Pet Plastic Recycling Industry Market | Global Pet Bottle Recycling Market Overview by Size, Share, Trends, Growth, Future Plans and Regional Forecast by 2023
Jan 20, 2020 (AB Digital via COMTEX) —
Pet Bottle Recycling Market Synopsis
Rising environmental concerns have led to the development of recycling technologies to treat plastic waste. It is supposed to drive the growth of the pet bottle recycling market over the forecast period 2018 to 2023. The valuation of the global market is estimated to grow from USD 4,381.3 Mn in 2017 to USD 5,933.6 Mn by 2023-end, at a CAGR of 5.28%.
Rising awareness about the degrading effect of plastic on the ecosystem is prognosticated to catalyze the growth of the market in the foreseeable future. Moreover, rising petroleum prices are supposed to generate demand for the recycling of pet bottles in the near future. These factors ensure that the future trajectory of the pet bottle recycling market will remain lucrative in the foreseeable future. However, lack of cost-effective infrastructure to support the need for recycling might pose challenge to the expansion of the pet bottle recycling market in the foreseeable future.
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Indorama Ventures CarbonLITE Industries
Public Company Limited
Plastipak Holdings, Inc.
PFR Nord GmbH
Clear Path Recycling, and PolyQuest
are few of the key players of the global pet bottle recycling market.
On the basis of recycling process, the pet plastic recycling industry has been segmented into chemical and mechanical. The sub-segments of the chemical segment are hydrolysis, methanolysis, glycolysis, and other processes. Among the two segments, the mechanical segment accounts for approximately 67.92% share of the market. It is forecasted to hold its dominant position over the assessment period. This segment is also anticipated to register the highest CAGR across the review period.
Based on application, the pet bottle recycling market has been segmented into personal care, consumer goods, beverages, pharmaceuticals, and others. The beverages segment is likely to exhibit the highest CAGR of 5.99% during the projection period. It is also anticipated to hold the pole position during the evaluation period.
Pet Plastic Recycling Industry Regional Analysis
The regional assessment of the global pet bottle recycling market covered in this MRFR report spans across four major regions, that are – Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). These regional segments are also assessed on a country-level basis. Among these, Americas are projected to reach a valuation of USD 1757.3 Mn by the end of the review period. At present, the regional segment accounts for around 30% market share and is anticipated to retain its pole position over the evaluation period. Adoption of advanced recycling technologies in the region is anticipated to drive the growth of the pet bottle recycling market.
Europe, placed at the second spot in terms of revenue, is prognosticated to witness a positive growth in pet bottle recycling. The implementation of strict regulation promoting recycling of plastic bottles is expected to act as a growth catalyst for market growth. Also, awareness campaigns by governments for promoting recycling is expected to expand the pet bottle recycling market in the foreseeable future.
Asia Pacific is prognosticated to mark 6.59% CAGR during the forecast period. Rapidly developing economy of the region has led to urbanization and industrialization. China is likely to play a key role in market growth due to high rate of production of plastic waste. The government is prognosticated to increase investments in recycling technologies. It is presumed to boost growth rate of the pet bottle recycling market in the forthcoming years.
The Middle East & Africa, as for now, market is at a nascent stage. It exhibits considerable growth potential, which is why the regional market is expected to attract huge investments in the coming years. Also, the rising plastic consumption in the region owing to rapid urbanization is projected to provide impetus to market proliferation.
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Table Of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 15
2.2 Scope Of The Study 15
2.3 List Of Assumptions 16
2.4 Market Structure 16
2.5 Key Takeaways 17
2.6 Macro Factor Indicators Analysis 17
3 Research Methodology
3.1 Research Process 19
3.2 Primary Research 20
3.3 Secondary Research 21
3.4 Market Size Estimation 22
3.5 Forecast Model 22
List Of Tables
TABLE 1 MARKET SYNOPSIS 13
TABLE 2 LIST OF ASSUMPTIONS 16
TABLE 3 MACRO INDICATORS INFLUENCING THE GLOBAL PET BOTTLE RECYCLING MARKET FOR TOP 5 COUNTRIES 17
TABLE 4 GLOBAL PET BOTTLE RECYCLING MARKET, BY RECYCLING PROCESS, 2016–2023 (USD MILLION) 36
TABLE 5 GLOBAL PET BOTTLE RECYCLING MARKET, BY APPLICATION, 2016–2023 (USD MILLION) 39
TABLE 6 GLOBAL PET BOTTLE RECYCLING MARKET, BY REGION, 2016-2023 (USD MILLION) 41
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