The “Recycled Ocean Plastics Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Recycled Ocean Plastics Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global recycled ocean plastics market size was US$ 1.4 billion in 2021. The global recycled ocean plastics market is expected to grow to US$ 2.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2022 to 2030.
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COVID-19 Impact Analysis
The COVID-19 pandemic hampered the growth of the recycled ocean plastics market, as the pandemic has resulted in a downfall for various industries. Countries across the globe witnessed a drastic downturn, which, in turn, reduced the manufacturing processes. Industries witnessed supply chain disruptions due to export-import bans. Therefore, the COVID-19 pandemic has hampered the growth of the recycled ocean plastics market during the analysis period. Additionally, social distancing was one of the major reasons which halted the activities. However, the market is steadily recovering as the growth in the demand for online deliveries has increased the use of plastics.
Factors Influencing the Market
The global recycled ocean plastics market is expected to record a sharp rise in terms of revenue due to growing urbanization and industrialization. Additionally, the growing knowledge about the harmful effects of plastic due to its non-degradation properties will stimulate the growth of the recycled ocean plastics market. Further, growing pollution levels from plastic waste and rising initiatives by government bodies will also accelerate the growth of the recycled ocean plastics market during the analysis period. Various non-profit groups and organizations are taking crucial steps to get rid of the plastic waste present in the ocean. Additionally, rising tourism sector will also have a potential impact on the recycled ocean plastics market.
Regional Analysis
The Asia-Pacific recycled ocean plastics market garnered the highest market share in 2021 and is expected to grow at the fastest pace, owing to the growing investments by governments and non-profit organizations aimed at environment safety and protection. Additionally, the rising use of plastics and increasing awareness spread by the government and private bodies will contribute to the industry’s growth. The regional market will also expand as a result of the presence of a large number of rivers, which are the major source of ocean plastic waste. The South and Southeast Asian rivers are among the prominent drivers of ocean plastics. Therefore, all of the aforementioned factors will drive the growth of the recycled ocean plastics market in the region.
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Competitors in the Market
Ocean Plastic Technologies
The Ocean Cleanup
Ocean works
OCEANPLASTIK SRO
Textil Santanderina
Seaqual Initiative
Waterhaul
BIONIC
Bureo
Aquafil S.p.A.
Tide Ocean SA
PLASTIX
POPSICASE
Parley
Econyl
Indorama Ventures Public Ltd.
Veolia
Suez
Jayplas
Alpek
Biffa
Republic Services
Stericycle
Far Eastern New Century Corporation
KW Plastics
B. Schoenberg & Co.
B&B Plastics
Remondis SE & Co. KG
Clear Path Recycling
Custom Polymers
Plastipak Holdings
Waste Connections, Inc.
MBA Polymers
Other Prominent Players
Market Segmentation
The global recycled ocean plastics market segmentation focuses on Resin, Source, End-Use, and Region.
By Resin Type
Polyethylene Terephthalate (PET)
Polyethylene (PE)
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polystyrene (PS)
By Source
Plastic Bottles
Plastic Films
Synthetic Fibers
Rigid Plastics & Foams
Others
By End-Use
Consumer Products
Building and Construction
Packaging
Automotive
Healthcare
Textiles
Others
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the chemical market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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