Plastic Recycling Market - Overview
Plastic recycling is a process of collecting plastic scrap or waste and reprocessing it into useful products. It may also be defined as the process of cleaning, sorting, and processing pre-consumer or post-consumer plastic waste into resins for various applications. Plastic scrap can be rigid (bottles, containers, furniture, etc.) and non-rigid (films, wrappers, pliable sheets, etc.). Plastic is non-biodegradable; recycling plays an important role in reducing plastic in the waste stream.
Based on material type, the plastic recycling market has been segmented into PET, PP, HDPE, LDPE, PS, PVC, and others. HDPE is a highly recycled plastic. It accounts for more than 30% share of the global plastic recycling market. HDPE is employed in various applications such as bottles, bottle caps, cable insulations, fuel tanks for automobiles, camera lenses, pipes, containers, storage sheds, and printing filaments. HDPE is also the most recycled polymer in the world, due to its high recyclability and strength. PET is largely recycled into PET fibers and yarns for textile applications. However, most plastics end up as construction products such as plastic lumber, landscaping furniture, and roof & floor tiles. Post-consumer polyethylene terephthalate (PET or PETE) containers are sorted into different colors. PET recyclers further wash and clean the flakes. The clean flake is dried, melted, reprocessed and then converted into useful products such as bottles, sheets, straps, monofilaments, master batches, injection molded articles, polyester staple fibers, and partially oriented yarns. rPET is widely used in the production of polyester fibers.
Based on application, the plastic recycling market has been segmented into packaging, automotive, construction, textile, and others (industrial, consumer goods, etc.). Plastic packaging is usually carried out in two forms: rigid packaging and flexible packaging. Rigid packaging usually includes containers, rigid bottles, and boxes, while flexible packaging comprises plastic wraps, carrier bags, sachets, packets, and covers. The construction industry has been using plastics since decades, as they are light in weight and durable. The construction industry primarily employs plastics in pipes (especially PVC pipes), cable insulations, storage tanks, roofing and roof decks, windows and doors, guard rails, fences, floor tiles, and hardware accessories.
In terms of region, the global plastic recycling market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of demand, Asia Pacific was the leading region of the global plastic recycling market in 2017. Large scale production of plastic trash and availability of cheap labor are key factors driving the demand for recycled plastic in the region.
The report analyzes and forecasts the market for plastic recycling at the global and regional levels. The market has been projected in terms of volume (kilo tons) and revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global plastic recycling market. It also covers the impact of these drivers and restraints on demand for plastic recycling during the forecast period. The report also highlights opportunities for expansion of the plastic recycling market at the global and regional levels.
The report comprises detailed value chain analysis, which provides a comprehensive view of the global plastic recycling market. Porter’s Five Forces model for the plastic recycling market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein application segments have been benchmarked based on their market value, growth rate, and general attractiveness.
The study provides a decisive view of the global plastic recycling market by segmenting it in terms of material, application, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for recycled plastic in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual application segments of the market in all the regions.
The study includes profiles of major companies operating in the global plastic recycling market. Key players profiled in the report are Kuusakoski, B&B Plastics Inc., CarbonLite Industries LLC, Custom Polymers Inc., Dart Container Corporation, Fresh-Pak Corp, Novolex, KW Plastics, MBA Polymers UK Ltd., PLASgran Ltd., Plastipak Holdings, Inc., WM Recycle America LLC, and Wellpine Plastic. Market players have been profiled in terms of attributes such as company overview, business strategies, recent developments, and SWOT analysis.
The report provides the estimated market value of the global plastic recycling market for 2018 and forecast for the next eight years. Market numbers have been estimated based on material, application, and region. Market value and forecast for each material type and application segment have been provided for global and regional markets.
Plastic Recycling Market, by Material
Plastic Recycling Market, by Application
Global Plastic Recycling Market, by Region
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