The latest research study “India Waste Plastic Recycling Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the India waste plastic recycling market reached a volume of 7.78 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 16.58 Million Tons by 2027, exhibiting a CAGR of 11.80% during 2022-2027.
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Waste plastic recycling involves collecting and reprocessing scrap or waste plastic into new useful products. Some commonly recycled plastic materials include polyethylene terephthalate, high-density polyethylene, low-density polyethylene, polypropylene, and polyvinyl chloride. These are lightweight, durable, and versatile and exhibit high-tensile strength, energy efficiency, and corrosion-resistant properties. They also help minimize the dependence on virgin polymers to manufacture new plastic products while reducing the harmful environmental impact of plastic waste. In India, waste plastic recycling has recently gained immense traction since recycled plastics find extensive applications across textile, packaging, construction, and automotive industries.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
India Waste Plastic Recycling Market Trends and Drivers:
The India waste plastic recycling market is primarily driven by the increasing consumer awareness about the negative impacts of plastic waste on the environment and human health. Moreover, the rising plastic wastage from various end use sectors, such as automotive, construction, food, and non-food contact packaging, has augmented the product demand.
Additionally, the Government of India (GOI) is implementing stringent regulations and recycling initiatives to reduce plastic waste production. Besides this, extensive investments in advanced waste treatment facilities and the introduction of sustainable plastic disposal solutions are also contributing to market growth. Furthermore, the shifting preferences from traditional virgin plastics toward recycled alternatives to minimize carbon footprint, especially in the packaging industry, has accelerated the product adoption rate.
Other factors, including the increasing focus on improving the quality and performance of recycled plastics, ongoing research and development (R&D) activities, and rising adoption of advanced technologies for effective plastic waste management, are also anticipated to propel the market growth.
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|India Waste Plastic Recycling Market Report Scope|
|Market size value in 2021||7.78 Million Tons|
|Market forecast in 2027||16.58 Million Tons|
|Growth Rate||CAGR of 11.80% from 2022 to 2027|
|Base year for estimation||2021|
India Waste Plastic Recycling Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
India Waste Plastic Recycling Companies:
A1 Impex, Addonn Polycomponds Private Limited, GD Plast, Gravita India Limited, Jairam Plastic Industries, Key Exports, Luckystar International Pvt. Ltd., Manjushree Technopack Limited (AI Lenarco Midco Limited), Parkash Plastic, Polyraw Enterprises, R.B. Polymers, and Yadav Infrapolymers Private Limited.
The report has segmented the market on the basis of region, treatment, material, application and recycling process.
Breakup by Treatment:
- Heat Compression
Breakup by Material:
- Poly Vinyl Chloride (PVC)
- Low-Density Polyethylene (LDPE)
- High-Density Polyethylene (HDPE)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Acrylonitrile Butadiene Styrene (ABS)
Market Breakup by Application:
Breakup by Recycling Process:
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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