What is Global Industrial Plastic Waste Recycling Market?
The Global Industrial Plastic Waste Recycling Market is a vast and complex sector that deals with the recycling of industrial plastic waste on a global scale. This market is responsible for the collection, sorting, processing, and recycling of plastic waste generated by various industries. The goal is to convert this waste into reusable materials, thereby reducing the environmental impact of plastic waste. This market is driven by the increasing awareness about environmental sustainability and the need to reduce plastic pollution. It also benefits from technological advancements in recycling processes and the growing demand for recycled plastic products. The market includes various types of plastic waste such as PET, PP, HDPE, LDPE, and others. It also covers different recycling methods such as mechanical recycling, chemical recycling, and energy recovery. The Global Industrial Plastic Waste Recycling Market is a crucial part of the global waste management industry and plays a significant role in promoting a circular economy.
PET, PP, HDPE, LDPE, Others in the Global Industrial Plastic Waste Recycling Market:
The Global Industrial Plastic Waste Recycling Market deals with various types of plastic waste including PET (Polyethylene Terephthalate), PP (Polypropylene), HDPE (High-Density Polyethylene), LDPE (Low-Density Polyethylene), and others. PET is commonly used in beverage bottles and other consumer product containers. PP is used in a wide range of products including packaging, textiles, automotive parts, and more. HDPE is used in products such as milk jugs, detergent bottles, and grocery bags. LDPE is used in products like plastic bags, plastic films, and containers. These types of plastic waste are collected, sorted, and processed in recycling facilities. They are then converted into reusable materials through various recycling methods. The recycled materials are used to manufacture new products, thereby reducing the demand for virgin plastic and contributing to environmental sustainability. The market for each type of plastic waste recycling depends on factors such as the volume of waste generated, the recycling technology available, and the demand for recycled products.
Package, Vehicle, construction, textile, Others in the Global Industrial Plastic Waste Recycling Market:
The Global Industrial Plastic Waste Recycling Market serves various sectors including packaging, vehicle, construction, textile, and others. In the packaging sector, plastic waste is generated from various sources such as food packaging, beverage bottles, and other consumer product packaging. This waste is collected, sorted, and recycled into new packaging materials. In the vehicle sector, plastic waste is generated from various parts of vehicles such as bumpers, dashboards, and other components. This waste is recycled into new vehicle parts. In the construction sector, plastic waste is generated from construction materials such as pipes, insulation, and others. This waste is recycled into new construction materials. In the textile sector, plastic waste is generated from synthetic fabrics and other textile products. This waste is recycled into new textile materials. The market for each sector depends on the volume of plastic waste generated, the recycling technology available, and the demand for recycled products.
Global Industrial Plastic Waste Recycling Market Outlook:
The future of the Global Industrial Plastic Waste Recycling Market looks promising. In 2023, the market was valued at US$ 15440 million. It is projected to reach a value of US$ 23020 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period from 2024 to 2030. This growth is driven by factors such as increasing awareness about environmental sustainability, advancements in recycling technology, and growing demand for recycled plastic products. China currently leads the world in recycling production, accounting for almost 40% of the global share. This dominance is due to the country's large population, high consumption of plastic products, and strong recycling infrastructure. However, other countries are also making significant efforts to increase their recycling capacities and contribute to the global recycling market.
| Report Metric | Details |
| Report Name | Industrial Plastic Waste Recycling Market |
| Accounted market size in 2023 | US$ 15440 million |
| Forecasted market size in 2030 | US$ 23020 million |
| CAGR | 5.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Indorama Ventures (Custom Polymers PET), B&B Plastics, B.schoenberg, Arrotin Plastic, RJM International, Ultra-Poly, Avangard Innovative, United Plastic Recycling, Norwich Plastics, MBA Polymers, SUEZ, Chongqing Gengye, Shandong Pengzhousuye, Shanghai Re-mall Environmental New Material Co., Ltd., Shanghai Tianqiang, LIANYUNGANG LONGSHINE PLASTICS |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
