Recycled PET Market by Type, Grade, Source, Application and Region
Market Insights
Plastics are in high demand as a cheap
material in numerous industries ranging
from packaging to construction. Its widespread
usage is expected to be a key proponent for the growth
of the recycled plastics market. Market Research Future has published an extensive study on the global
recycled PET market which predicts optimistic growth at a CAGR of 7.02% during
the forecast period from 2017 to 2023. PET plastic is among the most commonly used plastic in a large number of
industries, packaging being one of the primary ones.
The rising concern for the environment has
led to the establishment of several environmental regulations
surrounding plastic use. This has lead to tremendous
growth for the recycled PET market. Presently, more than 90% of recycled PET is
used in the production of food and
beverage packaging. This is due to the properties of PET which allow the
material to resist the growth of mold,
bacteria, and fungi, making it a more hygienic option in F&B packaging. Recycled
PET plastic also has a number of applications in cosmetics, pharmaceuticals,
and electronics. The recycled plastics industry is growing rapidly and is a key
driver of growth for the market. Increasing awareness regarding recycling of
plastics and conscious government efforts
to promote the use of recycling bins are
expected to bolster the recycled PET market.
Market
Segmentation
MRFR's analysis of the market breaks it
down into its core parts which have been
segmented on the basis of process, application, and region. Processes
used to produce recycled PET are segmented into chemical and mechanical.
Applications for recycled PET are
segmented into beverages, personal care, pharmaceuticals, consumer goods, and
others.
The global market is segmented by region to
represent North America, Europe, Asia Pacific, and the Rest of the World.
Sample link
- https://www.marketresearchfuture.com/sample_request/5812
Regional
Analysis
Europe, with a particular emphasis on
Western Europe, leads the global recycled PET market with the largest share.
Countries such as the U.K, Belgium, Sweden, Germany, and others are among the
key participants in the market. Strong recycling programs by various local governments have resulted in aware consumers. Moreover, stringent government regulations have
been imposed and are responsible for the high volumes of recycling in the
region. Other important regional markets include the Asia Pacific is a rapidly
growing market with high promise for growth in the coming years. The region is
concentrated with emerging economies, many of which have massive consumer
populations generating high volumes of waste. As a result, many of these
emerging economies are increased focus on banning the use of single-use plastic and
emphasizing on waste separation for recycling purposes. The region is expected to
be a thriving market due to the presence of a massive food & beverage
industry which is placing a huge demand
for recycled PET plastics in an effort to appeal to customers as environmentally friendly.
Key Players
Notable market players have been profiled
in MRFR’s report on the global recycled PET market. Prominent market players include Phoenix Technologies Ltd, Foss
Manufacturing Company, Haiyan Haili Green Fiber Co., Ltd., Krones Group,
Libolon, Ecostar Plastics (Placon), Zhejiang Anshun Pettechs Fibre Co. Ltd,
Fromm India, Arora Fibres, Polyquest, and Equipolymers
Access full report @
https://www.marketresearchfuture.com/reports/recycled-polyethylene-terephthalate-market-5812
Latest
Industry News
·
Faerch Plast U.K has launched a 100% recycled PET material
under its Food to Go packaging banner. The material is highly sustainable and reduces the need for virgin materials.
·
PepsiCo Inc has announced that it will be using 100% recycled PET which has
been produced by Loop Industries Inc. The material has been produced using
Loops PET depolymerization technology.
About Market Research Future:
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and accurate analysis regarding diverse markets and consumers worldwide. Market
Research Future has the distinguished objective of providing the optimal
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by products, services, technologies, applications, end users, and market
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