Plastic Recycling Market Bridging Gaps Strategies for Identifying and Targeting Your Audience through Segmentation
Plastic Recycling Market Growth
The Polyethylene Terephthalate (PET) segment is expected to witness the fastest growth due to the increasing demand for sustainable packaging solutions.
WILMINGTON, DELAWARE, UNITED STATES, April 17, 2024 /EINPresswire.com/ -- The Plastic Recycling Market is projected to reach $61.0 billion by 2031, with a notable CAGR of 8.7% during the forecast period of 2022 to 2031. The market is driven by increasing awareness about the negative impact of plastic waste on the climate and the need to reduce carbon emissions. Governments worldwide are implementing regulations and initiatives to promote plastic waste recycling. However, lower investment rates in plastic recycling in developing nations and inadequate infrastructure for recycling processes hinder market growth. Nonetheless, innovative technologies like chemical recycling and pyrolysis offer growth opportunities in the future.
Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/8572
The report covers various segments, including product (such as Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and others), source (plastic bottles, plastic films, polymer foam, and others), and application (building and construction, packaging, electrical and electronics, textiles, automotive, and others). The Polyethylene Terephthalate (PET) segment is expected to witness the fastest growth due to the increasing demand for sustainable packaging solutions. The plastic bottles category dominates the source segment, driven by rising awareness of the adverse effects of plastic waste. The packaging segment holds the highest market revenue, primarily due to the substantial contribution of packaging materials to the global plastic waste issue.
The Asia-Pacific region leads the market in terms of revenue and is expected to display the fastest growth. The region faces environmental concerns such as air pollution, waste management, and water pollution, driving the demand for eco-friendly waste management practices like plastic recycling.
Key players in the market include Covetsro AG, CLEAN HARBORS, INC., Waste Connections, Shell International B.V., Veolia, WM Intellectual Property Holdings, L.L.C., Republic Services, Inc., Stericycle, Biffa, and REMONDIS SE & Co. KG. These players employ various strategies to expand their market share and influence, such as introducing new products, expanding operations, forming collaborations, and entering into joint ventures.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/plastic-recycling-market/purchase-options
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 5038946022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
