Global Recycled Plastics Market Would Growth With CAGR Of 6.27% From 2017 To 2024
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In the past several years, the global recycled plastics market is relatively stable from 2013 to 2015. Since 2016, China's “Green Fence” is having a dramatic economic impact on the plastics recycling market, making the global general consumption sluggish during the past year. The global actual consumption amount of recycled plastics was around 28995 K MT.
Recycled plastics can be used in various fields, like Packaging, Consumer Goods, Construction, Textile Fiber / Clothing, Landscaping / Street Furniture, etc. Textile fiber / clothing is the largest application of recycled plastics with market share of 30.81% in 2017, since nearly 80% of RPET is used to produce fiber.
Recycled plastics can be classified as PET, PP, HDPE, LDPE and others in terms of material type. HDPE and PET are the major kind of recycled plastics. The market of recycled plastic is highly separated, with China, USA and Europe as the major producing area.
The market of recycled plastic is highly fragmented with a tail of manufacturers. As the largest production area of recycled plastics, there are more than 3000 companies supply recycled plastics. The market concentration in developed areas is higher comparatively. Leading suppliers in the worldwide are Clear Path Recycling, Clean Tech Incorporated, Mohawk Industries Incorporated, CarbonLite Industries, Envision Plastics Industries, Advanced Environmental Recycling Technologies Incorporated, Greentech and Veolia Polymers, which takes a combined share of less than 5% in 2017.
The Global recycled plastics market would growth with CAGR of 6.27% from 2017 to 2024 in terms of revenue. The annual consumption amount of recycled plastics would reach to 40917 K MT in 2024. In the future, the market would still in high growth due to the lift of crude oil price. Also, the consumption in developing countries would be the growth point of recycling market.