What are the Notable Developments in Recycled Plastics Market?

Recycled Plastics Market

The global recycled PET market size is estimated to grow from USD 27.9 billion in 2021 to USD 43.5 billion by 2026, at a CAGR of 9.3% during the forecast period. Thedriving factors for the recycled plastics market is due to increasing emphasis on sustainability between the consumer and packaging products and increasing demand from the textile, food and beverage industry in emerging economies such as India, China, Thailand, Indonesia, countries in the Middle East, Brazil, and Argentina.

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Indorama Ventures Public Ltd (Thailand), Veolia (France), SUEZ (France), Alpek (Mexico), Jayplas (UK), Waste Connections Inc (US), Biffa (UK), Plastipak Holdings (US), Republic Services (US), and Far Eastern New Corporation Century (Taiwan), B&B Plastics (US), Custom Polymers (US), MBA Polymers (US), KW Plastics (US), B. Schoenberg & Co (US), and Remondis SE & Co. KG (Germany), Clear Path Recycling (US), Stericycle (US), and among others, are the leading recycled plastics manufacturers, globally. These companies adopted new plant expansion, investments, partnerships, and merger & acquisition, as their key growth strategies between 2018 and 2021 to earn a competitive advantage in the recycled plastics market.

Indorama Ventures Public Ltd. is one of the largest player in the recycled plastics market. It is a world-class sustainable chemicals company with a global integrated lead in PET and fibers. It has integrated businesses which are aligned to create a sustainable value proposition. It is one of the world’s foremost-integrated producers in the polyester industry and the largest producer of PET. The company has 273 recycling facilities and 124 manufacturing sites all over world. It is present in Europe, North America, South America, APAC, and Africa.

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SUEZ is the second-largest player of the recycled plastics market, globally. SUEZ is a leading and innovative group with a strong presence across the globe, particularly in Europe. Its focus on growth strategies, such as expansions, contracts, new service developments, joint ventures, and partnerships, will drive its growth in the emerging and developed markets. SUEZ has planned to build a recycling plant in Thailand, which would convert plastic waste into circular polymers. This plant is in line with Thailand’s target for achieving 100% plastic recycling by 2030. This expansion is projected to enhance the company’s presence in Southeast Asia and enhance its expertise in plastic recycling. SUEZ has implemented a balanced and profitable growth strategy.

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