Recycled Plastics Market expected to grow at a CAGR of 4.8% from 2022 to 2030
Recycled Plastics Industry Overview The global recycled plastic market size is anticipated to reach USD 69.2 billion by 2030, according to a new report by Grand View Research, Inc., growing at a CAGR of 4.8% over the forecast period. Increasing environmental concerns, rapid urbanization & industrialization, and the rising need to reduce the carbon footprint in the manufacturing of virgin plastic resin are expected to drive the demand for recycled plastics over the forecast period. The demand for recycled plastics is expected to increase mainly in the packaging application, which includes packaging of processed food & beverages, medical, electronics, and various other products, owing to the growing number of COVID-19 positive cases. Recycled Plastics Market Segmentation Grand View Research has segmented the global recycled plastics market based on product, source, application, and region. Based on the Product Insights , the market is segmented i...