Canada Plastic Recycling Market to be Led by Packaging Segment Through 2028
The increasing awareness about
environmental issues among consumers is boosting the Canada plastic recycling
market.
According to a TechSci
Research report, titled “Canada Plastic Recycling Market - By Region, Competition, Forecast, and Opportunities, 2018-2028,"
the
market for plastic recycling in Canada is anticipated to register a humongous
rise over the next few years. The market is expected to gain substantially from
the increasing awareness of environmental issues among consumers. Plastic
recycling is the process of recovering and reusing plastic materials that would
otherwise be discarded as waste. Recycling plastics reduces the amount of waste
in landfills, conserves natural resources, and can help reduce greenhouse gas
emissions.
One of the biggest
opportunities market players can benefit from is the growing demand for
recycled plastics, as more companies and consumers seek out sustainable
alternatives to traditional plastics. This demand is being driven by concerns
about climate change and plastic pollution, and by government regulations that
are encouraging companies to use more recycled materials.
The future outlook for the
Canada plastic recycling market is promising, with continued growth expected in
the coming years. The federal government has set a target of achieving zero
plastic waste by 2030, which will require significant investments in recycling
infrastructure and advanced technologies. In addition, the growing awareness of
the benefits of recycled plastics is fueling their demand, which in turn, is
driving innovation and investment in this market.
Overall, the Canada plastic
recycling market is an important and growing part of the country's economy and
environmental efforts. While the market is facing a few challenges, there are
also many opportunities for growth and innovation, making the future outlook positive.
the economic viability of
plastic recycling is one challenge that the Canada plastic recycling market
face. While there is a surging demand for sustainable products made from
recycled plastics, the cost of recycling them can be higher than the cost of
producing new plastics. This can make it difficult for recyclers to compete
with virgin plastic producers, particularly in industries with tight profit
margins.
The last three years have
seen significant developments in recycling technologies in Canada. Pyrowave, a
Montreal-based company, has developed a patented technology that uses
microwaves to break down plastic waste into its parts, which can then be used
to create new products.
A new trend of partnerships
and collaborations has emerged in the Canada plastic recycling market. For
example, in 2021, the Ontario government announced a partnership with the
Canadian Plastics Industry Association to promote the development of a circular
economy for plastics in the province. several major Canadian retailers,
including Walmart, Loblaw, and Metro, formed a consortium to promote
sustainable packaging and reduce plastic waste. The consortium aims to develop
sustainable packaging solutions and promote the use of recycled plastics in their
products.
Browse over XX market data Figures spread through 70
Pages and an in-depth TOC on the "Canada Plastic Recycling Market"
The Canada plastic
recycling market is segmented based on type, source, method, and end user.
Based on type, the market is
divided into polyethylene, polyethylene terephthalate, polypropylene, polyvinyl
chloride, polystyrene, and others. The polyethylene segment is expected to hold
the largest market share during the forecast period due to the booming
packaging industry in the country.
Based on source, the market
is divided into bottles, films, fibers, foams, and others. The increasing
demand for recycled products is driving the bottles segment substantially.
Major companies operating in the
Canada plastic recycling market are:
- Merlin Plastics
- Emterra Group
- GreenMantra Technologies
- TerraCycle Canada
- Pyrowave
- EFS-Plastics Inc.
- Envision SQ
- Revital Polymers
- Wasteco
- Cascades Recovery
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“The Canada plastic recycling
market has seen significant developments in the last three years, driven by a
combination of government initiatives, investments in infrastructure, technological
developments, and partnerships and collaborations. These developments are
expected to continue to drive the market in the coming years, as more companies
recognize the importance of sustainable practices and work to reduce plastic
waste," said Mr. Karan Chechi, Research Director at TechSci Research, a
research-based global management consulting firm.
Canada Plastic Recycling Market, By Type (Polyethylene,
Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene,
Others), By Source (Bottles, Films, Fibers, Foams, Others), By Method
(Mechanical, Thermal, Chemical, Landfill), By End-User (Packaging, Building
& Construction, Textile, Electrical & Electronics, Automotive, Others)
By Region, Competition, Forecast & Opportunities, 2028 has evaluated the future
growth potential of Canada Plastic Recycling market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in the Canada plastic recycling market.
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