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The recycle for plastic bottle market size is forecast to increase by USD 4.89 billion, at a CAGR of 8.06% between 2023 and 2028. The market is experiencing significant growth due to several key factors. Firstly, the increasing use of plastic bottles and their recycled forms in various industries, including food and beverage, water, and household applications, is driving market expansion. Additionally, there is a growing focus on recycling plastic by manufacturing companies to reduce their carbon footprint and meet sustainability goals. However, despite these positive trends, the low recycling rate remains a significant challenge. To address this issue, initiatives such as extended producer responsibility programs and stricter regulations on plastic waste disposal are being implemented to increase recycling rates and promote a circular economy for reusable plastic bottles. Overall, the market for recycled plastic bottles is expected to continue growing, driven by increasing demand for sustainable packaging solutions and efforts to reduce plastic waste.
The market is witnessing significant growth due to increasing awareness of environmental degradation caused by plastic waste. It includes various segments such as PET bottle recycling, plastic films, synthetic fibers, rigid plastics and foams, polyethylene terephthalate (PET), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), polyamide (PA), and polycarbonate. Plastic bottles are the major application area, with collection, sorting, processing, and reuse as key steps involved. The market is driven by the demand for plastic bottles in industries like beverages, personal care, pharmaceuticals, and food packaging. Recycling facilities play a crucial role in the circular economy, with mechanical and chemical recycling as the two primary methods. Closed-loop systems and sustainable packaging initiatives further boost market growth. Plastic films, synthetic fibers, and rigid plastics and foams are also significant applications for recycling. Polypropylene (PP) bottles are gaining popularity due to their lightweight and reusable nature. The market is expected to grow further with the increasing focus on reducing environmental degradation and promoting sustainable packaging solutions.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from - for the following segments.
The PET segment is estimated to witness significant growth during the forecast period. PET is a form of polyester that is formed by combining two monomers, namely modified ethylene glycol and purified terephthalic acid. It is a commonly used packaging material that comes under the thermoplastic category and has a crystal-clear look.
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The PET segment accounted for USD 5.24 billion in 2018. PET is a popular packaging material for food and non-food products, including liquids. Manufacturers and suppliers of food and beverages use PET bottles to package products because of their strength, thermo-stability, and transparency. PET bottles are labeled with the #1 code on or near the bottom and are commonly used to package soft drinks, water, juice, salad dressings, oil, cosmetics, and household cleaners.
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APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market for recycled plastic bottles is gaining momentum as concerns over virgin plastic production and its negative environmental effects continue to rise. Recycling technology plays a crucial role in transforming used plastic bottles into recycled plastic feedstock. Programs and incentives, such as circular packaging solutions, encourage the collection of PET, HDPE, and PP bottles through curbside recycling, drop-off centers, and deposit refund systems. Contamination and proper collection procedures are essential to ensure the quality of the recycled plastic feedstock. The plastic composition and recycling infrastructure's economic viability are significant factors influencing the market's growth. Effective recycling processes are essential to minimize contamination and ensure the production of high-quality recycled plastic feedstock. By addressing these challenges, the market can contribute to a more sustainable future for plastic packaging.
The growing use of plastic bottles and their recycled forms is notably driving market growth. The global market is experiencing significant growth due to the increasing production and consumption of plastic bottles in various industries, particularly beverages, personal care, pharmaceuticals, and food packaging. This trend is driven by the rising demand for these consumer products and the growing disposable income. However, this increase in plastic bottle production and consumption also leads to a substantial amount of plastic waste. To mitigate environmental degradation and reduce pollution, there is a growing focus on recycling plastic bottles. Recycled plastic from bottles is used in various applications, including building and construction, textiles, and energy conservation. The recycling process involves collection, sorting, processing, and reuse of plastic bottles, which can be done through mechanical or chemical methods. The use of recycled plastic in closed-loop systems is a key trend in the plastic bottle recycling industry.
This involves the reuse of recycled plastic in the production of new plastic bottles, reducing the need for virgin plastic and the associated CO2 emissions. Recycling plastic bottles also helps in reducing the use of natural resources and minimizing the impact on biodiversity and aquatic lives. Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyamide (PA), Polycarbonate, and Acrylonitrile-butadiene Styrene are the major types of plastic used in bottle production. These rigid plastics and foams, along with synthetic fibers, are the primary contributors to plastic waste. Corporate sustainability programs and environmental consciousness are also driving the demand for plastic bottle recycling, making it an essential component of the circular economy. Thus, such factors are driving the growth of the market during the forecast period.
