The demand for plastics is growing from numerous industries such as packaging, pharmaceutical, beverage, textile fiber, consumer goods, and construction, which is expected to propel the growth prospects of the recycled plastics market across the globe. Plastic has become one of the essential components of our life without which there will be some complications to experience, but it is produced from non-renewable resources such as petroleum. Thus, the cost of plastic material depends on the oil prices. Among all types of plastic resins, polyethylene terephthalate (PET) is most widely used across various industry verticals. Globally, in 2015, around 26.2 million tons of PET is used in packing and 20.5 million tons is used in bottles only.
PET is the most recycled plastic packaging material. The PET trade association stated that 1.8 million tons of PET bottles and containers were collected for recycling across Europe in 2015, with an increase of 5% compared to the previous year. It is expected that the demand for plastic recycling plants in Europe may increase significantly in the years to come. As of now, Europe has almost 1,200 active plastic sorting and recycling plants. In Spain, there isn’t any consumer PET return policy like in the northern EU states and the regulating agencies yet to implement such policies. Most of the plastics end in landfills making the recycling rate low. Whereas, Tax reliefs, and financial assistance from governments in China, India, Indonesia, and Thailand have been driving the recycling of bottles and containers market, which has further prompted the industry development in the Asia Pacific. Additionally, developed economies of the region such as Japan, South Korea, and Singapore have been widely exporting their post-consumer PET waste to China, which stands as a major recycling center across the globe.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/5445
The recycling process helps to reduce the land pollution taking place which is done by converting the bottles into lower or the same grade type. The global market is segmented based on process (Chemical, Mechanical), application (Beverages, Personal Care, Pharmaceutical, Consumer goods, and others), and geography (The Americas, Europe, Asia-Pacific and RoW). Government, especially in European countries, are banning the landfills of plastic product. This is also one of the factor for growing PET bottle recycling industry.
Scope of the report
This study provides an overview of the Global Recycled PET Market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global recycled PET market by its process, application, and region.
Rest of the World
Read More about Report @ https://www.marketresearchfuture.com/reports/recycled-pet-market-5445
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Market Research Future
+1 646 845 9312