Plastic recycling decreases the quantity of wastes that are being dumped into landfills and aids in transforming the wastes into lower or same grade plastic materials. These products are used across different sectors. A large proportion of the plastic that is procured for recycling is not suitable for recycling as most plastics used are semi-porous and absorb molecules of the stored material.
The removal of these residues is tedious and additional treatments for the same can potentially alter the properties of the recycled plastics. Most recycled plastics are used to make lower grade products. These are hydrolyzed to a monomeric form and then purified and re-polymerized into food grade plastic.
The global recycled plastics market is forecast to grow at a CAGR of 4.31% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: The demand for plastic and its related products is increasing significantly. This is attributable to the substitution of other materials and metals by plastics. Plastic is preferred in many automotive, healthcare, defense, and energy industries. This has been one of the primary reasons that have intensified the focus on plastic recycling.
According to the report, the growing demand for plastics from healthcare, automotive, food and beverage, oil and gas, construction, and household products has stimulated the need for plastic recycling. The scarcity of petrochemicals, rising costs of raw materials, and growing environmental concerns are also fostering the need for recycling.
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