San Francisco, California, October 23, 2018: A recent report by TMR Research, titled, “Recycled Thermoplastic Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018–2028,” starts out with a basic description of the product. It states that a thermoplastic is a polymer which is flexible and elastic at a certain temperature. However, it bounces back to a solid state post cooling. Most of the thermoplastic have high atomic weight and their chains can relate via intermolecular powers.
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The report adds that thermoplastics are recyclable since the polymer chain does not debase once it is softened down. This is driving demand in the global recycled thermoplastic market which consists of both biodegradable and non-biodegradable products. Going forward, high awareness about strict rules pertaining to ecological controls are factors that would likely propel the demand in the global recycled thermoplastics market.
Another factor boding well for the market is the constant thrust on research and development leading to the launch of better products every now and then. Going forward, Asia Pacific is predicted to account for a dominant share in the global recycled thermoplastic market with maximum contribution to revenue. This is because of the growth in the sectors such as electronic and electrical, automotive and transportation. Developing economies of India and China are at the forefront of driving demand because of the increasing spending capacity of people which is driving demand in the automobile and electronics sectors. The nations have also emerged as major manufacturing hubs.
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Europe, on the other hand, is already generating substantial revenue in the global recycled thermoplastic market. This is because of the well-developed industrial and automobile sectors. This in turn is because of the high spending capacity of people. The market of the region is mainly being driven by Germany.
Some of the key players in the global recycled thermoplastic market are PARC Corporation, Clear Path Reusing, Plastipak Holdings, Inc., KW Plastics, and B. Schoenberg and Co.