World Plastic Recycling Market to Reach $272.6 Billion by 2030

SEATTLE (Scrap Monster): The latest research report published by MDC Research indicates that the global plastic recycling market is likely to touch $72.6 billion by the end of the current decade. The market is projected to grow at a compound annual growth rate (CAGR) of 8.6% during the forecast period from 2022 to 2030.

Among various regions, the North American region is expected to hold a considerable share of the global plastic recycling market. The region will see increased investment for research and development processes and adoption of innovative recycling solutions.

ALSO READ:

Smithers Foresees Demand Surge for Recycled Plastic Packaging

New Innovative Campaigns Launched to Cut Plastic Pollution

Meantime, the Asia-Pacific region is expected to record fastest pace of growth during the forecast period, the report noted. The increasing investments by prominent vendors, presents lucrative business expansion opportunities in several countries in the region, primarily in emerging economies such as China and India.

The report provides in-depth analysis of the various ways in which vendors address the rising demand in the plastic recycling market. It outlines key players in the sector, along with their key strengths and strategies. In addition, the report also covers technology assessment and detailed business ecosystem analysis covering relationships amongst suppliers, distributors, and end-users.