Plastics - Outlook
Our plastic recycling process involves taking post-consumer and post-industrial plastic waste and transforming it into high-quality, recycled plastic pellets. We use advanced technologies to sort, clean, and process plastic waste, ensuring that we produce consistent and high-quality material.
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Global Plastic Market
Global Plastic Recycling Market to Reach $47.3 Billion by 2026
The process of recovering different classes of plastic materials that can be reused in other forms is known as plastic recycling. Growth in the global market is being driven by ongoing efforts toward environmental sustainability, prompting industries to focus on plastic recycling. The increasing focus on plastic recycling is also attributed to its increasing use in various industrial applications like product packaging, electronic components and automotive interiors. Some of the textile makers are also using recycled plastic for material production. Another prominent factor boosting the market is availability of advanced plastic waste management technologies. Growing government support in countries such as India, China, Southeast Asia, Brazil and European nations to promote the use of recyclable plastic products augurs well for the market
Indian Plastics Market
Due to the enormous potential of the Indian market, local businesses have been encouraged to develop their technical skills, meet high-quality requirements, and expand their capabilities across a wide range of sectors of the growing plastics industry. There have been phenomenal advancements in the petrochemical industry, and combined with the progress in the plastic machinery sector, they have helped forward the plastic processing industry immensely.
The consumption of plastics in India has significant regional variation, with Western India accounting for 47%, Northern India for 23%, and Southern India for 21%. The end-use sectors of automotive, packaging (including bulk packaging), plastics applications, electronic appliances, etc.,
Our Approach
Our plastic recycling process involves taking post-consumer and post-industrial plastic waste and transforming it into high-quality, recycled plastic pellets. We use advanced technologies to sort, clean, and process plastic waste, ensuring that we produce consistent and high-quality material.
RECYCLING MARKET – OUTLOOK
Global Recycling Market
The global waste and recycling market is projected to experience rapid growth in the coming years due to advancements in technology, new regulations, and increased demand for recycled content. The growth highlights the strong momentum of the circular economy, supported by policymakers, major manufacturers, and recycling and waste management firms. In the future, there is a strong likelihood of a shift towards greater utilisation of recycled materials and the adoption of waste prevention and reuse models. The market was valued at USD 60.41 Billion at the end of 2022 and is anticipated to reach USD 88.01 Billion by 2030.
Indian Recycling Market
The concept of the circular economy is relatively new to India; slowly it is gaining prominence. The waste management industry in India holds significant potential, as currently, only 30% of the 75% recyclable waste is being recycled. The need for improvement in waste management arises due to the shortage of appropriate policies for collection, disposal, and recycling, along with the lack of efficient infrastructure in the country. The Indian recycling market is estimated to grow USD 35.87 Billion by 2028.
Source: https://www.precedenceresearch.com/recycled-metal-market
