Global Plastic Bottle Recycling Market, By Material (PET, PP, HDPE, PVC, LDPE, and others), By Application (Food & Beverages, Personal Care, Pharmaceutical, Consumer goods, and others) - Forecast 2016-2022
Pune, India -- (SBWIRE) -- 04/19/2018 -- Global Plastic Bottle Recycling Market - Overview
Recycling of plastic bottles means the reuse of plastic material and converting them into lower or same grade plastic bottles, hence to reduce the amount of waste going into landfills. These bottles are used in various applications. Most recycled plastics are mainly used for making low-grade products. In order to convert plastic bottles into food-grade plastic, the bottles are hydrolyzed to monomeric form and finally passes through purification and re-polymerization process before converting to a new form. The plastic bottle recycle market is picking up the pace and is expected to grow at a steady rate in the near future, boosted by increased demand for recycled plastic bottles.
Recycling plastic water bottles helps to conserve natural resources, especially oil, which is a non-renewable natural resource available in restricted supply. Recycling of one ton of plastic conserves approximately 3.8 barrels of crude oil, estimated by the Environmental Protection Agency (EPA).
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According to a recent study report published by the Market Research Future, The global market of Plastic Bottle Recycling is booming and expected to gain prominence over the forecast period. The Global Plastic Bottle Recycling market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2017 – 2023).
Growing environmental concerns among the consumers across the globe driving the growth of the plastic bottle recycle market. Moreover, government initiatives towards recycling of plastic bottles and stringent regulations against consumption of non-recyclable plastics, are the factors driving the growth of the market.
Advanced Environmental Recycling Technologies, Avangard Innovative, Phoenix Technologies International, UltrePET, CarbonLITE, Complete Recycling, ECO2 Plastics, Evergreen Plastics, National Recycling Technologies, Recycle Clear, and Worldwide Recycler Services, are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Plastic Bottle Recycling Market.
In September 2016, Unifi, Inc. has celebrated the opening its REPREVE Bottle Processing Center as part of its new Plastics Recycling Facility. The plant, which features bottle sorting and processing equipment at its front end, will allow the firm to produce its REPREVE fibre from recycled PET bottles.
In July 2016, Veolia UK, a subsidiary of France-based Veolia, has acquired a plastics reprocessing plant near London that will unlock the complete supply chain for manufacturing plastic bottles from recycled material.
In July 2017, plastic recycling firm, Vanden Recycling, has opened a new plastic processing facility in Whittlesey, Cambridgeshire a part of its UK expansion plans. The new facility has been equipped with shredding, granulation and baling equipment and has a front-end material inspection and preparation area. The plant also has the flexibility to handle multiple plastic streams such as ABS, HDPE, LDPE, PC, PET, PMMA, PP PS and PVC and to quickly alternate plant set up between different customer requirements.
Global Plastic Bottle Recycling Market - Competitive Analysis
Global Plastic Bottle Recycling Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Plastic Bottle Recycling manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Plastic Bottle Recycling for every application.
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Plastic Bottle Recycling Market - Segmentation
Global Plastic Bottle Recycling Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.
On the basis of material, market is segmented into PET, PP, HDPE, PVC, LDPE, and others. PET is the mostly recycled plastic material among the plastic bottles recycling market followed by HDPE and PP material.
Based on Application segment the market is segmented into Food & Beverages, Personal Care, Pharmaceutical, Consumer goods, and others. Food & Beverages is expected to contribute significantly during the forecast period. Rising demand for food & beverages among the consumers driving the growth of the market. The Personal Care & Pharmaceutical industry are also the major applications the market.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Global Plastic Bottle Recycling Market - Regional Analysis
North America dominates the Plastic Bottle Recycling Market. Stringent regulations against consumption of non-recyclable plastics and high demand for beverage products such as bottled water and beer driving the growth of the market. Additionally, recycled bottles are gaining popularity across the end user industries also boost the growth of the market in the region.
Asia-Pacific is one of the major region for the Global Plastic Bottle Recycling Market. Developing economies such as India, China, and Brazil have changed their buying patterns by purchasing more packaged foods. The demand for packaged products has been increasing in the Asia-Pacific region, majorly due to the changing lifestyle and the rise in purchasing power. This will lead to an increased demand for Plastic Bottle Recycling. Europe is another major market for Plastic Bottle Recycling.
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