Australia Recycled Plastic Market Is Driven By Stringent Government Regulations

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The Australia recycled plastic market is an integral part of the country's waste management system. Recycled plastic is obtained from different sources such as household waste, commercial and industrial waste, and construction and demolition waste. Various types of recycled plastics include polyethylene terephthalate, high-density polyethylene, polyvinyl chloride, low-density polyethylene, and polypropylene. Recycled plastic finds applications in new plastic products, sheet and film, plastic lumber, fabrics, and flooring among others owing to properties like durability and mobility. It helps reduce dependence on virgin plastics and promotes a circular economy. 

The Global Australia recycled plastic market is estimated to be valued at US$ 798.1 Mn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024-2031.

Key players operating in the Australia recycled plastic market are Synergy Packaging, Amcor PLC, Vanden Global Ltd, Corex, Pact Group Holdings Australia Pty Ltd and Among Others. Second-hand plastics or post-consumer plastics are the major contributors to the recycled plastic stream ...
... in Australia. The growing awareness regarding environmental protection and sustainability has increased the demand for recycled plastics from industries like packaging, construction and automotive. Moreover, stringent government regulations regarding the ban on single-use plastics and landfill limits have further propelled the uptake of recycled plastic in the country.

The Australian recycled plastic market has also witnessed growth due to significant global expansion. Major players are focusing on expanding their presence internationally to leverage business opportunities. For instance, in 2023 Synergy Packaging announced plans to expand operations in New Zealand and Southeast Asia owing to growing demand. Additionally, the government's efforts to develop Australia as a key exporter of quality recycled plastic products and solutions has boosted market growth.

The key driver for the Australia recycled plastic market is stringent government regulations. The Australian government has implemented several regulations like the ban on lightweight plastic bags, limits on landfilling, and taxes on virgin plastic usage. It aims to make plastic recycling mandatory and achieve a 70% national recycling rate by 2025. The government also provides subsidies and invests in advanced recycling infrastructure to encourage plastic reprocessing. Such stringent regulatory policies have increased the supply of post-consumer plastic scrap for recycling and demand from end-use industries. This is a major factor powering the growth of the Australia recycled plastic market.

Current Geopolitical Impact On Australia Recycled Plastic Market Growth

The Australia recycled plastic market is witnessing uncertainties due to ongoing geo-political conflicts and economic challenges globally. Being an export dependent economy, Australia's growth is highly influenced by global trade dynamics. Recent trend of de-globalization and disruption in global supply chains pose concerns. Rising instances of protectionism among key trading partners like China and European Union could adversely impact the exports of recycled plastic from Australia in the long run. Additionally, escalating tensions between USA and China threatens global trade stability which is a major hindrance. Further, the ongoing geo-political tensions between Russia and Ukraine has exacerbated the volatility in commodity prices including crude oil and natural gas. This is detrimental as plastic production is heavily reliant on such commodities. Additionally, pandemic related lockdowns in China creates supply side disturbances for Australia's recycled plastic industry. To sustain growth, the Australian recycled plastic industry needs strategies to diversify export destinations, build resilient local supply chains and focus on product innovation. Developing strategic cooperation with partner countries and regional trade blocks can aid in mitigating geopolitical risks.

Geographical Regions with Highest Market Concentration

Being the world's 12th largest economy, the Australian recycled plastic market sees strong demand concentration along the populous eastern coast region comprising New South Wales, Victoria and Queensland. These states account for over 70% of the country's total recycled plastic demand led by construction, automotive and packaging industry requirements. Tasmania and Northern Territory together contribute to less than 2% of Australia's recycled plastic consumption. Western Australia is also a high growth region witnessing increasing needs from mining and infrastructure sectors. Additionally, metropolitan cities like Melbourne, Sydney and Brisbane exhibit denser market volumes compared to other regions within their respective states.

Fastest Growing Geographical Region

Among all regions, Queensland province in Northern Australia is emerging as the fastest expanding market for recycled plastics. It is forecast to register a CAGR of over 11% during the period. Major factors driving the demand include growing urbanization, industrialization efforts and large infrastructure projects under development. The region hosts expanding ports, power projects and manufacturing clusters that are expected to scale up adoption of recycled plastic materials for construction use as well as equipment manufacturing over the coming years. Focus on mining and resource sector activities in Outback Queensland also supports the upstream plastic recycling industry's prospects in this province. Initiatives towards greater use of recycled plastic in agriculture and landfill application present new avenues for future growth as well.

Get more insights on this topic: https://colinwilson11.hashnode.dev/australia-recycled-plastic-market-poised-to-expand-due-to-rapid-industrialization

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

What Are The Key Data Covered In This Australia Recycled Plastic  Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Australia Recycled Plastic 's growth between 2024 and 2031.

:- Accurate calculation of the size of the Australia Recycled Plastic  and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Australia Recycled Plastic  Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Australia Recycled Plastic  vendors

FAQ’s

Q.1 What are the main factors influencing the Australia Recycled Plastic ?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Australia Recycled Plastic  companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Australia Recycled Plastic ’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it