The global recycled plastic market share size is projected to reach USD 72.6 billion by the end of 2026. The increasing concerns surrounding global warming and environmental pollution due to excessive plastic usage has led to a subsequent demand for recycled material. According to a report published by Fortune Business Insights, 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,” the market was worth USD 37.8 billion in 2018 and will exhibit a CAGR of 8.5% during the forecast period, 2019-2026.
Recycled Plastic are products that are made from waste or scrap. The products possess the same properties as normally made plastics and are capped at the same price. The increasing need for recycling of materials, accounting to the depletion of natural resources has created a subsequent demand for Recycled Plastic. As a result, high investments are made in Recycled Plastic and not just by private companies, but also by government organizations. Since most of the plastics used across the world are not degradable, recycling provides an easier and easier alternative to disposing of these non-degradable plastics. This will reduce wastes significantly and cater to increasing concerns regarding environmental preservation. The increasing efforts taken to maximize recycle plastic use will have a direct impact on the growth of the market in the coming years.
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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
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