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Market reports predict an increase in demand for recycled plastics

Mar 19, 2020

Market reports predict an increase in demand for recycled plastics and an increase of its market share

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Market reports predict an increase in demand for recycled plastics and an increase of its market share to $ 66.73 billion by 2025. Among them, the latest report from the Coherent Market Insights consulting company: “Secondary Plastics Market 2019-2027: Growth Rate, Market Factors and Opportunity Assessment”.

According to Coherent Market Insights (India), the recycled plastics market and the demand for recycled plastics are expected to be driven by a growing interest in primary plastic recycling and a growing awareness of energy savings.

This is also stated in the Infoholic Research LLP report, published on November 13, 2019. Its authors expect that the market for recycled plastics will grow worldwide with an average annual rate of 6.8% and reach a value of 66.73 billion US dollars by 2025. “North America leads the modern market for recycled plastics with the highest per capita consumption, providing an opportunity for manufacturers,” Infoholic (India) indicated in its report.

Most of the attention was focused on the gathering of recycled plastics used and discarded by households, or from the marine environment, where people also thoughtlessly throw plastic waste. Some consumers and various activist groups have begun to deal with plastic waste, especially disposable items. This led to a backlash from some media outlets that rejected recycling decisions, calling recycling part of the problem.

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However, most recycled plastic materials come from two main sources: post-industrial waste and post-consumption waste. Post-industrial plastic waste comes from factories that process plastics into products and leave waste - these are unsuitable parts, materials molded in a dispenser and cut waste (during thermoforming and blow molding) that manufacturers cannot use for new parts due to non-compliance with requirements standard / quality. However, many plastics processors, including molding sector, grind this waste and add recycled material to the primary resin as a percentage that is acceptable according to customer specifications. There are doubts that this is taken into account in the statistics on waste processing. Post-industrial waste is in high demand, as it is clean and ready to be crushed for use in new products.

Post-consumption recycling is the type of recycling that is most often considered when calculating the percentage of recyclable plastic waste. This waste, coming mainly from municipal waste processing enterprises, went through the sorting process before being sent to the factory, where the recycled material is cleaned with hot water / chemical bath to remove labels, food waste, etc. This makes it suitable for processing into granules. Recycled materials from post-consumer sources are often unpredictable in quantity / volume and cost more because they require a large number of operations to prepare material for injection molding of new products.

Source: https://polyprofi.ru