Recycled Plastics Market Grow at a CAGR of 8.7%,Size,Growth
Definition of Recycled Plastics
Recycled plastics refer to plastic materials that have been collected, processed, and transformed into new products after their initial use. This process involves several stages, including the collection of plastic waste, sorting, cleaning, and reprocessing it into raw materials. The recycling of plastics is a critical component of waste management and environmental sustainability, aimed at reducing plastic pollution and conserving natural resources. Recycled plastics can be utilized in various applications, including packaging, automotive parts, textiles, and construction materials.
According to Intent Market Research, the Recycled Plastics Market is expected to grow from USD 70.0 billion in 2023-e at a CAGR of 8.7% to touch USD 121.7 billion by 2030.
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