Opportunity Worth USD 50 Bn Opening Up Plastics Recycling - Exclusive Research Published by MarketsandMarkets™

CHICAGO, Feb. 24, 2022 /PRNewswire/ -- Plastic Recycling Industry Disruptions – Potential opportunity worth USD 50+ Bn is expected to be created in plastic recycling, owing to the environmental sustainability, which is driving the circular economy. Plastic recycling is anticipated to play a key role for business sustainability, providing billion-dollar incremental revenue opportunity to stakeholders across the value chain.

According to MarketsandMarkets analysis,

• Chemical companies are taking initiatives across the value chain to improve quality of recycled plastics as well as addressing sorting challenge.
• Climate change remains our planet's single greatest challenge and is expected to play a significant role in terms of the transition to a circular economy.
• Governments are fast leaning towards environmental sustainability.
• Currently, mechanical recycling dominates the global recycling market.
• Consumer product companies have set ambitious targets for incorporating recycled plastic into their packages—25% of their total packaging by 2025.

Unknowns and Adjacencies

Currently, businesses have low access to primary intelligence to clarify some unknowns and adjacencies in these opportunity areas –

• Recycling rates are low in different economies. Currently it ranges between 20-30% globally, although it is higher in developed economies. With a strong need of low carbon economies, the materials use pattern would change significantly.
• Recycling and re-use-based economy to flourish and need of recycled materials to increases in future.
• Commercial variability of different materials to increase with technology and government playing a key role.

Some of the growth problems encountered by companies in recycling are:

Customer prioritization and assessing unmet needs:

• What are the disruptions in our clients' businesses? How can we support them for our own growth?
• Who are the most potential customers going forward? Which recycling to be prioritized?
• What are the key unmet needs? Who are the key stakeholders in different settings? Which new recycling technology offer the maximum benefits?

Where to play:

• Which end-use we should focus on? Should it be PET, PP. PE, or metals and batteries, or something else?
• Which regions should we place our bets on? Should we continue with developed countries or do developing countries offer more growth opportunities?

Building a compelling Right-to-Win (RTW):

• For M&A, which are the right targets for us? Should we enter new markets directly or through partners?
• How can we differentiate from top players? What is their right-to-win vs ours?

Key uncertainties/perspectives which industry leaders seek answers to:

For plastic recycling companies:

• What will be relevant and redundant in the next 5 years?
• Can every type of plastics recycling will be affordable, or will it continue being used for specific type of polymers?
• How can companies optimize the recycle processes to be more agile and efficient to achieve a more seamless workflow?
• What regulatory policies can help strategize and achieve scale-up?
• What can be done to train more people in handling and recycling of plastics?

For Companies in Adjacent markets:

• What are the regulations on carbon emission limits?
• How the Lithium-Ion battery recycling is driving this market.
• What will be the impact of automation on plastics recycling/circular economy?
• Which are best practices waste management to avoid plastics going to landfills?

Therefore, MarketsandMarkets research and analysis focuses on high growth and niche markets, which will become ~80% of the revenues of companies in the plastic recycling ecosystem over the next 5-10 years.

Download PDF Now to get more insights into Plastic Recycling Industry Disruptions.

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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SOURCE MarketsandMarkets

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