Global R-PE (Recycled-Polyethylene) Market Size to Surpass USD 24.44 Billion Growth by 2028 | Increasing Demand for Flexible Packaging
According to The Brainy Insights, the global R-PE (Recycled-Polyethylene) market size is projected to reach USD 24.44 billion by 2028 from its value of USD 11.25 billion in 2020, at a CAGR of 10.16% during the forecast period. The market will experience rapid growth due to the growing adoption of sustainable and eco-friendly products during the forecast period.
Newark, Oct. 10, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 11.25 billion in 2020 global R-PE (Recycled-Polyethylene) market will reach USD 24.44 billion by 2028. The stringent government regulations banning single plastic and promoting sustainable practices like recycling and reusing products will augment the market’s growth. These actions are prompted by the growing menace of plastic pollution entering the human food chain and impacting community health. It is also impacting the flora and fauna of the earth. The private players in the market are also innovating and adopting such products to reduce their contribution to plastic pollution.
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Key Insight of the Global R-PE (Recycled-Polyethylene) Market
Asia Pacific is expected to rise the fastest during the forecast period.
The stringent government regulations to reduce plastic pollution will augment the market’s growth. The growing consumer demand for sustainable products will also assist the market’s growth. The private players in the market are also gravitating towards R-PE to avoid a government crackdown.
In 2020, the high-density polyethylene segment dominated the market with the largest market share of 36.2% and a market revenue of 4.07 billion.
The material segment is divided into High-density Polyethylene, Medium-density Polyethylene, Low-density Polyethylene and Others. In 2020, the high-density polyethylene segment dominated the market with the largest market share of 36.2% and a market revenue of 4.07 billion.
In 2020, the mechanical recycling segment dominated the market with the largest market share of 46.24% and market revenue of 5.20 billion.
The method segment includes chemical recycling, biological recycling and mechanical recycling. In 2020, the mechanical recycling segment dominated the market with the largest market share of 46.24% and market revenue of 5.20 billion.
In 2020, the bottle segment dominated the market with the largest market share of 25.41% and market revenue of 2.85 billion.
The source segment includes bottles, films, foams, fibres and others. In 2020, the bottle segment dominated the market with the largest market share of 25.41% and market revenue of 2.85 billion.
In 2020, the packaging segment dominated the market with the largest market share of 29.77% and market revenue of 3.34 billion.
The end-user segment includes packaging, automotive, textiles, constructions and electrical & electronics. In 2020, the packaging segment dominated the market with the largest market share of 29.77% and market revenue of 3.34 billion.
Advancement in market
October 2023 – Coca-Cola India, a beverage corporation, made a landmark statement by introducing completely recycled PET bottles for its trademark Coca-Cola brand as part of its most recent sustainability drive. The ecology and the Indian consumer market stand to benefit from this endeavour. The action is a component of Coca-Cola’s worldwide commitment to minimizing its environmental impact. Food-grade recycled PET (polyethylene terephthalate) is used to produce recently launched recycled PET bottles. This material is recycled in compliance with the guidelines for food-grade recycled materials authorized by the European Food Safety Authority (EFSA) and the US Food and Drug Administration (FDA). Guaranteeing that these eco-friendly bottles adhere to all the safety regulations for packaging.
|Projected Market Size in 2028||USD 24.44 billion|
|CAGR Growth Rate||10.16%|
|Key Market Players||Suez, Jayplas, B&B Plastics, Green Line Polymers, Veolia, Clear Path Recycling, Custom Polymers, B. Schoenberg & Co., KW Plastics, Plastipak Holdings|
|Key Segment||Material, method, source, end userand regions.|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
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Driver: The increasing demand for sustainable economic practices.
The climate change concern has caused a flurry of changes in the world, and countries are shifting towards more eco-friendly and sustainable products, devices, systems, and practices. Single-use plastic is banned in most countries, driving the demand for recycled polyethylene. R-PE reduces garbage production as it is recyclable and can be reused several times. Consumer awareness regarding plastic waste’s negative and irreversible consequences has also prompted them to make more informed purchasing choices. Therefore, the increasing demand for eco-friendly and sustainable products and practices will drive the market’s growth.
Restraints: the lack of infrastructure.
The need for a collection, segregation, and processing unit to recycle plastic is a capital-intensive and fairly extensive process. The operational and maintenance costs are also high. Furthermore, the lack of basic infrastructure, meaning plastic collection, dumping or storing, transportation, separation and processing units in low- and middle-income countries will restrain the market’s growth.
Opportunities: the growing adoption of sustainable packaging solutions in the food and beverages industry.
The increasing consumer demand brought on by the expanding global population will contribute to a rise in the demand for food and beverages. The population’s increased disposable income will enhance their purchasing power parity, assisting the food and beverage business. Globally, there are more stores, supermarkets, and restaurants due to rapid urbanization, which serves the wealthy suburban population. Due to the strict government regulations, the food and beverage industry’s participants have begun using recycled plastic packaging. Strict government rules and the growth of the food and beverage business will lead to a sustainable packaging solution and fuel the market’s growth throughout the forecasted period.
Challenges: the lack of knowledge regarding various grades of plastic.
The average consumer does not know the various grades of plastic available in the market. The lack of information and awareness on the part of government or private market players and consumers leads to confusion and prolific use of unrecyclable plastic. Therefore, the lack of knowledge about various grades of plastic will challenge the market’s growth.
Some of the major players operating in the global R-PE (Recycled-Polyethylene) market are:
• B&B Plastics
• Green Line Polymers
• Clear Path Recycling
• Custom Polymers
• B. Schoenberg & Co.
• KW Plastics
• Plastipak Holdings
Key Segments covered in the market:
• High-density Polyethylene
• Medium-density Polyethylene
• Low-density Polyethylene
• Chemical Recycling
• Biological Recycling
• Mechanical Recycling
• Electrical & Electronics
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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