Recycled plastic refers to materials that have undergone a process of transformation, where waste plastic is collected, sorted, cleaned, and processed into new usable products. It involves breaking down the plastic into small pieces, melting them, and reshaping them into various forms, such as bottles, containers, or fibers. This recycling process helps divert plastic waste from landfills, conserves natural resources, and reduces the need for virgin plastic production.
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Data Bridge Market Research analyzes that Europe Recycled Plastic Market is expected to reach USD 11,123,708.97 thousand by 2030 from USD 8,042,485.17 thousand in 2023, growing with a substantial CAGR of 4.7% in the forecast period of 2023 to 2030. Rising demand for sustainable packaging will drive the market growth.
Key Findings of the Study
Rising Demand for Sustainable Packaging
Packaging plays an important role as plastic packaging in food packaging, which protects foods against environmental, chemical, and physical factors that could contaminate all of the food if not packaged correctly. The essential role of packaging is to protect the product from damage during transit, but packaging also protects the product in the warehouse and retail shoes before the sale of the product. Different types of packaging are used for different types of products. The demand for eco-friendly products for packaging is increasing because eco-friendly products have low-cost production and can be reused and recycled, which lowers the production of waste in the region. For packaging, several manufacturers prefer recycled plastic packaging more as packaging processes are less energy-consuming. In addition to that, they are said to emit minimal carbon as well they help in the reduction of plastic waste. In conclusion, recycled plastic are low energy consuming and easy to manufacture compared to synthetic plastics, which also helps in maintaining the ecological balance as it helps reduce plastic waste faster and contributes to less carbon emission. So, the manufacturers prefer recycled plastics for the packaging of food and beverage products. Hence, the increase in the preference for sustainable plastic packaging is expected to drive market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Thousand and Pricing in USD
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Segments Covered
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Source (Bottles, Films, Fibers, Foams, and Others), Polymer Type (Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyurethane (PUR), and Others), Industry (Packaging, Building and Construction, Automotive, Electrical and Electronics, Furniture, Textile and Clothing, Aerospace and Defence, and Others)
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Countries Covered
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Germany, Netherlands, Spain, U.K., Belgium, Italy, Switzerland, Austria, France, Turkey, Rest of Europe
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Market Players Covered
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Veolia, LyondellBasell Industries Holdings B.V., Indorama Ventures Public Company Limited, Dow, Repsol, Alpek S.A.B. de C.V., Far Eastern New Century Corporation, Borealis AG, PLASTIPAK HOLDINGS, INC., Jayplas, Recycled Plastics UK, MBA Polymers Inc
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The market is segmented into three notable segments on the basis of source, polymer type, and industry.
- On the basis of source, the market is segmented into bottles, films, fibers, foams, and others.
In 2023, the bottles segment is expected to dominate the Europe recycled plastic market
In 2023, bottles segment is expected to dominate the market with a 61.59% market share due to its demand and availability.
- On the basis of polymer type, the market is segmented into Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polypropylene, Polyvinyl Chloride (PVC), Polystyrene (PS), Polyurethane (PUR), and others.
In 2023, the Polyethylene Terephthalate (PET) segment is expected to dominate the Europe recycled plastic market
In 2023, the Polyethylene Terephthalate (PET) segment is expected to dominate the market with a 59.65% market share because of its high recyclability and usage in plastic end products.
- On the basis of industry, the market is segmented into packaging, building and construction, automotive, electrical and electronics, furniture, textile and clothing, aerospace and defence, and others. In 2023, the packaging segment is expected to dominate the market with a 43.48% market share because of the growing awareness of sustainable packaging solutions
Major Players
Data Bridge Market Research recognizes the following companies as the major players in Europe recycled plastic market that include Veolia, LyondellBasell Industries Holdings B.V., Indorama Ventures Public Company Limited., Repsol, and Alpek S.A.B. de C.V. among others.
Market Development
- On October 31, 2022, according to the Tomorrow’s World Today, CRDC Europe, supported by the alliance to end plastic waste, announced the opening of a factory that can recycle hard-to-recycle plastic waste into a concrete additive called RESIN8. The factory uses a proprietary process that is efficient in the transformation of plastic waste into RESIN8 at the rate of approximately one ton of plastic per hour. RESIN8 is found to be increasing the integrity of asphalt and concrete. The material is further used to build housing projects and has better insulation properties than traditional concrete
- On October 18, 2022, According to Packaging 360, The collaboration between TotalEnergies Corbion and TOMRA Recycling showed the effectiveness of sorting polylactic acid from municipal mixed plastic waste. They sorted the waste using the Near Infra-Red (NIR) sorting technology. The sorting test demonstrated there were no PLA trays mixing with other types of plastics. It was also found that it did not contaminate the other waste stream having PET bottles
- On August 19, 2022, according to Gardner Business Media, Inc., Zen Robotics which is specialized in artificial intelligence robotic sorting machines, was acquired by Terex Material Processing. The machines of Zen Robotics autonomously pick and sort waste using AI, 3D sensors, and cameras. Zen Robotics' Fast Picker is designed for processing municipal waste, and the heavy picker is designed to handle industrial waste and bulky construction
- On August 11, 2020, according to Unilever, Magnum, an ice cream brand, launched new tubs which are made from recycled polypropylene plastic in a way to reduce plastic waste. The tubs and lids are fully recyclable and are made from polypropylene. The move was made by Unilever as part to reduce the usage of virgin plastic and increase the usage of recycled plastic by the year 2025.
Regional Analysis
Geographically, the countries covered in the Europe recycled plastic market are Germany, France, U.K., Spain, Italy, Poland, Netherlands, Russia, Turkey, Belgium, Sweden, Switzerland, Denmark, Finland, Norway, Rest of Europe.
As per Data Bridge Market Research analysis:
Germany is expected to dominate the market with a 23.64% market share. It is expected to reach USD 2,801,248.44 thousand by 2030, growing with the highest CAGR of 5.6% in the forecast period of 2023 to 2030. In 2023, it is expected to dominate the market due to the rising adaptation of sustainable packaging materials.
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