Global Plastic Bottle Recycling Market, By Material (PET, PP, HDPE, PVC, LDPE, and others), By Application (Food & Beverages, Personal Care, Pharmaceutical, Consumer goods, and others) - Forecast 2016-2022
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.
Regional Analysis of Global Plastic Bottle Recycling Market
Global plastic bottle recycling market is growing rapidly owing to factors such as growing prospects for recycled product, and growing environmental concerns among others. Currently North America is dominating the market of recycling market of plastic bottles. Food & beverages industry leads the market in the developed region like U.S. and helps to boost the market of bottle recycling. Additionally, recycled bottles are gaining popularity across the end user industries and the governments are also adopting new measures for recycling.
North America will be the largest market North America is expected to grow the market with largest market for plastic bottles recycling. The reason is attributed to the increasing prices for conventional plastics, environmental issues and improved quality of recycled plastic. North America continuously looks for ways to make recycling plastic more effective and comprehensive. Moreover, growing emphasis on sustainability, and technological advancements are the major factors which drive the market of plastic bottle recycling in North America.
The key players of global plastic bottle recycling market report include- Advanced Environmental Recycling Technologies, Avangard Innovative, Phoenix Technologies International, UltrePET, CarbonLITE, Complete Recycling, ECO2 Plastics, Evergreen Plastics, National Recycling Technologies, Recycle Clear, Worldwide Recycler Services, among others.