U.S. Recycled Ocean Plastics Market Size & Outlook
U.S. recycled ocean plastics market, 2019-2030 (US$M)
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U.S. recycled ocean plastics market highlights
- The U.S. recycled ocean plastics market generated a revenue of USD 351.9 million in 2023 and is expected to reach USD 564.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 7% 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 351.9 million |
| Market revenue in 2030 | USD 564.7 million |
| Growth rate | 7% (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, U.S. accounted for 20.1% 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 North America, U.S. recycled ocean plastics market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 564.7 million by 2030.
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Recycled Ocean Plastics Market Scope
Recycled Ocean Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. 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 35.86% in 2023. Horizon Databook has segmented the U.S. 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.
According to the full-year trade data released by the U.S. Census Bureau, the import of plastic scrap, identified by the harmonized system (HS) code 3915, has persistently been on the rise. In 2023, the figure increased by 5% compared to the previous year, with the total quantity imported surpassing 446,700 metric tons.
This can be attributed to the rising plastic demand in the U.S. and its attempt to cater to this demand by recycling plastics. Various cities in the U.S., such as Seattle, Phoenix, and Austin, have plastic recycling incentives where residents are charged for landfill waste streams and not the cost of recycling waste streams.
Cities such as Charlotte, Houston, and Chicago are the least-performing cities in terms of plastic recycling. The U.S. Food and Drug Administration has approved the use of recycled plastics, including ocean plastics, such as polyethylene terephthalate, polystyrene, polyvinyl chloride, and polyolefin in food packaging solutions.
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Target buyers of U.S. 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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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. recycled ocean plastics market, including forecasts for subscribers. This country databook contains high-level insights into U.S. recycled ocean plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. recycled ocean plastics market report size, by resin, 2019-2030 (US$M)
U.S. Recycled Ocean Plastics Market Share, 2023 & 2030 (US$M)
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