The Post-Consumer Recycled Plastics Market is experiencing substantial growth driven by various factors. Rising demand for recycled plastics in industries such as packaging, construction, automotive, consumer goods, and particularly the textile industry. The increasing adoption of sustainable materials and the promotion of the circular economy drive the market's expansion. Additionally, stringent regulations, government initiatives, and growing consumer awareness about environmental concerns contribute to market growth.
According to Data Bridge Market Research, the global post-consumer recycled plastics market at a rate of 6.30% in the forecast period of 2022 to 2029.
“The increase in the urban population facilitates market growth”
The increase in the urban population across the globe acts as a key driver for the Global Post-Consumer Recycled Plastics Market. Urbanization leads to a surge in consumption and waste generation, including plastic waste. As cities grow, there is a greater need for sustainable waste management practices, including the recycling of post-consumer plastics. The rising awareness of environmental concerns, coupled with government initiatives promoting recycling, drives the demand for post-consumer recycled plastics. The urban population's contribution to plastic waste generation creates opportunities for the market to expand and meet the growing demand for recycled plastic products.
What restraints the growth of the global post-consumer recycled plastics market?
“The high costs of recycled plastics”
The high costs of recycled plastics serve as a significant restraint for the Global Post-Consumer Recycled Plastics Market. Compared to virgin plastics, recycled plastics often incur higher production and processing costs due to the collection, sorting, and cleaning processes involved. Additionally, the quality and consistency of recycled plastics may vary, requiring additional quality control measures. These higher costs can pose challenges for manufacturers and limit the widespread adoption of post-consumer recycled plastics, especially in price-sensitive industries. However, ongoing advancements in recycling technologies and economies of scale are expected to mitigate this restraint in the long term.
Segmentation: Global Post-Consumer Recycled Plastics Market
The post-consumer recycled plastics market is segmented on the basis of service, polymer type, processing type, and end-use application.
- On the basis of service, the post-consumer recycled plastics market is segmented into collection and transportation, recycling, incineration, and landfills/disposal.
- On the basis of polymer type, the post-consumer recycled plastics market is divided into polyethylene terephthalate, high-density polyethylene, low-density polyethylene, polypropylene, polyvinyl chloride, polyurethane, polystyrene, and others.
- On the basis of processing type, the post-consumer recycled plastics market is segmented into chemical process, mechanical process, and biological process.
- On the basis of end-use application, the post-consumer recycled plastics market is further segmented into packaging, building and construction, automotive, furniture, recycled plastics, and others.
Regional Insights: Asia-Pacific dominates the Global Post-Consumer Recycled Plastics Market
Asia-Pacific (APAC) dominates the post-consumer recycled plastics market due to the surge in demand for non-residential construction projects in the region. The growth in infrastructure development, commercial buildings, and industrial sectors has led to significant demand for recycled plastics. APAC's focus on sustainable practices, environmental regulations, and initiatives promoting the use of recycled materials further contribute to its dominance in the market.
Europe is expected to experience substantial growth in the post-consumer recycled plastics market due to its adoption of circular economy practices. The region is actively implementing strategies to reduce the carbon footprint associated with plastic production, promoting recycling and reuse. Stringent regulations, government initiatives, and increasing consumer awareness about sustainability drive the demand for recycled plastics, positioning Europe as a key market for post-consumer recycled plastics during the forecast period of 2022-2029.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-post-consumer-recycled-plastics-market
The Prominent Key Players Operating in the Global Post-Consumer Recycled Plastics Market
Include:
- Veolia (France)
- SUEZ (France)
- WM Intellectual Property Holdings, L.L.C. (U.S.)
- Stericycle (U.S.)
- CLEAN HARBORS, INC. (U.S.)
- REMONDIS SE & Co. KG (Germany)
- Biffa (U.K.)
- DS Smith (U.K.)
- Eco-Products, Inc. (U.S.)
- Placon (U.S.)
- Amcor plc (Australia)
- Alpha Packaging (U.S.)
- Seventh Generation Inc. (U.S.)
- Mondi (Austria)
- Berry Global Inc. (U.S.)
- Sealed Air (U.S.)
- Coveris (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global post-consumer recycled plastics market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Post-Consumer Recycled Plastics Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
