According to a new report by Reports and Data, the global market for Recycled-Polyethylene (R-PE) is projected to reach USD 23.91 Billion by 2028. Recycling of plastic involves collecting waste plastic scraps, processing them with various technologies, and treating them with additives and chemicals to produce new plastic products. The primary drivers of the recycled polyethylene market are the enhanced quality of recycled plastic products compared to virgin counterparts and strict government regulations.
Although the use of polyethylene in plastic bags has decreased by 70% in the past two decades due to the emergence of biodegradable materials and reusable canvas bags, the majority of bags are still made from polyethylene. Additionally, the demand for high-density polyethylene containers is increasing in India and China due to higher living standards and growing industries. As polyethylene is non-biodegradable and takes centuries to decompose, it is essential that these bags and containers are recycled and reused.
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The demand for recycled polyethylene in the U.S is expected to grow due to various factors, such as the emphasis on sustainability among consumer product manufacturers and packaging, advancements in processing and sorting technologies, and improved collection infrastructure.
The report reveals that high-density polyethylene (HDPE) is accepted in most recycling centers worldwide as it is one of the easiest plastic polymers to recycle. Recycling HDPE has many benefits, such as being more cost-efficient to produce products from recycled HDPE than manufacturing from virgin plastic.
Bottles will be the primary source of plastic for recycling throughout the forecast period due to the well-established collection infrastructure, including laws for depositing bottles in several states. Chemical or feedstock recycling involves converting waste plastic into monomer starting materials or other raw materials by changing the chemical structure of the polymer.
Recycling can help reduce the waste produced due to packaging materials. Due to the rise in plastic waste caused by packaging, market players are focusing on biodegradable and recyclable packaging materials.
Asia Pacific is the largest producer of polyethylene and a significant region for recycled polyethylene, with countries such as China, India, Indonesia, and Japan being key contributors.
Key participants in the market include:
- Suez, Jayplas
- BB Plastics
- Green Line Polymers
- Veolia, KW Plastics
- Plastipak Holdings
- Clear Path Recycling
- Custom Polymers
- Schoenberg Co.
The report segments the global R-PE market based on material, method, source, end-user, and region, including high-density polyethylene, medium-density polyethylene, low-density polyethylene, chemical recycling, biological recycling, mechanical recycling, bottles, films, foams, fibers, packaging, automotive, textiles, constructions, electrical and electronics, North America, Europe, Asia Pacific, MEA, and Latin America.
R-PE (Recycled-Polyethylene) Market: Drive Factors
The R-PE (Recycled-Polyethylene) market is driven by several factors. One of the primary drivers is the enhanced quality of recycled plastic products over their virgin counterparts. Strict government regulations related to plastic waste management and disposal are also contributing to the growth of the recycled polyethylene market.
Another significant factor is the increasing demand for recycled polyethylene due to the emergence of biodegradable materials and reusable bags, which have reduced the use of polyethylene in plastic bags by 70% over the past two decades. However, despite the shift towards sustainable options, the majority of bags are still produced from polyethylene.
Additionally, there is a growing market for high-density polyethylene containers in countries like India and China due to the increased standards of living and higher demand for HDPE cables and pipes in rapidly growing industries. It is important to recycle and reuse these containers and bags as they are non-biodegradable in nature and can take centuries to decompose.
The demand for recycled polyethylene in the United States is also expected to grow due to several factors, such as a growing emphasis on sustainability among consumer product manufacturers and packaging, developments in processing and sorting technologies, and an improved collection infrastructure that raises the polyethylene recycling rate.
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