaging products for food and non-food applications
- Asia Pacific accounted for over 45.0% of the overall revenue in 2019. China is expected to expand at a CAGR of 11.0% from 2020 to 2027.
Read 110 page research report with ToC on "Post-consumer Recycled Plastics Market Size, Share & Trends Analysis Report By Source (Bottles, Non-bottle Rigid), By Type (Polypropylene, Polystyrene, Polyethylene), By Region, And Segment Forecasts, 2020 - 2027: https://www.grandviewresearch.com/industry-analysis/post-consumer-recycled-plastics-market
Demand for post-consumer recycled plastics is expected to increase majorly in the packaging application and various industries, including electrical and electronics, food and beverages, automotive, and textiles. Fast-moving consumer goods (FMCG) and food and beverage are the primary sectors driving the demand for post-consumer recycled plastics. In addition, post-consumer recycled plastics are used in the production of various plastics. Rising environmental concerns and various government regulations to reduce the carbon footprint are expected to drive the demand for post-consumer recycled plastic.
The global market is segmented based on type as polyethylene terephthalate (PET), polypropylene (PP), polystyrene (PS), polyethylene (PE), polyvinyl chloride (PVC), and polyurethane (PUR). Polyethylene was the prominent source segment and accounted for over 20.0% share of the global revenue in the year 2019. The polystyrene segment is expected to witness significant growth in the future due to the high demand for packaging products, such as films, sheets, and foam, which are used in a wide range of industries.
Grand View Research has segmented the global post-consumer recycled plastics market on the basis of source, type, and region:
- Post-consumer Recycled Plastics Source Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Non-bottle Rigid
- Post-consumer Recycled Plastics Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polyurethane (PUR)
- Polyethylene Terephthalate (PET)
- Post-consumer Recycled Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
- List of Key Players of Post-consumer Recycled Plastics Market:
- REMONDIS SE & Co. KG
- Republic Services, Inc.
- WM Intellectual Property Holdings, L.L.C.
- Shell International B.V.
- Waste Connections
- CLEAN HARBORS, INC.
- Covetsro AG
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Recycled Polyethylene Terephthalate Market – In recent times, consumers have become more conscious of environmental sustainability, which has benefitted the growth of the market.
- Blow Molded Plastics Market– Amid the global COVID-19 pandemic, the demand for various pharmaceutical products have increased. This, in turn, is driving the demand for blow molded plastics.
- Plastics In Personal Protective Equipment Market – Increasing demand for plastics in the production of personal protective equipment is projected to support the plastic in PPE market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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