Post Consumer Resin (PCR) Market Size, Share, Growth, and Industry Analysis, By Type (PET, PP, HDPE, LDPE, Others), By Application (Packaging and Consumer Goods, Construction, Textile Fiber or Clothing, Landscaping or Street Furniture, Other Uses) Regional Forecast To 2032

Updated On: 29 April 2024

Post Consumer Resin (PCR) Market REPORT OVERVIEW

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global Post Consumer Resin (PCR) market size was USD 31500 million in 2022 and market is projected to touch 54847.8 Million By 2032, exhibiting a CAGR of 5.7% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, post consumer resin (PCR) experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

In order to meet consumer demand, promote recycling initiatives, and lessen their influence on landfills, several manufacturers are turning to post-consumer resin (PCR), a type of environmentally friendly packaging. Through community recycling programs, PCR plastics, which are made from recycled PET bottles and other plastics, are turned into different packaging materials.

Due to the growing use of post consumer resin (PCR) throughout the manufacture of consumer electronics, the post consumer resin (PCR) market growth is expected to expand. Numerous nations are taking action to reduce the fast rising volume of e-waste, which is a serious worldwide issue. In order to meet their sustainability goals, many businesses have accepted the usage of post-consumer plastics that have been recycled in the production of their electrical products. Additionally, a growing variety of preservation of the environment awareness campaigns are being run, keeping both customers and the producers of electronic devices informed about the explosive growth of e-waste.

COVID-19 Impact: Incrementing Sales of Quick-to-Eat Meals to Advance Market Share 

Due to the extraordinary COVID-19 outbreak, the supply chain was disrupted, which had an impact on production across many industries. The post consumer resin (PCR) market share constantly expanded due to the rising sales of quick-to-eat meals, drinks, and medicines. Major companies integrated their operations for producing raw materials and distributing them, maintaining the quality of their products and growing their regional reach. They gained a competitive advantage from this tactical maneuver by reducing expenses and increasing profit margins. These businesses aggressively engaged in study and development in order to stay on the cutting edge, developing cutting-edge products that satisfied changing consumer and market demands.

LATEST TRENDS

"Measures for Lowering Carbon Footprints to Stimulate Market Development "

The market for post consumer resin (PCR) has increased recently due to a growing focus on sustainability and proactive measures for lowering carbon footprint taken by different consumer electronics makers. Manufacturers of laptops including Lenovo use post consumer resin (PCR) to create notebooks, desktop computers, workstations, displays, and other peripherals. Over the projected period, it's anticipated that post-consumer reused plastic resin adoption will continue to rise. A significant difficulty for mobile phone manufacturers worldwide is the rise in environmental, climate, and biodiversity-related worries about plastic waste. The mobile phone market is also being driven by an increased competitive environment brought on by consumers' high purchasing power across major nations and increasing disposable incomes among middle-income groups. Global television sales have increased due to factors including technical development and greater disposable income.

Post Consumer Resin (PCR) Market SEGMENTATION

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• By Type

Based on type; the market is divided into PET, PP, HDPE, LDPE, others

PET is the leading part of the type segment.

• By Application

Based on the application; the market is divided into packaging and consumer goods, construction, textile fiber or clothing, landscaping or street furniture, other uses

Packaging is the leading part of the application segment.

DRIVING FACTORS

"Non-Bottle Solid Source Category to Aid Market Expansion  "

In 2022, the non-bottle solid source category dominated the market and contributed a substantial revenue. Recent years have seen a substantial increase in the recovery and manufacture of non-bottle rigid plastics, which has led to an increase in exporters' purchases of commodities that are challenging to recycle, including mixed resin rigid bales.

High-density polyethylene (HDPE) and polyethylene terephthalate (PET) are the two main resins used in the recycling of plastic bottles. Due to its low weight and great durability, HDPE is utilized to make the cases for mobile phones and laptops. Additionally, the need for bottles of plastic as an initial source for post-consumer plastics that are recycled has been positively impacted by the increased demand for electronics, especially mobile phones and laptops.

"Demand for Wearables to Foster Industry Progress "

It is projected that the rising demand for wearables would have a favorable impact on the nation's need for post-consumer recycled plastics. The popularity of gadgets that are worn, such as health monitors and fitness trackers, which provide real-time information about general health, is a result of the increased prevalence of being overweight and other chronic disorders.

In order to assess general health, wearable electronics provide data on oxygen saturation, blood pressure, sleep duration and quality, calorie intake, levels of cholesterol, heartbeat tracking, and other factors. Additionally, rising demand for LCD panels, portable carried devices, cell phone bodies, and various other applications, as well as for appliances and white goods, is anticipated to support demand for goods over the projection period.

RESTRAINING FACTOR

"Shift Towards Non-Plastic Solutions to Stop Market Evolution "

Post consumer resin (PCR) market will be further hampered by rising price fluctuations in raw materials as a result of increasing poor infrastructure facilities for recycling, growing ignorance about the significance of sustainability in some emerging economies, and rising packaging shift toward non-plastic solutions.

Post Consumer Resin (PCR) Market REGIONAL INSIGHTS

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"Rising Landfill Related Concerns in Asia Pacific to Support Market Advancement "

In 2022, Asia Pacific controlled the post consumer resin (PCR) market and contributed a substantial revenue. The market in the region is expanding as a result of an increasing need for post-consumer reused plastics in a variety of consumer electronics applications, including TV structures, laptop monitor enclosing LCD panels, portable handheld devices, devices that are worn, mobile phone body parts, appliance and white goods, and others. Over the projection period, it is expected that factors such rising landfill-related concerns, a smaller carbon footprint, regulations, and customer preferences for sustainable products would increase the need for post-consumer plastics that have been recycled within consumer electronics applications.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Far Eastern New Century (Taiwan)
• Longfu Recycling Energy Scientech (China)
• MBA Polymers (U.S.)
• DAK Americas (U.S.)
• Plastipak Holdings (U.S.)
• Visy (Australia)
• Envision (China)
• Evergreen Plastics (U.S.)
• Greentech (India)
• KW Plastics (U.S.)
• Indorama Ventures (Custom Polymers PET) (Thailand)
• Viridor (England)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.