Recycled Plastic Market
To understand the recycled plastic market by obtaining information on market size, trends, and policies or trade agreements banning or promoting recycled plastic products/solutions.
- Persistence Market Research reveals that there is a shift toward using recycled plastic products.
- The Coca Cola Company announced that it would "invest millions of pounds in its Lincolnshire manufacturing unit to ensure the use of 50% recycled plastic in all of its bottles".
- Some smaller companies have also "pledged to use 100% recycled plastic bottles by 2020".
- According to Hexa Research, the recycled plastics market size is predicted to reach $54.57 billion by 2025.
- On the contrary, a Slate report suggests that this market is declining due to China’s decision in 2017 to stop importing recycled materials. China’s National Sword policy has banned plastics and placed stringent standards on its paper imports.
- According to GlobeNewswire, increasing awareness about environmental concerns is a major factor driving this market.
- The major competition challenging the recycled plastics market is virgin plastics. However, the fact that these virgin plastics are non-biodegradable has served as an advantage for the recycled plastics market.
- In addition, GlobeNewswire reveals that the Asia Pacific region has been dominating this market since 2017.
PROPRIETARY RESEARCH AVAILABLE
We found some proprietary research from one of our data partners which may be helpful:
Global Recycled Plastics Market 2018-2022 (TechNavio, $3,500 | Sections starting at $230)
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Proposed next steps:
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Our background search reveals that there is sufficient (but contradictory) information on the state of the recycled plastics market. Therefore, we recommend:
1) Further research to determine whether this industry is indeed GROWING or DECLINING. Our findings would be corroborated by multiple sources to ensure that it is reflective of the true state of the market.
2) Research to identify 3-5 policies and/or trade agreements that have banned or promoted recycled plastic products/solutions. For each policy identified, we would provide their impact on the industry.
Also, we recommend providing 5-7 trends in the recycled plastics market. The research team would provide a balanced mix of current and future trends.
Finally, we suggest providing a SWOT analysis of the recycled plastics market.