The strengthening government backing for recycling plastic is expected to create a further impetus for the Plastic Recycling Market Size. The rapid development in the economic status of end-users has increased their purchasing behavior, which includes products that are packaged with plastics. Furthermore, innovations in recycling technology and understanding of the benefits of recycling are expected to push the development of the market in the forecast period.

Segmental Analysis

The segmental study of the Plastic Recycling Market Size is segmented on the basis of the recycling process, material, region, and application.  Based on the materials, the Plastic Recycling Market Size is segmented into high-density polyethylene (HDPE), polyethylene terephthalate (PET), polypropylene (PP), low-density polyethylene (LDPE), and others. Based on the recycling process, the market for plastic recycling is segmented into chemical and mechanical. On the basis of application, the Plastic Recycling Market Size is segmented into textile, construction, packaging, automotive and others. On the basis of regions, the Plastic Recycling Market Size is segmented into the Middle East, Africa, Europe, North America, and the Asia Pacific.

Regional Analysis

The regional examination of the Plastic Recycling Market Size includes regions such as the Middle East, Africa, Europe, North America, and the Asia Pacific. The Asia Pacific region is discernible with speedy financial development, a growing population, and numerous policies and regulations to back environmental protection and waste control. China has been the receiving center of plastic waste from around the world and has been observed as the front-runner among the scrap customers. With rising recognition and optimistic monetary health in the Asia Pacific, it is also observed that a robust set of outlines for waste management. China is a foremost country in imports for waste plastics, as the country obtains roughly 56% of the international imports of plastic waste.

Competitive Analysis

The substantial companies in the Plastic Recycling Market Size are Custom Polymers, Inc. (US), CarbonLITE Industries (US), Plastic Recycling Inc. (US), MBA Polymers Inc. (US), UltrePET, LLC (US)