Latest report: Global recycled plastics market valued at $43.5 billion in 2026!

According to the latest report released by MarketsandMarketstm, "Global Recycled Plastics Forecast to 2026 - by Type (PET, PE, PP, PVC, PS), Source (Bottles, Films, Fibers, Foams), Applications (Packaging, Textiles, Building and Construction, Automotive, Electrical and Electronics) and Regions", the global recycled plastics market is expected to grow from US$27.9 billion in 2021 to US$43.5 billion in 2026, with a compound annual growth rate of 9.3% during the forecast period . There are two main reasons for such a substantial growth. First, people realize that recycled plastics have environmental advantages over virgin plastics, leading to market growth; second, recycled plastics consume less energy than virgin plastics, further promoting the demand for recycled plastics.

PET: The most produced recycled material

Because PET plastic is 100% recyclable, easy to recycle and has low recycling costs, the report predicts that by 2026, PET will become the largest type of recycled plastic.

PET is the world's largest recycled plastic in terms of production volume and will continue to be the most in-demand recycled plastic. PET can be recycled and regenerated over and over again to produce new PET products.

Waste PET can also be broken down into monomers using chemical recycling methods and converted into PET resin through purification. It can be used to produce many products, such as containers, low carbon, textiles, protective packaging, industrial strapping, automotive parts and building materials. PET is the plastic with the highest recycling rate in the world, which is only limited by the amount that can be recycled.

Plastic bottles: the largest and fastest growing recycled source Plastic bottles will be the largest and fastest growing source of recycled plastic. Post-consumer PET bottles are the most commonly recycled plastic due to their high recycling feasibility and good collection and sorting.

Textiles: The main use Textiles are one of the main uses of recycled plastics, and recycled PET is the most used in textile applications. In the past five years, in order to reduce plastic pollution, large clothing companies and enterprises that use recycled plastics in fabrics have grown significantly. Clothes made from recycled plastics are no different from ordinary clothes in quality and texture, so recycled plastics have increased significantly in textile applications.

Asia Pacific: The largest market share in the world The Asia Pacific region is the world's largest market for recycled plastics, accounting for the largest market share. China is the most important emerging market. Since China's ban on the import of waste plastics has affected the global pattern of recycled plastics, many developed countries have to find new "exports" for their growing garbage. Although the destination of these garbage has always been other emerging countries such as India, Pakistan or Southeast Asia, their logistics costs are much higher than China. The report also predicts that North America will become the fastest growing market for recycled plastics.

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