Global Post-consumer Recycled Plastics Market 2019-2023
Global Post-consumer Recycled Plastics Market: About this market
Post-consumer recycled plastics are used, recycled, and re-purposed plastics that are derived from plastic products. Technavio’s post-consumer recycled plastics market analysis considers sales from polyethylene terephthalate (PET), high-density polyethylene (HDPE), polypropylene (PP), and other types. Our analysis also considers the sales of post-consumer recycled plastics in APAC, Europe, North America, South America, and MEA. In 2018, the PET segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as numerous recyclable PET products will play a significant role in the PET segment to maintain its market position. Also, our global post-consumer recycled plastics market report looks at factors such as increased demand for recycled plastics from the packaging industry, lightweight nature and durable properties of recycled plastics, and environment-friendly nature of recycled plastics. However, the low recycling rate of plastics, negative impacts of China's plastic recycling ban, and stringent government regulations may hamper the growth of the post-consumer recycled plastics industry over the forecast period.
Global Post-Consumer Recycled Plastics Market: Overview
Increased demand for recycled plastics from packaging industry
Many industries are adopting green and sustainable solutions, with the increase in awareness about healthy living. Therefore, consumers are using post-consumer recycled post-consumer recycled plastics. Hence, considerable attention is being drawn to plastic recycling. With the growing awareness among consumers about environmental protection, the packaging industry is shifting to the use of post-consumer recycled plastics. In 2016, 40%-45% of the plastics were used by the global packaging industry, which accounted for a major portion of plastics consumption. This demand for recycled plastics from packaging industry will lead to the expansion of the global post-consumer recycled plastics market at a CAGR of almost 9% during the forecast period.
Technological Advances in Plastic Recycling
Heavy machinery that can transform recycled plastics into usable products by sorting waste appropriately is required. Also, artificial intelligence (Al) is contributing to the development of waste recycling techniques. To address the issues associated with plastic recycling. International Business Machines Corp. (IBM) invented a pressure reactor that renders recycling more accessible and sustainable. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global post-consumer recycled plastics market during the forecast period 2019-2023, click here.
With the presence of several major players, the global post-consumer recycled plastics market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading post-consumer recycled plastics manufacturers, that include EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H., MBA Polymers Inc., SUEZ SA, TerraCycle Inc., and Veolia.
Also, the post-consumer recycled plastics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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