The global recycled plastic market size is expected to witness significant growth backed by increasing demand from the packaging industry. Fortune Business Insights, in its latest report, titled “Recycled Plastic Market Size, Share & Industry Analysis, By Type (Polyethylene Terephthalate, High-density Polyethylene, Polypropylene, Low-density Polyethylene, and Others), By Application (Non-Food Packaging, Food Packaging, Construction, Automotive, and Others), and Regional Forecast, 2019-2026.”, predicts that the market is likely to hit USD 72.6 billion by 2026 while exhibiting a CAGR of 8.55% between 2019 and 2026. The reports further observe that the market was worth USD 37.8 billion in 2018.
According to the data by the non-profit organization, Plastic Oceans International, every year around 500 billion plastic bags are used globally. This means that over 1 million bags are being used every minute. Plastic is harmful to the environment in many ways and since most of the plastic material is non-biodegradable, it is important to find a solution to reduce the rampant production of plastic across the globe. Therefore, recycling of the plastic to enable its reuse is vital to prevent environment degradation. Plastic is used across several industries such as packaging, food & beverage, pharmaceuticals, consumer goods, construction, and automotive, among others. A holistic approach to adopt recycled plastic from the end user industries will ensure the safety of the environment.
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List of the Key Companies Operating in the Recycled Plastic Market are:
- KW Plastics
- Veolia
- Custom Polymers
- Plastipak Holdings
- The Coca-Cola Company Incorporated
- Suez
- B. Schoenberg & Co.
- Fresh Pak Corporation
- B&B Plastics
- Green Line Polymers
- Ultra Poly Corporation
- Clear Path Recycling
- Jayplas
- MBA Polymers
- RJM International Inc.
- CarbonLite Industries LLC
- Envision Plastics Industries LLC
- ReVital Polymers
- Other Players
Browse Detailed Research Insights:
https://www.fortunebusinessinsights.com/recycled-plastic-market-102568
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