Market Summary
Research Methodology on Ocean Bound Plastics Market
The research methodology used for this report on the market for ocean-bound plastics is derived from a systematic approach to analyzing the global market size and its potential future growth. The primary data regarding market size and growth rate are collected from secondary sources such as newspaper articles, industry journals, reports, blogs and whitepapers, books, press releases and annual reports. Moreover, the primary data is collected from industry experts and opinion holders, such as key opinion leaders, investment bankers and brokerage firms and industry players.
Market Size Estimation
For the estimation of the total market size, the following parameters are taken into consideration:
- The global ocean-bound plastic market size, in terms of revenue, for the period between 2024 and 2032 is calculated by estimating the revenue of major players in the market, considering the historical data from 2018 to 2022.
- The segmental market size is calculated using the bottom-up approach, wherein the smallest and the largest segments are estimated by considering the growth rates across different applications and regions.
- The year-on-year growth rate of the global ocean-bound plastic market is studied to understand the growth trajectory in the market.
- The global ocean-bound plastic market volume is estimated by incorporating the revenue of each segment across all regions.
- The growth rate of the ocean-bound plastics market is estimated while considering the historical growth rate of different applications and regions.
Data Triangulation
Data triangulation is used to ensure the accuracy and robustness of the estimated market size. This used a combination of techniques, such as Porter’s Five Forces analysis for the industry and SWOT analysis for the product. The data is triangulated by the use of various approaches and sources, such as primary interviews, observation, and secondary research.
Market Forecasting
The segmental growth rate is identified using a weighted average approach, wherein the market size of each segment is multiplied by its respective market share, thus obtaining the weighted average growth rate for the segment. The global market size and the growth rate of the global ocean-bound plastics market for the period between 2023 and 2030 are determined based on the estimated CAGR of each segment over the respective forecast period.
Assumptions
In this process, the following assumptions were made:
-
The market size calculation is based on the global production of ocean-bound plastics and their usage.
-
The high availability of ocean-bound plastics in Europe, North America and the Asia-Pacific region, is expected to dominate the market during the forecast period.
-
The increase in the number of organizations and companies that are investing in ocean-bound plastic solutions is expected to drive the growth of the market.
-
A stable political and economic environment is expected to drive the growth of the market.
-
The market will remain competitive in terms of product innovation and pricing.
Market Size & Forecast
Report Attribute/Metric | Details |
Market Size 2023 | USD 1.38 billion |
Market Size 2024 | USD 1.42 billion |
Market Size 2032 | USD 1.88 billion |
Compound Annual Growth Rate (CAGR) | 3.50% (2024-2032) |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Resin Type, End-user, and Region |
Geographies Covered | North America, Europe, Asia Pacific, Latin America, and MEA |
Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
Key Companies Profiled | SUEZ (France), Veolia (France), B&B Plastics Inc. (US), Oceanworks (US), Jayplas (UK), Unifi, Inc. (US), KW Plastics (US), and Plastipak Holdings, Inc. (US) |
Key Market Opportunities | Increasing use of recycled plastic in packaging industry |
Key Market Dynamics | Negative environmental impact of plastics disposal |
Major Players
Ocean Bound Plastics Resin Market Segmentation
Ocean Bound Plastics Resin Type Outlook (USD Billion, 2019-2030)
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Ocean Bound Plastics End-User Outlook (USD Billion, 2019-2030)
Packaging
Building & Construction
Electronics
Automotive
Others
Ocean Bound Plastics Regional Outlook (USD Billion, 2019-2030)
North America Outlook (USD Billion, 2019-2030)
North America Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
North America Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
US Outlook (USD Billion, 2019-2030)
US Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
US Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Canada Outlook (USD Billion, 2019-2030)
Canada Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Canada Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Europe Outlook (USD Billion, 2019-2030)
Europe Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Europe Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Germany Outlook (USD Billion, 2019-2030)
Germany Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Germany Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Russia Outlook (USD Billion, 2019-2030)
Russia Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Russia Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
France Outlook (USD Billion, 2019-2030)
France Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
France Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
UK Outlook (USD Billion, 2019-2030)
UK Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
UK Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Italy Outlook (USD Billion, 2019-2030)
Italy Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Italy Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Spain Outlook (USD Billion, 2019-2030)
Spain Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Spain Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Rest Of Europe Outlook (USD Billion, 2019-2030)
Rest Of Europe Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Rest of Europe Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Asia-Pacific Outlook (USD Billion, 2019-2030)
Asia-Pacific Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Asia-Pacific Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
China Outlook (USD Billion, 2019-2030)
China Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
China Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Japan Outlook (USD Billion, 2019-2030)
Japan Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Japan Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
India Outlook (USD Billion, 2019-2030)
India Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
India Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
South Korea Outlook (USD Billion, 2019-2030)
South Korea Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
South Korea Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Rest of Asia-Pacific Outlook (USD Billion, 2019-2030)
Rest of Asia-Pacific Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Rest of Asia-Pacific Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Middle East & Africa Outlook (USD Billion, 2019-2030)
Middle East & Africa Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Middle East & Africa Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
South Africa Outlook (USD Billion, 2019-2030)
South Africa Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
South Africa Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
GCC Countries Outlook (USD Billion, 2019-2030)
GCC Countries Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
GCC countries Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Latin America Outlook (USD Billion, 2019-2030)
Latin America Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Latin America Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Brazil Outlook (USD Billion, 2019-2030)
Brazil Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Brazil Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Mexico Outlook (USD Billion, 2019-2030)
Mexico Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Mexico Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Argentina Outlook (USD Billion, 2019-2030)
Argentina Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Argentina Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Rest of Latin America (USD Billion, 2019-2030)
Rest of Latin America Ocean Bound Plastics by Resin Type
Polyethylene Terephthalate (PET)
Polyethylene
Polypropylene
Others
Rest of Latin America Ocean Bound Plastics by End-User
Packaging
Building & Construction
Electronics
Automotive
Others
Leave a Comment