Global Plastic Recycling Market is Projected to Substantiate Between 2023 to 2033; With an Emphasis on Environmental Sustainability | Future Market Insights, Inc.

NEWARK, Del: The global plastic recycling market is expected to embark upon an assiduous journey between 2023 and 2033.

The market is witnessing an increasing demand for packaging materials that could be rendered safe for usage in food & beverages. This, in turn, calls for rising utilization of recyclable polymers. As such, recycled polyethylene terephthalate is highly preferred in water and beverage packaging bottles.

The end-user verticals include medical devices and automotive verticals (apart from construction and electrical & electronics verticals). In the automotive vertical, governments are intervening to lower the gross weight of the vehicle, enhance fuel efficiency, and ultimately lower carbon emissions. Thus, automotive OEMs are compelled to deploy plastic as a replacement for metals like aluminum and steel.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report: https://www.futuremarketinsights.com/reports/sample/rep-gb-6048

Future Market Insights has etched these facts with future prospects in its latest market study entitled ‘Plastic Recycling Market’. It has its determined team of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.

 “With demand for cost-effective consumer electronic products like mobile, laptop, modems, and several others through e-Commerce, the global plastic recycling market is expected to grow on a remarkable note in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from Plastic Recycling Market

• North America holds the largest market share with automobile and packaging verticals witnessing an ever-increasing demand.
• Europe holds the second-largest market share. This could be credited to an exorbitant demand for goods from construction and automotive industries expanding at a significant rate. Also, the EU has regulations in place since the year 2021 for lowering usage of single-use plastics in this area.
• The Asia-Pacific is expected to hold more than 40% of the market share with the construction vertical growing on the back of expansion of schools, hospitals, and colleges.

To Gain More Insights about this Research, Visit: https://www.futuremarketinsights.com/reports/plastic-recycling-market

Competitive Recycling

• Veolia, in December 2021, did complete acquiring SUEZ, thereby turning out to be an ecological transformation champ.
• Jayplas, in July 2021, collaborated with Co-op Supermarket for running the region’s comprehensive in-store recycling program for product packaging and plastic bags.
• Indorama Ventures Public Ltd., in June 2021, completed the acquisition of Texas-based CarbonLite Holdings as a part of the former’s commitment toward expanding PET’s recycling capacity.
• WM Recycle America, LLC, in September 2022, did announce that it would purchase the US operations of Avangard Innovative. The newly formed company would be known by the name ‘Natura PCR’. It is expected to create 400 Billion pounds of PCR (post-consumer resin) every year.
• Plastipak Holdings, Inc., in January 2022, invested in design, manufacturing, and recycling of the plastic containers at Bascharage (Luxembourg).

Interested to Procure The Data? Inquire here: https://www.futuremarketinsights.com/reports/plastic-recycling-market#

What does the Report Cover?

• The research study is based on product (polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and likewise), by source (plastic films, plastic bottles, polymer foam, and likewise), and by application (building & construction, packaging, electrical & electronics, textiles, automotive, and likewise).
• With plastic being increasingly used in producing lightweight components, the global plastic recycling market is bound to grow on a stellar note in the forecast period.

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial: https://www.futuremarketinsights.com/checkout/6048

Have a Look at Related Reports of Chemicals & Materials Domain

Plastic Market: The plastic market share is anticipated to be valued at about US$ 885 Billion by 2032 end.

Plastic Additives Market: The plastic additives market is expected to undergo a significant transformation in the coming years.

Plastic Composites Market: Plastic composite is also named as wood-plastic composite. Plastic composites are compounds comprising of wood wastes and recycled plastic with features such as reduced melting temperature enabling lower energy costs for manufacturers as well as reduction of product footprint in the environment.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
Tel: +1-845-579-5705
LinkedIn | Twitter | Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com