The South & Central America recycled plastic market is expected to grow from US$ 2,529.34 million in 2021 to US$ 4,001.37 million by 2028; it is estimated to grow at a CAGR of 6.9% from 2021 to 2028.
Increasing packaging, automotive and electrical and electronics sector is a major driver of recycled plastics. The automotive sector is witnessing tremendous growth due to increasing passenger car sales and new vehicle production in emerging economies, which is driving the market growth. Automotive companies use recycled plastics in auto parts such as dashboards and gearboxes. The main reason for using recycled plastic in automotive is, that the components manufactured using recycled plastics are light weight and a lighter car consumes less fuel, which also translates into less exhaust emissions. In addition, plastic parts are not prone to corrosion and offer flexibility and safety compared to other plastic. Recycling another plastic for food packaging is difficult when compared to polyethylene terephthalate, which results in an inadequate supply of food-grade recycled plastics. The current situation of inadequate supply of food grade recycled plastic is encouraging investment in market, supporting the recycled plastic growth in packaging industry.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the recycled plastic market at a notable CAGR during the forecast period.
South & Central America Recycled Plastic Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Recycled Plastic Market Segmentation
The South & Central America recycled plastic market is segmented into type, source, application, and country. Based on type, the market is categorized into polyethylene terephthalate, polyethylene, polypropylene, polystyrene, and others. In terms of source, the South & Central America recycled plastic market is segmented into plastic bottles, plastic films, plastic foams, plastic fibers, and others. Based on application, the market is segmented into packaging, textile, automotive, building and construction, electrical and electronics, and others. In terms of country, the South & Central America recycled plastic market is segmented into Brazil, Argentina, and the Rest of South & Central America.
South & Central America Recycled Plastic Market – Companies Mentioned
Remondis SE & Co. Kg, Veolia, Alpek S.A.B. de C.V., and Plastipak Holdings Inc. are among the major companies operating in the South & Central America recycled plastic market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,529.34 Million |
| Market Size by 2028 | US$ 4,001.37 Million |
| CAGR (2021 - 2028) | 6.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
1. Remondis SE & Co. Kg
2. Veolia
3. Alpek S.A.B. de C.V.
4. Plastipak Holdings Inc.
The South and Central America Recycled Plastic Market is valued at US$ 2,529.34 Million in 2021, it is projected to reach US$ 4,001.37 Million by 2028.
As per our report South and Central America Recycled Plastic Market, the market size is valued at US$ 2,529.34 Million in 2021, projecting it to reach US$ 4,001.37 Million by 2028. This translates to a CAGR of approximately 6.9% during the forecast period.
The South and Central America Recycled Plastic Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South and Central America Recycled Plastic Market report:
The South and Central America Recycled Plastic Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Recycled Plastic Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Recycled Plastic Market value chain can benefit from the information contained in a comprehensive market report.
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