Global PET Plastic Recycling Market Overview:
One of the few polymers, PET, is used to make beverage bottles, which can be produced from them repeatedly in the same way. This allows for "cradle to cradle" packaging options and neatly completes the recycling loop. Similar to virgin PET, recycled PET (rPET) can be used to create a variety of new goods, including polyester staple fibre or filament used in clothing, bedding, carpeting, and automotive parts. It can also be used to create new PET packaging and bottles for both food and non-food products. Depending on the purpose, it is typically mixed in a virgin to recycled ratio.
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- Rising Awareness Related to the Hazards of Plastic Coupled With the Demand for Recycling Plastic is Catching Pace
- Rising Demand of PET Plastic Recycling from End-User Industry
- Stringent Rules and Regulation Made by the Government towards Banning the Plastic
- Comparatively Lower Demand from Developing and Under Developed Nations
- Highly Involved in Research and Development Activities
- Government Initiative and Incentives for PET Plastic Recycling
- Complex Process of Collection and Transport of PET Plastic Recycling
- Large Space Requirement for PET Plastic Recycling Plant
The market for PET Plastic Recycling is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share.
Some of the key players profiled in the report are Unilever (United Kingdom), CarbonLITE Industries (United States), Indorama Ventures (Thailand), Krones Ag (Germany), Plastipak Holdings, Inc. (United States), UltrePET, LLC (United States), Gravita India Ltd. (India), Phoenix Technologies (United States), Clear Path Recycling (United States) and Schoeller Group (Germany). Additionally, following companies can also be profiled that are part of our coverage like PFR Nord GmbH (Germany) and NAPCOR (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global PET Plastic Recycling market by 2027. Considering Market by Sources, the sub-segment i.e. Bottles & Containers will boost the PET Plastic Recycling market.
Latest Market Insights:
On 8 March 2022, ALPLA Group has acquired German recycling company Texplast from packaging manufacturer Fromm Group and all of its shares in the joint-venture PET Recycling Team Wolfen. The company said the acquisition, which makes it one of the largest PET recycling companies in Germany
In September 2021, the Indian government amended its Plastic Waste Management Rules to allow the use of recycled plastic in food packaging applications. India’s government has announced that it would phase out the production, sale, and use of certain single-use plastic items from July 2022. In September 2021, India became the first Asian country to also develop a national plastics pact. The India Plastics Pact was launched with the aim of bringing together businesses across the Indian Plastic chain and facilitate a move towards a circular plastic system.
What Can be Explored with the PET Plastic Recycling Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global PET Plastic Recycling Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in PET Plastic Recycling
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global PET Plastic Recycling market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in PET Plastic Recycling market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.