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The North America recycled plastics market reached a value of US$ 7,190 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 9,326 Million by 2027, exhibiting a CAGR of 4.35% during 2022-2027. 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.
IMARC Group provides an analysis of the key trends in each sub-segment of the North America recycled plastics market, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on plastic type, raw material and application.
|Base Year of the Analysis||2021|
|Segment Coverage||Plastic Type, Raw Material, Application, Country|
|Countries Covered||United States, Canada|
|Customization Scope||10% Free Customization|
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