by The Australia recycled plastic market has been gaining momentum over the past few years due to the increasing environmental concerns and favorable government policies promoting recycling practices. Recycled plastic is produced from post-consumer or post-industrial plastic waste through mechanical or chemical processes. It is used in applications across packaging, construction, automotive, and other industries. The packaging industry accounts for the largest share as recycled plastic helps reduce the consumption of virgin plastic. The growing e-commerce sector and on-the-go food and beverage consumption are further driving the demand for packaging.
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 Australia recycled plastic market provides numerous opportunities such as product innovation to cater to diverse end-use industries and development of advanced recycling technologies to process multi-layer plastics. Moreover, favorable government regulations regarding plastic waste management are encouraging investments and new recycling plant setups in the country.
Growing environmental awareness and global sustainability targets are driving several brands and retail chains to use recycled plastic in their products and operations. This is expected to boost the export of recycled plastic from Australia to other countries and regions globally over the coming years.
Market Drivers
The major driver for the Australia recycled plastic market is the stringent regulations banning single-use plastic items and mandating the use of post-consumer recycled content in packaging. The government aims to recycle 70% of plastic waste generated by 2030 to address plastic pollution issues. This is encouraging plastic producers and consumer goods companies to use recycled plastic instead of virgin plastic. Moreover, the ban on exporting plastic waste to other countries has improved the domestic recycling infrastructure and supply of recycled plastic locally.
PEST Analysis
Political: The Australian government has imposed regulations and standards on the use of plastic packaging and recycling. These regulations promote the use of recycled plastic over virgin plastic.
Economic: Australia has faced economic pressures from rising production costs and inflation. Using recycled plastic helps reduce costs for manufacturers compared to virgin plastic.
Social: Australians have become more environmentally conscious. There is rising social awareness about plastic waste and demand for sustainable products made from recycled plastic.
Technological: Companies are investing in advanced recycling technologies like chemical recycling to break down mixed plastic waste and extract recycled plastic at higher yields. Robotics and automation help improve the sorting and processing of post-consumer plastic waste.
Geographical Regions For High Market Value
The states of New South Wales and Victoria account for over 60% of the market value in the Australia recycled plastic market due to their large industrial bases and population clusters around Sydney and Melbourne. Both states generate significant amounts of plastic waste that can be collected, sorted and converted into recycled plastic resins and packaging products.
Fastest Growing Region
The state of Queensland has seen strong economic growth over the past decade with rising investments in sectors like construction, tourism and mining. This has led to increased plastic waste generation. At the same time, recycling infrastructure is being set up to handle rising volumes of plastic scrap. Queensland is expected to experience the fastest market growth at a CAGR of over 12% through improved waste management practices and expanding recycled plastic manufacturing industries.
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
About Author - Ravina Pandya
Ravina Pandya,a 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, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
