Recycling Plastic Ocean Debris Into Innovative Products

Research Nester released a report titled “Recycled Ocean Plastic Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the global recycled ocean plastic market in terms of market segmentation by source, resin type, end-user, and by region.

According to the United Nations Environment Program (UNEP), 80% of the ocean pollutants are derived from land-based sources, while the remaining 20% percent comes from the marine sources.

On account of the increasing use of the plastics and the need to process plastic waste, the recycled ocean plastic market is projected to grow at a significant CAGR during the forecast period, i.e., 2020-2028. The recycled ocean plastic market is segmented by end-user into consumer products, building & construction, packaging, automotive, healthcare, textiles, and others.

The packaging segment is projected to hold a significant market share in the global recycled ocean plastics market during the forecast period. This is mainly caused by the rapid industrialization observed globally. Also, there is an increasing use of plastics to protect various products from extreme weather conditions.

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Based on the resin type, polyethylene terephthalate (PET) is anticipated to lead the global recycled ocean plastic market during the forecast period which is attributed to the intensive use of PET in the manufacturing of containers, luggage, shoes, automobile parts, and others.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the North America region is expected to hold the largest market share in the global recycled ocean plastics market owing to intensive use of plastics in various industries and the need to process the plastic waste coupled with the presence of leading companies converting waste materials into new usable products.

Using Plastic Waste As A Resource To Propel The Growth Of The Global Recycled Ocean Plastic Market

Owing to rapid industrialization along with urbanization, the use of plastic has increased greatly. The ill-effects of this is slowly being observed in the decline in the overall environmental health both on land and in water. As it can be really difficult to stop the production of plastic as our dependence on it is high, we can use the discarded plastic as a resource to produce other products.

There are many companies that are working to reduce the appalling effects of plastic waste and thus driving the growth of the global recycled ocean plastics market. These companies are not only cleansing the world of plastic waste but also working to generate employment. This as a result is again propelling the growth of the global recycled ocean plastics market.

However, rise in the amount of ocean plastic wastes and the concern to regulate such wastes, followed by the expensive processing cost are some of the components expected to hamper the growth of the global recycled ocean plastic market during the forecast period.

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Perter Taylor

Perter Taylor graduated from Columbia. He grew up in the UK but moved to US after school. Perter has been a tech-savvy person. He is always interested in knowing new arrivals in the world of Technology. Perter is a tech author. Along with a tech-savvy writer, He is a food lover and solo traveler.
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