Rising Government Regulations is Propelling for Recycled Plastic Companies to Augment Their Product Offerings
Recycled plastics involve a process of waste plastic materials or scrap that are processed into useful products. The rising regulations in the usage of single-use polymers and the initiatives taken by governments in Brazil, China, Europe, and India are anticipated to promote recycling.
As per a report by Fortune Business Insights™, the market for recycled plastics is projected to grow from USD 50.78 billion in 2023 to USD 88.96 billion by 2030, with a CAGR of 8.3% during the forecast period.
Fortune Business Insights™ Profiles Top 10 Key Players/Companies of Recycled Plastics
1. Veolia
The company was founded in 1853 and is headquartered in France. The company mainly operates in three main services, waste management, energy services, and water management. The company functions with 823 waste processing facilities, operates 2,716 industrial sites, and manages 4,130 drinking water production plants. It recycles various types of resins such as expanded polypropylene, expanded polyethylene, and others. Veolia generated USD 46.32 billion in 2022.
- In 2021: L’Oreal and Veolia joined forces to decrease the carbon footprint of cosmetic packaging in a circular economy approach. Veolia will supply high-quality recycled plastics for L’Oreal packaging globally. These plastics can be obtained after processing the plastic material in waste derived from consumer packaging, especially plastic bottles.