Chemicals Heavy Industry Materials News

PET Bottle Recycling Market 2019| Worldwide Overview By Size, Share, Trends, Growth Factors and Leading Players With Detailed Analysis of Industry Structure

Press Release

PET Bottle Recycling Market Research Report 2019 published By Market Research Future, provides information on Global PET Bottle Recycling Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Recycling Process (Chemical, Mechanical), Application (Beverages, Personal Care, Pharmaceutical, Consumer Goods, And Others), And Region – Global Forecast To 2023

The PET bottle recycling process involves several steps and is a growing activity primarily due to growing environmental concern and rising petroleum prices. The report on the global PET bottle recycling market includes vital information such as market value, growth rates, and various factors influencing the market. With 2017 as the base year, the market value was recorded at USD 4,381.3 Mn. Estimations and calculations of market growth suggest a CAGE of 5.28%, which projects an upward trend likely to result in a market value of USD 5,933.6 Mn by the end of 2023.

Plastic use has grown significantly, and PET bottles are used significantly and in high volumes in packaging applications. High volumes of plastic which are highly resistant to physical and chemical degradation have to be recycled to refrain from harming the environment. PET bottles are commonly used in beverages and other consumables packaging such as for mineral water, peanut butter, cooking oils, etc. The large scale of plastic consumption in the packaging sector is highly encouraging of PET bottle recycling so as to increase production efficiency and reduce the environmental impact of the plastics industry. Moreover, in an increasingly environmentally conscious global scenario, governments across the globe are providing support and initiatives in an effort to encourage PET bottle recycling. Non-recycled plastic has terrible effects on the soil and water, causing pollution. As a result, government bodies are targeting increasing plastic recycling. For example, the European Commission has announced a strategy to reduce plastic pollution and ensure the recyclability of all plastic in Europe by 2030. Similar initiatives by other governments are expected to encourage the growth of the global PET bottle recycling market during the review period.

Get Sample Report with Complete TOC @ https://www.marketresearchfuture.com/sample_request/2865

The various challenges that the global PET bottle recycling market faces include a lack of cost-efficient infrastructure, lack of appropriate processing units, and a general lack of public awareness regarding recycling. At present, more plastic is disposed of than recycled which indicates a strong lack of awareness. Examples have been included in the report. Meanwhile, the market is rife with opportunity as several developments are being carried out to design recycle-friendly PET bottles to encourage PET bottle recycling. Initiatives toward increasing awareness and the active participation on the part of manufacturers to encourage recycling via redesigned PET bottles is expected to present the PET bottle recycling market with new directions for growth in the foreseeable future.

The global PET bottle recycling market’s various key components have been segmented in the report on the basis of the recycling process, application, and region. Recycling processes used for PET bottle recycling are primarily segmented into chemical and mechanical. Chemicals recycling process of PET bottle is further segmented to include hydrolysis, glycolysis, methanolysis, and other processes. Between the two key segments, the mechanical segment has captured 67.92% share of the global market and is also projected to grow at the highest CAGR during the forecast period. The mechanical process uses a simple process to collect, sort, clean and then reclaim the plastic in a new form which is then used for the manufacturing of new products.

Applications have been segmented to include personal care, pharmaceuticals, consumer goods, beverages, and others. Beverages, having the highest consumption pattern for PET bottles captured the largest share in the market and is expected to retain its dominance while growing at the highest CAGR of 5.99% during the review period due to consistent demand for PET bottles for this application.

Regional Analysis

The Americas PET bottle recycling market acquired a majority share of the market and is closely followed by Europe and the Asia Pacific. These regions are nearly neck and neck in terms of market value. The Americas accounted for a market share of over 30% and will likely reach a market value of USD 1757.3 Mn by the end of the review period. The regions high consumption of PET plastics combined with the presence of advanced recycling technology, and increasing awareness regarding recycling is expected to drive the market. The region’s governments are also imposing various regulation related to waste management which is driving the growth of the Americas PET bottle recycling market.

Europe, which displays a similar growth pattern to that of the Americas market holds the second most significant position in terms of market size. The increasing volume of recyclable plastic waste and the increasingly stringent imposition of regulations with regards to waste management are expected to encourage market growth. Moreover, various European government bodies in this region are actively increasing awareness regarding recycling amongst consumers. Implementation of advanced recycling technology is expected to open up opportunities for growth.

