Recycled Plastics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Recycled Plastics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, September 11, 2024 /EINPresswire.com/ -- The global recycled plastics market is anticipated to grow from $52.03 billion in 2023 to $54.52 billion in 2024, marking a compound annual growth rate (CAGR) of 4.8%. Despite historical challenges, including environmental and supply chain issues, the market is projected to reach $65.65 billion by 2028 at a compound annual growth rate (CAGR) of 4.8%, driven by increasing circular economy initiatives, corporate sustainability goals, and advancements in recycling technologies.

Growing Investor Awareness Fuels Recycled Plastics Market Growth

The rising awareness among investors regarding environmental protection is expected to be a significant driver of the recycled plastics market's growth. Effective environmental protection measures are crucial in reducing pollution and enhancing sustainability. A study by Mastercard Inc. highlights that 58% of adults have become more aware of their environmental impact, with 85% willing to take personal action to address these issues. This heightened awareness is likely to spur greater investment in recycled plastics as a means to promote environmental sustainability.

Explore comprehensive insights into the global recycled plastics market with a detailed sample report:
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Major Companies and Technological Trends

Leading companies in the recycled plastics market include Rethmann SE & Co. KG, Biffa Waste Services Limited, Stericycle Inc., Veolia India Private Limited, and Jayplas Limited, among others. These companies are at the forefront of developing innovative technologies to enhance the efficiency of recycling processes. For instance, Sumitomo Chemical Co., Ltd. introduced MeguriTM, a new line of recycled plastic products utilizing advanced recycling technologies.

In September 2021, Sumitomo Chemical Co., Ltd., launched MeguriTM, showcasing a range of products made from recycled plastics through chemical and material recycling techniques. This move exemplifies the industry's commitment to advancing circular economy principles and addressing social and environmental challenges.

Market Trends

Key trends shaping the recycled plastics market include:
Advanced Recycling Technologies: Innovations that improve the efficiency and effectiveness of recycling processes.
Eco-Friendly Packaging: Growing demand for sustainable packaging solutions.
Plastic-to-Fuel Conversion: Developing technologies for converting plastic waste into fuel.
E-Waste Recycling: Expanding recycling efforts for electronic waste.
Sustainable Fashion: Increasing use of recycled plastics in the fashion industry.

Market Segmentation

The recycled plastics market is segmented as follows:
By Type: Polyethylene Terephthalate, Polyvinyl Chloride, Polyethylene, Polypropylene, Polystyrene, Other Types
By Source: Plastic Bottles, Plastic Films, Plastic Foams, Plastic Fibers, Other Sources
By Application: Packaging, Textile, Automotive, Building and Construction, Electrical and Electronics, Other Applications

Regional Insights: Asia-Pacific Leading The Market
Asia-Pacific led the recycled plastics market in 2023 and is expected to continue its dominance. North America is forecasted to be the fastest-growing region during the forecast period, driven by increasing investments in recycling infrastructure and technology.

Access the complete report for an in-depth analysis of the global recycled plastics market:
https://www.thebusinessresearchcompany.com/report/recycled-plastics-global-market-report

Recycled Plastics Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Recycled Plastics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on recycled plastics market size, recycled plastics market drivers and trends, recycled plastics market major players, recycled plastics competitors' revenues, recycled plastics market positioning, and recycled plastics market growth across geographies. The recycled plastics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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