PVC Recycling Market worth $4.9 Billion by 2028 - Exclusive Report by MarketsandMarketstm
CHICAGO, May 12, 2023 /PRNewswire/ -- The report "PVC Recycling Market by Source (Pre-consumer Waste, Post-consumer Waste), Type (Rigid, Flexible, Chlorinated), Process (Mechanical, Chemicals), Application, End-use Industry (Building, construction), and Region - Global Forecast to 2028", The PVC recycling market is projected to reach USD 4.9 Billion by 2028, at a CAGR of 8.0% from USD 3.3 Billion in 2023. The PVC recycling market is mainly driven by the demand for PVC recycling in various end-use industries, including building, construction, & infrastructure, electrical, automotive, consumer goods, and agriculture. Moreover, it is also driven by rapidly developing and emerging economies such as India, China, and Japan.
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Rigid PVC segment is projected to grow at fastest CAGR, in terms of volume, during the forecast period.
Rigid PVC is projected to be the fastest-growing segment in the global PVC recycling market, in terms of volume, during the forecast period. Rigid PVC has high demand in the PVC recycling market because it is well-suited for recycling as it can be easily melted down and reformed into new products without losing its structural integrity. It can be used in various applications such as window profiles, pipes, electrical conduit, and roofing materials. This segment of the PVC recycling market is expected to grow in the coming years due to increasing awareness of environmental issues and a push towards sustainability in the construction industry.
Window profiles & doors is projected to be the fastest growing application type in the PVC recycling market, in terms of value.
Recycling PVC window profiles and doors offers a promising solution for the PVC recycling market, providing sustainable alternatives to virgin PVC materials, and reducing the environmental impact of PVC waste. In addition, recycling PVC is well-suited due to its durability, low cost, and ease of production. The process of PVC recycling for window profiles & doors involves, shredding and processing PVC waste into granules that can be melted down and molded into new component.
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Asia Pacific is expected to be the fastest growing market for PVC recycling during the forecast period, in terms of value and volume.
The Asia Pacific markets are experiencing robust expansion, and this growth trajectory is expected to persist throughout the forecasted period. The PVC recycling industry is being propelled by significant industrial advancements underway in emerging economies like India, China, and Japan. Among these nations, China is anticipated to dominate the market in the region., accounting for more than 50% of the regional demand for PVC recycling, followed by Japan, India, and South Korea.
New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the PVC recycling market include DS Smith (UK), Adama Plastics (US), Reclaim Plastics (Canada), Suez (France), Veolia (France), Veka Recycling (UK), Simplas PVC Recycling (UK), WRC Recycling (Scotland), Morris Recycling (UK), and Dekura (Germany) are the key players in the PVC recycling market.
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