The Australia recycled plastic market involves the collection and processing of post-consumer plastic waste into reusable forms. Plastic materials such as polyethylene terephthalate (PET), high-density polyethylene (HDPE), polyvinyl chloride (PVC), low-density polyethylene (LDPE), and polypropylene (PP) are commonly recycled in the country. These recycled plastics find widespread application in the production of various consumer goods like clothes, carpets, packaging materials, and construction products. They help reduce plastic pollution and conserve natural resources. The recycled plastic industry creates economic and environmental benefits for Australia.
The Global Australia recycled plastic market is estimated to be valued at US$ 798.1 Mn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Australia recycled plastic market are Synergy Packaging, Amcor PLC, Vanden Global Ltd, Corex, Pact Group Holdings Australia Pty Ltd and Among Others. The Australian government has implemented policies like the National Waste Policy to increase plastic recycling rates to 80% by 2030, presenting opportunities for market players. Major companies are focusing on expanding their collection and sorting facilities across Australia to cater to the growing demand for recycled plastics. For example, Amcor plans to invest over AUD $100 million by 2025 to upgrade infrastructure and technologies. The availability of recycled plastic at competitive rates compared to virgin plastic feedstock is driving several manufacturers to consider recycled plastic over virgin plastic. This is expected to boost market growth going forward.
Market Drivers And Restrain:
- Rapid industrialization: Australia has witnessed significant industrial growth over the past decade, increasing plastic waste generation. This plastic waste, if recycled properly, can fuel market expansion.
- Government support: Favorable regulatory environment and initiatives to promote sustainable plastic recycling are driving market growth. However, collection and sorting infrastructure gaps remain a key challenge. Additional funding is required to scale-up nationwide plastic collection facilities.
Segment Analysis
The Australia recycled plastic market is segmented based on type, source, industry and material. Based on type, the polyethylene terephthalate segment dominates the market as it accounts for over 35% of the total recycled plastic market in Australia. PET plastic bottles are majorly recycled in the country and there is a huge demand for recycled PET in industries such as food packaging, beverages, and personal care. When segmented by source, the household waste segment generates around 60% of the recycled plastic materials in Australia. High awareness regarding plastic recycling and deposit return schemes enforced for bottles and cans have significantly improved the collection of plastic waste from households. By industry, the packaging industry utilizes over 50% of recycled plastic materials in Australia. Strong demand from food and beverage sector and rules regarding use of recycled content drive the usage of recycled plastic for packaging applications. Plastics such as PET, HDPE, and PP that can be reused multiple times without loss of quality are majorly recycled.
Global Analysis
The Australian recycled plastic market has witnessed strong growth owing to stringent government regulations banning plastic bags and promoting use of recycled plastic content in products. Regionally, New South Wales dominated the Australian recycled plastic market with over 30% share in 2024 due to availability of highly developed recycling facilities and waste collection infrastructure in major cities like Sydney and Melbourne. Queensland and Victoria are other major recycling hubs attributed to large industrial and urban bases. However, the Western Australia region is expected to grow at a highest CAGR during the forecast period led by rapid industrialization along with improving recycling systems. Key players are focusing on expanding collection and recycling capacities in Western Australia to gain opportunities. Europe dominates the global recycled plastic market but Asia Pacific region with Australia is emerging as an attractive market especially for recycled PET and HDPE materials export.
Get more insights on this topic: https://www.dailyprbulletin.com/recycled-plastics-market-in-australia-is-thriving-on-sustainability-trends/
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
What Are The Key Data Covered In This Australia Recycled Plastic Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Australia Recycled Plastic 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Australia Recycled Plastic and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Australia Recycled Plastic Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Australia Recycled Plastic vendors
FAQ’s
Q.1 What are the main factors influencing the Australia Recycled Plastic ?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Australia Recycled Plastic companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Australia Recycled Plastic ’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it