Latest Research: 2019 Global PET Plastic Bottles Recycling Market Report
As per a new report, the global PET plastic bottles recycling market is expected to witness steep growth in the next forthcoming years. Polyethylene terephthalate (PET) refers to a thermoplastic polymer resin of the polyester family which is mostly used in the manufacturing of plastic bottles and PET bottles are more durable, transparent and cost effective as compared to other forms of bottles. PET bottle recycling means transforming waste products into useful products which can be used again in the future.
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The key players covered in this study Centriforce Products Ltd, Clean Tech UK Ltd, Dennison Plastics, Avangard Innovative, UltrePET, Polychem Corporation, Complete Recycling, ECO2 Plastics, Worldwide Recycler Services, PlasticsEurope, Clear Path Recycling, Mohawk Industries Incorporated, CarbonLite Industries, Envision Plastics Industries, Advanced Environmental Recycling
Spreading global awareness regarding recycling, more stringent rules and regulations in regards to waste management are some of the factors which are expected to drive the global PET plastic bottles recycling market in the coming years. However, lack of awareness about the necessity of waste management in various emerging economies like Indonesia, Cambodia etc can hamper the growth of the global PET plastic bottles recycling market during the projected time period.
Meanwhile, the demand for plastics is increasing from numerous industries such as packaging, pharmaceutical, beverage, Textile fibre, consumer goods to name a few which is likely to propel the market size of recycled plastics across the globe. Recycling plastic bottles are also useful to conserve natural resources, especially oil, which is a non-renewable natural resource available in restricted supply.
The market for global PET plastic bottles recycling market has been segregated into type and application. Based on the type, the market has been divided into Chemical Recycling and Mechanical Recycling. Based on the application, the market has been divided into Food and Non-Food Packaging, Building Materials, Textile Fiber / Clothing, Landscaping/Street Furniture and others.
Detailed Regional Analysis
The global market of the PET plastic bottles recycling market has been analysed across the United States, Europe, India, Japan, China, Southeast Asia and Middle East & Africa (MEA). The US holds a majority of the global market share followed by European and Asia Pacific region. Growing concerns regarding recycling among people and presence of advancing recycling technologies in the region will fuel the market size of PET plastic bottles recycling market in the upcoming years. Meanwhile, APAC region is also experiencing considerable growth which is mainly due to booming economic development and strict government regulations in order to save and protect the environment. Also, on-going plans of implementing better and advanced recycling technology will also propel the market size in the coming years.
The global PET plastic bottles recycling market is expected to witness tough competition among the leading key players and some major activities among the key players can be witnessed during the projected time period. PET plastic Bottle Recycling Market seems to be highly fragmented and competitive mainly due to presence of numerous large and small players operating in regional market which might prove favourable in the future.
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Source: EIN Presswire