The Recycled Plastics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In accordance with The Business Research Company's Global Market Report for Recycled Plastics in 2024, there has been a consistent expansion in the size of the recycled plastics market. The market is anticipated to surge from $52.03 billion in 2024 to $54.52 billion at a compound annual growth rate (CAGR) of 4.8%. The historical growth can be ascribed to heightened environmental awareness, government regulations, the surge in e-waste recycling, burgeoning consumer demand, and an increased emphasis on supply chain sustainability.

Projections indicate that the recycled plastics market will continue its upward trajectory, reaching $65.65 billion by 2028, exhibiting a CAGR of 4.8%. Anticipated growth in the forecast period is linked to circular economy initiatives, corporate sustainability objectives, strategies for plastic waste reduction, advancements in bioplastics and hybrid materials, and the promotion of sustainable packaging. Noteworthy trends in this period encompass cutting-edge recycling technologies, the adoption of eco-friendly packaging, plastic-to-fuel conversion endeavors, the upswing in e-waste recycling, and a surge in sustainable fashion practices.

The rising awareness among investors regarding environmental protection is expected to propel the growth of the recycled plastics market going forward. Environmental protection is any action taken to preserve or improve the quality of environmental media by preventing pollution from entering them or reducing their presence there. The use of recycled plastics would be an alternative to protect the environment since, instead of discarding, the plastic would be utilized or recycled for further use. For instance, according to a study named 'Consumer Passion For The Environment Grows As A Result Of The Pandemic', conducted by Mastercard Inc., a US-based financial services corporation among 24 countries and featuring 25,519 adults from respective countries between January 19th and March 5th, 2021, it has been found that 58% of adults are more aware of their environmental impact and 85% are prepared to take personal action to address environmental and sustainability issues in 2021. Therefore, the rising awareness among investors regarding environmental protection is expected to propel the growth of the recycled plastics market going forward.

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The recycled plastics market covered in this report is segmented –
1) By Type: Polyethylene Terephthalate, Polyvinyl Chloride, Polyethylene, Polypropylene, Polystyrene, Other Types
2) By Source: Plastic Bottles, Plastic Films, Plastic Foams, Plastic Fibers, Other Sources
3) By Application: Packaging, Textile, Automotive, Building And Construction, Electrical And Electronics, Other Applications

An imperative trend gaining momentum in the recycled plastics sector is technological advancements. Prominent companies in the market are directing their efforts towards innovating new technological solutions to fortify their market standing. A case in point is Sumitomo Chemical Co., Ltd., a leading Japanese chemical company, which unveiled MeguriTM in September 2021—a novel brand for plastic products derived from state-of-the-art recycling technology. MeguriTM encompasses a spectrum of recycled plastic items produced through chemical or material recycling techniques, including acrylic resin (PMMA), polyethylene, and polypropylene. This initiative exemplifies Sumitomo Chemical's commitment to addressing societal challenges through circular economy principles, encapsulating a cycle of resources, people, and returning to the source.

The recycled plastics market report table of contents includes:
1. Executive Summary
2. Recycled Plastics Market Characteristics
3. Recycled Plastics Market Trends And Strategies
4. Recycled Plastics Market - Macro Economic Scenario
5. Global Recycled Plastics Market Size and Growth

.....
31. Global Recycled Plastics Market Competitive Benchmarking
32. Global Recycled Plastics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Recycled Plastics Market
34. Recycled Plastics Market Future Outlook and Potential Analysis
35. Appendix

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