Market Analysis On Australia Recycled Plastics Market Trends| In Terms Of Value, Segment Market Share: Forecast 2023-2030

(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Australia Recycled Plastics Market was valued at US$ 1.6 million in 2022 and is expected to grow at a significant CAGR of over 11.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat

Market Definition, Market Scope, and Report Overview

Recycled plastics are plastics that have been collected, processed, and reprocessed so that they can be reused in new products rather than being discarded as garbage.

Growing consumer and business demand for sustainable and eco-friendly products has resulted from increased awareness of environmental challenges, particularly plastic pollution and its impact on ecosystems and marine life. This has increased interest in recycled plastics as an environmentally friendly substitute for virgin plastics.

• According to a deep-dive market assessment by RationalStat, the Australia recycled plastics market has been analyzed on the basis of market segments, including source, plastic type, process, end user and geography/regions (including Western Australia, Southern Australia, Eastern Australia, Northern and Central Australia) . The report also offers Australia and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
• Market intelligence for the Australia recycled plastics market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by variproducts/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
• In addition, the long-term sector and products/services 10-year outlook and its implications on the Australia recycled plastics market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Australia Recycled Plastics Market: Segmental and Market Share Analysis

• On the basis of source, the bottles segment led the market, accounting for more than 74% of total market revenue. Plastic bottles are the most common source of recycled items.
• On the basis of plastic type, PET is the largest recycled plastics sector segment, and it can be used in a variety of items such as new containers, carpet, textiles, and protective packaging.
• On the basis of end user, in 2022, the packaging application category led the market, accounting for more than 37% of total revenue. This large percentage is due to increased demand for fast food and beverages.

Report Synopsis

Report Metrics	Details
Base Year	2022
Forecast Period	2023-2030
Base Year Market Size	US$ 1.6 million
Market Size Forecast	US$ 3.9 million
Growth Rate	11.8%
Key Market Drivers	Rising environmental awareness Organizations setting CSR goals Change in consumer preference towards recycled products Expanding recycled packaging industry
Companies Profiled	Visy Group Cleanaway Re.Group Repeat Plastics Australia Pty Ltd. PLASTIC FORESTS PTY LTD Advanced Circular Polymers Integrated Recycling Closed Loop MBA Polymers Inc. Recycle Care Australia

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Competition Analysis and Market Structure

These players adopt varistrategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Australia recycled plastics market include,

• In April 2023, Indorama Ventures and Evertis, a pioneer in sustainable PET barrier films, established a collaboration to develop PET film appropriate for food packaging trays using flake from recycled PET trays. The collaboration supports Evertis' 2025 goal of using 50% post-consumer recycled materials in their products.
• In February 2023, Loop Industries, SUEZ, and SK geocentric have confirmed that the great Est region of France will be the manufacturing site for producing virgin-quality PET plastic from 100% recycled content.

Some of the prominent players and suppliers operating and contributing significantly to the Australia recycled plastics market growth include Visy Group, Cleanaway, Re.Group, Repeat Plastics Australia Pty Ltd., PLASTIC FORESTS PTY LTD, Advanced Circular Polymers, Integrated Recycling, Closed Loop, MBA Polymers Inc., and Recycle Care Australia, among others.

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RationalStat has segmented the Australia recycled plastics market based on source, plastic type, process, end user and region

• Australia Recycled Plastics Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Source
  • Bottles
  • Fibers
  • Films
  • Foams
  • Others
• Australia Recycled Plastics Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Plastic Type
  • PET
  • PE
  • PP
  • PVC
  • PS
  • Others
• Australia Recycled Plastics Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Process
  • Mechanical
  • Chemical
• Australia Recycled Plastics Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by End User
  • Packaging
  • Construction
  • Textiles
  • Automotive
  • Electricals and Electronics
  • Others
• Australia Recycled Plastics Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
  • Australia Recycled Plastics Market
    • Western Australia
    • Southern Australia
    • Eastern Australia
    • Northern and Central Australia

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Key Questions Answered in the Recycled Plastics Report:

• What will be the market value of the Australia recycled plastics market by 2030?
• What is the market size of the Australia recycled plastics market?
• What are the market drivers of the Australia recycled plastics market?
• What are the key trends in the Australia recycled plastics market?
• Which is the leading region in the Australia recycled plastics market?
• What are the major companies operating in the Australia recycled plastics market?
• What are the market shares by key segments in the Australia recycled plastics market?

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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About RationalStat LLC

RationalStat is an end-to-end Australia market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and theto support Australia and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

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