Rigid Recycled Plastic Market Analysis :
Rigid plastic which is often referred to as non-bottle rigid plastic is majorly high-density polyethylene. Plastic recycling has a significant role in the sustainability of the environment. Increase in concerns regarding environment pollution and awareness about the environment wellbeing drive the growth of the rigid recycled plastic market. Recycling plastic wastes into useful products such astrash cans and boxes and for packaging and electronics application reduces the consumption of non-renewable resources. Presently, many industries all over the globe are favoring the usage of recycled plastics over virgin plastics, which is anticipated to propel the growth of the recycled plastics market.
COVID-19 scenario analysis
- With the outbreak of the COVID-19 crisis, the world is fighting a health pandemic as well as an economic emergency.
- The plastic recycling market is finding it difficult to gatherraw plastic materials or plastic waste due to the restrictions in transportation, which is impacting the manufacturing expenditure.
- The packaging industry—being one of the major users of both virgin and recycled plastics—has been severely affected by this global pandemic. Owing to decrease in sales of almost every product, the demand for rigid recycled plastic has declined in the packaging industry.
- Moreover, owing to the economic downfall and decline in disposal income in the midst of this pandemic, the demand for electronic goods has decreased considerably. As electronic goods isa significant end-user industries of recycled plastic, the growth of the global market has been negatively impacted.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Among the various end-user industries of recycled plastics market, the growth of the packaging industry is expected to be significant. This is attributed to the fact that technological advancements such as green manufacturing process have made recycled plastics suitable for food applications, which resulted in increase in their usage in food & beverage packaging. Moreover, the automotive industry has increased the usage of recycled plastics in the manufacture of various parts and components. Furthermore, the electrical & electronics industry has been witnessing surge in usage of recycled plastics for making tablets, laptops, and mobile phones.
North America is expected to lead the rigid recycled plastic market,owing to surge in demand for recycled plastics in the U.S. and Canada, followed by Europe and Asia-Pacific.
The global rigid recycled plastic market trends are as follows:
Negative impact on the environment due toplastic disposal
Plastic, due to its durability, in expensiveness, and easy availability has innumerable applications and has played a significant role in the life of mankind. Thus,the production of plastics has increased exponentially. However, rise in usage of plastic has resulted in generation of massive volume of nondegradable waste, which is leading to various environmental problems. It has severely impacted the marine ecosystem. In addition, the Great Pacific garbage patch, also known as the Pacific trash vortex discovered between 1985 and 1988, is a gyre of marine debris particles located in the central North Pacific Ocean. The debris was majorly plastic wasteof all sorts, and being scattered across a wide area made it even more difficult to clear it up. Thus, recycling of plastic wastes has been proven to be a leading method to neutralize the ill effects of plastics on the environment, which further results in conservation of nonrenewable sources that are used in the manufacture of plastics. All these factors collectively play a significant role in driving the usage of recycled plastics.
Surge inneed for sustainability
Increase inconcerns about the various environmental problems that are caused due to plastic wastes has driven the demand for recycled plastics. Presently, recycling of plastics has huge impact on the sustainability and wellbeing of the environment. Different plastic industries across the globe are taking initiatives to improve their capacity of recycling plastics and are increasing the usage of polyolefin and postconsumer resin. This rise in environmental awareness is likely to play a positive role in the growth in demand for recycled plastics.
Key benefits of the report
- This study presents the analytical depiction of the global rigid recycled plastic industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global rigid recycled plastic market share.
- The current market is quantitatively analyzed to highlight the global rigid recycled plastic market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global rigid recycled plastic market research report:
- Which are the leading market players active in the global rigid recycled plastic market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Rigid Recycled Plastic Market Report Highlights
| Aspects | Details |
 By Type |
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 By Recycling Method |
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 By Industry Vertical |
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 By Region |
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 Key Market Players | Wellman Advanced Materials, B. Schoenberg & Co., Evolve Polymers Ltd., Reprocessed Plastic , Inc., Clear Path Recycling, LyondellBasell, Green Line Polymers, KW Plastics, PLASgran Ltd, REPLAS |
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