Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Acc...
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Recycled Plastics Market Overview, Analysis, Outlook and Key Players

Recycled plastics are made from scrap or waste plastic and are used to make storage containers, concrete, and PVC windows for the building and construction, packaging, automotive, electrical and electronics, and textile industries. The goal of recycling plastics is to reduce pollution that occurs during the production of new or virgin plastics. The plastic recycling process aids in the resolution of issues relating to the disposal of plastics. According to Plastic Oceans International, more than 300 million tonnes of plastic are produced each year, resulting in a huge demand for plastic reuse, recovery, and recycling. As a result, the market for recycled plastics is predicted to increase significantly over the forecast period.

Market Outlook

Over the projection period, demand for recycled plastics is likely to be driven by rising worries about disposing of virgin plastic and rising knowledge about energy conservation (2019-2027).

Furthermore, rising recycled plastics utilisation in different end-use sectors such as automotive and building & construction, as well as these industries' rapid growth, is predicted to raise demand for recycled plastics products, resulting in market growth throughout the forecast period.

PET (polyethylene terephthalate) had the biggest market share in the global recycled plastics market in 2018, according to product category. The PET segment is expected to grow due to the ease of collecting raw materials in the form of plastic bottles and its easy recyclability.

 

Recycled Plastics Market
Recycled Plastics Market

Key Players

B&B Plastics, Veolia, Green Line Polymers, Clear Path Recycling, B. Schoenberg & Co., Jayplas, Suez, Custom Polymers, Plastipak Holdings, and KW Plastics are among the major players in the global recycled plastics market.

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