“Post-Consumer Recycled Plastic market is estimated to be $24bn in 2019” says new Visiongain report
22 March 2019
Visiongain has launched a new packaging report Post-Consumer Recycled Plastic Market Report 2019-2029: Forecasts by Material Type (PET, HDPE, PP, Others), by Process Type (Mechanical, Chemical), by Product Type (Bottles, Cups, Containers, Bags, Clamshells, Blister Packs, Others) and by End-Use (Electronics, Homecare, Beverages, Pharmaceuticals, Personal Care, Others) Plus Leading Company Analysis and Regional and Leading National Market Analysis.
In an era of shrinking and expensive primary raw materials, Post-Consumer plastic waste is becoming more attractive in the plastics industry. Plastic waste when reprocessed to a very high standard of quality, becomes a lucrative and almost inexhaustible resource and thus helps to boost the business, and prevent and reduce the waste depots of environmentally unfriendly plastic products. The diversion of plastics waste towards recycling facilities and the resulting production of recycled plastics would also reduce the demand for incineration of waste plastics and virgin plastics production.
Packaging products made of plastic recovered from material recovery facilities contribute to the category of Post-Consumer recycled plastic. The post-consumer recycled plastic consists of PET (polyethylene terephthalate), HDPE (high-density polyethylene), PP (polypropylene) and other plastic waste among with PET plastic is anticipated to be the major contributor due to its abundant availability and ease in processing technology. Packaging products made of eco-friendly material are gaining increased acceptance as market players are adapting to sustainable packaging methods.
The Visiongain analyst commented "Increasing support from federal, state, and local governments for recycling efforts is anticipated to provide a significant boost to recycled plastic collection, processing, and demand. The growing emphasis on sustainability among packaging and consumer product manufacturers, advancements in processing and sorting technologies allows a wider variety of plastic to be recycled into high-quality resins, and an improved collection infrastructure raises the plastic recycling rate."
The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report include Sonoco Products Company., Berry Global Group, Inc., Inhaber Michael Mettler e.K, Bemis Company, Inc., Tray Pak Corporation, Placon Corporation Inc., Amcor Limited, Mondi PLC, Seventh Generation Inc., and Genpak LLC.
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