Rigid Recycled Plastics Market 2024-2028: Size and Stringent government regulations associated with use of recycled plastics; growth driven by the Type, Some of key Companies Positioned Strategically

The rigid recycled plastics market size by Type (PET, HDPE, PP, LDPE, and Others), End-user (Packaging, Construction, Automotive, Electrical and electronic components, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America), is forecast to increase by USD 22.12 billion. The market is expected to grow at a CAGR of  almost 6.88% between 2024 and 2028.

• The European Food Safety Authority (EFSA) and the Food and Drug Administration (FDA) play a crucial role in ensuring the safety of food packaging materials, including those made entirely or partially from recycled plastics. Regulatory frameworks such as the Food Contact Notification Program and the Food Additive Regulations (21 CFR Sections 170 et seq.) govern the use of these materials in food packaging. The FDA does not mandate a separate regulatory review for recycled food contact materials, but they must adhere to the same regulatory specifications as conventional materials. Compliance with the FDA's Good Manufacturing Practices for food contact materials (21 CFR Section 174) is mandatory.
• The APAC region represents a substantial share of the global recycled plastics market in 2023, primarily driven by the region's expanding automotive production, textile demand, and construction industry. In the automotive sector, recycled plastics are preferred for their superior properties, including high tensile strength, stiffness, creep resistance, and excellent wear resistance. These properties enable recycled plastics to reduce a vehicle's overall mass and enhance fuel efficiency, making them indispensable in the automotive industry. With China being the largest automobile producer in APAC, the increasing automotive production in the region is expected to fuel the demand for recycled plastics throughout the forecast period. Furthermore, recycled plastics find extensive applications in various industries, such as construction, where they are used in the production of roofing tiles, concrete, indoor insulation, structural lumber, PVC windows, bricks, and fences.

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Some of the Key Companies:

• Altium Packaging
• B and B Plastics Inc.
• Berry Global Inc.
• Covestro AG
• Custom Polymers
• HAHN Kunststoffe GmbH
• Imerys S.A.
• Indorama Ventures Public Co. Ltd.
• J and A Young Leicester Ltd.
• Kuusakoski Oy
• KW Plastics
• MBA Polymers Inc.
• NaturaPCR
• PET Processors LLC
• Remondis SE and Co. KG
• Republic Services Inc.
• Revolution Co.
• Ultra Poly Crop.
• Veolia Environnement SA
• Waste Connections Inc.

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