Pune, March 22, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, The global R-PE (Recycled- Polyethylene) market is expected to grow from USD 11.25 billion in 2020 to USD 24.44 billion by 2028, at a CAGR of 10.16% during the forecast period 2021-2028.
The rising awareness about saving the energy and high demand from consumer goods manufacturer are some of the factors fuelling the Recycled PE market.
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Recycling polyethylene is very important for the environment.It is also widely used in the making of bags, container and bottles, which the daily consumer encounter every day. As polyethylene is not a biodegradable material so landfilling is not the solution in this case. So recycling polyethylene is very important as it is hazardous for the environment. The recycling of polyethylene is comparatively to carry out. The waste plastic can be melted and then can be moulded while it solidifies, and make it reusable.The use of recycled polyethylene in a wide variety of goods drive this market. The rising awareness about saving the energy, rapid industrialization and high demand from consumer goods manufacturer are the factors driving this market. The lack of knowledge about the properties of different types of plastics is acting as a significant restraint in the recycling process.There is a development in technologies with the time which leads to the launching of new technologies like monomer recycling and pyrolysis on an industrial level. This would give the recycling organization a unique opportunity for the market in the forecasting period.
The lack of knowledge about the properties of different types of plastics are acting as great restraint for the market. The lack of knowledge leads to combine different kind of plastic in the manufacturing process. The recycling of such products become very difficult, which can lead to incineration of plastic. This incineration of plastic is a significant waste of valuable resources. So this is acting as main restraint for the market.
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Key players for the global Recycled PE market include Suez, Jayplas, B&B Plastics, Green Line Polymers, Veolia, Clear Path Recycling, Custom Polymers, B. Schoenberg & Co., KW Plastics and Plastipak Holdings among others.
• The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global recycled PE industry.In September 2017, Suez acquired GE water &process technologies. This acquisition made the organization, the world leader in the industrial water market. The company is now capable of supporting other industry in resource management.
• In May 2018, Green Line Polymers Inc installed the NGR recycling machine. This machine recycles many types of plastic scrap, including PE scrap materials. These recycled products are used for the production of many advanced piping products and for water management solutions.
High-density Polyethylene is accounted for the highest market value of USD 4.07 Billion in 2020
The material segment is divided into High-density Polyethylene, Medium-density Polyethylene, Low-density Polyethylene and Others. High-density Polyethylene is accounted for the highest market value of USD 4.07 Billion in 2020 because it is widely used by the consumer goods manufacturing companies.
The mechanical recycling segment is dominating the market with the market value of USD 5.20 Billion in 2020
The method segment includes chemical recycling, biological recycling and mechanical recycling. The mechanical recycling accounts for USD 5.20 Billion of market value in 2020. The mechanical recycling held the highest market value at present, but slowly and slowly chemical recycling demand is increasing as is considered the most advanced technologies. The recycled products coming out from mechanical recycling is having lesser quality.
Bottles segment is dominating the market with the highest market value of USD 2.86 Billion in 2020
The source segment includes bottles, films, foams, fibers and others. The bottle segment accounted for the highest market value of USD 2.86 Billion in 2020 and it seems continue during the forecasting period. The main reason is there is already an established infrastructure system for bottle recycling and also for bottle collections.
Packaging segment is dominating the market with the highest market value of USD 3.35 Billion in 2020
The end-user segment includes packaging, automotive, textiles, constructions and electrical & electronics. The packaging segment is expected to have the highest market value of USD 3.35 Billion in 2020. There is an increase in demand for biodegradable and recycled packaging material
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Regional Segment Analysis of the Recycled PE Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the Recycled PE market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific region is having the highest market value of USD 5.76 Billion in 2020. The fast paced development & urbanization, rise in disposable income of the people in the developing countries of the region and the government strict policies for proper disposal of wastage and recycling of non-biodegradable products are some of the reasons for having the highest market value. Europe has the second largest market share. The country like Russia, UK, Italy held the largest share of the market in the region. The increasing demand for flexible packaging in the region and the initiative taken by the European Union are some of the reasons for having second largest market share of this region.
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About the report:
The global Recycled PE market is analysed on the basis of value (USD Billion).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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