The recycled plastics market will be worth more than $30 billion by 2025

The recycled plastics market will be worth more than $30 billion by 2025

The Sustainability Market Research (PMR), in its forthcoming report entitled The Recycled Plastics Market: Global Industry Analysis 2012-2016 and Forecasts 2017-2025, predicts the market will be worth just over $30 billion by 2025.

The market share of polyethylene terephthalate and hdpe resins is close to two-thirds of the recycled plastics market, and they should receive 180 and 40BPS respectively, mainly at the expense of other resin varieties.Polyethylene terephthalate is popular mainly because of its low price and wide use.Similarly, most of the plastic waste produced, including margarine tubes, grocery bags and detergent bottles, contains HDPE.The application-packaging industry is in great demand for recycled plastics

Depending on the type of application, the packaging industry will have the largest share of the recycled plastic market in both value and quantity.The packaging industry is in great demand for recycled plastic because most of the waste is produced by the packaging sector and then recycled to make PET containers, bottles, carpet fibers and clothing.It is forecast that the packaging industry's CAGR will reach 4.8% over the forecast period.Companies such as Nestle and Coca-Cola have begun packaging drinks in recycled plastic bottles and have pledged to use more recycled plastic in their drinks bottles than pure plastic.

Renewable plastics market for high growth source plastic bottles

Plastic bottles are expected to reach a CAGR of 4.8 per cent between 2017 and 2025, and should exceed 17KT by the end of the eight-year study, leaving key stakeholders in the recycled plastic market to target.

Region -- A PEJ focusing on the recycled plastics market

A PEJ is expected to drive sales growth in the recycled plastics market during the forecast period, bringing the total incremental opportunity in the populous continent to nearly $3.3 billion.Consumption of recycled plastic products is concentrated in A PEJ, particularly in the construction and packaging sectors.In China, raw material supplies are minimal, leading to increased consumption of recycled plastic.

Rapid adoption of recycled plastics in the packaging and textile sectors could drive the development of the recycled plastics market in the near future.The construction and auto industries also experienced a boom, which in turn boosted spending on safe plastic products, directly benefiting from demand for recycled plastics.In short, industrial production in emerging economies contributes to the global market for recycled plastics.