New York, June 16, 2021 (GLOBE NEWSWIRE) -- Market Analysis
PET Bottle Recycling Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Pet Bottle Recycling Market By Recycling Process, Application, And Region - Global Forecast To 2027” the market is expected to achieve USD 7,538.6 Mn 2027, at a 5.28% CAGR.
A lack of awareness about waste management and recycling, particularly in developing Asia Pacific nations such as India, Cambodia, and Indonesia, limits the growth of the worldwide PET recycling market. Rising awareness of recycling, economic development, and progressive policies to assist environmental protection and waste management are anticipated to help Asia Pacific emerge as the fastest expanding market for PET bottle recycling. The Americas are the largest market for PET bottle recycling, accounting for over 30% of the global industry. Meanwhile, the ban on the import of plastic waste by emerging economies is projected to open up attractive growth opportunities for the worldwide PET bottle recycling market.
COVID-19 Impact on the Global PET Bottle Recycling Market
COVID-19 is an incomparable global public health emergency that has impacted almost every sector, with long-term consequences anticipated to affect industry development over the forecast period.
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Dominant Key Players on PET Bottle Recycling Market covered are:
- Indorama Ventures Public Company Limited
- CarbonLITE Industries
- Krones Ag
- Plastipak Holdings, Inc.
- Ultrepet LLC
- Phoenix Technologies
- Clear Path Recycling
- Schoeller Group
- PFR Nord GmbH
- PolyQuest, among others.
Market Segmentation
The global PET bottle recycling market has been segmented into the recycling process and application.
Based on recycling process, the global PET bottle recycling market has been segmented into chemical and mechanical.
Based on application, the global PET bottle recycling market has been segmented into beverages, personal care, pharmaceutical, consumer goods, and others.
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https://www.marketresearchfuture.com/reports/pet-bottle-recycling-market-2865
Regional Analysis
Region-wise, the global PET bottle recycling market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
The increase in demand for pharmaceutical and packaging materials in nations such as China, India, and Indonesia is expected to drive up demand for PET bottle recycling in the Asia Pacific throughout the forecast period. Population growth has increased the demand for plastic bottles in the Asia Pacific.
North America is also a prominent region in the PET bottle recycling market, owing to the region's increased awareness of environmental sustainability. The ban on landfills implemented in developed countries such as the United States is also pushing the region's PET bottle recycling market.
The implementation of tough environmental restrictions imposed by the European Union is expected to boost the European PET bottle recycling market. During the projection period, the market in Latin America and the Middle East and Africa is expected to rise slowly.
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Competitive Landscape
The global PET bottle recycling market is highly competitive and fragmented, with various enterprises operating globally. The companies used a variety of strategies to expand their global reach and achieve a foothold in the global market. These organizations' major strategy comprises expansions, investments, and acquisitions.
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Segmentation of Market covered in the research:
Information y Recycling Process (Chemical, Mechanical), Application (Beverages, Personal Care, Pharmaceutical, Consumer Goods, And Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.