China Recycled Ocean Plastics Market Size & Outlook
China recycled ocean plastics market, 2019-2030 (US$M)
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China recycled ocean plastics market highlights
- The China recycled ocean plastics market generated a revenue of USD 332.2 million in 2023 and is expected to reach USD 624.4 million by 2030.
- The China market is expected to grow at a CAGR of 9.4% 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.
Recycled ocean plastics market data book summary
| Market revenue in 2023 | USD 332.2 million |
| Market revenue in 2030 | USD 624.4 million |
| Growth rate | 9.4% (CAGR from 2023 to 2030) |
| Largest segment | Polyethylene terephthalate (pet) |
| Fastest growing segment | Polystyrene (PS) |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 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, China accounted for 18.9% of the global recycled ocean plastics market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China recycled ocean plastics market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 624.4 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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China 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 35.88% in 2023. Horizon Databook has segmented the China 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.
China accounts for a significant portion of oceanic plastic pollution. Yangtze River of the country, which is the third-longest river in the world, has a significant number of inhabitants living nearby who dispose of their plastic waste in it. This makes the river one of the most prominent ocean polluters in the world. These circumstances also promote the requirement for an improved solution to recycle waste.
Moreover, the large population and increased demand for plastics in the country are expected to contribute to the growth of recycled ocean plastics market in China over the forecast period. The government of the country is gradually focusing on sustainability and taking initiatives in this regard.
In September 2021, the Government of China announced a five-year plan (2021–2025) to boost its plastic recycling and incinerating capabilities while promoting adoption green plastic products. According to the Earth.org, China produces 60 million tons of plastic annually; however, its recycling rate is about 30% of it. The plan involves achieving a recycling rate of 85% for agricultural plastic mulch by 2025.
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Target buyers of China 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 country-level data and insights on the China recycled ocean plastics market, including forecasts for subscribers. This country databook contains high-level insights into China recycled ocean plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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China recycled ocean plastics market report size, by resin, 2019-2030 (US$M)
China Recycled Ocean Plastics Market Share, 2023 & 2030 (US$M)
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