India Plastic Recycling Market By Industry Size, And Share, Manufacturers, Demand, Forecast 2027 - TechSci Research

India plastic recycling market is anticipated to grow with an estimated CAGR in the forecast years FY2023-FY2027, on the grounds of increasing production of plastic and growing demands for the same. Increasing usage of lightweight plastic components and rising awareness about the environment depletion due to negative effects of careless plastic disposals further drives the growth of the India plastic recycling market in the upcoming five years. Increasing government investments in the recycling processes and machinery along with advancing research for efficient utilization of the plastic to reduce the growing wastage is also aiding the growth of the India plastic recycling market in the next five years.

Repurposing & reprocessing the plastic to manufacture new products & other useful purposes thus reducing the growing waste creation is termed as plastic recycling. The procedure is growing rapidly to reduce dependence on landfill, conserve resources and protect the environment from plastic pollution and greenhouse gas emissions. Plastic types such as polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), etc. are actively recycled. Sometimes the plastic has multilayer of different types of plastic that can be a difficult and costly procedure since separation and cleaning the resins is a difficult process thus recycling of such plastics become difficult although awareness and investments in the procedures allow plastic recycling on large scale.


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Overflooding Landfills Demand Plastic Recycling

Increasing burden over landfills in India for the waste accumulation and digestion of wastes drives the demand for the plastic recycling thereby driving the growth of the India plastic recycling market in the upcoming five years. In FY2019, there were total of 1684 landfills all over the country. Out of which Madhya Pradesh state had the largest number of landfills amounting to 378 landfills in year FY2019.

Increasing waste production in the country from residential sector, industrial wastes, and commercial sector is highly responsible for the degrading environment in the country. Total plastic waste generation in the year FY2020, was recorded as 34,69,780 tonnes. Furthermore, recent pandemic situation worsened the conditions of plastic waste generation in the country. With increased usage of single use products, and disposables being manufactured with plastic upsurged the plastic generation in last two years.

Environmental Concerns Promise Market Growth

Plastic wastes and increasing accumulation of it pose great threat over environment. Plastic component don’t possess the activity of bio-degradation and remain undigested for years. Waste disposals in the water bodies carry plastic deep into the sea and oceans where these plastic is either engulfed by the larger sea animals or it traps smaller marine animals. Thus, killing them since the digestion of the plastic products is not possible even in the water bodies.

A total of 100,887 outlets of rivers and streams worldwide spread over 31,904 locations, freely emit plastic waste into the ocean. India alone dumps over 126,500 tons of plastics into the ocean every year, and this dumping quantity is increasing in subsequent years. In Delhi, the Yamuna river stretches 2% of its total length but accounts for over 80% of the total pollution in the river.

Government Initiatives Aid Market Growth

Government of India is working vigorously to decrease the pollution caused by plastic wastes. Delhi Pollution Control Committee (DPCC) formulates a wastewater management standards if met would help in cleaning the polluted water in Delhi, thus supporting environmental initiatives like Yamuna Bachao Andolan. Furthermore, government initiatives like Swachh Bharat Mission and prohibiting the single use plastic items by 2022 under the authority of Plastic Waste Management Amendment Rules, 2021 further aids the growth of the India plastic recycling market in the future five years.


Market Segmentation

The India plastic recycling market segmentation is based on type, source, method, end user, regional distribution, top 3 state analysis, and competitional landscape. Based on type, the market is bifurcated into polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS) and others. By source, the market is further segmented into bottles, films, fibers, foams and others. Method based market segment includes thermal, chemical, mechanical, and landfill. Based on end user, the market is fragmented into packaging, building & construction, textile, automotive, electrical & electronics and others. The India plastic recycling market analysis also studies the regional segmentation divided among North India region, South India region, East India region, and West India region. Each region is also analyzed based on the top 3 states that hold major revenue shares of the market.

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Company Profile

BASF India Limited, Veolia India Private Limited, SEUZ India, The Shakti Plastic Industries, Banyan Nation, Gravita India Limited, GEM Enviro Management Pvt Ltd., B R Plastic Industries Private Limited, Green India Polymers, Green Roots Solutions, Halifax Greentech LLP, Jagriti Polymers, Jay-Kay Plastics, Knack Packaging Pvt. Ltd., Luckystar Group, Macpac Plastics & Packaging LLP, Mittal Polygrains LLP, Sharma Plastic, Parkash Plastic, Shakti Corporation Pvt. Ltd., are some of the major market players in the country that lead the market growth analysis.

Attribute

Details

Base Year

FY2021

Historic Data

FY2017 – FY2020

Estimated Year

FY2022

Forecast Period

FY2023 – FY2027

Quantitative Units

Revenue in USD Million, Volume in units, and CAGR for FY2017 – FY2020 and FY2023 – FY2027

Report coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

        Type

        Source

        Method

      End User  

Regional scope

North; South; East; West;

Key companies profiled

BASF India Limited, Veolia India Private Limited, SEUZ India, The Shakti Plastic Industries, Banyan Nation, Gravita India Limited, GEM Enviro Management Pvt Ltd., B R Plastic Industries Private Limited, Green India Polymers, Green Roots Solutions, Halifax Greentech LLP, Jagriti Polymers, Jay-Kay Plastics, Knack Packaging Pvt. Ltd., Luckystar Group, Macpac Plastics & Packaging LLP, Mittal Polygrains LLP, Sharma Plastic, Parkash Plastic, Shakti Corporation Pvt. Ltd.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

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Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, India plastic recycling market is segmented into following categories, in addition to the industry trends which have also been detailed below:

·         India Plastic Recycling Market, By Type:

    • Polyethylene Terephthalate (PET)
    • Polyethylene (PE)
    • Polypropylene (PP)
    • Polyvinyl Chloride (PVC)
    • Polystyrene (PS)
    • Others
  • India Plastic Recycling Market, By Source:

o   Bottles

o   Films

o   Fibers

o   Foams

o   Others

  • India Plastic Recycling Market, By Method:
    • Thermal
    • Chemical
    • Mechanical
    • Landfill
  • India Plastic Recycling Market, By End User:
    • Packaging
    • Building & Construction
    • Textile
    • Automotive
    • Electrical & Electronics
    • Others
  • India Plastic Recycling Market, By Region:
    • South
      • Top 3 States
    • West
      • Top 3 States
    • North
      • Top 3 States
    • East
      • Top 3 States

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India plastic recycling market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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