PET Lucrative Resin Type in the Recycled Plastic Market
Polyethylene Terephthalate has maximum share in the recycled plastic market by resin type and is expected to grow at a robust rate over the course of the forecast period. This segment should gain 180 BPS from 2017 to 2025, making it an extremely attractive opportunity in the recycled plastic market. The Y-o-Y growth for all product segment could be in the range of 2-5% with the most growth witnessed in PET. PET is sought after for two main reasons – it is easily available in recycled waste scrap and it costs less when compared to other recycled plastics. In addition to this, the recycling rate of PET is high. The PET segment is anticipated to be worth approx. US$ 10.5 billion by end 2025.
High Density Polyethylene Close Second in Recycled Plastic Market
The high density polyethylene segment accounts for a third of the recycled plastic market by resin type and is on track to grow its share going forward. The HDPE segment is projected to record a moderate value CAGR of 4.5% from 2017 to 2025 and create a total incremental opportunity of more than US$ 2.5 billion between 2017 and 2025. High density polyethylene is attractive because a large portion of the plastic scrap such as grocery bags, margarine tubes, and detergent bottles, often consists of HDPE resins.
PA, PS, PVC Resin Types Predicted to Stifle Growth of Recycled Plastic Market
The low generation of tape cassettes, microwave, electrical appliances, thermal insulation, and battery cases i.e. waste containing resins including polyamides, polystyrene, and poly vinyl chloride are likely to decelerate the growth in the recycled plastic market. A lower amount of generated waste will cause a supply crunch of raw material that is the primary input feed material to manufacture recycled plastic and all of its ancillary products. Within the three resin types, minimal growth is projected in the PVC segment and it is the only one unlikely to cross a value of US$ 1 billion by the end of the forecast period. Furthermore, the recycling of plastic is at a nascent stage in some emerging economies where the majority of the plastic scrap is sent to other nations. PVC bottles in particular contain high doses of chlorine and other contaminates that act as an obstacle to recycling of these products.
Companies Driving the Shift Towards Use of Recycled Plastic Products
Prominent companies are playing a major role in promoting use of recycled plastic bottles in lieu of virgin plastic bottles. The Coca Cola Company has announced its intention to invest millions of pounds in its Lincolnshire manufacturing unit to ensure the use of 50% recycled plastic in all of its bottles. Smaller companies have also been inspired by this and a few have pledged to use 100% recycled plastic bottles by 2020. This may well fuel the global recycled plastic market in the medium term. Nestle Waters North America has begun to manufacture PET bottles from recycled plastic and these bottles are 100% recycled plastic with the company aiming to increase the recycling rate of plastic bottles to 60% by end 2018. The Dow Chemical Company has been able to successfully harness energy from recycled plastic. This process reduces the consumption of natural gas and is a renewable and environmentally-friendly method of energy harvesting.
The research report titled ‘Recycled Plastic Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)’ prepared by Persistence Market Research covers all aspects of the recycled plastic market that the reader can use to gauge market potential. The report can be immensely helpful in gaining a firm grasp of the recycled plastic market taking into account growth and the key strategies coupled with the execution thereof. The report allows the reader to understand ever-changing dynamics in order to maintain a competitive edge in the recycled plastic market.
Global Angle in a Nutshell
The recycled plastic market report focuses on the diverse drivers, restraints, trends, and opportunities that await key stakeholders in all studied regions. Thus, a global perspective with adequate coverage of all important countries can be expected to provide a holistic picture of the recycled plastic market. The reader can thereby get an in-depth understanding of the regions that hold the maximum potential to make long-term expansion strategies and business decisions. The research report can be relied on to present an accurate image of the recycled plastic market.
Recycled Plastic Market Taxonomy
Class-leading Research Methodology
The credibility of the mentioned data points and statistics is wholly dependent on the robust and fool-proof research methodology devised by Persistence Market Research. The recycled plastic market report is underpinned by an exhaustive research process comprising of both primary and secondary research to extract important numbers. The data is then sent through multiple funnels of reexamination and validation at every step of the process to ensure nothing less than the highest degree of correctness. Expert opinions of domain experts and market observers are extrapolated and triangulated to arrive at the best possible representation of the global recycled plastic market.
The research report on the recycled plastic market consists of a chapter dedicated to the competitive landscape that exists in the recycled plastic market. This section covers the important companies and their position in the global recycled plastic market. A product synopsis, long and short-term strategies, key developments, new innovations, expansion tactics, area-wise presence, financials, important personnel, and revenue of these companies is provided in an attractive, simple-to-understand dashboard format. The competitive assessment goes a long way in allowing report readers to conduct a competition SWOT analysis and draw the required conclusions in the recycled plastic market. This section is critical for both incumbents as well as new entrants seeking to enter the recycled plastic market.
This comprehensive study on the recycled plastic market has a detailed analysis that can prove valuable indeed. The research team at Persistence Market Research has years of experience in the field and they consider it their mission to gather all the qualitative and quantitative data of all studied markets.
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