PET Plastic Bottles Recycling Market Scope
Over the past few decades, due to increasing environmental concerns based on growing plastic disposal has encouraged the demand for environmentally viable plastic recycling applications especially PET plastic bottles recycling, which refers to the process of plastic waste management, recovery or recycling and turning the same waste into useful products. It involves several operations such as; waste collection, sorting, shedding, molding, and many others. Growing awareness about the negative impact associated with plastic disposal, increasing government reimburse and many other factors will ultimately encourage the use of PET plastic bottles recycling applications.
The market study is being classified by Type (Chemical Recycling and Mechanical Recycling), by Application (Food and Non-Food Packaging, Building Materials, Textile Fiber / Clothing, Landscaping/Street Furniture and Other) and major geographies with country level break-up. According to AMA, the Global PET Plastic Bottles Recycling market is expected to see growth rate of 5.32% and may see market size of USD6246.89 Million by 2024.
The Manufacturers having a strong hold in the market are Centriforce Products, Avangard Innovative, Ultrepet, Dennison Plastics, and Polychem. Research Analyst at AMA predicts that United States and European Manufacturers will contribute to the maximum growth of Global PET Plastic Bottles Recycling market throughout the predicted period.
Centriforce Products Ltd (United Kingdom), Avangard Innovative (United States), Ultrepet LLC (United States), Dennison Plastics Ltd (United Kingdom), Polychem Corporation (United States), Clean Tech Europe Limited (United Kingdom), Complete Recycling (United States), Eco2 Plastics Inc. (United States), Worldwide Recycler Services LLC (United States) and PlasticsEurope (Belgium) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Clear Path Recycling (United States), Mohawk Industries Inc (United States), CarbonLite Industries LLC (United States), Envision Plastics Industries LLC (United States) and Advanced Environmental Recycling (United States).
AdvanceMarketAnalytics has segmented the market of Global PET Plastic Bottles Recycling market by Type, Application and Region.
On the basis of geography, the market of PET Plastic Bottles Recycling has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2018. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
- Introduction to Simplified and Economically Viable PET Bottle Recycling
- Growing Adoption of Highly Flexible and Resistant Recycled PET Bottles
- Upsurging Environmental Concerns Leading to Increased Demand for PET Plastic Bottles Recycling
- Growing Awareness about Plastic Disposal Across the Globe
- Adverse Effects Associated with the Open Disposal of Plastic and Numerous Regulations Favoring Plastic Recycling
- Highly Escalating Participation of Government
- Comparatively Lower Demand from Developing and Under Developed Nations
- Higher Investments and Operational Complexities Associated with PET Plastic Bottles Recycling
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