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Recycled Ocean Plastic Market To Witness Significantly High CAGR On The Back Of Increasing Focus of Organizations Towards Recycling Plastic Waste By 2028

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Recycled Ocean Plastic Market To Witness Significantly High CAGR On The Back Of Increasing Focus of Organizations Towards Recycling Plastic Waste By 2028

November 18
20:44 2020
According to the United Nations Environment Program (UNEP), 80% of the ocean pollutants are derived from land-based sources, while the remaining 20% percent comes from the marine sources.

Research Nester released a report titled “Recycled Ocean Plastic Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the global recycled ocean plastic market in terms of market segmentation by source, resin type, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.

According to the United Nations Environment Program (UNEP), 80% of the ocean pollutants are derived from land-based sources, while the remaining 20% percent comes from the marine sources.

On account of the increasing use of the plastics and the need to process plastic waste, the recycled ocean plastic market is projected to grow at a significant CAGR during the forecast period, i.e., 2020-2028. The recycled ocean plastic market is segmented by end-user into consumer products, building & construction, packaging, automotive, healthcare, textiles, and others. The packaging segment is projected to hold a significant market share in the global recycled ocean plastic market during the forecast period. This is mainly caused by the rapid industrialization observed globally. Also, there is an increasing use of plastics to protect various products from extreme weather conditions.

Based on the resin type, polyethylene terephthalate (PET) is anticipated to lead the global recycled ocean plastic market during the forecast period which is attributed to the intensive use of PET in the manufacturing of containers, luggage, shoes, automobile parts, and others.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the North America region is expected to hold the largest market share in the global recycled ocean plastic market owing to intensive use of plastics in various industries and the need to process the plastic waste coupled with the presence of leading companies converting waste materials into new usable products. CLICK TO DOWNLOAD SAMPLE REPORT

Using Plastic Waste As A Resource To Propel The Growth Of The Global Recycled Ocean Plastic Market

Owing to rapid industrialization along with urbanization, the use of plastic has increased greatly. The ill-effects of this is slowly being observed in the decline in the overall environmental health both on land and in water. As it can be really difficult to stop the production of plastic as our dependance on it is high, we can use the discarded plastic as a resource to produce other products. There are many companies that are working to reduce the appalling effects of plastic waste and thus driving the growth of the global recycled ocean plastic market. These companies are not only cleansing the world of plastic waste but also working to generate employment. This as a result is again propelling the growth of the global recycled ocean plastic market.

However, rise in the amount of ocean plastic wastes and the concern to regulate such wastes, followed by the expensive processing cost are some of the components expected to hamper the growth of the global recycled ocean plastic market during the forecast period.

This report also provides the existing competitive scenario and some of the key players who have helped in recycling the ocean plastic into innovative products. These include company profiling of Suez (EPA: SEV), Unifi, Inc. (NYSE: UFI), KW Plastics, Method Products, PBC, Veolia (EPA: VIE), B&B Plastics Inc., Oceanworks, Jayplas, and Plastipak Holdings, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global recycled ocean plastic market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future. CLICK TO DOWNLOAD SAMPLE REPORT

About Research Nester:

Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates, and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at the right time is available through strategic minds. 

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