72.6 billion USD recycled plastics market by 2026 |

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Pune, India, October 7, 2021 (GLOBE NEWSWIRE) – According to Fortune Business Insights â„¢, The global recycled plastics market the size is expected to reach $ 72.6 billion by the end of 2026. The presence of several large companies across the globe will positively impact the growth of the market in the years to come. The recycled plastics industry was worth USD 37.8 billion in 2018 and will post a CAGR of 8.5% during the forecast period, 2019-2026.

Key Market engine:

Recycled plastics are products that have the same properties as virgin plastics, but are made from trash and waste. The main objective of recycled plastics is to reduce total waste and reduce the harmful effects of plastic waste on environmental pollution. The emphasis on manufacturing methods as well as materials associated with recycled plastics will emerge in favor of companies operating in the market.

The increasing demand for the product, resulting from its widespread applications in various industries, will help in the growth of the market. Given the serious effects of plastic waste on the environment, governments around the world have imposed strict regulations on its use.

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Increased efforts to maximize the use of recycled products will drive growth

The report encompasses several factors which have contributed to the growth of the market in recent years. Plastic waste has a serious effect on the environment, especially the aquatic environment and wildlife. As a result, several large companies are teaming up to minimize the use of plastic and raise awareness of its negative effects. In March 2019, Coca Cola, Nestlé and Unilever formed the African Alliance for Plastics Recycling. This alliance was formed with the goal of bringing about a change in the plastic recycling infrastructure across sub-Saharan Africa. This alliance will not only influence the regional market, but also have a direct impact on the growth of the global market.

Asia-Pacific to become dominant; Strong demand for bottled water to create multiple growth opportunities

The report analyzes current beer market trends in North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Among these regions, the Asia-Pacific market is expected to become dominant in the coming years. The presence of several bottled water manufacturers will promote the growth of the recycled plastics market. Besides Asia-Pacific, the market in North America will experience considerable growth in the coming years thanks to the increasing number of government initiatives. In 2018, the market in North America was worth 2.45 billion USD and this value is expected to increase further in the coming years, due to the high awareness of the use of plastics.

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The list of companies currently operating in the global recycled plastics market are:

  • Moisture shield
  • Berkshire Hathaway Incorporated
  • BioCore LLC
  • CarbonLite Industries LLC
  • The Coca-Cola Company Incorporated
  • Coll Incorporated Materials
  • Custom polymers incorporated
  • Dart Container Corporation
  • Entropex
  • Envision Plastics Industries LLC
  • Fresh Pak Corporation
  • Hilex Poly LLC Company
  • Illinois Tool Works Incorporated
  • KW Plastics
  • Marglen Industries Incorporated
  • Mohawk Industries Incorporated
  • MRC Polymers Incorporated
  • NextLife Recycling LLC
  • Omni Resource Recovery Incorporated
  • Kentucky Incorporated Parallel Products
  • PARC Company
  • Peninsula Plastics Recycling Incorporated
  • PET Processors LLC
  • Phoenix Technologies International LLC
  • Plastic revolutions incorporated
  • Plastipak Holdings Incorporated
  • Polychem Company
  • Total SA
  • PolyQuest Incorporated
  • Reynolds Group Holdings Limited
  • Schupan & Fils Incorporated
  • Trex Incorporated
  • Wellman Plastics Recycling LLC
  • WTE COMPANY
  • Other players

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