How are Governments Fueling Popularity of Plastic Recycling Across the World?
A number of factors such as the surging pressure to reduce waste dumping, burgeoning demand for reprocessed items from end-use industries, and increasing installation of plastic recycling units in Europe and North America are expected to drive the plastic recycling market at a CAGR of 8.6% during the forecast years. The market was valued at $41,238.8 million in 2018 and it is projected to generate $64,139.7 million revenue by 2024. Moreover, the rising enactment of government legislations and initiatives to boost the adoption of recycled products will also steer the market growth in the coming years. Categories under the type segment of the plastic recycling market are polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), and others. Under this segment, the PE category accounted for the largest market share during the historical period (2014), due to the high-volume production of virgin PE, the significant recycling rate f...