Pet Plastic Recycling Industry Overviewglobal Pet Plastic Recycling Industry is expected to be mainly driven by the growing demand for recycling due to the growing awareness about the environmental benefits of recycling plastic materials.
Competitive Analysis
Leading players in the global Pet Plastic Recycling Industry include PolyQuest, PFR Nord GmbH, Schoeller Group, Clear Path Recycling, Phoenix Technologies, UltrePET LLC, Plastipak Holdings Inc., Krones AG, CarbonLITE Industries, and Indorama Ventures Public Company Limited.
Segmentation:
The global Pet Plastic Recycling Industry is segmented on the basis of recycling process, application, and region.
By recycling process, the global Pet Plastic Recycling Industry is segmented into mechanical and chemical. The mechanical recycling segment dominates the global Pet Plastic Recycling Industry and is likely to exhibit the highest CAGR over the forecast period. The segment accounted for a whopping 67.92% of the market in 2017.
By application, the global [FURL=https://www.marketresearchfuture.com/reports/pet-bottle-recycling-market-2865
]Pet Plastic Recycling Industry[/FURL] is segmented into beverages, personal care products, consumer goods, pharmaceuticals, and others. The beverages segment is expected to dominate the global Pet Plastic Recycling Industry over the forecast period due to the longstanding use of plastics for packaging beverages.
Regional Analysis:
The Americas account for more than 30% of the global Pet Plastic Recycling Industry and are likely to remain the dominant segment in the global market over the forecast period due to the high production of beverages, personal care products, and pharmaceuticals in this region and the high use of plastics for packaging the same. The widespread popularity and distribution of leading brands like Coca Cola and PepsiCo is likely to drive the Pet Plastic Recycling Industry in the Americas over the forecast period.
The increasing demand for personal care products and beverages in emerging Asia Pacific economies is likely to be a major driver for the global Pet Plastic Recycling Industry over the forecast period, as the growing disposable income of consumers in Asia Pacific has driven the demand for several household necessities such as cleaning products, as well as luxury products such as beverages and personal care products, which are often packaged in PET bottles. The Asia Pacific market for PET bottle recycling is expected to exhibit a strong 6.59% CAGR over the forecast period.