R-PE (Recycled- Polyethylene) Market to Boost at a CAGR of 10.16% from 2021 to 2028

The global R-PE (Recycled- Polyethylene) market is expected to reach USD 24.44 billion by 2028, at a CAGR of 10.16% from 2021 to 2028.

NEWARK, UNITED STATES, NEW JERSEY, November 17, 2021 /EINPresswire.com/ — As per the report published by The Brainy Insights, the global R-PE (Recycled- Polyethylene) market is expected to reach USD 24.44 billion by 2028, at a CAGR of 10.16% from 2021 to 2028. Asia Pacific region is having the highest market value of USD 5.76 Billion in 2020. The fast paced development & urbanization, rise in disposable income of the people in the developing countries of the region and the government strict policies for proper disposal of wastage and recycling of non-biodegradable products are some of the reasons for having the highest market value. Europe has the second largest market share. The country like Russia, UK, Italy held the largest share of the market in the region. The increasing demand for flexible packaging in the region and the initiative taken by the European Union are some of the reasons for having second largest market share of this region.

Key players for the global Recycled PE market include Suez, Jayplas, B&B Plastics, Green Line Polymers, Veolia, Clear Path Recycling, Custom Polymers, B. Schoenberg & Co., KW Plastics and Plastipak Holdings among others.

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The material segment is divided into High-density Polyethylene, Medium-density Polyethylene, Low-density Polyethylene and Others. High-density Polyethylene is accounted for the highest market value of USD 4.07 Billion in 2020 because it is widely used by the consumer goods manufacturing companies.The method segment includes chemical recycling, biological recycling and mechanical recycling. The mechanical recycling accounts for 46.24% of market share in 2020. The mechanical recycling is dominant at present all across the world, but due to the contamination and big amount of variety of plastic waste streams in the process, there is a quick adoption of chemical recycling. Also, the recycled product from the mechanical recycled process is less valuable and having lesser quality. So chemical recycling will be having the highest CAGR in the forecast period. The source segment includes bottles, films, foams, fibers and others. The bottle segment accounted for the highest market value of USD 2.86 Billion in 2020 and it seems continue during the forecasting period. The main reason is there is already an established infrastructure system for bottle recycling and also for bottle collections.

The end-user segment includes packaging, automotive, textiles, constructions and electrical & electronics. The packaging segment is expected to have the highest market share of 29.77% in 2020. This is due to the increase in plastic waste by packaging industries. Also, there is an increase in demand for biodegradable and recycled packaging material

The lack of knowledge about the properties of different types of plastics are acting as great restraint for the market. The lack of knowledge leads to combine different kind of plastic in the manufacturing process. The recycling of such products become very difficult, which can lead to incineration of plastic.

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