Latest News- Rigid Recycled Plastics Market: PET is expected to lead the Type segment during 2025-2029

The Rigid Recycled Plastics Market is being driven by Environment-friendly nature of recycled plastics

The Rigid Recycled Plastics Market is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 39.86 billion. In the automotive industry, plastics and composites are indispensable lightweight materials, accounting for significant usage in structural, powertrain, exterior and interior, and electronic and electrical components. To adhere to stringent environmental regulations, automakers are increasingly focusing on manufacturing lightweight, fuel-efficient, and eco-friendly vehicles. The adoption of rigid recycled plastics in automotive component production contributes to weight reduction, fuel savings, and decreased greenhouse gas emissions. Notably, automotive components in key markets such as China, Germany, India, France, Italy, South Korea, Japan, and the United States are increasingly comprised of recycled plastics. The expanding economic activity in emerging nations, resulting in rising per capita income, further fuels the demand for these sustainable materials in the automotive sector. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • PET
  • HDPE
  • PP
  • LDPE
  • Others
• End-user
  • Packaging
  • Construction
  • Automotive
  • Electrical and electronic components
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Environment-friendly nature of recycled plastics
• Increasing demand for recycled plastics from packaging industry
• High investment in infrastructure in emerging countries

However, the market also witnesses some limitations, which are as follows:

• Stringent government regulations associated with use of recycled plastics
• Ban on plastic recycling activities in China
• Increasing demand for biodegradable plastics

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Market Scope in Rigid Recycled Plastics Market Research Report

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Research Analysis Overview

The Rigid Recycled Plastics Market encompasses the production, consumption, and trade of reprocessed plastics, including recycled resins and polymers, as alternatives to virgin plastic. This market also covers bio-based plastics, compostable plastics, and degradable plastics, all aimed at promoting sustainability. Plastic additives like flame retardants, impact modifiers, and processing aids are utilized in the production process. Recycling equipment such as sorting, baling, shredding, washing, drying, extrusion, molding, and recycling facilities are essential for effective recycling. Recycling partnerships, certifications, sustainability initiatives, and corporate social responsibility are key drivers. The environmental impact assessment and life cycle analysis of products are crucial for product stewardship and circular economy models. Eco-friendly product design focuses on reuse, durability, longevity, and end-of-life management, while waste recycling and recovery are integral aspects of this market.

Market Research Overview

The Rigid Recycled Plastics Market represents a significant segment within the global specialty chemicals industry, focusing on the production and utilization of recycled plastics as sustainable materials. This market encompasses manufacturers engaged in the processing of recycled content, including post-consumer recycled content and post-industrial recycled content, to produce recycled materials for various industries. Key growth drivers include the increasing demand for sustainable materials in manufacturing processes and the global shift towards plastic recycling as a means to mitigate plastic waste. Technavio projects that this market will experience substantial expansion due to the rising adoption of recycled plastics in the manufacturing of high-value-added products such as specialty adhesives and sealants. These applications are poised to fuel the growth of the rigid recycled plastics market throughout the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/