Global Rigid Recycled Plastics Market – Need for Sustainability Drives Growth | Technavio

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest market research report on the global
rigid recycled plastics market provides an analysis of the most
important drivers expected to impact the market outlook from 2018-2022. Technavio
defines a prominent driver as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

According to Technavio analysts, the global rigid recycled plastics
market will grow at a CAGR of close to 7% during the forecast
period. The need for sustainability is a major trend that is being
witnessed in the market.

Plastic recycling makes an immense contribution to environmental
sustainability through its energy saving potential and intrinsic
recyclability and energy recovery options. The increasing concerns
regarding the environment are expected to drive the growth of the rigid
recycled plastics market. The plastic industry is working on various
initiatives to increase recycling, reduce energy, and prevent litter.
These initiatives aim at increasing the use of polyolefin (PP or PE) and
postconsumer resin (PCR) by focusing on objects used in manufacturing
trash cans, pallets, and tote boxes.

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In this report, Technavio highlights the increasing demand from
developing countries as one of the key factors driving the global rigid
recycled plastics market:

Increasing demand from developing countries

The global rigid recycled plastics market is driven by the growth of the
packaging, construction, and other industries from emerging economies
such as Indonesia, Brazil, India, China, Mexico, and Russia. Several
manufacturers of rigid recycled plastics are shifting their operations
to these regions because of factors such as cost-effective manpower,
increased consumption of recycled plastics, availability of raw
materials, low transportation costs, and less stringent government
regulations and policies. The plastic scraps are usually imported to
APAC countries such as China, India, and Indonesia for their
reprocessing. The emerging countries are expected to lead the rigid
recycled plastics market due to the economic development, open market,
and industrialization.

“The increase in the manufacturing activities in these countries due
to the high GDP is expected to drive the growth of the rigid recycled
plastics market. The emergence of India and China as manufacturing hubs
in APAC is expected to foster the demand for rigid recycled plastics
during the forecast period,” says a senior analyst at Technavio for
research on plastics,
polymers, and elastomers.

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Global rigid recycled plastics market
segmentation

This market research report segments the global rigid recycled plastics
market into the following products (HDPE, PP, and PET), end-users
(packaging, construction, and automotive), and key regions (the
Americas, APAC, and EMEA).

The HDPE segment held the largest market share in 2017, accounting for
nearly 41% of the market. This segment is expected to post significant
growth during the forecast period.

The Americas was the leading region for the global rigid
recycled plastics market in 2017, accounting for a market share
of almost 48%. The market share for this segment is anticipated to
increase to some extent by 2022.

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