The global Recycled plastics market size is expected to reach USD 812.89 Billion in 2030 and register a CAGR of 6.1% over the forecast period, according to the latest report by Reports and Data. Key factors such as increasing demand for consumer goods and growing use of Recycled plastics in medical devices are driving market revenue growth. Recycled plastics or commodity polymers is a type of plastic produced in high quantities for different applications which do not require any special material property. These plastics are widely used in different end-use industries such as packaging, construction, consumer goods, automotive, electronics, textiles, medical pharmaceutical, and others. Packaging segment accounted for a majority revenue share in the global market in 2020.
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Competitive Landscape:
The global Recycled plastics market is extremely competitive and comprise of various key players at regional and global levels. These players are focusing on developing strategic alliances such as mergers and acquisitions, partnerships, product launches, joint ventures, to strengthen their market position and enhance their product base. Some of the key companies operating in the global market are ExxonMobil Corporation, LG Chem, Sumitomo Chemical Co. Ltd., The Dow Chemical Company and Others.
Global Recycled plastics Market Segmentation:
Type Outlook:
- PE
- PET
- PP
- PVC
Applications Outlook:
- Packaging
- Consumer Goods
- Automotive
- Electronics
Regional Analysis covers:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- K.
- Rest of EU
- Asia Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- South Africa
- A.E
- Rest of MEA
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Market Overview:
The packaging industry is rapidly expanding in terms of revenue in the recent years, and is expected to register rapid revenue CAGR throughout the forecast period of 2022 to 2030. Rapid revenue growth is attributed to factors such as rising global population, changing lifestyle, increasing disposable income and rapid growth of the e-commerce sector. Increasing penetration of internet, social media, improving standard of living and rapid growth in the doorstep deliveries are some other factors boosting global market revenue growth. In addition, various manufacturers are focusing on offering sustainable packaging to cater to rising environmental concerns. Local dealers are focusing on innovative packaging to attract consumers.
Key questions addressed in the report:
- What size is the global Recycled plastics market expected to reach over the forecast period?
- Which revenue CAGR is the global market expected to register throughout the forecast period?
- Which factors are expected to hamper global market growth during the forecast period?
- Which key factors are expected to driver global Recycled plastics market throughout the forecast period?
- Which application segment is expected to register fastest revenue CAGR between 2022 and 2030?
- Which region is expected to register fastest revenue CAGR throughout the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
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