India Waste Plastic Recycling Market Report
The growing awareness among people about the harmful effects of plastic on the environment is catalyzing the demand for waste plastic recycling in the country.
SHERIDAN, WYOMING, USA, June 27, 2023/EINPresswire.com/ — How Big is the India Waste Plastic Recycling Market?
The India waste plastic recycling market size reached 8.9 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 18.5 Million Tons by 2028, exhibiting a growth rate (CAGR) of 11.3% during 2023-2028.
What is Waste Plastic Recycling?
Waste plastic recycling refers to the process of converting plastic wastes and various used plastic items into other usable products. It comprises a detailed procedure wherein plastic products are sorted, washed, shredded, and compounded to make various new products. It is often carried out on a various grade of plastics, such as low-density and high-density polyethylene, polyvinyl chloride (PVC), and polyethylene terephthalate (PET). It helps to reduce the piling of wastes in landfills and incineration plants. It also lowers the negative impacts of extraction and processing of virgin materials on the environment. Furthermore, as it minimizes water pollution and destruction of marine life, the demand for waste plastic recycling is increasing in India.
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What are the growth prospects and trends in the India waste plastic recycling industry?
At present, the increasing demand for waste plastic recycling due to the rising consumer awareness represents one of the primary factors influencing the market positively in India.
Besides this, the Government of India is banning the availability of single use plastics in various states and taking initiatives to reduce plastic usage by setting annual recycling targets for producers, importers, and brand-owners.
In addition, the growing waste plastic recycling activities to manufacture food-safe packaging material for the food and beverage (F&B) industry is offering a favorable market outlook in the country. Apart from this, the increasing integration of artificial intelligence (AI) to automate the process of waste plastic recycling is bolstering the growth of the market in India.
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What is included in market segmentation?
The report has segmented the market into the following categories:
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)
Breakup by Application:
Breakup by Recycling Process:
Breakup by Region:
• North India
• West and Central India
• South India
• East India
Who are the key players operating in the industry?
The report covers the major market players including:
Addonn Polycomponds Private Limited
Gravita India Limited
Jairam Plastic Industries
Luckystar International Pvt. Ltd.
Manjushree Technopack Limited (AI Lenarco Midco Limited)
Yadav Infrapolymers Private Limited
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Article originally published on www.einpresswire.com as India Waste Plastic Recycling Market Report, Analysis & Forecast 2023-2028
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