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U.S Recycled Thermoplastic Market is projected to grow over $16 billion by 2025

Author : Rahul Varpe | Published Date : 2019-06-07 

The rapid growth in the Asian automotive industry owing to significant production and sales of vehicle in the region will boost the recycled thermoplastic market as the product are used in the indispensable parts of every automobile. Unceasing growth in gross domestic product and improved living standards in the Asian countries will drive recycled thermoplastics demand in the automobile industry.

The construction industry output is anticipated to reach over USD 4.5 trillion over the forecast timeframe in Asian region. This is all due to the extensive inflow of FDI and supportive government regulations and will substantially stimulate the recycled thermoplastic market demand in coming years.

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The U.S recycled thermoplastic market will capture over USD 16 billion by 2025. Expansion in various industries such as packaging, medical and automotive & transportation in the country will boost the market demand in forecast period. In 2016, developing countries such as India, China and Japan accounted around 40% of the global private and commercial automotive sales. This positive trend is anticipated to continue and will bolster the recycled thermoplastics industry in future.

Upsurge in construction activities in emerging economies due to the substantial population growth coupled with increasing demand for housing facilities will act as booster for industry growth over the next few years. The product is mostly used to make doors, panels, window railings, fixtures, sidings, etc. and these products are further used in construction sector for building designing.

The prominent players in the recycled thermoplastic market include:

  • Suez
  • JP Industrial
  • Replas
  • KW Plastics
  • Plastipak Holdings
  • Merlin Plastics Alberta
  • Clear Path recycling

Recycled thermoplastic market is categorized into type, form, technology, product and application. The type of recycled thermoplastic comprises bio and non-bio degradable. In terms of revenue, the non-biodegradable segment will account for over USD 75 billion in 2025, showing a commendable growth in forecast timeframe.

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Based on product, the market is bifurcated into polypropylene, polyvinyl chloride, polystyrene, polyethylene, polyethylene terephthalate and others. In terms of revenue, polyvinyl chloride will witness growth by more than 9% CAGR over the forecast years. Low cost, bio-degradability, along with other desirable mechanical and physical properties of the product makes it suitable for production of automotive parts, accessories and other components.

The different forms of recycled plastics include pellets, granules and flakes. Among these, flakes will account for almost 20% share of entire industry by 2025. This is mainly due to the low price as compared to others coupled with optimum usage of the product in packaging and automotive industry.

The technology segment is segregated into extrusion, injection molding, blow molding, film molding and others. Film molding technology will capture more than 15% share of the entire segment in recycled thermoplastic market by 2025.

Based on application, the industry is segmented into packaging, automotive & transportation, building & construction, electrical &electronics, agriculture & horticulture, furniture & houseware, medical and others. Among these, furniture & houseware will account for almost 8% share in the overall industry by 2025.

 

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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