The growing focus on recycling plastic by manufacturing companies is the key trend in the market. Plastic waste generated from packaging, particularly from PET bottles, plastic films, synthetic fibers, rigid plastics and foams, and other types of containers, poses a significant challenge to the global economy and the environment. According to the World Economic Forum, the annual loss due to plastic packaging waste is estimated to be between USD 80 billion and USD 120 billion. To mitigate this issue and contribute to the United Nations Sustainable Development Goal on Sustainable Consumption and Production, companies are shifting their focus towards reducing plastic waste generation and promoting recycling. A circular economy approach is gaining traction, where less packaging is used, and packaging materials are designed for reuse, recycling, or composting.
This closed-loop system ensures that the value of materials, including plastics such as Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyamide (PA), Polycarbonate, Acrylonitrile-butadiene Styrene, and others, is not lost due to disposal. Building & Construction, Textiles, Energy conservation, and various industries are increasingly adopting recycled plastic products, reducing pollution, greenhouse gas emissions, and contributing to environmental consciousness and corporate sustainability programs. Recycling facilities employ mechanical and chemical processes to process collected and sorted plastic bottles, including High-Density Polyethylene bottles and PP bottles, into new products. This closed-loop system is essential for reducing environmental degradation and minimizing plastic waste, benefiting biodiversity and aquatic lives while reducing CO2 emissions. Thus, such trends will shape the growth of the market during the forecast period.
The low recycling rate is the major challenge that affects the growth of the market. The global market faces significant challenges due to inadequate waste collection and management infrastructure. This issue hinders the effective recycling of plastic bottles, leading to an increase in plastic litter. Plastic bottles are a major contributor to the growing problem of plastic waste, with an estimated 8.3 billion metric tons produced since the 1950s, of which only around 9% have been recycled. The production of plastics, particularly for beverages, personal care, pharmaceuticals, and food packaging, has surged in recent decades. However, the lack of recycling facilities and proper sorting and processing techniques results in a significant amount of plastic waste ending up in landfills or the environment. Plastic waste not only poses a threat to biodiversity and aquatic lives but also contributes to environmental degradation through CO2 emissions and greenhouse gases.
Various types of plastic, including Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyamide (PA), Polycarbonate, and Acrylonitrile-butadiene Styrene, are used in various industries such as building and construction, textiles, and energy conservation. Recycling these plastic materials can help reduce pollution, conserve resources, and promote environmental consciousness and corporate sustainability programs. Mechanical recycling and chemical recycling are two primary methods used to recycle plastic bottles. Closed-loop systems enable the production of new bottles from recycled plastic, reducing the need for virgin materials. It is crucial to establish efficient collection, sorting, and processing systems to minimize plastic waste and promote a circular economy. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amcor Plc - The company offers recycling of polyethylene terephthalate and other plastic resins.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Plastic bottles, including PET, PP, PVC, PS, PA, and their full names polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and polyamide are widely used in various industries such as building and construction, textiles, beverages, personal care, pharmaceuticals, and food packaging. However, the excessive use of these bottles has led to environmental degradation, plastic waste, and increased CO2 emissions. The "Recycle for Plastic Bottles" initiative aims to reduce pollution, conserve energy, and promote a circular economy by focusing on the collection, sorting, processing, and reuse of plastic bottles, transforming them into recycling products like plastic films, synthetic fibers, and rigid plastics and foams.
Mechanical recycling and chemical recycling are the two primary methods for recycling plastic bottles. Mechanical recycling involves melting and shredding bottles to create new products, while chemical recycling breaks down plastic molecules to produce raw materials for new bottles. Recycling plastic bottles reduces the need for new raw materials and minimizes environmental impact by lowering greenhouse gas emissions, preserving biodiversity, and protecting aquatic life. Corporate sustainability programs and environmental consciousness are key drivers of growth in the plastic bottle recycling market. Closed-loop systems ensure that recycled plastic bottles are reused within the same industry, creating a continuous cycle. Join the "Recycle for Plastic Bottles" movement today and contribute to a sustainable future.
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Market Scope |
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Report Coverage |
Details |
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Page number |
149 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.06% |
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Market growth 2024-2028 |
USD 4.89 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.85 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 57% |
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Key countries |
China, US, India, Germany, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amcor Plc, Complete Recycling LLC, ECO2 PLASTICS Inc., Ecoplast Solutions, EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H., EVERGREEN A GREENBRIDGE Co., Ioniqa Technologies B.V., Loop Industries Inc., MoistureShield, NATIONAL RECOVERY TECHNOLOGIES LLC, NaturaPCR, perPETual Technologies GmbH, Phoenix Technologies International LLC, PlastiKetic Co., PTP GROUP Ltd., Recycle Clear, UltrePET LLC, United Resource Recovery Corp., and Worn Again Technologies |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Grade Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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