North America Recycled Ocean Plastics Market Size To Worth USD 765.3 Million By 2033 | CAGR of 7.3%
Category: Advanced MaterialsNorth America Recycled Ocean Plastics Market Size To Worth USD 765.3 Million By 2033
According to a research report published by Spherical Insights & Consulting, the North America Recycled Ocean Plastics Market Size is to Grow from USD 378.0 Million in 2023 to USD 765.3 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 7.3% during projected period.
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Browse key industry insights spread across 160 pages with 100 Market data tables and figures & charts from the report on the "North America Recycled Ocean Plastics Market Size, Share, and COVID-19 Impact Analysis, By Source (Plastic Bottle, Plastics Bags, Fishing Line, Straws & Stirrers, Plastic Beverage Holder, and Others), By Application (Apparel, Footwear, Interiors, and Bags & Luggage), and North America Recycled Ocean Plastics Market Insights, Industry Trend, Forecasts to 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/north-america-recycled-ocean-plastics-market
The recycling of ocean plastic is the industry that gathers, breaks down, and transforms plastic debris found in rivers, oceans, and other aquatic habitats into new, useful goods. This recycling method lessens the negative effects of plastic pollution on the environment by turning garbage into useful materials that are utilized in several sectors, such as consumer goods, packaging, textiles, and the automotive industry. Companies and governments are spending money on cutting-edge recycling methods and technology to lessen the negative effects of plastic waste on the environment and advance the circular economy. The global market for recycled ocean plastic is expanding due to a combination of corporate accountability, favorable government legislation, and growing environmental consciousness. A cleaner, healthier earth is anticipated as a result of increased innovation and expansion in sustainable practices brought about by this trend. However, high collection and processing expenses are impeding the growth of the recycled ocean plastic sector.
The plastic bottle segment is anticipated to hold the largest market share of the North America recycled ocean plastics market during the projected timeframe.
Based on the source, the North America recycled ocean plastics market is divided into plastic bottle, plastics bags, fishing line, straws & stirrers, plastic beverage holder, and others. Among these, the plastic bottle segment is anticipated to hold the largest market share of the North America recycled ocean plastics market during the projected timeframe. Plastic bottles are the most prevalent source of recycled ocean plastics because they are used in many different industries to package a wide range of products, including fruit drinks, water, carbonated beverages, pharmaceuticals, agrochemicals, strong medicines, and homecare and personal care items.
The apparel segment is anticipated to dominate the North America recycled ocean plastics market during the projected timeframe.
Based on the application, the North America recycled ocean plastics market is classified into apparel, footwear, interiors, and bags & luggage. Among these, the apparel segment is anticipated to dominate the North America recycled ocean plastics market during the projected timeframe. Textile manufacturing makes extensive use of recycled PET resins. Eco-friendly fabrics made from recycled PET bottles are then combined with natural fibers and knitted or woven into garments that are entirely made of eco-friendly materials.
Major vendors in the North America recycled ocean plastics market include Ocean Plastic Technologies, The Ocean Cleanup, Oceanworks, OCEANPLASTIK SRO, Textil Santanderina, Seaqual Initiative, Waterhaul, BIONIC, Bureo, Aquafil, Tide Ocean, PLASTIX, POPSICASE, Parley, Econyl, and Others.
Recent Developments
- In December 2023, LyondellBasell Industries Holdings B.V. revealed a ground-breaking partnership to transform marine debris that has reached the end of its useful life into creative recycled plastic products. A recycling company that specializes in mechanically recycling plastic trash is partnering with a well-known German manufacturer.
- In May 2022, the new substance LNP ELCRIN WF0061BiQ resin, which uses ocean-bound PET bottles as a feed stream, was introduced by SABIC.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at North America, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the North America recycled ocean plastics market based on the below-mentioned segments:
North America Recycled Ocean Plastics Market, By Source
- Plastic Bottle
- Plastics Bags
- Fishing Line
- Straws & Stirrers
- Plastic Beverage Holder
- Others
North America Recycled Ocean Plastics Market, By Application
- Apparel
- Footwear
- Interiors
- Bags & Luggage
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm that provides actionable market research study, quantitative forecasting, and trends analysis provides forward-looking insight especially designed for decision-makers and aids ROI.
Which caters to different industries such as financial sectors, industrial sectors, government organizations, universities, non-profits, and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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