Recycled Thermoplastics Market by Application (Packaging, Automotive & transportation, Building & Construction, Electrical & Electronics) 2018-2024
Expansion in electrical & electronics industry in North
America is one of the contributing factor that will positively influence the
overall Recycled
Thermoplastic Market size in coming years. Recycled thermoplastics is
used in electrical & electronics industry for cable & wire insulation,
cable trunking, refrigerator trays/linings, tv cabinets, kettles, etc. Global
production of the electrical & electronics industry was worth more than USD
4.5 trillion in the 2017 and the U.S. alone holds 10% of the global share
making it the second largest producer in the world.
Increasing household spending along with technological
advancements in the telecommunication & IT sector will act as a
contributing factor that will bolster the electrical & electronics industry
growth specifically in North America region. The aforementioned trends are
expected to continue driving the recycled thermoplastic market over the forecast
period.
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Recycled Thermoplastics Market size will surpass USD 95
billion by 2025; according to a new research report by Global Market Insights,
Inc. Building & construction industry growth will act as a major fueling
factor for recycled thermoplastic market in recent times. Recycled
thermoplastics are widely used in sidings, panels, insulation, doors, plumbing
fixtures, floorings, bathroom units, railings, gratings, structural decorative
in the building & construction industry.
In Asia Pacific, the construction industry output is
expected to reach USD 4.8 trillion by 2021. This trend will follow due to
stimulus initiatives taken by the governments of China and India and this will
subsequently influence the recycled thermoplastic market growth positively in
forecast spell.
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Based on type, the industry is categorized into non-bio
degradable and biodegradable recycled thermoplastics. Non-biodegradable shows
the substantial growth with CAGR more than 9% by 2024 on the basis of volume.
This is all due to the low prices and ease of availability of the product in
the market and will boost the entire recycled plastics market growth in coming
years.
Based on volume, granules will capture over 25% share of
the entire segment in coming years. This is all due to its extensive usage to
produce the packaging products for various end use industries such as food
& beverage, etc.
Based on technology, blow molding witnesses a substantial
growth with CAGR of around 8.5% in the forecasted timeframe. The usage of blow
molding technique for the production of bottles and containers and will
subsequently spur the demand of technology in future.
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On the basis of region, China recycled thermoplastic market
will witness CAGR of more than 8% in coming years with revenue of more than USD
5 billion by 2025. Rise in population along with improvement in standard of
living will significantly enhances the electrical & electronics, furniture
& housewares industry in the country, thus influencing the demand of the
product in positive manner in the region.
The key recycled thermoplastics market players include KW
Plastics, PARC Corporation, B. Schoenberg and Co., Plastipak Holdings, Inc,
Custom Polymers Inc., Suez SA, Merlin Plastics Alberta Inc., Revital Polymers,
Ricova International Inc., RJM International Inc, JP Industrial, MRC and
others.
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Global Market Insights:
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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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Us:
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Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Recycled Thermoplastics Market by Application (Packaging, Automotive & transportation, Building & Construction, Electrical & Electronics) 2018-2024
Reviewed by snehal
on
July 17, 2018
Rating:
Reviewed by snehal
on
July 17, 2018
Rating:
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