Recycled Ocean Plastics Industry - Regional Synopsis
On the basis of regional analysis, the recycled ocean plastics market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa, North America industry is poised to hold largest revenue share by 2037, on account of increasing demand for recycled plastics coupled with the presence of leading companies converting waste materials into innovative products. The North American market is followed by Europe, Asia Pacific, Latin America, and the Middle East and African market. This is attributed to various initiatives undertaken by the government and other organizations in these regions to recycle and reuse the ocean plastic waste. Half of the world’s plastics are manufactured in China which contributes to around 29% thereby leveraging the need to recycle plastic waste, boosting the growth of the global recycled ocean plastic market.
