Post-consumer recycled plastic is a used, recycled and repurposed type of plastic that is obtained from plastic products (such as clear water bottles). It is the combination of plastic packaging materials in the recycling services. There are numerous environmental benefits of using recycled materials such as it minimizes global warming, reduces pollution, offer protection to the environment, and they are definitely opted by the corporates who need to change a viable design policy. Increasing urban population, reduced environmental impact through plastic recycling, growing awareness programs regarding sustainable waste management practices and increased demand for recycled plastic from the packaging industry are few factors responsible for the high CAGR of the market over the forecast period. For instance, according to the United Nations Department of Economic and Social Affairs in 2018, it is estimated that 55% of the total world’s population lives in the urban areas and is expected to rise to 68% by 2050. Moreover, increasing R&D investments and growing public & private sector partnerships for the management of plastic waste are the features that create lucrative growth opportunities for market growth in the near future. However, low contribution in the management of plastic waste by the residential sector, fewer treatment plants and the lack of knowledge for the recycling of plastic waste are the few factors limiting the growth of the market around the world.
Global Post-Consumer Recycled Plastics Market is valued at approximately USD 7.3 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2019-2026 and is estimated to reach USD 11.6 billion by 2026.
The regional analysis of the global Post-Consumer Recycled Plastics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading/significant region across the world due to the technological advancements in the waste management industry, and laws governing plastic waste collection, disposal, and recycling across the region. Whereas, Asia Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2019-2026. Factors such as the changing lifestyle, increasing awareness about the benefits of using recycled plastics among people and high disposable income would create lucrative growth prospects for the Post-Consumer Recycled Plastics Market across the Asia Pacific region.
Major market players included in this report are Veolia Environment, Suez, Waste Management Inc., Republic Services, Stericycle, Waste Connections, Inc., Clean Harbors, Remondis SE & Co. Kg, Biffa, and DS Smith.
The detailed segments and sub-segment of the market are explained below:
By Service: Collection & Transportation, Recycling, Incineration, Landfills/Disposal
By Polymer Type: Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polypropylene (PP), Others
By Processing Type: Chemical Process, Mechanical Process, Biological Process
By End-Use Application: Packaging, Building & Construction, Automotive, Furniture, Recycled Plastics in other End-User Applications
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