Global Recycled Plastics Market to Attain a Revenue of USD 45748.1 Million by 2028

Research Nester, in its repository of market research reports, has added a report on the topic “Global Recycled Plastics Market”, which is studied for the forecast period, i.e., 2021-2028. The report includes a brief analysis of the key players operating in the market, along with their latest developments. The report also focuses on the latest market trends, along with the opportunities and the drivers that are expected to drive the market growth during the forecast period.

Plastic pollution is a major concern worldwide. According to the statistics by the Plastic Soup Foundation, the total plastic waste generated in the year 2016 in the United States was 42 Millions of metric tons. Further, India, China, and Brazil, recorded 26.3, 21.6, and 10.7 Millions of metric tons respectively in the same year. The increasing concern for plastic pollution can also be attributed to the growing utilization of single-use plastics. According to the statistics by Ocean Crusaders Foundation, globally around 500 Billion single-use plastic bags are used every year by shoppers. Owing to such rising concerns for plastic pollution, and for the growing demand for plastics amongst the end-users, the need for plastic recycling is growing significantly, which is anticipated to drive the growth of the global recycled plastics market during the forecast period. The market garnered a revenue of USD 36186 Million in the year 2019 and is further projected to touch USD 45748.1 Million by the end of 2028, by growing with a CAGR of 4.5% during the forecast period.

The global recycled plastics market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Out of these, the market in the Asia Pacific is projected to hold the highest market share throughout the forecast period. The market in the region is also anticipated to garner the largest market revenue of USD 22097.8 Million by the end of 2028, up from revenue of USD 16643.6 Million in the year 2019.


The market in the region is also anticipated to grow with the highest CAGR of 5% during the forecast period. The market in the region is segmented by country into India, China, Vietnam, South Korea, Japan, Singapore, Australia, and the Rest of Asia Pacific. Out of these, the market in China is anticipated to hold the largest market share throughout the forecast period and further touch a market revenue of USD 4428.4 Million by the end of 2028, up from a revenue of USD 3556.7 Million in 2019. Alternatively, the market in Singapore is expected to hold the second-leading share and further touch revenue of USD 4198.6 Million by 2028, up from USD 2869.4 Million in 2019. The market in Singapore is also expected to grow with the highest CAGR of 6.1% during the forecast period.


On the other hand, the market in Europe is expected to hold the second-leading market share and touch revenue of USD 8131.8 Million by the end of 2028. The market in the region is further expected to reach USD 6059.8 Million by the end of 2021. The market in the region is segmented by country into the U.K., Germany, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Out of the market in these countries, the market in Germany held the largest market revenue of USD 1658.5 Million in 2019 and is further expected to hold the highest market share throughout the forecast period. The market in the country is also expected to hold the largest revenue of USD 1871.1 Million by the end of 2028. Alternatively, the market in the Netherlands is anticipated to grow with the highest CAGR of 4.8% during the forecast period.


Get a Sample PDF of Recycled Plastics Market Report@ https://www.researchnester.com/sample-request-3229


The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).


For More @ https://www.globenewswire.com/en/news-release/2021/12/08/2348518/0/en/Global-Recycled-Plastics-Market-to-Attain-a-Revenue-of-USD-45748-1-Million-by-2028-Rising-Concern-for-Plastic-Pollution-to-Generate-Opportunities-for-Market-Growth.html

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