Plastic Recycling's Role in Mitigating CO2 Emissions: U.S. Set for Impressive Market Growth
Thursday, November 2, 2023
DUBLIN, Oct. 25, 2023 /PRNewswire/ -- In light of recent revelations from the Department of Energy's Oak Ridge National Laboratory, the majority of consumer plastics earmarked for recycling are being diverted to landfills or incineration. An innovative breakthrough, as outlined in Materials Horizons, presents a new catalytic recycling process that addresses this challenge by efficiently deconstructing multiple polymers. The cutting-edge technique could lead to up to 95% fewer greenhouse gases, up to 94% less energy input, and up to a 96% reduction in fossil fuel consumption. As industries grapple with this shift and strive for sustainability, the latest research report, "United States Plastic Recycling Market Analysis: 2015-2030" has been added to ResearchAndMarkets.com's offering.- an indispensable tool for business entrepreneurs and managers.
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The U.S. plastic recycling market, which stood at a notable 28.91 Million Tonnes in 2020, is forecast to ascend to 44.40 Million Tonnes by 2030. This showcases a robust CAGR of 4.25% for the forthcoming decade. Plastic recycling is not merely a procedure to manage waste; it plays a pivotal role in mitigating CO2 emissions in the country. The increasing adoption of recycled plastics across a myriad of industries, from packaging to automotive to textiles, paints a promising picture of the market's potential. The growth is further underpinned by state governments' tax incentives, which are in place to encourage the use of recycled plastics.
Recent challenges, such as the COVID-19 pandemic, cast a temporary shadow on the plastic recycling market. The pandemic-driven demand in the food & beverage, healthcare, and pharmaceutical sectors saw a spike in plastic use. However, disruptions in waste collection due to lockdown measures caused a short-lived setback in the plastic recycling sector. But, with rising initiatives by municipal or regional authorities, paired with increased investment in plastic recycling infrastructure, the market is poised to recover and flourish.
The "U.S. Plastic Recycling Market Analysis" report serves as a comprehensive guide, offering a cloud-based platform with a one-year subscription, updated in near real-time. Here's what subscribers stand to gain:
-- Deep Dive Into Capacities: Understand installed capacities by companies
and locations across the country.
-- Company Insights: Gain insights into production levels and operating
efficiencies of various enterprises.
-- Demand Analysis: Unravel the demand for plastic recycling across
different end-user industries, sales channels, and regions in the U.S.
-- Trade Metrics: Decode exports and imports of Plastic Recycling by
different countries.
-- Gap Analysis: Discern the demand & supply gap at a country level.
-- Market Dynamics: Familiarise yourself with revenue shares of top players
and stay updated with current news & deals in the Plastic Recycling
market.
As the world wakes up to the importance of sustainable recycling practices, especially in the plastic domain, the report ensures that business leaders are equipped with data-driven insights. As new technologies, like the innovative catalyst from the Oak Ridge National Laboratory, emerge, entrepreneurs and managers will find the "U.S. Plastic Recycling Market Analysis" report an essential partner in navigating the evolving landscape.
For more information or to purchase the report, visit https://www.researchandmarkets.com/r/dru4ri
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