Global post-consumer recycled plastic market is predicted
Visiongain released a new report titled The Post-Consumer Recycled Plastic Market Report 2021-2031: Forecast by category (plastic bottles and films, rigid plastics without bottles), by treatment (mechanical, chemical, biological), by application (packaging, building and construction, automotive, electronics, other), by type of polymer (polypropylene (PP) , low density polyethylene (LDPE), high density polyethylene (HDPE), polyethylene terephthalate (PET), polyvinyl chloride (PVC), other), by department Collection and transport, recycling, incineration, landfill) AND regional and national market principal Analysis PLUS Analysis of leading companies AND COVID-19 recovery scenarios.
The global post-consumer recycled plastic market was valued at US $ 14,087 million in 2020 and is expected to grow at a CAGR of 9.0% during the forecast period 2021-2031. In order to set up suitable sorting mechanisms, manufacturers are identifying new sorting and collection infrastructures for mixed plastics in recovery plants. The number of materials recovered in these facilities is directly proportional to the efficiency of the selection process.
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How has COVID-19 had a significant negative impact in the Post-Consumer Recycled Plastic Market?
The corona virus outbreak has created global trade disruptions. The World Trade Organization and United Nations governments have put in place temporary trade measures, according to the International Trade Center, restricting exports and liberalizing imports of essential medical devices and supplies. These products are made from plastics and plastics. Some of the main sources of US plastics imports, including China and Vietnam, have imposed temporary trade limits.
The COVID-19 system has suffered from plastic recycling, just as big oil companies are investing in the production of new plastics by the hundreds of billions. These investments greatly exceed the industry’s spending on plastic waste. The coronavirus pandemic has caused a plastic rush. Demand for face shields, gloves, take-out food containers and bubble wrap for online shopping has increased from Wuhan to New York. Since most of this is not recyclable, garbage is not. There is, however, a different result. The epidemic has exacerbated the price battle between recycled plastics and new oil-producing plastics. It’s a war recycler the whole world is losing, as price data and interviews with more than two dozen companies across five continents show. 88 countries have put in place export restrictions and bans on products, including personal protective equipment – masks, gloves – pharmaceuticals, hand sanitizers, food and other products. South Korea, for example, with effect from April 14, 2020, restricts mask exports. Simultaneously, from April 14, 2020 to June 30, 2020, it removed import taxes on masks.
How will this report help you?
Visiongain’s 600+ page report provides 410 tables and 402 tables / charts. Our new study is suitable for anyone who needs in-depth business analysis for the global post-consumer recycled plastic market, as well as a detailed analysis of the market segments. Our new study will help you assess the overall global and regional post-consumer recycled plastic market. Get the financial analysis of the overall market and different segments including category, processing, application, service and capture higher market share. We believe there are still great opportunities in this rapidly growing post-consumer recycled plastic market. Find out how to use the existing and upcoming opportunities in this market to generate income in the near future. Moreover, the report would help you improve your strategic decision making, enabling you to frame growth strategies, strengthen the analysis of other market players and maximize the productivity of the company.
What are the current market drivers?
Reduced environmental impact thanks to plastic recycling
Recycled resins have attractive technical characteristics and can be used in a variety of applications. It has almost as many applications as raw plastic: bottles, fabrics, packaging, automotive, household items, construction, etc. About 10% of global plastic demand is met by recycled plastics. However, other applications are more difficult to manage due to technical or regulatory constraints. Food quality certification, for example, requires a raw material with extremely high traceability. It is also difficult to replace some plastics that can withstand extremely high pressures with 100% recycled resins. Remember that in the past, plastic users bought recycled plastic because it was cheaper than virgin plastic.
Increase in the use of recycled products to produce packaging materials
There are many benefits of using recycled plastics in today’s green climate, both for business and for the environment. Can increase economic returns to business and assets and establish a positive image by engaging in sustainable initiatives. One ton of recycled plastic saves 5,774 kilowatt-hours of energy, 16.3 barrels of oil, 98 million BTUs of energy and 30 cubic meters of landfill space. Plastic does not need to be remade repeatedly, resulting in more pollution. Recycling is the most effective technique for reducing the volume of waste that accumulates in landfills, which is becoming increasingly problematic. The amount of oil used in the production of plastic is reduced. Energy consumption related to manufacturing is reduced. CO2 emissions are reduced thanks to the product. Recycling plastics keeps them out of landfills and allows them to be reused in the creation of new products. One ton of recycled plastic saves 7.4 cubic meters of landfill space.
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Where are the market opportunities?
Growing demand for plastic waste management from emerging economies
The plastic market is growing rapidly due to its unique characteristics and wide range of uses. Plastic waste, which is not biodegradable and produces significant greenhouse gas emissions, is becoming increasingly popular, creating a huge danger to the environment. The United States is a major producer of plastic waste in the world. The country’s plastic recycling rate is quite low compared to the country’s overall plastic waste production. The majority of plastic waste produced in the United States is sent to countries such as China, Hong Kong, Ecuador, Colombia, Indonesia, Vietnam and Thailand, where it is recycled, transformed into energy or dumped in landfills.
Opportunities for the chemical industry
The polymer chains that make up plastic contain a lot of intrinsic energy. It is a source of energy that has remained largely unexplored to this day. Recycling rates in the United States remain low; Burning is the best-known technique for reducing plastic waste, although it is often more costly and environmentally hazardous than landfill. Although mixed plastics can be burned for energy, this process frequently produces carcinogenic compounds and pollutes the environment. As a result, only 12% of waste in the United States is burned. In addition, incineration does not make it possible to fully exploit the potential of these polymers.
The main players operating in the post-consumer recycled plastic market are Veolia Environnement SA, Suez Environnement, Waste Management, Inc, Republic Services, Inc, Stericycle Inc, Waste Connections, Clean Harbors Inc, Biffa PLC, DS Smith plc, Mondi PLC, Berry Global Group Inc, Huhtamaki Oyj, Sealed Air Corp, Sonoco Products Co, Amcor PLC, Smurfit Kappa Group Plc, Coveris Group, Genpak LLC, Placon Corporation, Eco-Products Inc., These major players operating in this market have adopted various strategies including mergers and acquisitions, R&D investments, collaborations, partnerships, business expansion and new product launches.
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