Recycled Plastics Market 2019 | Enhancing Huge Growth and Latest Trends by Top Players

NEW YORK - Oct. 14, 2019 - PRLog -- Recycling plastics refers to a process wherein the waste plastic is transformed into useful products. As majority of the plastic is non-biodegradable, global efforts have been garnered so as to reduce the waste plastic from negatively affecting the environment. Recycling includes sorting of different polymers, shredding, cleaning, and melting it into pellets. These pellets are then used in production of plastic products such as tables or chairs. This helps in reducing the plastic pollution and use of virgin resin.  A new research report by IMARC Group, titled "Recycled Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", estimates that the global recycled plastics market was worth US$ 35.4 Billion in 2018. The report further anticipates the market to cross US$ 50 Billion by 2024, at a projected CAGR of 6.1% over the forecast period.

Market Drivers/Constraints:

Production of plastic releases huge amounts of carbon dioxide in the environment, thereby elevating the levels of greenhouse gases present in the air. As recycling of plastic reduces the usage of oil and the volume of discarded wastes, it acts as one of the primary factors influencing the market growth.

Government initiatives undertaken by numerous nations aim to minimise the emission of carbon dioxide and waste generated from non-biodegradable plastics, thereby contributing to the growth of the market.

The rising awareness about environment pollution amongst consumers along with technological advancements and improvements in the systems for the collection represent some of the other major factor propelling the growth of recycled plastic market.

Request for a sample copy of this report: https://www.imarcgroup.com/recycled-plastics-market/requestsample

Insights on Market Segmentation:

Breakup by Plastic Type:

1. Polyethylene Terephthalate (PET)

2. High Density Polyethylene (HDPE)

3. Polypropylene (PP)

4. Low Density Polyethylene (LDPE)

5. Others

Explore full report with table of contents: https://www.imarcgroup.com/recycled-plastics-market

Breakup by Application:

1. Non-Food Contact Packaging

2. Food Contact Packaging

3. Construction

4. Automotive

5. Others

Breakup by Raw Material:

1. Plastic Bottles

2. Plastic Films

3. Rigid Plastic and Foam

4. Fibres

5. Others

Breakup by Region:

1. North America

2. Europe

3. Asia Pacific

4. Latin America

5. Middle East and Africa

Key Players

Avangard Innovative LP
B. Schoenberg and Co., Inc.
Delta Plastics
UltrePET LLC
CarbonLITE Industries

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses..

Contact Us

IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal