Global Recycled Plastics Market | Use of Reusable Plastics in Various Applications to Boost the Market Growth | Technavio

The global recycled plastics market size is poised to grow by USD 14.74 billion during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Recycled Plastics Market 2020-2024 (Graphic: Business Wire)

The packaging industry is one of the leading consumers of plastic. This induced many packaging companies to shift their focus toward recycled plastics, thereby reducing their carbon footprint. Also, the growing consciousness about environment protection among consumers has prompted the packaging industry to adopt green and sustainable packaging solutions. In the US, companies are using recycled plastics in a wide range of applications such as the manufacturing of FDA approved food packaging plastic containers, bottles, closures, jars, engineered pumps, sprayers, and caps. Unilever Group has recently announced that all of its plastic packaging solutions will be fully reusable, recyclable, and compostable by 2025. With the increasing adoption of reusable plastics in various applications, the recycled plastics market size will grow significantly during the forecast period.

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Report Highlights:

• The major recycled plastics market growth came from the packaging end-users segment. The high demand for plastic products for packaging and the rising awareness about the benefits of using recycled plastics to make packaging solutions in the food and beverage, personal care, household care, and healthcare industries is one of the major factors driving the growth of the segment’s recycled plastics market share.
• APAC was the largest recycled plastics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising automotive production, increasing demand for textiles, the growing construction industry, and the growing use of recycled plastics in these industries will significantly influence recycled plastics market growth in this region.
• The global recycled plastics market is concentrated. B. Schoenberg & Co. Inc., Envision Plastics, Imerys SA, Kuusakoski Group Oy, KW Plastics, MBA Polymers Inc., PLASgran Ltd., SUEZ SA, UltrePET LLC, and Veolia Environnement are some of the major market participants. To help clients improve their market position, this recycled plastics market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global recycled plastics market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Rising Demand for Synthetic Textiles will be a Key Market Trend

The rising demand for synthetic textiles will be one of the key recycled plastics market trends. Nylon and polyester fibers derived from recycled plastics are extensively used in the manufacture of apparel such as shirts, pants, jackets, hats, and home furnishings such as bed sheets, blankets, and other upholstered furniture fabrics. Polyester fibers have a high demand in the textile industry because of their cost-effectiveness, recyclability, superior strength, and flexibility. Despite the high price, nylon is increasingly being used in many applications, including conveyor belts, ropes, carpets, parachutes, racquet strings, sleeping bags, and seat belts. The increasing use of nylon is expected to fuel the growth of the nylon filament market over the forecast period. This will have a positive impact on the global recycled plastics market size. As a result of these factors, the market will grow during 2020-2024.

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Recycled Plastics Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist recycled plastics market growth during the next five years
• Estimation of the recycled plastics market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the recycled plastics market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of recycled plastics market vendors

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Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five Forces Summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user placement
• Packaging - Market size and forecast 2019-2024
• Construction - Market size and forecast 2019-2024
• Automotive - Market size and forecast 2019-2024
• Electrical and electronics - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by End-user

Market Segmentation by Type

• Market segments
• Comparison by Type placement
• PET - Market size and forecast 2019-2024
• HDPE - Market size and forecast 2019-2024
• LDPE - Market size and forecast 2019-2024
• PP - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by Type

Customer Landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Drivers, Challenges, and Trends

• Market drivers
• Volume driver - Demand led growth
• Volume driver - Supply led growth
• Volume driver - External factors
• Volume driver - Demand shift in adjacent markets
• Price driver - Inflation
• Price driver - Shift from lower to higher-priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• B. Schoenberg & Co. Inc.
• Envision Plastics
• Imerys SA
• Kuusakoski Group Oy
• KW Plastics
• MBA Polymers Inc.
• PLASgran Ltd.
• SUEZ SA
• UltrePET LLC
• Veolia Environnement

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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