Opportunity Worth USD 50 Bn Opening Up Plastics Recycling - Exclusive Research Published by MarketsandMarkets™

25 February 2022

Plastic Recycling Industry Disruptions – Potential opportunity worth USD 50+ Bn is expected to be created in plastic recycling, owing to the environmental sustainability, which is driving the circular economy. Plastic recycling is anticipated to play a key role for business sustainability, providing billion-dollar incremental revenue opportunity to stakeholders across the value chain.

According to MarketsandMarkets analysis,

  • Chemical companies are taking initiatives across the value chain to improve quality of recycled plastics as well as addressing sorting challenge.
  • Climate change remains our planet's single greatest challenge and is expected to play a significant role in terms of the transition to a circular economy.
  • Governments are fast leaning towards environmental sustainability.
  • Currently, mechanical recycling dominates the global recycling market.
  • Consumer product companies have set ambitious targets for incorporating recycled plastic into their packages—25% of their total packaging by 2025.

Unknowns and Adjacencies

Currently, businesses have low access to primary intelligence to clarify some unknowns and adjacencies in these opportunity areas –

  • Recycling rates are low in different economies. Currently it ranges between 20-30% globally, although it is higher in developed economies. With a strong need of low carbon economies, the materials use pattern would change significantly.
  • Recycling and re-use-based economy to flourish and need of recycled materials to increases in future.
  • Commercial variability of different materials to increase with technology and government playing a key role.

Some of the growth problems encountered by companies in recycling are:

Customer prioritization and assessing unmet needs:

  • What are the disruptions in our clients' businesses? How can we support them for our own growth?
  • Who are the most potential customers going forward? Which recycling to be prioritized?
  • What are the key unmet needs? Who are the key stakeholders in different settings? Which new recycling technology offer the maximum benefits?

Where to play:

  • Which end-use we should focus on? Should it be PET, PP. PE, or metals and batteries, or something else?
  • Which regions should we place our bets on? Should we continue with developed countries or do developing countries offer more growth opportunities?

Building a compelling Right-to-Win (RTW):

  • For M&A, which are the right targets for us? Should we enter new markets directly or through partners?
  • How can we differentiate from top players? What is their right-to-win vs ours?

Key uncertainties/perspectives which industry leaders seek answers to:

For plastic recycling companies:

  • What will be relevant and redundant in the next 5 years?
  • Can every type of plastics recycling will be affordable, or will it continue being used for specific type of polymers?
  • How can companies optimize the recycle processes to be more agile and efficient to achieve a more seamless workflow?
  • What regulatory policies can help strategize and achieve scale-up?
  • What can be done to train more people in handling and recycling of plastics?

For Companies in Adjacent markets:

  • What are the regulations on carbon emission limits?
  • How the Lithium-Ion battery recycling is driving this market.
  • What will be the impact of automation on plastics recycling/circular economy?
  • Which are best practices waste management to avoid plastics going to landfills?

Therefore, MarketsandMarkets research and analysis focuses on high growth and niche markets, which will become ~80% of the revenues of companies in the plastic recycling ecosystem over the next 5-10 years.

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Source:prnewswire.com