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Rising demand for eco-friendly or sustainable plastics is a key factor driving revenue growth of the global certified circular plastics market
— Emergen Research
VANCOUVER, BRITISH COLUMBIA, CANADA, July 25, 2022 /EINPresswire.com/ — The global certified circular plastics market size is expected to reach USD 3.93 Billion in 2030 and register a steady revenue CAGR of 12.3% over the forecast period, according to latest analysis by Emergen Research. Steady certified circular plastics market revenue growth can be attributed to rapid rise in demand for eco-friendly and sustainable plastics and packaging materials. Plastics output around the globe has reached 311 million metric tons, and it is expected to grow at a rate of roughly 4% per year over the foreseeable future. While plastics provide numerous benefits in terms of packaging and usage etc., concerns continue to increase regarding the potential harm that chemical components of plastics can cause to human health and the environment. A circular economy reduces waste, maximizes value, and makes effective use of plastic. This will also help to safeguard the environment, minimize marine litter, greenhouse gas emissions, and human reliance on fossil fuels in the process.
The Global Certified Circular Plastics Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2022-2030. The report studies the historical data of the Certified Circular Plastics market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Certified Circular Plastics industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Certified Circular Plastics market.
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Certified Circular Plastics Market Growth & Trends
On 26 May 2021, circular economy-focused investment firm, Closed Loop Partners, joined forces with three leading plastics and material science companies, including Dow, LyondellBasell, and NOVA Chemicals, to establish the Closed Loop Circular Plastics Fund (CPF), which is a multi-million-dollar fund to accelerate investment in plastics recycling infrastructure.
Polyethylene Terephthalate (PET) segment is expected to register a rapid revenue growth rate over the forecast period. This is attributed to the material being very commonly recycled. PET is widely recycled due to its significant advantages over other types of plastics. For starters, PET is a relatively inert polymer and ideal for food containers as it has essentially no contact with the contents.
It has the ability to form an oxygen and water barrier and can be produced quickly. PET is also extremely durable and lightweight, making it excellent for beverage bottles. It can also be used to manufacture translucent bottles, which is not possible with Polyethylene (PE) or Polypropylene (PP).
The packaging segment is expected to lead in terms of revenue share in the global market over the forecast period owing to increasing initiatives by various companies to become more sustainable. Marks & Spencer, for example, is looking into the feasibility of making all of its own-brand plastic packaging from a single polymer by the end of 2022 in order to make recycling easier.
In addition, much of today’s packaging, such as crisp packs and pet food pouches, are flexible and consist of a mixture of materials, adhesives, and coatings that are difficult to separate and recycle. In order to solve this, CEFLEX, which is a collaboration of European firms and NGOs representing the flexible packaging value chain, is working to define robust design criteria for flexible packaging as well as the infrastructure that collects, sorts, and recycles these.
Top competitors of the Certified Circular Plastics Market profiled in the report include:
BASF SE, SABIC, INEOS Styrolution Group GmbH Mainzer Landstraße, The Dow Chemical Company, Exxon Mobil Corporation, Eastman Chemical Company, Lyondell Basell Industries Holdings B.V., Loop Industries, Inc., Chevron Phillips Chemical Company LLC., and IBM Corporation.
The research will assist stakeholders in understanding the pulse of the market by offering information on main market drivers, constraints, challenges, and opportunities. The report gives a thorough depiction of the worldwide Certified Circular Plastics market’s geographical scope. The competitive landscape of the Certified Circular Plastics market is included in the research. Key market participants have prioritized product innovations, mergers and acquisitions, collaborations, current advancements, joint ventures, and partnerships.
Certified Circular Plastics Market Segmentation
Emergen Research has segmented the global certified circular plastics market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Million; 2019–2030)
Application Outlook (Revenue, USD Million; 2019–2030)
End-Use Outlook (Revenue, USD Million; 2019–2030)
Food & Beverages
Building & Construction
Electrical & Electronics
The Global Certified Circular Plastics Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
Regional Analysis of the Certified Circular Plastics Market:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The research report on the Certified Circular Plastics market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Certified Circular Plastics business sphere.
Key Objectives of the Report:
Analysis and estimation of the Certified Circular Plastics market size and share for the projected period of 2022-2030
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Certified Circular Plastics market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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