iCrowdNewswire Dec 22, 2020 7:00 AM ET
According to the new market research report “Post-consumer Recycled Plastics Market by Polymer Type, Service, Processing Type (Mechanical, Chemical, Biological), End-use Application (Packaging, Building & Construction, Automotive, Furniture, Electronics), and Region – Global Forecast To 2025“, The global post-consumer recycled plastics market size is projected to grow from USD 14.2 billion in 2020 to USD 18.8 billion by 2025, at a CAGR of 5.7% from 2020 to 2025.
The increasing urban population, rapid industrialization, growing concern toward the environmental impact of the improper disposal of plastic waste, along with laws & regulations regarding the disposal and treatment of plastic waste, have propelled the growth of the global plastic waste management industry. The increase in the GDP of a country will enable it to work with more advanced and effective waste management solutions, which will, in turn, increase the demand for waste management services, equipment, and technologies.
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Recycling, by service, accounted for the largest market share in the post-consume recycled plastics market. The recycling process of consumer plastic waste involves sorting, cleaning & drying, shredding & agglomeration, pelletizing, and finally, manufacturing recycled products. In the case of developing countries such as India, much of the waste collected from residential areas is not sorted before it is collected, which makes the recycling of consumer plastic wastes difficult. However, in developed countries, consumer plastic waste is sorted and deposited in containers; sorting also takes place after the waste is collected. In this stage, recovered plastic waste is segregated into different grades either by SPI code or by the type of plastic, additives, and fillers used. The segregation is done as different types of plastics require different treatment, while recycling them to make different types of products.
PP, by polymer type, is estimated to be the fastest-growing segment in the post-consumer recycled plastics market from 2020 to 2025, in terms of volume. Products made from PP offer high stiffness, heat resistance, steam barrier properties (food protection), elasticity (film and fiber applications), enhanced transparency, strong impact & rigidity balance. The resistance of PP to permeation is equivalent to or marginally better than that of high-density polyethylene (HDPE) and superior to low-density polyethylene (LDPE). It is recyclable and reused in various applications besides manufacturing plastics. These properties have led to an increasing preference for PP in the manufacture of packaging units used in the food & beverage, pharmaceutical, electronic, and packaging industries. Few packaging applications include bottles, crates, films, and pots.
Browse and in-depth TOC on “Post-consumer Recycled Plastics Market – Global Forecast to 2025”
153 – Tables
42 – Figures
197 – Pages
The global post-consumer recycled plastics market size is projected to grow from USD 14.2 billion in 2020 to USD 18.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast year. Post-consumer recycled resins or plastics are obtained by recycling the plastic waste collected from consumers. Consumer plastic waste includes bottles, films, and foams. Post-consumer plastic waste management includes recycling, recovery, and disposal of plastic waste. Additionally, waste management systems ensure the safe collection, segregation, storage, transportation, processing, and disposal of generated plastic waste. Post-consumer recycled resins also ensure that no harm is caused to the environment during this process and that the process is undertaken in accordance with the regulations and standards prescribed by governments or associations.
The post-consumer recycled resins market has several large companies operating in the market. A few of the major players are, Veolia Environnement S.A. (France), SUEZ (France), Waste Management Inc. (US), Republic Services Inc. (US), and Stericycle Inc. (US). The other notable players in the market are Biffa (UK), Clean Harbors (US), Remondis SE & Co. KG (Germany), DS Smith (UK), and Waste Connections, Inc. (US).. These players have adopted various growth strategies, such as mergers, acquisitions, investments, expansions, new product developments, joint ventures, and partnerships to increase their market shares and enhance their product portfolios.
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Veolia Environment (Veolia) is a global provider of environmental management services. It is engaged in the management of waste, water supply, and distribution systems. Veolia is among the key global players that provide solutions for the management and recycling of solid, liquid, non-hazardous, and hazardous waste. It is engaged in the entire lifecycle of recycling management from collection to recovery of waste. The company is actively involved in turning waste into materials through its recycling processes.
The company also recycles televisions and cellphones in Anger (France), where these consumer goods are disassembled and used to provide new resources, such as high-quality polymers (plastics). These resources are suitable for use as secondary raw materials among leading manufacturers of household appliances in the country to create new products that include bathroom scales. The company’s subunit–Rostock recycles one billion plastic bottles, where every year, 200 billion plastic bottles are produced worldwide for juice, soda, household cleaning products, and various other uses. Veolia’s treatment and recycling facility in the port of Rostock, northern Germany, recycles 1 billion plastic bottles a year. That is the equivalent of saving 31,000 liters of crude oil.
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