About Recycled Plastic Products
Recycled plastic products are made from different types of recycled plastic. Manufacturing of products from recycled plastic has become a trend for the last decade to reduce greenhouse gas emissions, plastic waste, and promote sustainable living. In today’s time, clothes and other fashion items like polar fleece clothes, t-shirts, backpacks, and carpets made from recycled plastic are becoming more popular among consumers will create huge demand for recycled PET plastic. The high growth of plastic recycling rate in the countries like India, South Korea, and European countries due to the rapidly growing packaging industry in the region will create significant opportunities for the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Recycled Plastic Products market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
The Shakti Plastic Industries (India), Adidas (Germany), Patagonia (United States), Fab Habitat (United States), West Paw Inc. (United States), Preserve (United States), Recover Brands (United States), Suga, LLC (United States), Method Products, Ltd. (United States), Green Toys Inc. (United States) and Bureo (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Recycled Plastic Products market by Type (Clothes & Shoes, Building Materials, Packaging Material, Household Products and Others) and Region.
On the basis of geography, the market of Recycled Plastic Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). If we see Market by Plastic Type, the sub-segment i.e. PET will boost the Recycled Plastic Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Recycled Plastic Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Individuals will boost the Recycled Plastic Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Growth of PET Plastic Recycling Due to Growing Demand of Fashion Items and Textile Garments
Market Growth Drivers:
Surging Demand of Plastic Developing Countries Due to Rapidly Growing FMCG Sector Thereby Packaging Industry and Increasing Government Initiatives Towards the Plastic Recycling and Reusing to Manufacture Variety of Products
Challenges:
Inadequate Infrastructure Facilities for Recycling Plastic May Limit the Market Growth
Restraints:
Difficulty and High Cost Associated with the Recycling of Some Types of Plastics
Opportunities:
High Growth of Plastic Usage in Daily Usage Products and Medical Industry
Market Leaders and their expansionary development strategies
In December 2023, RTP Company (US) launched a new line of outdoor furniture made from 100% recycled plastic lumber. The furniture is designed to be durable and weather-resistant, making it a sustainable alternative to traditional wood or metal furniture.
In December 2023, ReNew Plastics (US) announced a strategic merger with Green Polymers Recycling (Canada) to create a North American leader in post-consumer recycled plastic (PCR) manufacturing. The combined entity will have a production capacity of over 1 billion pounds of PCR annually.
In September 2021, Union Government implemented a new rule allowing recycled plastic in food packaging applications. The rule was previously banned in 2018 by the FSSAI as it increases concern regarding food safety.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Recycled Plastic Providers and Plastic Recycling Facilities Providers, Recycled Plastic Products Manufacturers, Suppliers & Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users 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.