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Recycled plastic Market Facts, Development and Growth by 2026, Fortune Business Insights™

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Niteshvhaval
Recycled plastic Market Facts, Development and Growth by 2026, Fortune Business Insights™

The Global Recycled Plastic Market size is projected to reach USD 72.6 billion by the end of 2026. The presence of several large scale companies across the world will have a positive impact on the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Recycled Plastic Market Size, Share & Industry Analysis, By Type (Polyethylene Terephthalate, High-density Polyethylene, Polypropylene, Low-density Polyethylene, and Others), By Application (Non-Food Packaging, Food Packaging, Construction, Automotive, and Others), and Regional Forecast, 2019-2026,”

The Recycled Plastic Market was worth USD 37.8 billion in 2018 and will exhibit a CAGR of 8.5% during the forecast period, 2019-2026.

Recycled plasticisthe product that possess the same properties as virgin plastics, but are produced from scratch and waste materials. The primary aim of Recycled Plastic is to reduce the total wastes and bring down the adverse effects of plastic wastes on environmental pollution. The high emphasis on manufacturing methods as well as materials associated with Recycled Plastic will emerge in favor of the companies operating in the market. The increasing demand for the product, resulting from its widespread applications across diverse industries, will contribute to the growth of the market. Accounting to the serious effects of plastic wastes on the environment, governments across the world has imposed strict regulations towards their usage.

 

Asia Pacific to Emerge Dominant; High Demand for Bottled Water to Create Several Growth Opportunities

The report analyzes the ongoing beer market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific is likely to emerge dominant in the coming years. The presence of several bottled water manufacturers will aid the growth of the market. Besides Asia Pacific, the market in North America will witness considerable growth in the coming years driven by the increasing number of government initiatives. As of 2018, the market in North America was worth USD 2.45 billion and this value is projected to increase further in the coming years, owing to the high awareness regarding the use of plastic material.

BROWSE FULL SUMMARY:

https://www.fortunebusinessinsights.com/recycled-plastic-market-102568

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