The Asia Pacific is the most rapidly growing market with the highest CAGR of 6.59% during the assessment period. Swift economic development and the presence of a huge and growing population combined with increasing generation of plastic waste has resulted in various policies and regulations in the interest of environmental protection and effective waste management. China is a global giant in terms of plastic waste generation and has been established as a leader in scrap consumption. Gradually increasing awareness and demand for effective waste management solutions is expected to bolster and propel the APAC PET bottle recycling market.

The Middle East and Africa is a nascent regional PET bottle recycling market with immense potential for growth. The rapid growth of emerging economies in the Middle East is expected to result in increasing demand for PET bottle recycling as plastic consumption grows in the region. Promising growth is expected from, the region during the assessment period.

Early Diners Are Offered Free Customization- Up to 20%

Get Attractive Discount @ https://www.marketresearchfuture.com/check-discount/2865

Global PET Bottle Recycling Market- Competitive Landscape

Market Research Future includes following key players for global PET Bottle Recycling market research study: Phoenix Technologies, Clear Path Recycling, Schoeller Group, PFR Nord GmbH, PolyQuest.

The market share analysis is derived by considering various factors such as financial position, segmental R&D investment, product innovations, corporate strength, product portfolio, strategy analysis, and, key innovations in the market among other factors. The major players holding prominent position in the Market Indorama Ventures Public Company Limited, CarbonLITE Industries, Krones Ag, Plastipak Holdings, Inc., UltrePET, LLC, among others.

According to MRFR analysis, Indorama Ventures Public Company Limited is currently leading the global PET Bottle recycling market with 38% market share. It is one of the leading PET manufacturers across the globe. It operates through three business segments which include feedstock, PET, and fibers. It offers feedstock, PET, packaging, fibers, and recycled products. It is one of the largest polyesters fiber producers in Thailand. It focuses on the expansion of its presence into various potential markets such as the US and Europe through acquisitions with a focus to become a global PET manufacturer.

CarbonLITE Industries holds the Second largest market share of the market with 28.0%. It is a wholly owned subsidiary of HPC Industries, LLC. It is a major producer of food-grade post-consumer recycled PET bottles in the US. The company specializes in the recycling of used plastic bottles into bottle-grade PET resin flakes and pellets and largely caters to the food & beverage industry. It focused on increasing revenue through collaborations and partnerships with plastic producing industries and government authorities.

Krones Ag holds the third largest market with the market share of 13% of the total market in PET Bottle recycling market. It is a wholly owned subsidiary of Krones Group. Krones AG is engaged in the development and manufacturing of machines, complete lines for recycled bottles, cans and related packaging, process technology, and intralogistics. The company operates primarily from the US and has its reach in various other countries such as Germany, China, India, South Africa, UAE, and the UK. It has a major production facility in Debrecen, Hungary.

Plastipak Holdings holds the market share of 10 % of the global market. It is one of the leaders in the rigid plastic packaging and recycling industries with 50 years of market experience. It caters to various markets including aerosol, consumer cleaning, automotive, industrial & agricultural products, personal care, and alcoholic beverages among others. It has a global presence in North America, South America, Europe, Africa, and Asia. It operates through more than 60 production sites around the world and has four recycling centers in the UK, Luxembourg, Dundee, and France. mainly focuses on developing advanced innovative technology and superior products. It also focuses on improving its relationship with valuable customers, suppliers, and its business partners.

UltrePET, LLC (UltrePET) holds 7 % of the global market share. It is one of the leading providers of high-quality PET in pellet and flake form. It is the first ISO-certified PET recycler in the US. The company serves customers in the US and Canada. It recycles PET and other plastic resins and is one of the largest FDA-approved PET resin suppliers to the bottle and sheet markets in North America. It focuses on offering cost-effective solutions which lead to positive and long-term impact on the environment. It aims to produce a superior post-consumer recycled resin for FDA approved application at a cost-effective price.

Ask for your specific company profile and country level customization on reports.

Get More Information on PET Bottle Recycling Market Research Report – Global Forecast To 2023 @ https://www.marketresearchfuture.com/reports/pet-bottle-recycling-market-2865

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.