Recycled Plastics Market: Global Industry Forecast (2023-2029) by Source, Type, End-Use Industry, a

Plastic is a versatile material. It is lightweight, effective, and long-lasting, and has played an important role in the COVID-19 emergency response in the production of personal protective equipment (PPE). Nonetheless, plastic waste is a serious global issue. Every year, the world generates almost 400 million tonnes of plastic, much of which is deemed mismanaged after use. The volume of plastic garbage collected in towns and villages, landfills, dumps, and the natural environment has raised concerns. An estimated 25% of plastic garbage is burnt, with the other 56% being disposed of in landfills. Plastic recycling rates are low, averaging 14-18% globally and significantly lower in some countries, compared to recycling rates of more than 50% for steel, aluminum, copper, and paper.