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The North America recycled plastics market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Plastic is a non-biodegradable, synthetic material which is most commonly sourced from petrochemicals. Plastic recycling is the process of recovering different types of plastic from waste products in order to reuse them for making useful products. Prior to recycling, the waste and scrap go through a series of five different stages, which include sorting, washing, shredding, identification and classification of plastic, and extruding.
North America recycled plastics market is currently being driven by several factors. The demand for recycled plastics has witnessed a surge on account of various initiatives undertaken by governments and organizations in different countries of the region. For instance, the Association of Plastic Recyclers (APR) along with the Recycling Partnership, has taken numerous steps to instruct vendors on using post-consumer resin (PCR). Apart from this, plastic recycling offers benefits to the manufacturers as it helps in reducing the costs of raw materials, which are higher for producing virgin plastic.
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Report Customization: Although IMARC has tried to cover everything in the North America recycled plastics market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20-man hours of free customization for each report.
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