Recycled PET Market 2018 by Global Key Players: Libolon, Ecostar Plastics, Polyquest, Arora Fibres, Fromm India, Phoenix Technologies, Equipolymers, Krones Group

Market Research Future published a research report on “Recycled PET Market Research Report -Forecast To 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Synopsis:

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.

The concern for Recycled PET has escalated in the recent years. Over 90% of PET is consumed in food packaging with beverages forming almost 80% of the food packaging segment. Recycled-PET has properties to resist the growth of fungi, mold, and bacteria. Due to its versatile benefits, it is commonly used in packaging of food, beverage bottling, cosmetics, pharmaceuticals, and electronics. Since drinks and beverages are consumed mostly in residential houses, restaurants, entertainment venues, airports and other public places, the importance of organized collection and recycling of post-consumer PET bottles needs to be over emphasized.

Growing plastics recycling industry is driving the growth of the global PET recycling market. Growing use of bottles and polyester fiber is increasing the waste generated from these material, which, in turn, increasing the pressure to recycle these materials. This is further adding fuel to the market growth.

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Key Players:

The key players of the global PET recycling 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.)

Market Research Analysis:

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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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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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Market Research Future
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