Global Post-consumer Recycled Plastics Market Set to Cross the $10 Billion Mark by 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 25, 2019--
The “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” report has been added to ResearchAndMarkets.com’s offering.
The post-consumer recycled plastics market 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.
Veolia Environment (France), SUEZ (France), Waste Management, Inc. (US), Republic Services (US), Waste Connections Inc (Canada), Clean Harbors (US), Biffa (UK), DS Smith (UK), Stericycle (US), and Remondis SE & Co. KG (Germany) are the key players operating in the post-consumer recycled plastics market.
Increasing awareness regarding sustainable packaging solutions is leading to the rise in demand for recycled plastic products, leading to the overall growth of the post-consumer recycled plastics market across the globe from 2019 to 2024.
The growing demand for post-consumer recycled plastics is attributed to the increase in awareness programs regarding sustainable packaging, stringent law enforcement by governments for the management of plastic waste to reduce waste accumulating in landfills, and growing urbanization. However, the high cost of using recycled plastics and difficulty in managing the supply chain is projected to pose challenges in the growth of the market.
In terms of volume, the PP segment is projected to grow at the highest CAGR during the forecast period.
The polypropylene (PP) segment in the post-consumer recycled plastics market is projected to grow at the highest CAGR during the forecast period, in terms of volume. Factors such as high stiffness, heat resistance, steam barrier properties (food protection), elasticity (film and fibre applications), enhanced transparency, strong impact, & rigidity balance in the products manufactured with PP, are expected to boost the growth of this segment in the coming years.
In terms of volume, the packaging segment is projected to be the most significant end-use application of the post-consumer recycled plastics, from 2019 to 2024.
The packaging segment is projected to be the largest & the fastest-growing end-use application in the post-consumer recycled plastics market from 2019 to 2024 in terms of both value and volume. Recycled plastic contents are widely used in packaging items such as containers, bottles, bags, films, and other protective packaging products. Increasing demand for recycled plastics for packaging applications, further drive the growth of the post-consumer recycled plastics market.
The market study covers the post-consumer recycled plastics market across various segments. It aims at estimating the market size and the growth potential of this market across different services based on collection & transportation, recycling, incineration, landfills, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their service and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the post-consumer recycled plastics market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall post-consumer recycled plastics market and its segments and subsegments. This report is expected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping the stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
- Laws & Regulations Enforced By Governments
- Increase in Awareness Programs Regarding Sustainable Waste Management Practices
- Increasing Urban Population
- Reduced Environmental Impact Through Plastic Recycling
- Low Participation of the Residential Sector in the Management of Plastic Waste
- The Absence of the Required Framework for Plastic Waste Collection and Segregation
- Fewer Treatment Plants and the Lack of Expertise for the Recycling of Plastic Waste
- Rising Demand from Emerging Economies
- Increasing R&D Investments
- Public & Private Sector Partnerships for the Management of Plastic Waste to Offer Lucrative Growth Opportunities for Key Players
- High Costs of Using Recycled Plastics
- Difficulty in Managing the Supply Chain
- Veolia Environment
- Waste Management Inc.
- Republic Services
- Waste Connections Inc.
- Clean Harbors
- Remondis SE & Co. KG
- DS Smith
- Eco-Products Inc.
- Placon Corporation Inc.
- Alpha Packaging
- Seventh Generation Inc.
- Mondi Group
- Berry Global Inc.
- Sealed Air Corporation
For more information about this report visit https://www.researchandmarkets.com/r/g047vw
View source version on businesswire.com:https://www.businesswire.com/news/home/20191125005486/en/
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS ENVIRONMENT MANUFACTURING
SOURCE: Research and Markets
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PUB: 11/25/2019 08:57 AM/DISC: 11/25/2019 08:57 AM