News By Tag
News By Location
Follow on Google News
Recycled Plastic Market Trends and Future Growth Study 2022-2030
The European recycled plastic market will grow at the highest CAGR in the coming years.
By: P&S Intelligence
According to P&S Intelligence, the Asia-Pacific region accounted for the highest volume of plastic recycled, due to the large-scale import and availability of domestic waste. As per data by the Organisation for Economic Corporation and Development (OECD), around 70% of plastic waste imported by APAC nations in 2016 was from high-income countries. In addition to this, cheap labor allows for smooth labor-intensive operations such as sorting, collection, and cleaning in APAC nations. Both these reasons assist in the development of small- and large-scale reprocessing facilities in India, Indonesia, China, Malaysia, Thailand, and Vietnam.
As a result, the European recycled plastic (https://www.psmarketresearch.com/
Thus, a decline in the consumption of virgin plastic and increase in the number of recycling and reprocessing units are expected to drive recycling activities in the foreseeable future.