NEW
YORK, May 20, 2024 /PRNewswire/ -- The
global rigid recycled plastics market size is estimated
to grow by USD 22.12 bn from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of almost 6.88% during the forecast
period.
For more insights on the forecast market size and historic data
(2018 - 2022) - Download Free sample report in a
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (PET, HDPE, PP,
LDPE, and Others), End-user (Packaging, Construction, Automotive,
Electrical and electronic components, and Others), and Geography
(APAC, Europe, North America, Middle East and Africa, and South
America)
|
Region
Covered
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Key companies
profiled
|
Altium Packaging, B and
B Plastics Inc., Berry Global Inc., Covestro AG, Custom Polymers,
HAHN Kunststoffe GmbH, Imerys S.A., Indorama Ventures Public Co.
Ltd., J and A Young Leicester Ltd., Kuusakoski Oy, KW Plastics, MBA
Polymers Inc., NaturaPCR, PET Processors LLC, Remondis SE and Co.
KG, Republic Services Inc., Revolution Co., Ultra Poly Crop.,
Veolia Environnement SA, and Waste Connections Inc.
|
Key Market Trends Fueling Growth
Rigid recycled plastics play a significant role in the
automotive industry, particularly in structural, powertrain, and
exterior components. These materials are derived from polymer
foams, polypropylene (PP), and scraps, including shopping bags and
protective packaging. Complying with environmental regulations,
automakers utilize recycled plastics to reduce vehicle weight, fuel
consumption, and greenhouse gas emissions. Applications span across
various countries, such as China,
Germany, India, France, Italy, South
Korea, Japan, and
the United States. Technological
advancements in recycling processes expand the use of recycled
plastics in sectors like textiles, construction materials, and
consumer goods.
Market Challenges
• The European
Food Safety Authority (EFSA) and the Food and Drug Administration
(FDA) should assess the safety of rigid recycled plastics used in
food packaging. These regulatory bodies oversee food contact
materials through the Food Contact Notification Program and Food
Additive Regulations (21 CFR Sections 170 et seq.). Although FDA
regulations require recycled food contact materials to meet the
same specifications as conventional ones, a special regulatory
review is not mandated. Compliance with FDA Good Manufacturing
Practices (GMP) for food contact materials (21 CFR Section 174) is
essential. Key applications of rigid recycled plastics include
decks, downcycling, dry-cleaning bags, electrical &
electronics, expanded polystyrene, face masks, fences, food &
beverage packaging, garbage bins, gloves, insulation, laboratory
equipment, medical devices, milk cartons, piping systems, plastic
bottles, and piping systems.
Research report provides comprehensive data on impact of trend,
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Segment Overview
This rigid recycled plastics market report extensively covers
market segmentation by
- Type
- 1.1 PET
- 1.2 HDPE
- 1.3 PP
- 1.4 LDPE
- 1.5 Others
- End-user
- 2.1 Packaging
- 2.2 Construction
- 2.3 Automotive
- 2.4 Electrical and electronic components
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 PET- The recycling process of Polyethylene
Terephthalate (PET) involves the transformation of modified
ethylene glycol and purified terephthalic acid into pellets, which
are then utilized in various industries. Rigid recycled plastics,
specifically PET, are extensively used in manufacturing decks,
downcycled into lower-grade products such as fibers for winter
clothing, and in creating face masks, among other applications. PET
plastics are favored for their fatigue resistance, light weight,
and shatterproof properties, making them suitable for use in
industrial strapping, insulation, piping systems, and packaging
material for food and beverage, pharmaceuticals, and non-food
packaging. Additionally, they are employed in the production of new
containers for various industries, including electronics, where
they contribute to energy savings through their light weight and
thermostability. Expanded polystyrene, oils, and garbage bins are
other applications for recycled PET plastics. The growing awareness
of plastic waste reduction and favorable initiatives have led to an
increase in the use of recycled PET in new plastics and non-food
packaging, such as milk cartons and plastic bottles. Furthermore,
recycled PET is used in the production of packaging foam and
sheets, laboratory equipment, and even in the manufacturing of
plastic hinges and fixtures. In the electronics industry, recycled
PET is used in the production of electrical & electronics,
including dry-cleaning bags, laptop cases, and electronic trimmers.
The recycling of PET plastics also contributes to reducing plastic
wastes in landfills and oceans, making it a sustainable and
eco-friendly alternative to new plastics. In conclusion, the
recycling of PET plastics offers numerous benefits, including cost
savings, light weight, and the ability to be recycled multiple
times. It is used in a wide range of applications, from industrial
strapping and insulation to food packaging and electronics, making
it a versatile and essential material in today's market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Rigid Recycled Plastics Market is experiencing significant
growth due to increasing consumer awareness towards plastic
consumption and the need for lightweight components in various
industries. This trend is particularly prominent in packaging
products for online purchases of electrical & electronics,
personal care products, and protective gear like gloves and face
masks. Recycled plastics, such as those made from recycled polymer
materials like Polyethylene terephthalate (PET), High-density
polyethylene (HDPE), Polypropylene (PP), and Low-density
polyethylene (LDPE), are becoming increasingly popular as they
offer energy savings and contribute to reducing the demand for new
plastics. The market for recycled plastics is further boosted by
the downcycling and use of recycled plastic in the production of
new plastics. The shift towards using recycled plastics is a
positive step towards reducing virgin plastic consumption and
promoting sustainable practices.
Market Research Overview
The Rigid Recycled Plastics Market encompasses the production,
consumption, and trade of recycled rigid plastics. These plastics
are derived from various sources, including post-consumer and
post-industrial waste. The market is driven by the increasing
demand for sustainable and eco-friendly solutions in various
industries, such as packaging, construction, and automotive. The
use of recycled rigid plastics offers several benefits, including
cost savings, resource conservation, and reduced greenhouse gas
emissions. The market is segmented based on the type of rigid
plastics, such as polyethylene terephthalate (PET), high-density
polyethylene (HDPE), and polypropylene (PP). The global rigid
recycled plastics market is expected to grow significantly in the
coming years due to the increasing awareness and regulations
regarding waste management and recycling.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- End-user
-
- Packaging
- Construction
- Automotive
- Electrical And Electronic Components
- Others
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio