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Global Rigid Recycled Plastics Market
The GMI Research foresees an augmentation in the Rigid Recycled Plastics Market over the forecast period. This is because of the expansion of the packaging sector, rising awareness about viable development, and mounting application in industrial and FMCG product sector.
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Rigid Recycled Plastics Market Dynamics
The augmenting usage of recycled plastics across various industrial verticals, such as, textile, packaging, automotive, construction, and healthcare is projected to supplement the growth of the global Rigid Recycled Plastics Market. Also, the surging demand for substantial plastic instruments, accelerating consumption and fabrication of plastic items, reducing waste production, and the growing consciousness towards minimising plastic pollution will further stimulate the growth of the market. Several leading organisation, such as, Plastic Oceans International, the Association of Plastic Recyclers, and Plastic industry organisation are increasingly encouraging the recycling of plastic waste to curb its influence on natural resources. This is projected to proliferate the market growth. In accordance with the Plastic Oceans International, more than 380 million of plastic is produced each year, and it is projected that over 10 million tons of plastic is dropped into oceans. This is further projected to boom the Rigid Recycled Plastic market size.
However, inflated price of recycled plastics than virgin is likely to restrain the market growth. In addition, excessive energy usage and the production of unstable natural compounds and hazardous chemical discharges during the melting down and recycling process will further curb the market growth.
Type Segment Drivers
The polypropylene segment is envisaged to witness a robust growth during the forecast period. This is because of the extensive food packaging industry due to its higher melting point, adjustability, lighter weight, and enhanced finish. Additionally, as per the Rigid Recycled Plastics Market Size Report, their increasing usage in bumpers, fender liners, and battery cases, in automotive industry because of their pliable strength, high temperatures and corrosion resistance will further stimulate the growth of the market.
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Published on November 19, 2021
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