Market Synopsis of Plastic Bottle Recycling Market
Recycling of plastic bottles have become a major market altogether and is carried out on a large scale. It increases the reuse of plastic material. Recycling helps to reduce pollution levels by converting them into lower grade plastic. This provides opportunities to reduce carbon dioxide emissions and the quantities of waste. Moreover, advance technologies and systems for the collection, sorting and reprocessing of recyclable plastics are creating new opportunities for recycling market.
Energy conservation, reduced greenhouse gas emissions and reduced pollution are expected to boost the market for plastic bottle recycling. Moreover, government initiatives towards recycling of plastic bottles and increased awareness among people are driving the plastic bottle recycling market. However, high operational costs hamper the growth of the market significantly. The global plastic bottle recycling market is expected to show staggering growth during the forecast period.
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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.
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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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