Emphasis on Type (Polyethylene Terephthalate, High-Density Polyethylene, Polyvinyl Chloride, Low-Density Polyethylene, Polypropylene, Polystyrene, and Others); Source (Bottles, Films, Fibers, Rigid Plastics & Foams, and Others); Industry (Packaging, Consumer Goods, Construction, Textile, Transport, Electrical, and Others); and Region and Country
The global Recycled Plastics market was stood around $40 billion in 2020 and is expected to demonstrate the growth of ~6% during the forecast period (2021-2027). Globally, per capita plastic consumption is steadily increasing. It is estimated that more than 8.3 billion metric tons of plastic has been produced since the early 1950s, of which 60% has ended up in either a landfill or natural environment. Further, between 1950 to 2020, plastic production increased from 1.5 million metric ton to 367 million metric tons. So, if the same trend continues in the future year, by 2050 there will be about twelve billion tons of plastic in landfills and in the environment. Therefore, recycling of plastic is the need of the hour owing to which governments across the globe has taken various initiatives to promote plastic recycling. For instance, in 2017, Indonesia, because of a four-year campaign organized by citizens to get plastic bags banned in Bali, the governor signed a memorandum of understanding to phase out plastic bags by January 2018.
COVID-19 has affected the global plastic recycling operations. Since, recycling of plastic requires a fully efficient supply chain which had been disrupted in the light of COVID-19. Further, in order to curtail the spread of disease, government across the globe, had taken several stringent measures like lockdown which has resulted in the factory shutdown or operating with reduced number of manpower thus resulted in the low productivity. Further, collection of plastic is the first step of plastic recycling process, however, due to the agitation of disease, consumers are not willing to go outside, which has affected the collection of plastics as well.
Insights Presented in the Report
“Amongst type, polyethylene terephthalate category held prominent share in the market in 2020.”
Based on type, the market is categorized into polyethylene terephthalate, high-density polyethylene, polyvinyl chloride, low-density polyethylene, polypropylene, polystyrene, and others. Among these, polyethylene terephthalate accounted for considerable market share and is expected to showcase significant growth during the forecast period. Polyethylene terephthalate has high recycling rate owing to its less intricate recycling process along with they are among the most easily sorted and collected source of used plastics.
“Amongst source, bottles accounted for considerable market share in 2020”
Based on source, the market is categorized into bottles, films, fibers, rigid plastics & foams, and others. Of these, bottles accounted for substantial share in the market owing to large and increasing consumption of single use plastic bottles for drinking purpose. Further, bottles are used in several other industries like oil and carbonated drinks.
“Asia Pacific held the considerable market share owing to large amount of plastic waste generation in the region”
For a better understanding of the market adoption of Recycled Plastics, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of world. Asia Pacific accounted for substantial share in the recycled plastic market. The regional countries are among the world largest producer of plastic waste like China and India. Therefore, in order to reduce the plastic waste, these countries has taken various initiative to reduce, reuse and recycle plastic. This helps the region to attain considerable market share. Some of the major players operating in the market include Veolia, Suez, KW Plastics, Jayplas, B. Schoenberg & Co., Royal Dutch Shell Plc, Waste Connections, Covestro AG, Clear Path Recycling, and Custom Polymers.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Recycled Plastics Market Covid-19 Impact
6. Global Recycled Plastics Market Revenue (usd Bn), 2019-2027f
7. Market Insights By Type
8. Market Insights By Source
9. Market Insights By Industry
10. Market Insights By Region
11. Recycled Plastics Market Dynamics
12. Recycled Plastics Market Opportunities
13. Recycled Plastics Market Trends
14. Legal & Regulatory Framework
15. Demand And Supply Side Analysis
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Recycled Plastics three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Recycled Plastics industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Recycled Plastics through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Recycled Plastics market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by type, source, and industry. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Recycled Plastics globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Recycled Plastics. Further, we conducted factor analysis using dependent and independent variables such as increasing focus on circular economy and growing initiatives to reduce reliance of fossil fuels. A thorough analysis was conducted for demand and supply-side scenario considering increasing investment, top partnerships, merger and acquisition, business expansion, and product launches in the Recycled Plastics industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Recycled Plastics market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Recycled Plastics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, source, and industry.
The main objective of the Recycled Plastics market study
The current & future market trends of global Recycled Plastics were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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November 7, 2024
