Post-Consumer Recycled Plastics Market Worth $10.2 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 18, 2019 /PRNewswire/ -- According to the new market research report "Post-consumer Recycled Plastics Market by Service (Collection & Transportation, Recycling, Landfills, Incineration) Polymer Type (PP, LDPE, HDPE, PVC, PUR, PET, PS), Processing Type, End-use Application, and Region - Global Forecast to 2024", published by MarketsandMarkets™, the Post-Consumer Recycled Plastics Market size is projected to grow from USD 7.7 billion in 2019 to USD 10.2 billion by 2024, recording a CAGR of 5.7% during the forecast period.
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Browse in-depth TOC on "Post-consumer Recycled Plastics Market"138 – Tables 37 – Figures 180 – Pages
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The increasing urban population, rapid industrialization, growing concern toward the environmental impact of the improper disposal of plastic waste, along with laws & regulations regarding disposal and treatment of plastic waste, have propelled the growth of the global post-consumer recycled plastics market.
The polyethylene terephthalate (PET) segment is projected to lead the post-consumer plastic waste market
The PET segment led the post-consumer plastic waste market in 2018; this trend is projected to continue until 2024. A wide range of benefits (including non-fluorescent, non-absorbent, and moisture-resistant) and applications (such as food packaging, pharmaceutical packaging, box making, and electronics) of PET have contributed to its huge demand. Increased demand for PET products has led to its increased post-consumer waste generation which further creates concerns for its management.
In terms of value & volume, the recycling segment is projected to grow at the highest CAGR from 2019 to 2024.
The recycling segment of the post-consumer recycled plastics market is projected to grow at the highest CAGR during the forecast period, in terms of both value and volume. This segment also led the global post-consumer recycled plastics market in 2018, in terms of value, and this trend is projected to continue throughout the forecast period. Increase in infrastructural development (in terms of setting up recycling plants) in developing and developed countries, growing concern on reduction of landfills, and stringent regulations for plastic recycling boost its demand.
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In terms of value and volume, the North America region is projected to be the fastest-growing market during the forecast period.
The North America region is projected to be the fastest-growing market for post-consumer recycled plastics in terms of value. The market in this region is majorly driven by the technological advancements in the waste management industry and laws governing the plastic waste collection, disposal, and recycling. The US is projected to be the largest consumer of services offered by post-consumer plastic waste recycler, which in turn boosts the market for post-consumer recycled plastics in North America.
Companies such as Veolia Environnement S.A. (France), SUEZ (France), Waste Management Inc. (US), Republic Services Inc. (US), and Stericycle Inc. (US). Other notable players in the market are Biffa (UK), Clean Harbors (US), Remondis SE & Co. KG (Germany), DS Smith (UK), and Waste Connections, Inc. (US) are the key players operating in the plastic waste management market. Expansions, acquisitions, partnerships, contracts, joint ventures, new product & service developments, and technological advancements are some of the major strategies adopted by these key players to enhance their position in the Post-consumer Recycled Plastics Market.
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Browse Adjacent Markets: Resins and Polymers Market Research Reports & Consulting
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Plastic Waste Management Market by Service (Collection, Recycling), By Polymer Type (PP, LDPE), By Source (Residential, Commercial, Industrial), By End-Use Applications (Packaging, Building & Construction), Region - Global Forecast to 2024
Recycled Plastics Market by Source (Bottles, Films, Fibers, Foams), Type (PET, PE, PP, PVC, PS), End-Use Industry (Packaging, Building & Construction, Textiles, Automotive, Electrical & Electronics) and Region - Global Forecast to 2022
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