Recycled thermoplastics are plastics that have been melted and reformed into new items. Thermoplastics are highly reusable since the material retains its qualities after being melted and produced again. They also include materials that can be easily separated for recycling with automated recycling equipment. Thermoplastics are completely reversible and may be recycled effectively; they can also be used to create new goods. This is owing to their ability to be melted and frozen multiple times without losing their qualities.
Europe Recycled Thermoplastics Market Driving Factors and Challenges
Driving Factors: The EU's emphasis on establishing a circular economy and stringent environmental regulations are driving the European market for recycled thermoplastics. In order to reduce plastic waste, the European Union has put in place a number of laws, such as prohibitions on single-use plastics and demands for products and packaging to contain a greater percentage of recycled materials. Manufacturers are under pressure from these rules to increase their use of recycled thermoplastics. The need for recycled thermoplastics is further increased by Europe's well-established recycling infrastructure, which facilitates the collection and processing of high-quality recyclable materials in sectors including packaging, building, and automobiles.
Challenges: The variability in quality of recycled thermoplastics makes them difficult to utilize in more demanding applications. Variability occurs for a variety of causes, including the origin of materials, the cycles of the recycling system, and interference. The automotive and aerospace sectors, in particular, require heavy-duty, long-lasting parts with unique properties. Furthermore, a lack of coordination in regulation can complicate how businesses enter new markets in order to diversify their operations and work around the quirks of various regulatory regimes.
Impact of COVID-19 on Europe Recycled Thermoplastics Market
The market for recycled thermoplastic was significantly impacted by the COVID-19 pandemic because of the abrupt decline in demand across a number of end-user sectors brought on by the temporary closure of production facilities. There was a significant decline in the demand for thermoplastics in the construction, automotive, and aerospace industries. But in order to meet the demands of medical and food handling applications, the demand for innovative thermoplastic polyethylene gloves manufactured using TPEs skyrocketed during the pandemic. Many food and healthcare businesses increased their use of disposable gloves to guarantee proper safety as a result of the increased focus on preventing contamination and the transmission of infectious diseases.
Europe Recycled Thermoplastics Market Key Players:
The competitive landscape, market segments, revenue analysis, and detailed examination of several prominent market players are provided in this market study, including B & B Plastics, United Plastic Recycling, RJM International, Plastipak Holdings, Parc Corporation, Fresh Pak, Envision Plastics, Custom Polymers, Inc, B. Schoenberg, KW Plastics.
Europe Recycled Thermoplastics Market Segmentation:
By Form: Based on the Form, Europe Recycled Thermoplastics Market is segmented as; Flakes, Pellets, Granules.
By Technology: Based on the Technology, Europe Recycled Thermoplastics Market is segmented as; Extrusion, Injection Molding, Blow Molding, Others.
By Product: Based on the Product, Europe Recycled Thermoplastics Market is segmented as; Polyethylene, Polyethylene Terephthalate, Polypropylene, Polystyrene, Polyvinyl Chloride, Others.
By Application: Based on the Application, Europe Recycled Thermoplastics Market is segmented as; Packaging, Automotive, Consumer Goods, Medical, Building & Construction, Electrical & Electronics, Others.
By Region: This research also includes data for Germany, United Kingdom, Italy, Spain, France, Russia, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.