Global Plastic Recycling Market : Due to the continuous increase in global warming caused by human-caused emissions, it is evident that burning oil and fossil fuels increases climate change, poses a major threat to the environment, and to living things.
Plastics contribute greatly to dispersing greenhouse gases into the atmosphere thereby changing the ozone layer, which results in overheating, loss of cloud forests, melting glaciers, and rising sea levels. So, what steps can be taken to reduce plastic pollution?
For years, the planet’s global temperature remained intact until new technologies came along, resulting in major changes in the environment. It is time for plastic recycling on a large scale to be considered. Since plastic is not biodegradable, it provides many business opportunities as it is cost effective and environmentally friendly.
The global plastic recycling market is expected to witness healthy growth at a CAGR of 5.04% over the forecast years due to the increasing demand for recycled plastics. Recovering plastics from scrap and waste and then turning them into useful products has been a key driver for many commercial industries because it is environmentally and economically effective.
Recycled plastic can be turned into a wide variety of products such as tote bags, watering cans, wheel arch linings, car bumpers, moisture-proof membranes, construction materials, reusable crates, trash cans, composite pits, food trays, water bottles and various fabrics. . clothing that provides a large scope for the plastics industry to make a lot of money.
The global plastic recycling market is driven by an increasing trend towards recycled plastic over pure plastic due to the pollution caused by plastic when it is dumped into oceans or other bodies of water. In addition, energy savings during the production of recycled plastics have a positive impact on market growth.
Furthermore, ongoing research activities to … Read more