About PCR Plastic Packaging
Post-consumer resin (PCR) is an environmentally-friendly packaging option that many manufacturers are using in support of recycling programs, consumer demand, and to reduce their impact on landfills. PCR plastics are the recycled materials from existing PET bottles and other plastics. These materials are recycled into other packaging materials. This type of plastic is less wasteful than new plastic, as a reduced amount of waste is produced and collected, creating less waste in landfills and water sources. PCR plastic also reduces your carbon footprint.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the PCR plastic packaging market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for PCR plastic packaging Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global PCR Plastic Packaging 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.
Amcor Plc (Australia), Genpak LLC (United States), Klockner Pentaplast (United Kingdom), Berry Global (United States), Sonoco (United States), Alpha Packaging (United States), Pactiv (United States), Placon Corporation (United States), Envision Plastic Industries (United States), Longdapac (United Kingdom) and ProAmpac (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 Emmerson Packaging (Canada), Pretium packaging (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global PCR Plastic Packaging market by , Application (Bottles, Trays, Blister Packs, Bags & Sacks, Cups & Jars, Pouches & Sachets and Others) and Region.
On the basis of geography, the market of PCR Plastic Packaging 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). If we see Market by Material Type, the sub-segment i.e. PET (Polyethylene Terephthalate) will boost the PCR Plastic Packaging 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. Food & Beverages will boost the PCR Plastic Packaging market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased focus on environmental impact. and Increased Post-Consumer Recycled (PCR) Content.
Market Growth Drivers:
Increasing demand from diverse industries such as cosmetics. and Rising government initiatives towards PCR plastic packaging.
Challenges:
Recycled plastic more expensive than virgin.
Restraints:
Absence of a well-defined framework for plastic waste collection and segregation.
Opportunities:
Expansion in emerging countries. and Increase the construction market, in particular nonbuilding construction, which is increasingly utilizing plastics in applications such as pipe.
Market Leaders and their expansionary development strategies
In February 2024, Multinational chemical company LyondellBasell has announced the acquisition of mechanical recycling assets in California, US, from recycling and waste management service provider, PreZero. The deal includes leasing the processing facility in Jurupa Valley with an annual production capacity of approximately 50 million pounds of recycled materials. The newly-acquired mechanical recycling plant will be operational by 2025, producing post-consumer recycled (PCR) resins from plastic waste feedstock under LyondellBasell’s CirculenRecover brand.
In July 2023, Berry Global has launched a range of reusable bottles made entirely out of postconsumer recycled plastic (PCR) for The Bio-D Co., Hull, United Kingdom, a cleaning company with an ethical and environmental focus. The bottles will be available in 25-ounce, 33-ounce and 1.3-gallon options for Bio-D’s liquid products, including laundry detergent, fabric conditioner, dishwasher rinse aid, dish soap and home and garden cleaner.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries 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.