Asia Pacific Recycled Ocean Plastics Market Size & Outlook
Asia Pacific recycled ocean plastics market, 2019-2030 (US$M)
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Asia Pacific recycled ocean plastics market highlights
- The Asia Pacific recycled ocean plastics market generated a revenue of USD 785.8 million in 2023.
- The market is expected to grow at a CAGR of 8.1% from 2024 to 2030.
- In terms of segment, polyethylene terephthalate (pet) was the largest revenue generating resin in 2023.
- Polystyrene (PS) is the most lucrative resin segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 785.8 million |
| Market revenue in 2030 | USD 1,352.3 million |
| Growth rate | 8.1% (CAGR from 2023 to 2030) |
| Largest segment | Polyethylene terephthalate (pet) |
| Fastest growing segment | Polystyrene (PS) |
| Historical data covered | 2019 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE), Polypropylene (PP), Polyethylene Terephthalate (PET), Polystyrene (PS), Polyvinyl chloride (PVC) |
| Key market players worldwide | Simpson Manufacturing Co Inc, Mitek Systems Inc, Eurotech Ltd, Globus Medical Inc Class A, Oceanworks, Aquafil SpA, Ocean Plastics, The Ocean Cleanup, Oceanus, Textil Santanderina, SeQual Technologies, Waterhaul, Bionic, Bureo Skateboards, Tide Ocean, Plastixs, POPSICASE, Parley, Econyl |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 44.8% of the global recycled ocean plastics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,352.3 million by 2030.
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Recycled Ocean Plastics Market Scope
Recycled Ocean Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific recycled ocean plastics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to recycled ocean plastics market will help companies and investors design strategic landscapes.
Polyethylene terephthalate (pet) was the largest segment with a revenue share of 36.79% in 2023. Horizon Databook has segmented the Asia Pacific recycled ocean plastics market based on high-density polyethylene (hdpe), low-density polyethylene (ldpe), polypropylene (pp), polyethylene terephthalate (pet), polystyrene (ps), polyvinyl chloride (pvc) covering the revenue growth of each sub-segment from 2019 to 2030.
Asia Pacific is witnessing increased soft beverage consumption owing to growing population and rising disposable income. This further drives the growth of recycled ocean plastics market in the region as there is an increased waste generation in form of plastic bottles.
According to a report by Science Advances journal published in 2021, about 75% of ocean plastic pollution can be attributed to waste mismanagement taking place in countries of Asia Pacific, including India, China, Malaysia, Myanmar, Indonesia, Vietnam, Bangladesh, the Philippines, and Thailand.
The grant, which is part of the Southeast Asia Regional Program on Combating Marine Plastics (SEA-MaP), targets to decrease plastic consumption, increase recycling, and diminish plastic waste in the region, by 2025.
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Target buyers of Asia Pacific recycled ocean plastics market databook
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Our clientele includes a mix of recycled ocean plastics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific recycled ocean plastics market, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific recycled ocean plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific recycled ocean plastics market report size, by country, 2019-2030 (US$M)
Asia Pacific Recycled Ocean Plastics Market Share, 2023 & 2030 (US$M)
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