“Post-Consumer Recycled Plastics Market by Source (Bottles, Non-Bottle Rigid), Polymer Type, Processing Type (Mechanical, Chemical, Biological), End-use (Packaging, Building & Construction, Automotive, Electronics), and Region-Global Forecast to 2029” projects that the post-consumer recycled plastics market will reach USD 106.97 billion by 2029, with a compound annual growth rate (CAGR) of 8.4%. Many reasons are driving the need for post-consumer recycled plastics. Recycling and the use of eco-friendly materials are receiving more attention as a result of growing environmental consciousness and the desire to minimize plastic waste. Governments everywhere are supporting this trend by enforcing strict laws designed to lessen plastic pollution, which forces businesses to employ recycled plastics in their goods. Companies are also setting new sustainability goals at the same time, which has improved the use of recycled post-consumer material in their goods. Customers are also playing a vital part in meeting this need as they are pressuring producers to use more recycled plastics due to their choice for sustainable and eco-friendly products.
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• 150 Market data Tables
• 60 Figures
• 290 Pages and in-depth TOC on “Post-Consumer Recycled Plastics Market– Global Forecast to 2029″
Some of the prominent key players are:
- Veolia (France),
- Suez SA (France),
- WM Intellectual Property Holdings, L.L.C. (US),
- Republic Services (US),
- Waste Connections, Inc. (Canada),
- Biffa (UK), and many more….
Opportunity: Growing demand for plastic waste management in emerging economies
In industrialized economies like North America and Europe, the market for plastic garbage has reached a saturation point. Waste is not properly collected, transported, or disposed of in poor nations. Landfills overflow because waste is frequently disposed of on the edges of towns and cities. Markets like India, Argentina, South Africa, Brazil, and Middle Eastern nations are expected to increase throughout the projected period, even if the North American and European markets have achieved growth saturation. Rapid urbanization and economic expansion are occurring in emerging nations, which also provide encouraging prospects for building recycling infrastructure and meeting the growing demand for recycled materials. The majority of these markets see rising rates of waste creation as a result of industrialization, urbanization, and changing consumer habits. There is an unrealized potential to create effective and sustainable recycling systems in these areas as waste management becomes a major problem, which would further propel the market for post-consumer recycled plastics.
By End-use Application, Packaging accounts for the fastest-growing application during the forecast period.
Because of the packaging industry’s enormous impact on addressing sustainability challenges, recycled plastics are largely used in packaging. This industry has a significant need for post-consumer recycled plastics because of the increased emphasis on reducing plastic waste and encouraging environmental responsibility. Packaging makers can meet customer needs for environmentally friendly products and contribute significantly to circular economy initiatives by using recycled plastics. Because of their versatility, recycled plastics may be used in place of virgin plastics in a variety of packaging styles, such as bottles, containers, and films. In addition to promoting a more sustainable business climate, this provides a workable way to lessen the negative environmental effects of packaging waste. But there are still issues that need for constant creativity and dedication.
Asia-Pacific is the largest market during the forecast period.
Asia-Pacific’s increasing urbanization and sizable population have made it the world’s largest market for post-consumer recycled plastics. Rapid urbanization in the area causes people to use plastic more often, which generates a significant amount of plastic waste. Post-consumer recycled plastics are essential to solving environmental problems since the need for sustainable waste management solutions increases with the size of cities. Recycled plastics are a desirable alternative for satisfying environmentally aware customer preferences and legal requirements because of the growing population and the resulting demand for consumer goods and packaging. These elements worked together to establish the Asia-Pacific market as a key player in the adoption and integration of post-consumer recycled plastics, leading to societies that are more resource-efficient and ecologically conscious.
