The tailored material offers a property profile that meets the rigorous demands of medical technology professionals, said Covestro’s Emily Shaffer, Americas healthcare marketing manager, Engineering Plastics. By harnessing its global resources, Covestro is able to provide its medical-grade polycarbonates wherever they are needed all over the world, she added. "This global availability, combined with our robust portfolio and technical expertise, is why we’ve been a supplier of choice to the healthcare industry for more than 50 years."

Covestro recently announced the development of an exceptionally durable grade of polycarbonate suited for medical applications. Makrolon 3638 imparts toughness to devices ranging from drug-delivery systems and wearable devices to single-use products such that they can withstand everyday use while maintaining structural integrity.

Global Market Insights Inc. 4 North Main Street, Selbyville, Delaware 19975 USA Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: sales@gminsights.com

Recycled Thermoplastic Market size valued at USD 61.7 billion in 2022 and is anticipated to expand at more than 10% CAGR from 2023 to 2032. The expansion of construction activities will influence the market development.

Growing concerns associated with poor quality of recycled plastics in food packaging and the consequent risk of contamination may hamper the recycled thermoplastic market outlook. Using recycled materials in food packaging has gained significant traction, however, necessitates adherence to certain environmental and health requirements. Since recycled thermoplastic comes from plastic waste, it needs adequate treatment to ensure food safety. The rising prevalence of foodborne illnesses and increasing count of product recalls in the food sector due to microbial contamination could restrain industry growth.

The rapidly expanding electrical and electronics sector across the world will complement the recycled thermoplastic market outlook. Electronics production is a relatively complex process and requires advanced designs as well as technological intervention to cater to the growing demand for next-generation devices. Thermoplastics have emerged as a promising tool that aid electronic manufacturers to keep up with the increasing need for sophistication. Thermoplastics offer exceptional durability, corrosion resistance, and the ability to withstand high temperatures.

Asia Pacific recycled thermoplastic market size is poised to surpass USD 75.5 billion by 2032. APAC is expected to emerge as a prominent hotspot for recycled thermoplastics owing to massive volumes of plastic consumption in countries such as China, and India. According to the China National Resources Recycling Association, China produced approximately 60 million tonnes of plastic waste in 2020, of which only 16 million tonnes is recycled. Furthermore, as China is one of the largest plastic consumers in the world, it necessitates the rapid penetration of recycled thermoplastics to counter the growing environmental concerns.

Due to rapid urbanization and the surging disposable incomes, the demand for consumer electronics has increased dynamically in the recent past, compelling thermoplastic manufacturers to become more environmentally sound, further influencing the adoption of effective recycling systems.

Shaffer also noted that the material can enable circular business models by supporting closed- and open-loop recycling. It can also contribute to a lower carbon footprint with the possibility for attributed bio-circular content.

Home > Chemicals & Materials > Polymers > Industrial Polymers > Recycled Thermoplastic Market

Looking for more? Our expert team of researchers can create market analysis reports for any of your needs.

The COVID-19 crisis had a significant impact on the recycled thermoplastic market with the sudden drop in demand across several end-user industries owing to the temporary shutdown of production units. The demand for thermoplastics dropped notably across the automotive, aerospace, and construction sectors. However, the need for novel thermoplastic polyethylene gloves made using TPEs increased dramatically during the pandemic to cater to applications in medical and food handling. The growing emphasis on the prevention of contamination and the spread of infectious diseases also prompted several healthcare and food companies to ramp up the use of disposable gloves to ensure adequate safety.

Recycled thermoplastic market from injection molding technology is slated to register 10.7% growth rate between 2023 and 2032. The surging adoption of this technology can be attributed to the growing environmental concerns associated with large volumes of thermoplastic waste. Injection molding is a widely deployed repeatable process that allows manufacturers to produce large volumes of identical plastic parts featuring high tolerances at a lower per-part cost. Injection-molded plastics offer numerous benefits including high reliability, reusability, efficiency, and compatibility for an array of materials and colors. The advent of additive manufacturing coupled with ongoing advancements in robotics and automation will spur injection molding capabilities, pushing the market expansion.

Recycled thermoplastic market from the biodegradable type segment is projected to exhibit over 10.5% CAGR from 2023 to 2032. The growing concerns associated with the increasing plastic pollution, environmental adversities, and climate changes have prompted several public and private efforts to encourage the switch towards biodegradable plastics. Extensive R&D in the field of biodegradable thermoplastic starches is likely to foster lucrative scope for industry development. For instance, in January 2023, a team of researchers from the University of Konstanz, Germany developed a novel biodegradable plastic mimicking the thermoplastic properties of HDPE.