Global Recycle Market for Plastic Bottle Industry 2015-2019
About Plastic Bottle Recycling
Recycling of plastic bottles mainly refers to the reuse of the plastic materials and hence to reduce the amount of waste going into landfills by ultimately converting them into lower or same grade plastic bottles. These bottles are used for applications depending on their properties. Most plastics are semi-porous and absorb molecules of food or beverage contained. The residue removal is a very tedious task, and any additional heating may damage plastic. In order to convert plastic bottles into food grade plastic, 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 pace and is expected to grow at a steady rate in the near future, boosted by the increasing demand for recycled plastic bottles and growing environmental concerns.
Technavio's analysts forecast the global recycle market for plastic bottle industry to grow at a CAGR of 3.9% over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Global Recycle Market for Plastic Bottle Industry for the period 2015-2019. The report includes the segmentation of the market based on type of plastic bottle recycled.
Technavio Announces the Publication of its Research Report – Global Recycle Market for Plastic Bottle Industry 2015-2019
Technavio recognizes the following companies as the key players in the global recycle market for plastic bottle industry: Advanced Environmental Recycling Technologies, Avangard Innovative, Phoenix Technologies International and UltrePET
Other Prominent Vendors in the market are: CarbonLITE, Re-PET Flaschenrecycling and ITW Poly Recycling
Commenting on the report, an analyst from Technavio’s team said: “The global demand for plastic and related products is growing at a significant rate, driven by the various benefits of plastic materials over iron, steel, aluminum, and other metals. Plastic finds its use in various industries such as automotive, healthcare, defense, oil and gas, energy, and others. This is one of the major reasons for plastic recycling being in the spotlight in recent years. In addition, recycling plastic materials including plastic bottles is important from the environmental point of view. With the proper and efficient recycling of plastic, various environmental threats such as global warming, ozone layer depletion, and pollution can be solved to a great extent. This will help boost the market in the near future.”
According to the report, rapidly growing populations and economic expansion have led to increased demand for energy, basic industrial commodities, and consumer goods. The growing requirement of plastic bottles from automotive, healthcare, oil and gas, construction, food and beverage, household products, and other sectors has increased the demand for plastic bottles and boosted their production. The growing scarcity of natural reserves and rising costs of raw materials are creating newer prospects for recycling of plastic bottles.
Further, the report states that the lack of awareness regarding the value and significance of recycled plastic such as HDPE, PET, and PP is a major market challenge.
Advanced Environmental Recycling Technologies, Avangard Innovative, Phoenix Technologies International. UltrePET, CarbonLITE, Re-PET Flaschenrecycling, ITW Poly Recycling