About Plastic Scrap Recycling
Growing awareness about the pollution caused by plastic will help to boost global plastic scrap recycling market. Plastic scrap recycling is the process of recovering scrap or waste plastic and reprocessing the material into useful products. The energy saving benefits in the manufacturing of recycled plastics over virgin plastics. These are the driving factors of the global market. Accessibility of clean feedstock, coupled with growing consumer demand, followed by stringent regulations is likely to bolster the global plastic scrap recycling market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
CAGR | 5.6% |
The business is highly fragmented with several small companies entering the global graphing calculator market. However to gain market share in upcoming year manufacturers have shifted their preferences towards up gradation such as advance technological development, new product launch. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Plastic Scrap Recycling market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Veolia (France), Suez (France), KW Plastics (United States), Jayplas (United Kingdom), B. Schoenberg & Co. (United States), B&B Plastics (United States), Green Line Polymers (United States), Clear Path Recycling (United States), Custom Polymers (United States) and Plastipak Holdings (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Kuusakoski Oy (Finland), Envisison Plastics (United States) and Plasgran Ltd. (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Plastic Scrap Recycling market by , Application (Packaging, Automotive, Construction and Textiles) and Region.
On the basis of geography, the market of Plastic Scrap Recycling has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Material, the sub-segment i.e. Polyethylene Terephthalate (PET) will boost the Plastic Scrap Recycling market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Bottles will boost the Plastic Scrap Recycling market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Negative Environmental Impact of Plastics Disposal and Increasing Use in Packaging, Automotive, And Electrical & Electronics Industries
Market Growth Drivers:
Growing Awareness Regarding Energy Savings and Demand For Recycled PET and HDPE Plastics to Remain High
Challenges:
Ban on Imports Of Waste Or Scrap Plastics In China
Restraints:
Stringent Competition from Virgin Plastics
Opportunities:
Favorable Initiatives to Promote the Use of Recycled Plastics in Developed Countries and Increasing Use in Textile Industry in Developing Countries of APAC
Market Leaders and their expansionary development strategies
In February 2024, LyondellBasell Industries, headquartered in Rotterdam, the Netherlands, has recently made a significant move in the realm of plastic recycling. The company announced its acquisition of mechanical recycling assets and properties containing rigid plastics recycling processing lines from PreZero, a globally recognized leader in recycling and waste management services. This strategic transaction involves the leasing of a processing facility located in Jurupa Valley, California, boasting an impressive production capacity of approximately 50 million pounds per year for recycled materials.
In March 2019, Nestlé and Veolia are collaborated for covering plastic waste collection, sorting, and recycling, focusing in particular on flexible plastic packaging, in eleven priority countries in Asia, Africa, Latin America and Europe.
Key Target Audience
Government and Research Organizations, Associations and Industrial Bodies, Research and Consulting Firms, R&D Institutions, Environment Support Agencies, Investment Banks and Private Equity Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.