The global Recycled Plastics for Polystyrene Market size was USD 27.96 Billion in 2021 and is expected to register a revenue CAGR of 9.4% over the forecast period, according to the latest report by Reports and Data.
The key driver driving revenue growth in the Recycled Plastics for Polystyrene Market is the increasing use of recycled plastics in various industries such as packaging, automotive, and others. Because they are lightweight and economical, plastics are a good choice for automobile manufacturers. Furthermore, plastics offer greater design freedom than metals and are corrosion-resistant, long-lasting, and flexible.
Top Companies Operating in the Global Recycled Plastics for Polystyrene Market:
REMONDIS SE & Co. KG, Biffa, Stericycle, Inc., Republic Services, Inc., WM Intellectual Property Holdings, L.L.C., Veolia, Waste Connections, CLEAN HARBORS.INC., Covestro AG., B & B Plastics Inc.
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Some Key Highlights from the Report
- The global Recycled Plastics for Polystyrene Market is divided into bottles, films, fibres, foams, and others, according to the source. In 2021, the bottles category accounted for a sizable revenue share. Recycling plastic bottles reduces carbon emissions since it uses far less energy and fossil fuels. Recycling plastic bottles saves around 3.8 barrels of oil each tonne recycled. Furthermore, by utilising recycled materials instead of new ones, greenhouse gas emissions generated during the manufacture of virgin materials are decreased, fueling revenue development in the segment's Recycled Plastics for Polystyrene Market.
- In 2021, the Asia Pacific market had the highest revenue share. To some degree, rising demand for non-residential construction projects such as hospitals, schools, and universities is driving the region's market revenue growth. The quantity of environmental rules enforced in this region by international bodies such as the Environmental Protection Agency (EPA) is also driving income growth. Furthermore, government initiatives in countries like as India on environmental conservation, such as the Swachh Bharat Abhiyan and the Namami Gange Program, are boosting revenue development in the Recycled Plastics for Polystyrene Market in this region.
- Nestlé announced an investment of up to CHF 2 billion on January 16, 2020, to lead the transition to food-grade recycled plastics from virgin plastics and contribute to the development of novel sustainable packaging solutions.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Recycled Plastics for Polystyrene Market Segmentation
Source Outlook (Revenue, USD Billion; 2019-2030)
- Bottles
- Films
- Fibers
- Foams
- Others
Type Outlook (Revenue, USD Billion; 2019-2030)
- Polyethylene terephthalate
- Polyethylene
- Polypropylene
- Polystyrene
- Poly Vinyl Chloride
- Others
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Packaging
- Building & Construction
- Textile
- Automotive
- Electrical & Electronics Industry
- Others
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