The global recycled plastics market will be worth approximately US$ 56.5 billion (EUR 46.3 billion) by 2026, according to a new study by Research & Markets.
From a worldwide perspective, the plastics recycling market is highly competitive and fragmented with many players large and small competing with each other, the analysts observe. North America currently enjoys a leading position owing to the region’s growing demand for recycled plastics – driven by both government and industry sustainability targets. It is followed by Europe, Asia Pacific, Latin America, the Middle East and Africa.
Packaging, notably plastic bottles, still represents the biggest source of raw materials for the recycling industry. Bottle-to-bottle recycling has been gaining momentum for several years, while plastic scrap also serves the manufacture of medicine packaging, food trays and oils.
It’s obvious there is a lot to say about plastics. That’s why Recycling International is preparing another Plastics Special and this annual focus on the sector will be published in November. As always, we will major on the latest innovative breakthroughs and best practices regarding plastic scrap. Please contact us with any content suggestions via: [email protected]
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