UK Recycled Ocean Plastics Market Size & Outlook, 2023-2030
UK recycled ocean plastics market, 2019-2030 (US$M)
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UK recycled ocean plastics market highlights
- The UK recycled ocean plastics market generated a revenue of USD 32.9 million in 2023 and is expected to reach USD 59.6 million by 2030.
- The UK market is expected to grow at a CAGR of 8.9% 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 32.9 million |
| Market revenue in 2030 | USD 59.6 million |
| Growth rate | 8.9% (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, UK accounted for 1.9% 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 Europe, Germany recycled ocean plastics market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 184.3 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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UK 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 36.78% in 2023. Horizon Databook has segmented the UK 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.
The UK government has taken steps toward creating a circular economy for plastics, with a specific focus on plastic packaging. This sector generates almost 70% of plastic waste in the UK, making it a key priority for the country's efforts to reduce waste.
Currently, only 44.2% of plastic packaging is recycled in the UK. The fishery is a significant industry in the UK, and its landing was worth USD 76.6 million in June 2023. It is one of the leading causes of plastic pollution in the ocean. Fishing operations, such as using nets, traps, and other fishing gear, often result in the loss or abandonment of plastic materials.
Once discarded, these plastic items can remain in the marine environment for decades, posing a threat to aquatic ecosystems, marine life, and coastal communities. This rising ocean pollution and its ill effects are expected to drive the recycled ocean plastics market.
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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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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 UK recycled ocean plastics market, including forecasts for subscribers. This country databook contains high-level insights into UK recycled ocean plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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UK recycled ocean plastics market report size, by resin, 2019-2030 (US$M)
UK Recycled Ocean Plastics Market Share, 2023 & 2030 (US$M)
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