The worldwide plastic recycling industry will witness almost 6% growth by 2026, according to new data released by research firm MRRSE. This would yield revenue of more than US$ 56.8 billion (EUR 50 billion), up from US$ 31.5 billion in 2015.
‘As the global reliance on and consumption of plastics continues, the international plastic recycling market is likely to witness an upward trend in the coming years,’ says the MRRSE report. This is especially true for PET and HDPE, it adds, which have been in high demand recently.
An extensive list of recycled plastic applications, such as packaging, construction, consumer goods, construction and automotive, present ‘emerging opportunities’ for the plastic recycling market, says MRRSE.
Demand for plastic recycling is expected to remain ‘steady’ in the future as the packaging industry continues its contributions in reducing the carbon footprint of packaging materials.
The report offers a detailed view of industry developments by material as well as application and different world regions (North America, Europe, Asia Pacific, Middle East & Africa).
Key players profiled in the report include CarbonLite Industries, Kuusakoski, MBA Polymers UK, Novolex, Plastipak Holdings WM Recycle America, and B&B Plastics Inc.
Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.