Global Post-consumer Recycled Plastics Market: Snapshot
The massive business value that plastics has been associated with over the past several years has caused their bans cutting slack. With new options for recycling, in relation to technology and the will of governments to do, banning has become impractical and will remain so in some time to come. The global post-consumer recycled plastics market has made strides on the back of the increasing inclination of brands to recycle plastics. The proclivity in large part is driven by the adoption of sustainability initiatives and to an extent by several waste management legislation in various parts of the world. Plastics additive manufacturer have been focusing on preserving the value chain of plastics, in the light of the versatile use of plastics.
A growing number of brands are seeing large capitalization potential in the path of sustainable packaging and products. The key motivation for doing so is to divert the plastic waste away from landfills. Plastic manufacturers have also shown an increasing stake in the post-consumer recycled plastics market is the reduction of carbon footprints.
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The value chain of the post-consumer recycled plastics market are collection and transportation, recycling, landfills, and incineration. The key materials that are recycled are PP, PET, LPPE, HDPE, PVC, and PS. Among these, Polyethylene terephthalate (PET) due to abundance use has risen in popularity as the material recycled in the post-consumer recycled plastics market.
Global Post-consumer Recycled Plastics Market: Growth Dynamics
Growing partnerships among companies on reclaiming post-consumer waste products for recycling is paving way to new avenues in the post-consumer recycled plastics market. Advent of the state-of-the-art reclining technologies and growing adoption for using the waste innovatively are factors shaping the contours of the market.
Growing awareness among consumers of the high carbon footprint of plastic waste has reinforced interest in the post-consumer recycled plastics market. Over the past few years, around the world numerous companies that claim to be green and sustainable businesses have started adopting post-consumer recycled plastics. This is opening new avenues in the market. The use of post-consumer recycled plastics has also been filliped by implementation of regulations that reduce plastic waste.
A significant part of the momentum to the post-consumer recycled plastics has come from initiatives taken by cosmetic companies in the uptake. Rapid pace of urbanization around the world has stirred industry players to reduce the carbon footprint of plastic recycling, expanding the revenue prospect in the post-consumer recycled plastics market.
Global Post-consumer Recycled Plastics Market: Notable Developments
The post-consumer recycled plastics market has seen chemical companies and businesses in other industries partnering with players that engage in post-consumer waste products for recycling. This will fuel the utilization of reclaimed polymers to be used as a chemical feedstock.
A U.S.-based specialty plastic company, Eastman Chemical Company, has entered into an agreement with Circular Polymers, to utilize post-consumer recycled plastics. The former has chosen this to extract PET fiber from carpet as use it as a feedstock for its chemical recycling technology. The low recycling rate of the plastics from carpet has ignited interest of Eastman in post-consumer recycled plastics. A growing number of robust recycling programs has reduced the cost of carpet reclamation, incentivizing entrepreneurial growth ambitions.
Some of the well-entrenched players in the post-consumer recycled plastics market are DS Smith, Remondis SE & Co. Kg, Waste Connections, Inc., Stericycle, Waste Management Inc., and Veolia Environmental Services.
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Global Post-consumer Recycled Plastics Market: Regional Assessment
On the regional front, North America has been contributing generously to the revenues of the global post-consumer recycled plastics market. Advancements made in plastic recycling programs and high consumer awareness have cemented consolidated the shares of the global market. Some of the other key regions in the post-consumer recycled plastics market are Asia Pacific, Europe, South America, and the Middle East and Africa.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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