Post-consumer Recycled Plastics Industry - Regional Synopsis
On the basis of geographical analysis, the global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is predicted to account for largest revenue share by 2037, attributed to increasing public awareness regarding plastic waste reduction, along with rising construction activities, where recycled plastics are utilized.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of growing adoption of plastic recycling, backed by stringent government regulation for waste management. According to the data by the American Chemistry Council, in 2018, 35.7 million tons plastic was produced in the United States, while around 29% of the plastic was recycled.
