Recycled PET Market 2019 Industry Business Opportunities by Major Market Players are Ecostar Plastics, Libolon, Arora Fibres, Krones Group, Equipolymers

The global market for global recycled PET market is expected to grow at ~7.02% CAGR.

Key Players

Some of the key players in the global recycled PET market includes Libolon (Taiwan), Ecostar Plastics (Placon) (U.S.), Zhejiang Anshun Pettechs Fibre Co. Ltd (Taiwan), Polyquest (U.S.), Haiyan Haili Green Fiber Co., Ltd. (China), Arora Fibres (India), Fromm India (India), Phoenix Technologies Ltd (U.S.), Equipolymers (Germany), Krones Group (Germany )and Foss Manufacturing Company (U.S.)

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Market Scenario:

The demand for plastics is growing from numerous industries such as packaging, pharmaceutical, beverage, textile fiber, consumer goods, and construction, which is expected to propel the growth prospects of the recycled plastics market across the globe. 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. Among all types of plastic resins, polyethylene terephthalate (PET) is most widely 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.

PET is the most recycled plastic packaging material. The PET trade association stated that 1.8 million tons of PET bottles and containers were collected for recycling across Europe in 2015, with an increase of 5% compared to the previous year. It is expected that the demand for plastic recycling plants in Europe may increase significantly in the years to come. As of now, Europe has almost 1,200 active plastic sorting and recycling plants. In Spain, there isn’t any consumer PET return policy like in the northern EU states and the regulating agencies yet to implement such policies. Most of the plastics end in landfills making the recycling rate low. Whereas, Tax reliefs, and financial assistance from governments in China, India, Indonesia, and Thailand have been driving the recycling of bottles and containers market, which has further prompted the industry development in the Asia Pacific. Additionally, developed economies of the region such as Japan, South Korea, and Singapore have been widely exporting their post-consumer PET waste to China, which stands as a major recycling center across the globe.

Scope of the report

This study provides an overview of the global recycled PET market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global recycled PET market by its process, application, and region.

By Process –
Chemical
Mechanical
By Application
Beverages
Personal Care
Pharmaceutical
Consumer goods
Others
By Region
North America
Asia Pacific
Europe
Rest of the World
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Market Research Insights:

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 bottles are landfilled, it will slowly decompose and unleash gas, a gas which is over 21 times stronger than carbon dioxide. Moreover, 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.

Factors such as rising disposable incomes and government actions to improve drinking water conditions are likely to drive demand for bottled water across markets. Moreover, excellent strength and durability are expected to drive segment growth over the forecast period. The base of food containers and some non-food containers give structural strength, which aids in extending storage time of goods. These products also offer lightness & flexibility when used for packaging purposes.

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