PET Bottle Recycling Market: 2021 Industry will touch USD 5,933.6 million, at a CAGR 5.28% Forecast by 2023
Research Reports
Jan 18, 2021
The PET Bottle Recycling Market will touch USD 5,933.6 million at a 5.28% CAGR between the forecast period 2017- 2023, states the recent Market Research Future (MRFR) analysis. PET (polyethylene terephthalate) is a polyester that is molded or extruded into plastic containers and plastic bottles for packaging personal care products, foods and beverages, and other consumer products. This is a recycled material that can be used for manufacturing new containers and bottles.
The recycling process of these recyclable packs is of two types mechanical and chemical. Owing to the alluring features and perks these recyclable materials have wide applications in pharmaceuticals, personal care, consumer goods, beverages, and others.
Various factors are propelling the global PET bottle recycling market share. According to the recent MRFR report, such factors include favorable support from the government for plastic recycling initiatives, use of PET bottles in the packaging industry, designing of PET bottles to facilitate recycling and reusable packaging, and ban on the import of plastic waste by emerging economies,
On the flip side, lack of awareness about recycling, coupled with the current COVID-19 impact may deter the global PET bottle recycling market growth in the region.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global PET bottle recycling market based on application and recycling process.
By application, the global PET bottle recycling market is segmented into pharmaceuticals, personal care, consumer goods, beverages, and others. Of these, the beverages segment will lead the market over the forecast period.
By recycling process, the global PET bottle recycling market is segmented into mechanical and chemical.
Regional Analysis
By region, the PET bottle recycling market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the APAC region will dominate the market during the forecast period. It will develop at a 6.59% CAGR. Rapid urbanization, increasing awareness about recycling, initiatives by the government to encourage recycling, and constant technological advances are adding to the global PET bottle recycling market growth in the region. Japan, India, and China have the utmost share in the market.
In the Middle East and Africa, the PET bottle recycling market is predicted to have the second-largest share during the forecast period. It will grow at a 5.19% CAGR. The gradually growing urban lifestyle is adding to the global PET bottle recycling market growth in the region.
In Europe, the PET bottle recycling market is predicted to have healthy growth over the forecast period. It is predicted to touch USD 468.3 million at a 4.89% CAGR. The presence of strong economies the UK, Germany, and France, favorable initiatives by the government to encourage recycling, and technological innovations, are adding to the global PET bottle recycling market growth in the region. Germany holds the utmost share in the market.
In North America, the PET bottle recycling market is predicted to have sound growth over the forecast period. It is predicted to touch USD 1,757.3 million at a 4.59% CAGR. The presence of several key players coupled with technological advances is adding to the global PET bottle recycling market growth in the region. The United States of America holds the utmost market share.
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Competitive Analysis
Key contenders profiled in the global PET bottle recycling market report include UltrePET LLC (USA), Plastipak Holdings, Inc. (the USA), Phoenix Technologies (USA), PFR Nord GmbH (Germany), Krones AG (Germany), Indorama Ventures Public Company Limited (Thailand), Clear Path Recycling (USA), and CarbonLITE Industries (USA), among others.
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
4 Market Dynamics
4.1 Introduction 24
4.2 Drivers 24
4.2.1 Use Of PET Bottles In The Packaging Industry 24
4.2.2 Government Support For Recycling Plastic 25
4.2.3 Impact Of Plastic Disposal On The Environment 26
4.2.4 Drivers Impact Analysis 27
4.3 Restraint 27
4.3.1 Lack Of Awareness Regarding Recycling 27
4.3.2 Restraint Impact Analysis 28
4.4 Opportunities 28
4.4.1 Designing Of PET Bottle To Facilitate Recycling 28
4.4.2 Ban On Import Of Plastic Waste By Emerging Economies 29
5 Market Factor Analysis
5.1 Supply Chain Analysis 31
5.1.1 Waste Collection 31
5.1.2 Sorting And Shredding 31
5.1.3 Plastic Molding 31
5.1.4 End-Use 31
5.2 Porter’s Five Forces Model 32
5.2.1 Threat Of New Entrants 32
5.2.2 Bargaining Power Of Suppliers 32
5.2.3 Bargaining Power Of Buyers 32
5.2.4 Threat Of Substitutes 33
5.2.5 Intensity Of Rivalry 33
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