Plastic Recycling Market is driven by the increasing environmental awareness among the people – Says GIS Analyst
Global Plastic Recycling Market report from Global Insight Services is the single authoritative source of intelligence on Plastic Recycling Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Plastic recycling is the process of recovering scr*ap or waste plastic and reprocessing the material into useful products. Since the vast majority of plastic is non-biodegradable, recycling is a part of global efforts to reduce plastic in the waste stream, especially the approximately 8 million tons of waste plastic that enters the Earth’s ocean every year.
Key Trends
The key trends in plastic recycling technology are higher throughputs, better quality material, lower energy consumption, and lower costs.
Higher Throughputs: Newer plastic recycling technologies are capable of processing larger amounts of material faster than ever before. This is important because it allows recycling facilities to keep up with the ever-increasing demand for recycled plastic.
Better Quality Material: Newer plastic recycling technologies are also able to produce a higher quality recycled plastic. This is important because it allows recycled plastic to be used in a wider variety of applications.
Lower Energy Consumption: One of the biggest trends in plastic recycling technology is the move towards lower energy consumption. This is important because it reduces the environmental impact of plastic recycling and makes it more cost-effective.
Lower Costs: Another big trend in plastic recycling technology is the move towards lower costs. This is important because it makes recycled plastic more affordable and thus more likely to be used.
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Key Drivers
The key drivers of the plastic recycling market are the increasing environmental awareness among the people and the stringent government regulations regarding the waste management. The people are now more conscious about the harmful effects of the plastic waste on the environment and are demanding for the better recycling facilities. The government is also taking various measures to reduce the plastic waste and promote the recycling of the plastic.
Market Segments
The plastic recycling market report is bifurcated on the basis of source, type, end-use industry, and region. On the basis of source, it is segmented into films, fibers, foams, and others. Based on type, it is analyzed across polyethylene (PE), polypropylene (PP), polystyrene (PS), and others. By end-use industry, it is divided into packaging, textile, automotive, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Players
The plastics recycling market report includes players such as Veolia, Suez, Jayplas, Alpek, Biffa, Republic Services, Stericycle, KW Plastics, B. Schoenberg & Co., and B&B Plastics.
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