North America Recycled Ocean Plastics Market

Historic Data: 2020-2021   |   Base Year: 2022   |   Forecast Period: 2023-2028

Analysis – by Resin Type [Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polystyrene (PS), and Others] and Application (Footwear, Bags & Luggage, Apparel, Construction Materials, and Others)


No. of Pages: 121    |    Report Code: BMIRE00027960    |    Category: Chemicals and Materials

North America Recycled Ocean Plastics Market
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The North America recycled ocean plastics market is expected to grow from US$ 2,546.14 million in 2022 to US$ 4,029.99 million by 2028. It is estimated to grow at a CAGR of 8.0% from 2022 to 2028.

 

Favorable Initiatives from Governments and Non-profit Organizations is Fueling the North America Recycled Ocean Plastics Market

Many governments and nonprofit organizations are taking initiatives to scale up the recycling of plastic waste that ends up in oceans and landfills. These initiatives are meant to promote environmental sustainability and minimize the overall carbon footprints. Further, governments are implementing favorable regulations that promote the use of products made from recycled ocean plastics. In November 2020, the US International Development Finance Corporation (DFC) invested US$ 2.5 billion to develop infrastructure to reduce and recycle plastic waste & debris in oceans and waterways. Through this initiative, the DFC will provide funding to small businesses in developing countries and boost investments to increase the current plastics recycling rate. Such government regulations are bolstering the North America recycled ocean plastics market.  

 

North America Recycled Ocean Plastics Market Overview

 

The rising awareness about reducing plastic waste and lowering carbon emissions has fueled the demand for recycled ocean plastics in footwear and apparel production in North America. The increasing footwear production in the region will create lucrative opportunities for recycled ocean plastics. In North America, the apparel, fashion, and beauty industry generate approximately US$ 600 billion in annual revenue and employs more than four million people in 2020. Furthermore, the growing number of gymnasiums, fitness clubs, and yoga centers selling customized products such as hoodies, joggers, and shoes is contributing to market growth. The development in the packaging industry in the region is another major factor boosting the demand for recycled ocean plastics. Rapidly expanding food retail sector, significant demand for packaged food, rising inclination towards sustainability, and growth of e-commerce and online delivery platforms is expected to boost the demand for recycled plastic films and containers used by the food & beverages industry, thereby propelling the North America recycled ocean plastics market growth.    

 

North America Recycled Ocean Plastics Market Revenue and Forecast to 2028 (US$ Million)

North America Recycled Ocean Plastics Market Revenue and Forecast to 2028 (US$ Million)
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North America Recycled Ocean Plastics Strategic Insights

Strategic insights for the North America Recycled Ocean Plastics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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North America Recycled Ocean Plastics Report Scope

Report Attribute Details
Market size in 2022 US$ 2,546.14 Million
Market Size by 2028 US$ 4,029.99 Million
Global CAGR (2022 - 2028) 8.0%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Resin Type
  • Polyethylene Terephthalate
  • Polyethylene
  • Polypropylene
  • Polystyrene
By Application
  • Footwear
  • Bags & Luggage
  • Apparel
  • Construction Materials
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Market leaders and key company profiles
  • Aquafil S.p.A.
  • BIONIC
  • Envision Plastics
  • Oceanworks
  • SABIC
  • Textil Santanderina
  • Tide Ocean SA
  • Unifi, Inc.
  • Waste2Wear
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    North America Recycled Ocean Plastics Regional Insights

    The geographic scope of the North America Recycled Ocean Plastics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    North America Recycled Ocean Plastics Market Segmentation  

     

    The North America recycled ocean plastics market is segmented based on resin type, application, and country.

     

    Based on resin type, the North America recycled ocean plastics market is segmented into the polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polystyrene (PS), and others. The polyethylene terephthalate (PET) segment held the largest share of the market in 2022.

     

    Based on application, the North America recycled ocean plastics market is segmented into the footwear, bags & luggage, apparel, construction materials, and others. The apparel segment held the largest share of the market in 2022.

     

    Based on country, the North America recycled ocean plastics market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US dominated the market share in 2022. 

     

    Aquafil S.p.A.; BIONIC; Envision Plastics; Oceanworks; SABIC; Textil Santanderina; Tide Ocean SA; Unifi, Inc.; and Waste2Wear are the leading companies operating in the North America recycled ocean plastics market.

    The List of Companies - North America Recycled Ocean Plastics Market

    1. Aquafil S.p.A.
    2. BIONIC
    3. Envision Plastics
    4. Oceanworks
    5. SABIC
    6. Textil Santanderina
    7. Tide Ocean SA
    8. Unifi, Inc.
    9. Waste2Wear 
    Frequently Asked Questions
    How big is the North America Recycled Ocean Plastics Market?

    The North America Recycled Ocean Plastics Market is valued at US$ 2,546.14 Million in 2022, it is projected to reach US$ 4,029.99 Million by 2028.

    What is the CAGR for North America Recycled Ocean Plastics Market by (2022 - 2028)?

    As per our report North America Recycled Ocean Plastics Market, the market size is valued at US$ 2,546.14 Million in 2022, projecting it to reach US$ 4,029.99 Million by 2028. This translates to a CAGR of approximately 8.0% during the forecast period.

    What segments are covered in this report?

    The North America Recycled Ocean Plastics Market report typically cover these key segments-

    • Resin Type (Polyethylene Terephthalate, Polyethylene, Polypropylene, Polystyrene)
    • Application (Footwear, Bags & Luggage, Apparel, Construction Materials)

    What is the historic period, base year, and forecast period taken for North America Recycled Ocean Plastics Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Recycled Ocean Plastics Market report:

  • Historic Period : 2020-2021
  • Base Year : 2022
  • Forecast Period : 2023-2028
  • Who are the major players in North America Recycled Ocean Plastics Market?

    The North America Recycled Ocean Plastics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • Aquafil S.p.A.
  • BIONIC
  • Envision Plastics
  • Oceanworks
  • SABIC
  • Textil Santanderina
  • Tide Ocean SA
  • Unifi, Inc.
  • Waste2Wear
  • Who should buy this report?

    The North America Recycled Ocean Plastics Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the North America Recycled Ocean Plastics Market value chain can benefit from the information contained in a comprehensive market report.

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