Europe Recycled Plastics Market Size, Top Leading Players, Industry Statistics and Business Prospects 2022-2027

Plastic recycling refers to the procedure of recovering and reprocessing scrap plastic materials into value-added products.

BROOKLYN, NY, USA, March 30, 2023 /EINPresswire.com/ -- According to IMARC Group latest report titled “Europe Recycled Plastics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on recycled plastics market in Europe. The report also includes competitor and regional analysis, and contemporary advancements in the market. The Europe recycled plastics market reached a volume of 11.4 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 15.7 Million Tons by 2027, exhibiting at a CAGR of 5.5% during 2022-2027.

Plastic recycling represents the process of reusing and recovering plastic waste or scraps as functional and valuable products. Some of the common types of plastics comprise polyethylene terephthalate (PET), high-density polyethylene (HDPE), low-density polyethylene (LDPE), and polypropylene (PP). The generated waste goes through five stages: sorting, washing, shredding, identification, classification, and extruding. The recycling of such large amounts of waste plastics aids in saving natural resources that are used to make virgin plastics, thereby maintaining a balance in the plastics sector across the region.

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Market Trends:

The growing environmental consciousness, the rising concerns toward energy consumption, and the increasing awareness regarding the harmful effects of plastic waste in the masses are among the key factors stimulating the Europe recycled plastics market. Moreover, the escalating demand for the product in packaging, automotive, food & beverage (F&B), and electronics sectors is acting as another significant growth-inducing factor. Besides this, the widespread adoption of plastics in making several components of vehicles, owing to the increasing sales of passenger and commercial vehicles, is also propelling the market growth. Furthermore, the launch of various recycling programs and favorable policies by numerous associations and commissions for controlling waste production, encouraging reuse and recycling of scrap plastic, and sustainable plastic disposable solutions, while promoting effective waste management, is positively influencing the market growth. Apart from this, the inflating investments in R&D activities and the rising technological advancements, such as the growing utilization of artificial intelligence (AI), to effectively sort plastic waste and enhance the quality performance of recycled plastic items are expected to fuel the Europe recycled plastics market over the forecasted period.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Müller-Guttenbrunn Group
• MBA Polymers, Inc.
• Paprec Group
• Morssinkhof Rymoplast

Europe Recycled Plastics Market Segmentation:

Our report has categorized the market based on country, source, application and plastic type.

Breakup by Source:
• Plastic Bottles
• Plastic Films
• Rigid Plastics and Foams
• Fibres
• Others

Breakup by Application:
• Packaging
• Electrical and Electronics
• Automotive
• Agriculture
• Construction and Demolition
• Household (Non-Packaging Use)
• Others

Breakup by Plastic Type:
• Polyethylene Terephthalate (PET)
• High Density Polyethylene (HDPE)
• Polypropylene (PP)
• Low Density Polyethylene (LDPE)
• Others

Breakup by Country:
• Germany
• UK
• Italy
• France
• Spain
• Others

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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