Recycled US Plastics Resin Market
To provide an overview of the recycled U.S. plastics resin market overall (resins are the main base of all plastics) and the 2017 and 2018 U.S. recycled plastics resin market split in resin type by sales or volume and the percent value of recycled resin within that type for that year in order to develop a business plan as a base for volume and financial assumptions.
Our initial research on the recycled U.S. plastics resin market revealed insights. Here are key pieces of information we found:
Recycled U.S. Plastics Resin Market
- The global recycled plastics resin market size is projected to grow from USD 7.7 billion in 2019 to USD 10.2 billion by 2024, recording a CAGR of 5.7% during the forecast period.
- An increasing urban population, rapid industrialization, and growing concern towards the environmental impact of the improper disposal of plastic waste, along with laws and regulations regarding disposal and treatment of plastic waste, have driven the growth of the global recycled plastics resin market.
- The recycling segment is projected to grow at the highest CAGR during the forecast period, in both value and volume, and this trend is projected to continue throughout the forecast period.
- The North American region is projected to be the fastest growing market for the recycled plastics resin market in terms of value. The market in this region is driven by technological advancements in the waste management industry and laws governing the plastic waste collection, disposal, and recycling.
- The U.S. is projected to be the largest consumer of services offered by plastic waste recyclers, boosting the market for recycled plastics in North America.
- U.S.-based reclaimers competed effectively in the plastic bottle recycling segment for 2017, keeping more domestically-generated material by volume in the U.S. on a percentage basis.
- However, sales in the U.S. market for recycled HDPE resin from plastic bottles fell by 6.3% in 2017 compared to 2016 results.
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