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According to a comprehensive research report by Market Research Future (MRFR), “Plastic Recycling Market Information by Material (Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polypropylene (PP) and others), Recycling Process (Mechanical and Chemical), Application (Packaging, Construction, Textile, Automotive and others) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast to 2030”, the market is projected to be worth USD 67.32 billion by 2030, registering a CAGR of 7.19% during the forecast period (2022 to 2030), the market was valued at USD 38.51 billion in 2021.
List of the key companies profiled in the Plastic Recycling Market Research Report includes–
Market Research Future’s Review on Plastic Recycling Market
The global plastic recycling market is witnessing a constant revenue rise. Factors such as increasing awareness about plastic recycling benefits and efficient outreach programs initiated by key industry players boost the market size. With rising government initiatives to promote waste management programs and stringent regulations to curtail carbon emissions, the market value is expected to escalate further during the years to come. The rising need to control environmental deterioration drives market growth. Also, increasing population, urbanization, and industrialization worldwide contribute to the market revenue growth.Additionally, improving economic conditions worldwide boosts market value, increasing consumer purchasing power & lifestyle, and plastic product use. The rising use of plastic products creates the need for plastic recycling. Moreover, advances in plastic recycling technology, techniques, and processes push the market growth further, significantly controlling plastic waste at landfills.