Apr 26, 2018 (Heraldkeeper via COMTEX) — MarketResearchFuture.com added New Report Named “PET Bottle Recycling Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation By Process (Chemical, Mechanical), Application (Beverages, Personal Care, Pharmaceutical, Consumer Goods, And Others), And Region | Outlook to 2023″ to its Database.
Plastic is produced from non-renewable resources such as petroleum, without which we will experience complications in life. Thus, the cost of plastic material depends on the oil prices. Growing demand for plastics from numerous industries such as packaging, pharmaceutical, beverage, and construction is expected to propel the growth of the recycled plastics market across the globe.
The demand for plastics is growing from numerous industries such as packaging, pharmaceutical, beverage, Textile fibre, consumer goods, and construction is expected to propel the growth prospects of the recycled plastics market across the globe.
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Plastic has become one of the essential components of our life without which there will be some complications to experience, but it is produced from non-renewable resources such as petroleum. Thus the cost of plastic material depends on the oil prices. Manufacturing, transporting and putting off municipal solid wastes like plastic ends up in gas emissions that lure heat within the planet’s atmosphere. These gases are released at every stage of a product’s life cycle, contributing to climate change. If the bottle is incinerated, it releases carbon dioxide as a by-product, which contributes to the increase in the rate of global warming. If the bottle is landfilled, it will slowly decompose and unleash gas, a gas which is twenty one times stronger than carbon dioxide. In addition, materials that are disposed of in landfills have to be replaced by new products manufactured from raw materials, and the extraction of raw materials requires fossil fuel combustion, which releases more carbon dioxide into the atmosphere and reduces a non-renewable resource.
Recycling plastic bottles also helps conserve natural resources, especially oil, which is a non-renewable natural resource available in restricted supply. PET can be recovered and recycled repeatedly by washing and remelting for use in new PET products or it can be chemically broken down into its constituent raw materials and then purified and converted into new PET.
Accrediting the colossal growth the PET Bottle Recycling market is witnessing currently and the potential the market is demonstrating to accrue pervasively further in the years to come; the Market Research Future has recently published a meticulous study report giving out the complete market insight up till 2023. According to which, continuing with the same trends the global PET Bottle Recycling market is projected to perceive an outstanding growth by 2023 registering a striking CAGR during the anticipated period (2017 – 2023).
Advanced Environmental Recycling Technologies, Inc. (U.S.), Avangard Innovative (U.S.), Phoenix Technologies International LLC (U.S.), UltrePET LLC (U.S.), Evergreen Plastics Ltd (U.S.), Complete Recycling (U.S.), ECO2 Plastics Inc (U.S.), Worldwide Recycler Services, LLC (U.S.) Kuusakoski Oy (Finland) andPlasticsEurope (Belgium) are some of the prominent players at the forefront of competition in the global PET Bottle Recycling market and are profiled in MRFR Analysis.
In 2016, approximately 6.2 billion pounds (2.81 million metric tonnes) of PET bottles were sold in the US. Just 1753 million pounds (795,000 tonnes) or 28.4% were collected for recycling.
The global market of PET Bottle Recycling is growing rapidly and focusing on scrap recycling. Such recycling system accounts for features such as it reuse, reduced waste and can again use in Organizations.
Among all types of plastic resins, polyethylene terephthalate (PET) is most used across various industry verticals. Globally, in 2015, around 26.2 million tons of PET is used in packing and 20.5 million tons is used in bottles only. The latest innovations in recycling technologies have made the plastic recycling process easier and more cost effective. The technologies include reliable detectors, sophisticated decision and recognition software that collectively enhance the productivity and accuracy of automatic sorting of plastics.
According to the information, with 31.3 percent share, Asia-Pacific dominated the global PET packaging market followed by North America with 23.1 percent and Western Europe with 19.6 percent in 2014. Driving factors like rising population, increase in urban cities across Asian countries and rising personal disposable income, Asia-pacific PET packaging market is envisioned to grow at a healthy rate in the near future.
According to the Environmental Protection Agency (EPA), the current PET bottle recycling rate results in an energy savings equivalent to that consumed by 165,000 U.S. households each year. If the national PET bottle recycling rate increased by just 25 percent, we would avoid the greenhouse gas emissions equivalent to 131 million gallons of gasoline.
PET Bottle Recycling Market – Competitive Analysis
PET Bottle Recycling Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
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PET Bottle Recycling Market – Segments
For the convenience of the report and enhanced understanding; The PET Bottle Recycling Market is segmented in to 3key dynamics
Segmentation By Process – Chemical, Mechanical
Segmentation By Application – Beverages, Personal Care, Pharmaceutical, Consumer goods, and others
Segmentation by Regions- Comprises regions – North America, Europe, APAC and Rest of the World.
PET Bottle Recycling Market – Regional Analysis
The recycling industry in Western Europe is dominated by countries such as Germany, U.K., Belgium, Sweden etc. Environmental awareness among consumers and stringent government regulations imposed are responsible for high recycling rates in the region. Various countries have implemented PET bottles returning policy including Germany, Austria, Estonia, Denmark, Netherlands, Norway, Sweden and Switzerland.
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