The global market for plastic bottle recycling is driven primarily by the rising awareness about the environmental risk posed by plastic waste, according to a new report from Transparency Market Research. The report, titled ‘Plastic Bottle Recycling Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 – 2023,’ presents a solid analysis of the market’s historical development trajectory and links it with the market’s current figures to derive actionable insights into the market’s expected development in the coming years.
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Plastic bottles are among the most widely used consumer goods in the world. A wide variety of products, including beverages, cosmetics, and chemicals, are stored and transported in plastic bottles, leading to the generation of significant quantities of plastic waste. Plastic bottles are nonbiodegradable, which has caused soil and water pollution across the world. However, the durability of plastic materials has also presented a viable hope for large-scale recycling, as plastic bottles can readily be reconstituted into other plastic goods.
The rising concern caused by the scarcity of petroleum has also aided the plastic bottle recycling market, since most commercially used plastics are derived from petroleum. As the increasing production of unconventional oil and gas shows, conventional oil wells have started to decline, leading to an urgent need to reduce the use of oil in nonessential end-use industries.
Recycling plastic bottles involves converting them into lower grades of plastic in order to make it reusable. This process is considerably complicated by the difficulties in producing a homogenous mixture of different plastics, as different plastic resins do not readily mix due to fundamental differences at the molecular level. This necessitates the separation of plastic bottles according to plastic type, which can be time-consuming and expensive, based on the total volume and the diversity of plastic materials present at a given site.
By product type, the global plastic bottle recycling market is segmented into polyethylene terephthalate (PET), polypropylene, and high-density polyethylene. Of these, PET bottles were the leading contributor to the global plastic bottle recycling market in 2015 and are likely to remain the key segment in the coming years.
Geographically, North America is the key contributor to the global plastic bottle recycling market due to the rising plastic bottle recycling operations in the U.S. The easy availability of advanced infrastructure in the U.S. is expected to ensure steady growth of the North America plastic bottle recycling market in the coming years.
The leading plastic bottle recycling market players profiled in the report include Advanced Environmental Recycling Technologies, UltrePET, Evergreen Plastics, Phoenix Technologies International, Worldwide Recycler Services, National Recycling Technologies, CarbonLITE, ECO2 Plastics, Avangard Innovative, and Recycle Clear.
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