Market Research Report
Global PET Bottle Recycling Market Research Report - Forecast to 2023
|Published by||Market Research Future||Product code||740466|
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|Global PET Bottle Recycling Market Research Report - Forecast to 2023|
|Published: November 6, 2018||Content info:||
Pet Bottle Recycling Market Report Information:
By Process (Chemical, Mechanical), Application (Beverages, Personal Care, Pharmaceutical, Consumer Goods, And Others), And Region - Global Forecast To 2023 .
Plastic is produced from non-renewable resources such as petroleum, without which we will experience complications in life. Thus, the cost of plastic material depends on the oil prices. Growing demand for plastics from numerous industries such as packaging, pharmaceutical, beverage, and construction is expected to propel the growth of the recycled plastics market across the globe.
The demand for bottled water market is growing in the eastern part of Europe. Thus, the plastic waste management becomes the important issue. Therefore, plastic recycling is one of the preferred solutions adopted by the European countries. Similarly, recycling plastic bottles also helps to conserve natural resources, particularly oil, which is a non-renewable natural resource. The Environmental Protection Agency (EPA) estimates that recycling one ton of plastic conserves approximately 3.8 barrels of crude oil. However, high operational costs hamper the growth of the market significantly. The global plastic bottle recycling market is expected to show a staggering growth during the forecast period.
PET is the most recycled plastic packaging material in Europe. It is expected that the demand for plastic recycling plants in Europe is likely to increase significantly in the years to come. By the end of 2025, sorting and recycling plants with an estimated capacity of 5.2 million tons will be commissioned. As of now, Europe has almost 1,200 active plastic sorting and recycling plants.
In Spain, there isn't any consumer PET return policy like in the northern EU states and the regulating agencies yet to implement such policies. Most of the plastics end in landfills making the recycling rate low. CICLOPLAST is a Spanish national agency that encourages PET recycling in Spain. It focusses mainly on recycling plastics in the agriculture as that's where plastic and its chemical compounds cause the most damage. Spain is now investing in the chemical recycling sites.
The plastic manufacturing process results in the formation of greenhouse gases, including carbon dioxide, which is responsible for a global warming effect. The recycling of plastic water bottles requires less energy and fossil fuels; it also helps in fewer greenhouse gas emissions. The Environmental Protection Agency estimates that the average family can reduce their carbon dioxide emissions by up to 340 pounds annually simply be recycling their plastic waste
The recycled plastics can have negative impacts on human health. At a basic level, in facilities where manual sorting is still in place, workers may risk injury and disease while sorting materials. There is a risk of plastic waste recycling affecting local populations in countries with less stringent regulations than in the EU.
PET Bottle Recycling Market By Segment
In Europe, the interest for recycling continues to encourage consumers for a cleaner environment, but the main motivation for sustained and successful recycling rates has been government legislation.
The continuous innovation and demand during the last decade made the PET recycling process and technology to become more dependent on automation, which resulted in cleaner production. With the inevitable trend in the growth of the PET industry, the regenerated fiber market is moving towards saturation and B-to-B grade recycling systems drawing more attention and popularity. In the near future, the B-to-B recycling systems are expected to become market mainstream. Factors such as high valued recovery system, sophisticated technology with low labor input are expected to propel the demand for PET recycling industry. The importance of a high-quality recycled PET is expected to rise in the years to come.
The PET recycling industry in Eastern Europe still has a long way to go with no proper waste management methods in most of the countries in the region. However, in the last 5 years, there is an increase of production capacities, especially in the CIS countries and Poland.
Creating new materials from existing materials uses significantly less energy than raw materials. According to the Environmental Protection Agency, recycling one pound of polyethylene terephthalate (PET), which is the most commonly used plastic material in water bottles, conserves approximately 12,000 BTUs (British thermal units) of heat energy. The recycling process uses up to two-thirds less energy than traditional manufacturing. Thus, it has significantly reduced the pressure on the traditional power grid, which uses the fossil fuels.
The key players in the global PET bottle recycling market includes Advanced Environmental Recycling Technologies, Inc. (U.S.), Avangard Innovative (U.S.), Phoenix Technologies International LLC (U.S.), UltrePET LLC (U.S.), Evergreen Plastics Ltd (U.S.), Complete Recycling (U.S.), ECO2 Plastics Inc (U.S.), Worldwide Recycler Services, LLC (U.S.) Kuusakoski Oy (Finland), and PlasticsEurope (Belgium).
The report for Global PET Bottle Recycling 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.