The Global Recycled Polyethylene Market Size is valued at 13.59 billion in 2022 and is predicted to reach 34.07 billion by the year 2031 at a 10.94% CAGR during the forecast period for 2023-2031.
The market for recycled polyethylene is experiencing rapid growth due to the mounting concern among companies and consumers regarding sustainability and waste reduction. Recycled Polyethylene, a type of PET plastic that has undergone recycling, finds applications in diverse sectors such as packaging, textiles, and automotive components. Several factors propel market growth, including government regulations focused on plastic waste reduction, growing consumer demand for sustainable products, and the cost advantages it offers compared to virgin RP.
Furthermore, continuous advancements in recycling technology are enhancing the ease and efficiency of the recycling process. Due to its popularity, recycled Polyethylene (RP) is widely utilized in diverse sectors such as packaging, textiles, automotive, and construction. However, it is in packaging where RP finds its most significant market share. The reason behind this dominance is the current substantial demand for environmentally friendly and sustainable packaging solutions.
Recent Developments:
- In April 2023, Dart Container has announced a new attempt to include its branded foodservice packaging into a new recycling programme. Customers in the United States will be able to mail their used Dart foodservice packaging to an appropriate recycler as a result of the change. Customers will first clean the used Dart packaging and check to see if it is composed of paper, polyethylene terephthalate, polypropylene or expanded polystyrene.
Competitive Landscape:
Some of the major Recycled Polyethylene market players are:
- Birch Plastics Inc.
- Dart Container Corporation
- Envision Plastics Industries
- B & B Plastics Inc.
- Indorama Ventures Public Company Limited
- SUEZ
- Republic Services Inc.
- Waste Connections
- Econic Technologies
- CarbonLite Industries Inc.
Market Segmentation:
The recycled polyethylene market is segmented based on product, grade, application and end users. Based on product, the recycled polyethylene market is segmented as low-density Polyethylene, high-density Polyethylene and low-linear- -density polyethylene. Based on grade, the recycled polyethylene market is segmented into injection, food, and others. The market is segmented by application into bottles & containers, films & sheets, bags & sacks, pipes & fittings, and others. Based on end users, the recycled polyethylene market is segmented as packaging, automotive, textiles, agriculture, construction and consumer electronics.
Based On Grade, The Food Grade Segment Is A Major Contributor To The Recycled Polyethylene Market
The category is expected to hold a major share of the global Recycled Polyethylene market in 2022. There is a growing trend in using recycled Polyethylene in food-grade applications. This is driven by several elements, including the need for sustainable packaging solutions, increased consumer demand for environmentally friendly products, and regulatory requirements for food safety. The material undergoes rigorous testing and certification processes to ensure the safety of direct contact with food. Using recycled Polyethylene in food-grade applications offers several benefits. It reduces the dependence on virgin plastic, conserves resources, and minimizes waste generation.
The Packaging Segment Witnessed Growth At A Rapid Rate
The packaging segment is projected to develop rapidly in the global recycled polyethylene market. Recycled Polyethylene is widely employed in diverse packaging applications, serving as a sustainable and environmentally friendly substitute for virgin Polyethylene. This utilization helps diminish the ecological footprint linked to conventional packaging materials. Here are some essential aspects of the application of recycled Polyethylene in packaging. Recycled Polyethylene is extensively utilized in packaging consumer goods, including food products, beverages, personal care items, and household products. It imparts robustness, durability, and effective barrier properties crucial for safeguarding and maintaining the quality of packaged goods.
The North America Recycled Polyethylene Market Holds A Significant Revenue Share In The Region
The North America recycled polyethylene market is expected to register the tremendous highest market share due to rapid industrialization in emerging economies, along with increasing per capita income, population growth, and government policies promoting proper waste disposal and recycling of non-biodegradable products, contributing to making this region a prominent market. The textile industry's growth and exports further enhance the region's position in this market. In addition, Europe is projected to grow rapidly in the global recycled polyethylene market. The region experiences a substantial generation of plastic waste, leading to the establishment of a robust recycling industry for plastics, including PET. Moreover, the region hosts numerous major manufacturers and recyclers of recycled PET (R-PET), making it a central hub for R-PET production and consumption.
Recycled Polyethylene Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 13.59 Bn |
|
Revenue forecast in 2031 |
USD 34.07 Bn |
|
Growth rate CAGR |
CAGR of 10.94 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Product, Grade, Application And End Users |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Suez, Jayla’s, B&B Plastics, Green Line Polymers, Veolia, Clear Path Recycling, Custom Polymers, B. Schoenberg & Co., KW Plastics and Plastipak Holdings among others |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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