Global Plastic Recycling Growth Analysis

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Plastic Recycling market
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According to BlueWeave Consulting, the
global Plastic Recycling market is anticipated to
worth USD 50.2 billion by 2025, with a CAGR of
4.95 during 2019-2025. Global Plastic Recycling
Market is prognosticated to scale new heights in
the upcoming years owing to the rising cost of
production as a result of increasing petroleum
prices. The growth of the market is likely to be
dictated by government regulations favoring the
recycling of plastic waste. Rising awareness
about the pollution caused by plastics and the
energy-saving benefits in the manufacturing of
recycled plastics over virgin plastics are the
major factors driving the growth of the global
market for plastic recycling over the forecast
period. Moreover, the negative environmental
impact of plastics disposal drives the global
recycled plastics market. The production of
plastics has increased manifold over the past few
decades, which has led to the generation of a
tremendous amount of waste, resulting in
environmental concerns.
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Besides, the necessity for a standard recycling
technology for plastic to manage waste
efficiently is also anticipated to catalyze the
expansion of the market over the next couple of
years. Furthermore, continuous research
activities are being undertaken globally, to find
an effective method of the recycling process.
Moreover, the ban imposed on landfills has also
been introduced in several developed countries is
anticipated to drive the market over the forecast
period. On top of these factors, alternative
waste management options for recycling landfill
or incineration are relatively cheap in many
countries. Polyethylene Terephthalate (PET) is
the most Lucrative material Type in the Global
Plastic Recycling Market over the anticipated
period. Based on material, the global plastic
recycling market has been segmented Polyethylene
Terephthalate(PET), Polypropylene(PP),
High-Density Polyethylene(HDPE), Low-Density
Polyethylene(LDPE), Polystyrene(PS), Polyvinyl
Chloride(PVC), Others. Get the Sample Copy of
the Reporthttps//www.blueweaveconsulting.com/glo
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