Ocean Bound Plastic Market Report: Trends, Forecast and Competitive Analysis to 2030

Ocean Bound Plastic Trends and Forecast

The future of the global ocean bound plastic market looks promising with opportunities in the packaging, building & construction, electronics, and automotive markets. The global ocean bound plastic market is expected to reach an estimated $1.5 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are growing demand for recycled plastic and sustainable practices, increasing awareness and initiatives to combat marine pollution, and rising government regulations promoting reduction of ocean-bound plastic.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Ocean Bound Plastic by Segment

The study includes a forecast for the global ocean bound plastic by resin type, application, and region.

Ocean Bound Plastic Market by Resin Type [Shipment Analysis by Value from 2018 to 2030]:

• Polyethylene Terephthalate (PET)
• Polyethylene
• Polypropylene
• Others

Ocean Bound Plastic Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Packaging
• Building & Construction
• Electronics
• Automotive
• Others

Ocean Bound Plastic Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Ocean Bound Plastic Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies ocean bound plastic companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the ocean bound plastic companies profiled in this report include-

• SUEZ
• Veolia
• B&B Plastics
• Oceanworks
• Jayplas
• Unifi
• KW Plastics

Ocean Bound Plastic Market Insights

Lucintel forecasts that polyethylene terephthalate will remain the largest segment over the forecast period due to growing use of plastics in construction and packaging.

Within this market, packaging is expected to witness the highest growth due to rising preference for packaging made from recycled plastic.

APAC will remain the largest region over the forecast period due to growing use of ocean bound plastic from various end-use sectors, including the automotive and packaging industries of the region.

Features of the Global Ocean Bound Plastic Market

Market Size Estimates: Ocean bound plastic market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Ocean bound plastic market size by resin type, application, and region in terms of value ($B).

Regional Analysis: Ocean bound plastic market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different resin types, applications, and regions for the ocean bound plastic market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the ocean bound plastic market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the ocean bound plastic market size?

Answer: The global ocean bound plastic market is expected to reach an estimated $1.5 billion by 2030.

Q2. What is the growth forecast for ocean bound plastic market?

Answer: The global ocean bound plastic market is expected to grow with a CAGR of 3.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the ocean bound plastic market?

Answer: The major drivers for this market are growing demand for recycled plastic and sustainable practices, increasing awareness and initiatives to combat marine pollution, and rising government regulations promoting reduction of ocean-bound plastic.

Q4. What are the major segments for ocean bound plastic market?

Answer: The future of the ocean bound plastic market looks promising with opportunities in the packaging, building & construction, electronics, and automotive markets.

Q5. Who are the key ocean bound plastic market companies?

Answer: Some of the key ocean bound plastic companies are as follows:

• SUEZ
• Veolia
• B&B Plastics
• Oceanworks
• Jayplas
• Unifi
• KW Plastics

Q6. Which ocean bound plastic market segment will be the largest in future?

Answer: Lucintel forecasts that polyethylene terephthalate will remain the largest segment over the forecast period due to growing use of plastics in construction and packaging.

Q7. In ocean bound plastic market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to growing use of ocean bound plastic from various end-use sectors, including the automotive and packaging industries of the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the ocean bound plastic market by resin type (polyethylene terephthalate (PET), polyethylene, polypropylene, and others), application (packaging, building & construction, electronics, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?