South and Central America Recycled Plastic Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Polyethylene Terephthalate, Polyethylene, Polypropylene, Polystyrene, and Others), Source (Plastic Bottles, Plastic Films, Plastic Foams, Plastic Fibers, and Others), and Application (Packaging, Textile, Automotive, Building and Construction, Electrical and Electronics, and Others)

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.

1. Remondis SE & Co. Kg
2. Veolia
3. Alpek S.A.B. de C.V.
4. Plastipak Holdings Inc.

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