Global Recycled Thermoplastic Market Report offers market size, share, overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.
Recycled thermoplastic market has been critical in propagating the manufacture of recycled bottles, trays, pots and bins that are light, strong, have good resistance to impact and moisture and can be reprocessed by recycling plants. Vital properties like corrosion resistance, low-density, high-strength and flexibility of design are fueling the growth of the market.
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Driven by a renewed approach by the packaging industry towards using more eco-friendly options, global recycled thermoplastic market has established itself as one of the most lucrative business verticals of recent times. The fraternity was valued over USD 45 billion in 2017, primarily driven by constricting government reforms to curb non-degradable plastic utilization and a renewed approach by the packaging industry towards using more eco-friendly options. The distinctive ability to be repeatedly melted and remolded multiple times is the foremost characteristic of thermoplastics, said to be 100% recyclable and aptly suited for varied areas where plastic products are used and disposed off in a short span of time.
An expanding area of viability for the recycled thermoplastics industry is the construction segment, where composites are being fashioned to replace traditional building materials like wood, aluminium and other metals. Construction composites are very effective in terms of strength, flexibility, durability and cost-efficiency, motivating industry players to innovate different ways to produce them including the recycle of thermoplastics. For instance, polystyrene waste from packaging is recycled into plastic wood while HDPE and LDPE from industrial and domestic waste is recycled to obtain mixed plastic sheets used on outdoor equipment. It is found that these composites made from recycled plastic last five times longer than treated timber and hardly have any replacement or maintenance costs. In addition to the construction sector, automobile and transportation industry is also becoming a hotspot for the recycled thermoplastic market.
Key product advantages like easy sourcing, cost-effectiveness, material strength and being environment-friendly will certain propel the recycled thermoplastic market worldwide, with a CAGR of over 9.5% estimated for 2018 to 2025. Plastipak Holdings, RJM International, Inc., PARC Corporation, Revital polymers and KW Plastics are some established players in the extremely competitive recycled thermoplastic industry.
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In terms of profitability potential, one cannot ignore the regional dominance of Asia-Pacific as a consumer for the recycled thermoplastic industry. Governments in Asian countries are adopting highly restrictive acts to promote recyclable materials and the effect can also be felt in sectors other than automobile manufacturing. India and China are witnessing tremendous amounts of construction projects to cater to the rising population and supplement large scale industrialization of multiple segments, presenting a big market for recycled composites.
Agrarian countries like India are experiencing an upward movement in development activities supported by government initiatives and will push the demand for recycled thermoplastic materials used in agricultural pipes, canals, irrigation systems and green housings. Derived from the aforementioned factors, the Asia-Pacific region is anticipated to lead the recycled thermoplastic market, holding 35% of the global share by 2025.
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