India Plastic Recycling Market - Predicted Growth, Trends, Opportunity & Analysis
The India Plastic Recycling Market stood at USD 520.68 million in 2022 and is expected to grow at a CAGR of 7.58% during the forecast period. Development in various industries such as packaging, and automotive, and policies and regulations by the government are driving the market. This can be attributed to the increasing environmental awareness and viable applicability of the products derived from plastic waste. Although this sector is mostly managed by unorganized local players, the Government of India has enforced plastic waste management rules that prohibit the use of single-use plastics that have low utility and high littering potential. Nowadays, environmental protection has become India’s topmost priority which paves the path to design and implement methods to manage plastic waste effectively to minimize the pollution generated through non-decomposable plastics. To curb the negative impact of plastics on the environment, several major steps have been taken by...