Rigid Recycled Plastics Market Size to grow by 623.86 thousand MT | 17,000+ Technavio Research Reports

2022-06-25 07:58:21 By : Mr. xiaowei li

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NEW YORK , Dec. 20, 2021 /PRNewswire/ -- The rigid recycled plastics market size will grow by 623.86 th MT from 2020 to 2025, as per the latest market analysis report from Technavio. The report also identifies the market to witness a decelerating growth momentum at a CAGR of 7.52% during the forecast period. A comprehensive analysis on the factors influencing the market growth positively and adversely are also covered in this report. The rigid recycled plastics market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market.

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The market is driven by the increasing demand from developing countries. The global rigid recycled plastics market is driven by the growth of the packaging, construction, and other industries from emerging economies such as Indonesia , Brazil , India , China , Mexico , and Russia . Many manufacturers of rigid recycled plastics are shifting their operations to these regions due to factors such as cost-effective manpower, increased consumption of recycled plastics, availability of raw materials, low transportation costs, and less stringent government regulations and policies. The emerging countries are expected to lead the rigid recycled plastics market owing to the economic development, open market, and industrialization. The increase in the manufacturing activities in these countries owing to the high GDP is also expected to drive the growth of the rigid recycled plastics market. 

However, stringent regulations and policies are expected to limit the market's growth during the forecast period. The constant push from regulatory agencies such as the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) and Environmental Protection Agency (EPA) on the use of recycled plastics is expected to impede the growth of the rigid recycled plastics market. In addition, the recycling of plastics reduces carbon emissions and landfills, thereby preventing health hazards and pollution. However, the lack of awareness about rigid recycled plastics among consumers in countries such as Brazil , Mexico , South Africa , and Angola is expected to hinder market growth.

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The Rigid Recycled Plastics Market is segmented by Type (HDPE, PP, PET, and others) and Geography (North America , Europe , APAC, South America , and MEA). The HDPE segment led the market share in 2020 and will continue to retain its market dominance during the forecast period. The increase in demand for HDPE to produce bottles is expected to drive market growth. Recycled HDPE resins are commonly used for pipes, buckets, floor tiles, crates, film and sheet, flower pots, garden edging, and recycling bins. The increasing demand for toys, rope, and recycling bins is also expected to augment the market growth. Countries such as China and India use recycled HDPE in the form of pipes and cables in large quantities in the construction, electrical and electronics, and automotive industries. The rising demand for plastic pipes and cables in these industries globally will drive the demand for HDPE during the forecast period. 

In terms of geography, North America was the largest revenue-generating segment of the market. The region is anticipated to continue leading the market while capturing 43% of the market growth during the forecast period. The increasing demand for plastic recycling in the US and Canada is expected to drive the demand for rigid recycled plastics. The advanced technology used to produce recycled HDPE and PP resins is expected to foster market growth. In addition, the presence of dominant vendors such as Advanced Environmental Recycling Technologies and KW Plastics is expected to drive market growth in the region. 

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The rigid recycled plastics market covers the following areas:

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters

Rigid Recycled Plastics Market Sizing Rigid Recycled Plastics Market Forecast Rigid Recycled Plastics Market Analysis Companies Mentioned

The rigid recycled plastics market is fragmented, and the vendors are deploying growth strategies such as innovation to compete in the market. Market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

Related Reports: Biodegradable Plastics Market by End-user and Geography - Forecast and Analysis 2022-2026

Engineering Plastics Market by Type and Geography - Forecast and Analysis 2021-2025

Rigid Recycled Plastics Market Scope

Decelerate at a CAGR of 7.52%

North America, Europe, APAC, South America, and MEA

US, China, Germany, UK, and Australia

Leading companies, competitive strategies, consumer engagement scope

Centriforce Products Ltd., Custom Polymer Inc., Envision Plastics, Imerys SA, Kuusakoski Group Oy, KW Plastics, Placon Corp., PLASgran Ltd., SUEZ SA, and Veolia Environnement SA

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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