Plastic Recycling Market
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Overflowing Landfills Increase Pressure on Governments for Recycling Plastic The growing pressure of overflowing landfills has been the primary growth driver for the global plastic recycling market . This factor has proven to be an important driver for the plastic recycling market in developed regions such as Europe . The mounting plastic waste has triggered Herculean task of recycling plastic waste . Furthermore , the European Committee of Region ’ s ( CoR ) support for the ban on all dumping plastics in landfills across the European 2020 has also won the market a special impetus .
The growing awareness about protecting the environment , hazardous impact of plastic wastes on landfills and animals , and need to reduce the carbon footprint has also fueled the global plastic recycling market . Owing to these reasons , solutions such as drop-off recycling , curbside recycling , buy-back centers , and deposit / refund centers are helping various organizations to channelize trash for recycling . The global market is also gaining momentum due to the cost-effectiveness of recycling plastic over manufacturing plastic . Production of plastic requires a large amount of crude oil , which has gotten expensive with each passing year , thus making the option of recycling existing plastic far cheaper .
Poor Collection Systems to Restrain Market Growth Despite the benefits of plastic recycling , the global market for the same is being held back due to several reasons . To begin with , the poor system of collecting waste materials is the key restraint for the global market . “ About 10 % of the overall waste produced in Africa is funneled through the collection systems ,” states the lead author of this research report . The author further states that the remaining 90 % goes unaccounted for resulting in addition to landfills or being dumped into oceans and river streams .
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