Loading price data
Scrap Monster
Access the
Platform
ScrapMonster has become North America's largest scrap trading platform with 93,218 members and the trusted source for scrap prices, news, and information. Join Today!
Plastic Recycling November 30, 2021 01:00:22 PM

World Plastic Recycling Market to Exceed $67 Million by 2030

Paul Ploumis
ScrapMonster Author
The APAC region dominates the global plastic recycling market, accounting for majority of the market share.

World Plastic Recycling Market to Exceed $67 Million by 2030

SEATTLE (Scrap Monster): The latest research report published by Market Research Future (MRFR) foresees CAGR growth of 7.19% to the global plastic recycling market during the period from 2022 to 2030. The market value is projected to reach $67.32 billion by 2030, compared to $38.51 billion in 2021.

According to the report, the boost in market size will be mainly triggered by various factors including increasing awareness about plastic recycling benefits and efficient outreach programs initiated by key industry players. The government-initiated efforts to promote waste management programs coupled with stricter regulations to curb carbon emissions will lead to escalation of market value over the forthcoming years, it noted.

RELATED NEWS:

Recycled Packaging to Cause Notable Dip in Use of Virgin Plastic

New Report: Eight Million Tonnes of Plastic Waste Generated During Pandemic

The APAC region dominates the global plastic recycling market, accounting for majority of the market share. The region is likely to retain its dominance through the forecast period, mainly driven by increasing plastics use due to rising population and economic growth post Covid-19 pandemic.

The MRFR report states that the global plastics recycling market continue to remain highly competitive. The sector is likely to witness acquisitions and mergers, expansions, collaborations and heavy investment in R&D activities.

 

×