The Post-Consumer Recycled Plastics Market is being driven by Increased demand for recycled plastics from packaging industry
The Post-Consumer Recycled Plastics Market is expected to grow at a CAGR of 5.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 5570.4 million. The global production of plastic exceeds 300 million tons annually, with approximately 8-10 million tons ending up in oceans, posing a significant threat to both marine and terrestrial ecosystems. This issue has gained international attention, with organizations such as The Association of Plastic Recyclers, 5 Gyres, and Recycling of Used Plastics Limited (RECOUP) advocating for the use of post-consumer recycled plastics through social media campaigns. Utilizing hashtags across platforms like Facebook, Twitter, and Instagram, these initiatives aim to raise awareness and promote eco-friendly solutions. By embracing recycled plastics, businesses can contribute to environmental sustainability and reduce their carbon footprint.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
228 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.6% |
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Market growth 2025-2029 |
USD 5570.4 million |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
6.3 |
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Key countries |
US, China, Germany, Japan, UK, Australia, India, France, Brazil, UAE, Rest of World (ROW), Saudi Arabia, France, South Korea, Mexico, Italy, Spain, US, Canada, China, Japan, India, UK, Germany, South Korea, Saudi Arabia, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Post-Consumer Recycled Plastics (PCR) market encompasses various types of recycled plastics, including virgin plastic blends, recycled plastic additives, colorants, reinforcements, fillers, and more. The market is driven by the need for plastic recycling infrastructure, capacity, and technology, as well as innovation in sustainable packaging, bio-based plastics, and renewable resources. Key factors influencing the market include plastic waste reduction and prevention, particularly of single-use plastics, and addressing plastic pollution through methods like ocean plastic collection, landfill diversion, incineration, pyrolysis, gasification, and bioconversion. Environmental product declarations, carbon offsets, green procurement, and corporate social responsibility are essential for promoting PCR use. Sustainable development goals, consumer awareness, behavior change, education, advocacy, certification, and labeling also play crucial roles in the market's growth. Transparency in recycled plastic sourcing and production is vital for ensuring trust and credibility.
The Post-Consumer Resin (PCR) segment of the specialty chemicals market encompasses the production and sale of Recycled PET, Recycled HDPE, Recycled PP, and Recycled PVC. These PCR resins, also known as Recycled Plastic Pellets, are high-value-added chemicals utilized in the manufacturing of various products, including advanced polymers, adhesives, sealants, and specialty paints. According to Technavio's market analysis, the global specialty chemicals market is projected to grow significantly due to the increasing demand for specialty adhesives and sealants. This trend is expected to boost the consumption of PCR resins during the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: media@technavio.com
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