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Pet Bottle Recycling Market By Recycling Process (Chemical, Mechanical), Application (Beverages, Personal Care, Pharmaceutical, Consumer Goods, And Others), And Region - Global Forecast To 2023
Market analysis
PET bottle recycling is one of the most important processes of waste plastic recovery which means turning the waste products into useful products. It mainly includes the processes of sorting, waste collection, molding and shredding. The fundamental crude material for plastics being oil and natural gas, exhausting supplies of petroleum makes it monetarily reasonable to reuse plastics than process them right from the scratch. This combined with the rising awareness level about the effect of plastic disposal on nature cultivate the development of the global PET bottle recycling market. Also, the restrictions imposed on the import of the plastic waste by the emerging nations is expected to boost the market growth. However, the lack of awareness about the necessity of waste management in different Asia Pacific regions like Indonesia, Cambodia and India is expected to hamper the growth of the global market. The global PET bottle recycling market is estimated to reach the value of USD 5,933.6 Mn by the end of the year 2023 by growing at a CAGR of 5.28%.
Market segmentation
The global PET bottle recycling market is classified on the basis of its application and recycling process. The PET bottle recycling finds its application in major industries including consumer goods, personal care, beverages, pharmaceuticals, and others. Based on its recycling process, the global PET bottle recycling market is bifurcated into chemical and mechanical.
Regional analysis
Geographically, the global PET bottle recycling market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major players
Krones Ag, Plastipak Holdings, Inc., UltrePET, LLC, Phoenix Technologies, Indorama Ventures Public Company Limited, CarbonLITE Industries, Clear Path Recycling, Schoeller Group, PFR Nord GmbH, and PolyQuest are some of the major players in the global PET bottle recycling market.
Market analysis
PET bottle recycling is one of the most important processes of waste plastic recovery which means turning the waste products into useful products. It mainly includes the processes of sorting, waste collection, molding and shredding. The fundamental crude material for plastics being oil and natural gas, exhausting supplies of petroleum makes it monetarily reasonable to reuse plastics than process them right from the scratch. This combined with the rising awareness level about the effect of plastic disposal on nature cultivate the development of the global PET bottle recycling market. Also, the restrictions imposed on the import of the plastic waste by the emerging nations is expected to boost the market growth. However, the lack of awareness about the necessity of waste management in different Asia Pacific regions like Indonesia, Cambodia and India is expected to hamper the growth of the global market. The global PET bottle recycling market is estimated to reach the value of USD 5,933.6 Mn by the end of the year 2023 by growing at a CAGR of 5.28%.
Market segmentation
The global PET bottle recycling market is classified on the basis of its application and recycling process. The PET bottle recycling finds its application in major industries including consumer goods, personal care, beverages, pharmaceuticals, and others. Based on its recycling process, the global PET bottle recycling market is bifurcated into chemical and mechanical.
Regional analysis
Geographically, the global PET bottle recycling market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major players
Krones Ag, Plastipak Holdings, Inc., UltrePET, LLC, Phoenix Technologies, Indorama Ventures Public Company Limited, CarbonLITE Industries, Clear Path Recycling, Schoeller Group, PFR Nord GmbH, and PolyQuest are some of the major players in the global PET bottle recycling market.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
