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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
VANCOUVER, BRITISH COLUMBIA, CANADA, July 6, 2022 /EINPresswire.com/ -- Emergen Research has recently published a detailed report on the global Certified Circular Plastics market formulated through extensive primary and secondary research. The report offers in-depth knowledge and analysis of the Certified Circular Plastics market through verified and validated data curated to offer accurate insights. The report also offers a region wise and country wise analysis of the Certified Circular Plastics market and contains a detailed analysis of the key elements influencing the growth of the market in the region. The research study also contains historical, current, and forecast estimations for each sector, segment, sub-segment, and regions.
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.
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Leading companies profiled in the report are:
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 comprehensive assessment of value chain of the Certified Circular Plastics industry is emphasized in the report to help business owners, stakeholder and field marketing personnel get a clear understanding of the key competency of the different activities involved. The market opportunity analysis offered in the market intelligence report measures various intangible factors such as gross margin, profit, demand and supply, distribution channel and spending power of the customers. Importantly, the study classifies the industry into an array of segments based on product type, application and consumer preference.
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)
Polyethylene Terephthalate
High-Density Polyethylene
Polyvinyl Chloride
Low-Density Polyethylene
Polypropylene
Polystyrene
Others
· Application Outlook (Revenue, USD Million; 2019–2030)
Packaging
Grocery Bags
Others
· End-Use Outlook (Revenue, USD Million; 2019–2030)
Food & Beverages
Healthcare
Household
Building & Construction
Agriculture
Electrical & Electronics
Others
Major Regions Covered in the Certified Circular Plastics Market Report:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Press Release https://www.emergenresearch.com/press-release/global-certified-circular-plastics-market
Key Highlights From the Report
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, s
uch 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.
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A SWOT analysis is performed on the leading companies engaged in the Certified Circular Plastics market to offer a better understanding of the strengths, opportunities, weaknesses, and threats of the leading companies. It also covers production and consumption rate, the volatility of prices and demands, market share, market size, global position, and market position of each player. The report also analyses key elements such as growth trends, concentration area, business expansion strategies, market reach, and other key features that offer companies insightful data to fortify their position in the Certified Circular Plastics industry.
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