According to the recent study the recycled plastic market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 7% to 9% from 2023 to 2028. Growth in this market is primarily driven by increasing plastic consumption in the production of lightweight components in various industries, growing acceptance and consumption of recycled plastics in the textile industry, increasing usage in packaging, automotive, and electrical & electronics industries, and development of cost-effective and sophisticated recycling technologies.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in recycled plastic market by product type (polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and others), source (bottles, films, fibers, foams, and others), end use industry (building & construction, packaging, electrical & electronics, textiles, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Polyethylene market is expected to remain the largest segment during the forecast period.”

Based on product type, the recycled plastic market is segmented into polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and others. Lucintel forecasts that the Polyethylene market is expected to remain the largest segment due to the high demand for packaging material in consumer goods, food & beverage, industrial, and various other industries. Also, it is commonly used in laundry detergent packaging, milk cartons, cutting boards, and garbage bins, among various other applications.

“Within the recycled plastic market, the packaging segment is expected to remain the largest end use industry”

Based on end use industry the packaging segment is expected to witness the highest growth over the forecast period due to the rising demand for packaged foods & beverages, electrical & electronics, and textiles, rapid growth of e-commerce across the globe, and the volume of orders through e-commerce platforms have increased dramatically that resulted in the extensive use of recycled plastic for the packaging of products.

“Asia pacific will dominate the recycled plastic market in near future”

APAC will remain the largest region due to rapid growth of the food and beverages, electrical and electronics, automotive, e-commerce industry, and several other industries that have significantly contributed towards the growing consumption of recycled plastics in this region. The rising development of non-residential construction projects, including hospitals, commercial buildings, malls, schools, and colleges will drive the demand for plastics in the roofing tiles, insulation, fences, floor tiles, carpets, and various other construction applications.

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Major players of recycled plastic market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Indorama Ventures, Biffa, Stericycle, Republic Services, WM Intellectual Property Holdings, Veolia, Shell International BV, Waste Connections, Clean Harbors, and Covetsro AG are among the major recycled plastic providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/recycled-plastic-market.aspx or helpdesk@lucintel.com