Post-consumer Recycled Plastics Market Analysis and Forecast: Insights into Industry Trends, Drivers, Challenges, and Opportunities
The market for recycled plastics from post-consumer waste is
predicted to experience a growth rate of 6.30% during the period from
2022 to 2029. According to a report from Data Bridge Market Research, the
market analysis and insights highlight the anticipated factors that will affect
the market growth throughout the forecast period. The rising demand for the
product in different industrial applications is driving the expansion of the
post-consumer recycled plastics market.
Market Insights and Scope
Post-consumer recycled plastics are plastics that are no
longer needed and are being discarded as solid waste. They are obtained from
residential and commercial recycling programs and include most disposable
plastics.
The growth of the post-consumer recycled plastics market is
driven by several factors, including the increase in the global urban
population. The demand for lightweight plastic components in various industries
such as automotive, food processing, and construction is also contributing to
market growth. The rise in online purchases of products such as cosmetics,
personal protective equipment, electrical and electronics, and cosmetics has
led to an increased demand for various packaging products, which further drives
the market growth. Rapid industrialization, increased investments, and high
demand for post-consumer recycled plastics in packaging applications are also
factors contributing to market growth.
The market also offers profitable opportunities to market
players due to increased research and development investments in sustainable
packaging solutions and public-private sector partnerships for managing plastic
waste. These factors are expected to positively impact the post-consumer
recycled plastics market during the forecast period from 2022 to 2029.
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