Southeast Asia Recycled Polyvinyl Chloride Market Size, Share and Trend Analysis Report by Product, Application, Country and Segment Forecast, 2022
Southeast Asia Recycled Polyvinyl Chloride Market Size, Share and Trend Analysis Report by Product (Post-Consumer Recycled PVC, Post-Industrial Recycled PVC), by Application, by Country and Forecast segment, 2022-2030
New York, Sept. 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Southeast Asia Recycled Polyvinyl Chloride Market Size, Share & Trends Analysis Report By Product, By Application, By Country And Segment Forecasts, 2022 – 2030 “- https://www.reportlinker.com/p06318476/?utm_source=GNW
Southeast Asia Recycled Polyvinyl Chloride Market Growth and Trends
The market size of recycled polyvinyl chloride in Southeast Asia is expected to reach USD 563.15 million by 2030. The market is expected to grow at a CAGR of 4.9% from 2022 to 2030. Growing penetration for building and construction, packaging, electrical and electronics, and automotive applications coupled with increasing infrastructure spending, especially in the Asia and Southeast Asia region , is expected to remain a key driver for recycled polyvinyl chloride (PVC) across Southeast Asia during the forecast period.
Higher profitability and easier availability of conventional polyvinyl chloride than recycled polyvinyl chloride are expected to remain key challenges for market players. In addition, the production of recycled polyvinyl chloride requires specialized machinery and equipment and, above all, polyvinyl chloride waste collection services.
Post-consumer recycled PVC emerged as the major raw material in terms of market share in 2021. Rise in demand for consumer electronics followed by rise in disposable income of the middle-class population is expected to derive the demand for post-consumer recycled PVC across Southeast Asia.
According to the World Bank Group study conducted in 2021, more than 75% of recyclable plastics in the Philippines, Thailand and Malaysia are wasted. This represents an untapped business opportunity for companies offering recycled polyvinyl chloride and other recycled plastics in these countries.
In addition, the joint efforts of the Incubation Network (comprising of plastic end-user companies, government organizations and plastic resin manufacturers), Alliance to End Plastic Waste and Global Plastic Action Partnership to tackle the problem of waste management of plastic waste in Southeast Asia can create more growth opportunities for the recycled PVC market.
For example, in June 2022, the Plastic Waste to Value Southeast Asia Challenge was launched by Alliance to End Plastic Waste, Global Plastic Action Partnership and The Incubation Network, which focuses on the development of plastic recycling and upcycling projects in Vietnam, Thailand and the Philippines.
During the COVID – 19 pandemic, Southeast Asia along with the rest of the regions have seen a decrease in plastic waste collection due to the implementation of lockdowns to contain the spread of the virus. In addition, the recycling units have been stopped, which has further reduced the recycling process in the region.
Consequently, the recycled PVC market in Southeast Asia has experienced a significant decline.
Highlights of the Southeast Asia Recycled Polyvinyl Chloride Market Report
• Singapore led the overall recycled PVC market in Southeast Asia. The Singapore government aims to increase the percentage of use of recycled PVC in various applications in the country. This factor is likely to drive the growth of the market
• Post-industrial recycled PVC was estimated to be the largest product segment in 2021 and is also expected to dominate the market during the forecast period
• Growing demand for PVC in healthcare, container, and pipe manufacturing applications is expected to generate PVC waste during manufacturing and finishing operations, which may fuel post-industrial market demand for sodium chloride. recycled polyvinyl over the forecast period
• In January 2022, SUEZ Water Technologies & Solutions won a contract with VinyThai Public Company Limited for the design and construction of water treatment, wastewater recycling and waste recovery systems. The package will include a filter press for bio-waste and polyvinyl chloride (PVC) waste, ZeeWeed – 500D Membrane Bioreactor, PROFlex – Brackish Water Reverse Osmosis System, and SUEZ’s Poseidon – Flotation Flotation System. dissolved air. Since VinyThai Public Company Limited is involved in the manufacture of PVC resins, SUEZ’s recycling technology can help the company in the manufacture of recycled PVC.
Read the full report: https://www.reportlinker.com/p06318476/?utm_source=GNW
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