Recycled Plastics Market
Recycled Plastics Market According to the Pacific Institute, an American think-tank, producing bottles for American consumption, alone, requires energy equivalent to 17 million barrels of oil; and the figure doesn’t include the energy consumed during transportation of the same. Moreover, the institute assessed that producing one unit of bottled water requires three liters of water. [1] The data was documented in 2006, and the consumption of water from plastic bottles has only increased since then, not only in the U.S., but all over the globe. While the world is threatened by the depletion of energy sources, it has become imperative to save energy that is consumed through manufacturing of plastic for various purposes. This is significantly driving the recycled plastics market that achieved a valuation of $39,623m in 2018. The demand for recycled plastics is poised to observe an increment of 6.5% CAGR during the forecast period 2019 to 2025. Plastic disposal ...