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 Plastic Granules Market Share Contributing Largest

Recycled Plastic Granules Market
Recycled Plastic Granules Market 


The global Recycled Plastic Granules Market is estimated to be valued at US$ 2.96 Bn in 2022 and is expected to exhibit a CAGR of 3.3% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview
Recycled plastic granules are processed from post-consumer and post-industrial plastic waste. They offer an eco-friendly alternative to virgin plastic with cost competitiveness. Recycled plastic granules help reduce plastic waste and GHG emissions.

Market key trends
One of the prominent trends in the recycled plastic granules market is the growing emphasis on sustainable plastics. With the rising concern over plastic pollution and greenhouse gas emissions from virgin plastics, there is a increasing focus on adopting circular economy approaches and promoting sustainable alternatives such as recycled plastics. Several regulations have been introduced globally to mandate the use of recycled content in packaging and other plastic products. This is expected to drive significant growth in the demand for recycled plastic granules over the forecast period.

Segment Analysis
The global recycled plastic granules market is dominated by post-industrial recycled granules segment that accounts for over 60% market share in 2021. This is because post-industrial plastic waste generated from manufacturing and industrial operations is more organized and easy to collect compared to post-consumer plastic waste. The post-industrial recycled granules segment is expected to continue dominating the market during the forecast period owing to steady supply of waste from manufacturing units.

Key Takeaways
The global recycled plastic granules market size was valued at US$ 2.96 Bn in 2021 and is expected to witness high growth, exhibiting a CAGR of 3.3% over the forecast period from 2022 to 2030, due to increasing environmental concerns and stringent regulations against dumping of plastic waste.

The recycled plastic granules market is dominated by North America region that accounts for around 35% of the global market share in 2021. This is due to high plastic waste collection and recycling rates in US and Canada. However, Asia Pacific region is expected to witness fastest growth during the forecast period owing to rapid industrialization and increasing investments in plastic recycling facilities in major economies like China and India.

Key players operating in the recycled plastic granules market are Polyclean Technologies Inc., Goverdhan Polygran Pvt. Ltd., Nidhi Enterprises, S.S.B Polymers & S.S.B Enterprises, The Shakti Plastic Industries, Dar AI Khaleej Plastics, GRM Polymer, Jai Shree Balaji Plastic, Kamal Polyplast, Mittal Polymers, Nahata Plastics, Navkar Industries, Amruta Plastic, Raza Traders, Vanshika Plastic Industry, Wiwat Plastic, and Xiamen Keyuan Plastic Co., Ltd. The major players are focusing on expansion of production and supply chain facilities to cater to increasing demand for recycled plastic products globally.

Read More:

https://www.dailyprbulletin.com/recycled-plastic-granules-market-driving-sustainability-trends/

 

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Future Prospects of Global Laboratory Proficiency Testing Market

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