DUBLIN--(BUSINESS WIRE)--The "India Plastic Recycling Market, By Type, (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene and Others), By Source, By Method, By End User, By Region, Competition Forecast & Opportunities, FY2027" report has been added to ResearchAndMarkets.com's offering.
India plastic recycling market is projected to grow at a significant CAGR during the forecast period, 2023-2027.
The market growth can be attributed to the increasing production of plastic and rising demands for the same across various end user industries. Besides, increasing government investments in the recycling process and machinery coupled with the growing application of lightweight plastic components are some of the factors propelling the growth of the India plastic recycling market.
Plastic trash and its growing accumulation on landfills and ocean pose a serious environmental danger. Plastic components lack the ability to biodegrade and survive for many years. Plastic waste is dumped into bodies of water, where it is carried deep into the oceans and seas, where it is either swallowed by larger marine life or traps smaller marine life.
Advances in research for efficient utilization of plastic and growing environmental awareness about plastic waste are also fueling the growth of the India plastic recycling market during the forecast period.
Plastic recycling is the process of reusing and reprocessing plastic to create new products and other valuable items while minimizing the amount of waste being produced. The practice is expanding quickly to reduce reliance on landfills, conserve resources, and safeguard the environment from plastic waste and greenhouse gas emissions. Active recycling is done with plastics like polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), etc.
In India, the weight of garbage build-up on landfills is growing, fueling the demand for plastic recycling and expanding the country's plastic recycling market over the next five years. The country's rising waste generation from the household, industrial, and commercial sectors is mostly to blame for the country's declining ecology.
The total amount of plastic garbage produced in FY2020 was 3,469,780 tons.
Additionally, the country's conditions for producing plastic garbage were made worse by the recent pandemic emergency. With increased single-use product consumption and disposables made of plastic, the generation of plastic has increased during the past two years, which has generated a greater need for plastic recycling. Investments by market players to introduce new and improve plastic recycling technologies for reducing carbon footprint are also adding to the market growth.
The Indian government is making a lot of effort to reduce pollution brought upon by plastic garbage. The wastewater management criteria support the Yamuna Bachao Andolan and other environmental measures developed by the Delhi Pollution Control Committee (DPCC). If these requirements are met, the filthy water in Delhi will be cleaned.
Further supporting the expansion of the India plastic recycling market over the next five years are government programs like the Swachh Bharat Mission and the prohibition of single-use plastic items by 2022 under the authority of the Plastic Waste Management Amendment Rules, 2021.
Polyethylene terephthalate (PET) is expected to hold the highest share in the India plastic recycling market, owing to the easy and cost-efficient recycling process and growing PET use in most plastic products.
Objective of the Study:
- To analyze the historical growth in the market size of the India plastic recycling market from FY2017-FY2021.
- To estimate and forecast the market size of India plastic recycling market from FY2023 to FY2027 and growth rate until FY2027.
- To classify and forecast the India plastic recycling market based on type, source, method, end user, region and company.
- To identify the dominant region or segment in the India plastic recycling market.
- To identify drivers and challenges for the India plastic recycling market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the India plastic recycling market.
- To identify and analyze the profiles of leading players operating in the India plastic recycling market.
- To identify key sustainable strategies adopted by market players in India plastic recycling market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India plastic recycling market.
- BASF India Limited
- Veolia India Private Limited
- SEUZ India
- The Shakti Plastic Industries
- Banyan Nation
- Gravita India Limited
- GEM Enviro Management Pvt Ltd
- B R Plastic Industries Private Limited
- Green India Polymers
- Green Roots Solutions
- Halifax Greentech LLP
- Jagriti Polymers
- Jay-Kay Plastics
- Knack Packaging Pvt. Ltd.
- Luckystar Group
- Macpac Plastics & Packaging LLP.
- Mittal Polygrains LLP
- Sharma Plastic
- Parkash Plastic
- Shakti Corporation Pvt. Ltd.
Report Scope:
Years considered for this report:
- Historical Years: FY2017-FY2020
- Base Year: FY2021
- Estimated Year: FY2022
- Forecast Period: FY2023-FY2027
India Plastic Recycling Market, By Type:
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Others
India Plastic Recycling Market, By Source:
- Bottles
- Films
- Fibers
- Foams
- Others
India Plastic Recycling Market, By Method:
- Thermal
- Chemical
- Mechanical
- Landfill
India Plastic Recycling Market, By End User:
- Packaging
- Building & Construction
- Textile
- Automotive
- Electrical & Electronics
- Others
India Plastic Recycling Market, By Region:
- South - Top 3 States
- West - Top 3 States
- North - Top 3 States
- East - Top 3 States
For more information about this report visit https://www.researchandmarkets.com/r/kqp6a7
