Recycled PET Market at 7.02% CAGR | Segmentation By Process, Application and Region - Research Report With Detail Analysis and Forecast To 2023

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

Global Recycled PET Market Information: by Process (Chemical, Mechanical), Application (Food & Beverages, Personal Care, Pharmaceutical, Consumer goods, and others), and region- Forecast To 2023

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

Market Highlights

Recycled PET includes two methods as the mechanical recycling method and chemical recycling. The mechanical recycling is majorly preferred. The goal of recycling plastics is to reduce high rates of plastic pollution with less emphasis on virgin materials to produce new plastic products by conserving energy. The post customer recycled PET industry started as a result of environmental pressure to boost waste management. The recycling process helps to reduce the land pollution taking place which is done by converting the bottles into lower or same grade type. Majority of plastics are semi-permeable and absorb particles of food or beverage contained. Removal of wastage from these bottles is a very tedious task, which needs to be done cautiously as any excessive heating may damage the plastic composition. Most recycled plastics are mainly used for making low-grade products. With recent technological advancement in Recycled PET, it is now possible to close the loop, by recycling bottles and containers back to the same.

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PET is the mostly recycled plastic material among the plastic bottles recycling market followed by HDPE and PP material. For the ease of study, the recycled PET market is divided among various geographies such as North America, Europe, Asia Pacific, and the Middle East and Africa. In the U.K, over the past few years, a significant progress was observed in waste and resource management in the region. Local authorities, who are responsible for covering all household, commercial and industrial waste, have reduced the amount of waste sent to landfill. The progress has been achieved due to the range of policies imposed.

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

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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The report for global recycled PET market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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