The global post-consumer recycled plastics market size is projected to grow from USD 14.2 billion in 2020 to USD 18.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.7%
NEW YORK, Sept. 23, 2020 /PRNewswire/ -- Growing concern toward the environmental impact of the improper disposal of plastic waste, along with laws & regulations regarding the disposal and treatment of plastic waste is projected to drive the overall growth of the post-consumer recycled plastics market across the globe from 2020 to 2025.
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The global post-consumer recycled plastics market size is projected to grow from USD 14.2 billion in 2020 to USD 18.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast year. Post-consumer recycled resins or plastics are obtained by recycling the plastic waste collected from consumers. Consumer plastic waste includes bottles, films, and foams. Post-consumer plastic waste management includes recycling, recovery, and disposal of plastic waste. Moreover, waste management systems ensure the safe collection, segregation, storage, transportation, processing, and disposal of generated plastic waste. Post-consumer recycled resins also ensure that no harm is caused to the environment during this process and that the process is undertaken in accordance with the regulations and standards prescribed by governments or associations.
In terms of value, recycling is estimated to lead the post-consumer recycled plastics market in 2019.
Recycling, by service, accounted for the largest market share in the post-consume recycled plastics market.The recycling process of consumer plastic waste involves sorting, cleaning & drying, shredding & agglomeration, pelletizing, and finally, manufacturing recycled products.
In the case of developing countries such as India, much of the waste collected from residential areas is not sorted before it is collected, which makes the recycling of consumer plastic wastes difficult.However, in developed countries, consumer plastic waste is sorted and deposited in containers; sorting also takes place after the waste is collected.
In this stage, recovered plastic waste is segregated into different grades either by SPI code or by the type of plastic, additives, and fillers used. The segregation is done as different types of plastics require different treatment, while recycling them to make different types of products.
PP is estimated to be the fastest-growing segment in the post-consumer recycled plastics market from 2020 to 2025.
PP, by polymer type, is estimated to be the fastest-growing segment in the post-consumer recycled plastics market from 2020 to 2025, in terms of volume.Products made from PP offer high stiffness, heat resistance, steam barrier properties (food protection), elasticity (film and fiber applications), enhanced transparency, strong impact & rigidity balance.
The resistance of PP to permeation is equivalent to or marginally better than that of high-density polyethylene (HDPE) and superior to low-density polyethylene (LDPE).It is recyclable and reused in various applications besides manufacturing plastics.
These properties have led to an increasing preference for PP in the manufacture of packaging units used in the food & beverage, pharmaceutical, electronic, and packaging industries. Few packaging applications include bottles, crates, films, and pots.
The APAC region is projected to account for the largest share in the post-consumer recycled plastics market during the forecast period.
The APAC region is projected to lead the post-consumer recycled plastics market, in terms of both value and volume from 2020 to 2025.The growing population, rising GDP, and increasing disposable income in APAC are leading to the generation of more solid waste, which, in turn, is creating opportunities for plastic recycling in the region.
According to the OECD Development Centre's Medium Term Projection Framework (MPF-2019), GDP in the emerging Asian region is projected to grow by an annual average of 6.1% between 2020 and 2025.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the post-consumer recycled plastics market.
• By Department: Sales/Export/Marketing: 54%, Production: 23%, and CXOs: 23%
• By Designation: Managers: 61%, CXOs: 23%, and Executives: 16%
• By Region: North America: 33%, Europe: 27%, Asia Pacific: 25%, Middle East & Africa: 10%, and South America: 5%
The global post-consumer recycled plastics market comprises major companies, such as Veolia Environnement S.A. (France), SUEZ (France), Waste Management Inc. (US), Republic Services Inc. (US), and Stericycle Inc. (US)
Research Coverage
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 segments based on polymer type, service, processing type, end-use application, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products 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 projected 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 sub-segments.This report is projected 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 stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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