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APAC Recycled Thermoplastic Market is expected to reach over $4.5 trillion from Construction Industry

Author : Rahul Varpe | Published Date : 2019-04-15 

Global Market Insights provides a detailed overview of Recycled Thermoplastic market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Recycled Thermoplastic market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

The steady growth in the Asian automotive industry owing to significant production and sales of vehicle in the region will boost the recycled thermoplastics 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. 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.

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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 recycled thermoplastics market 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 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 thermoplastics market demand in coming years.

The prominent players in the recycled thermoplastic market include:

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

In terms of revenue, the U.S recycled thermoplastics 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.

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Recycled thermoplastics 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.

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 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.

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 Recycled Thermoplastic Market by 2025.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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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