Plastic Bottle Recycling Market in the US 2015-2019
About plastic bottle recycling
Recycling of plastic bottles refers to the reuse of plastic material 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 various 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 the plastic. 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 and growing environmental concerns.
Technavio's analysts forecast the plastic bottle recycling market in the US to grow at a CAGR of 3.7% over the period 2014-2019.
Covered in this report
The report covers the present scenario and the growth prospects of the recycle market for plastic bottle industry in the US for the period 2015-2019. The report includes the segmentation of market based on the type of plastic bottle recycled.
Technavio's report, the Plastic Bottle Recycling Market in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Plastic Bottle Recycling Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the plastic bottle recycling market in the US: Advanced Environmental Recycling Technologies, Avangard Innovative, Phoenix Technologies International and UltrePET
Other Prominent Vendors in the market are: CarbonLITE, Complete Recycling, ECO2 Plastics, Evergreen Plastics, National Recycling Technologies, Recycle Clear and Worldwide Recycler Services
Commenting on the report, an analyst from Technavio’s team said: “The demand for plastic and related products in the US is growing at a significant rate, driven by the benefits of plastic materials over metals. Plastic is used in various industries such as automotive, healthcare, defense, oil and gas, and energy. This is one of the major reasons that has intensified the national focus on plastic recycling. In addition, recycling of plastic materials is critically important from an environmental point of view, as it helps address threats such as global warming, ozone layer depletion, and environmental pollution.”
According to the report, the growing demand for plastic bottles from various end-user segments such as automotive, healthcare, oil and gas, construction, food and beverage, and household products has stimulated the production of plastic bottles. The scarcity of reserves and rising raw material and commodity prices are creating new prospects in the market. In addition, the recycling industry has grown considerably in the last 10 years, driven by growing environmental concerns.
Further, the report states that the lack of public awareness about the value and significance of recycled plastics is a major challenge in the market.
Advanced Environmental Recycling Technologies, Avangard Innovative, Phoenix Technologies International, UltrePET, CarbonLITE, Complete Recycling, ECO2 Plastics, Evergreen Plastics, National Recycling Technologies, Recycle Clear, Worldwide Recycler Services