Depleting Petroleum Reserves Impacting Plastic Bottle Recycling Machine Market Positively
Summary
Global Plastic Bottle Recycling Machine Market Growth, Trends, Future Scope, Size, Share, By Material (PET, PP, HDPE, PVC, LDPE, and others), By Application (Food & Beverages, Personal Care, Pharmaceutical, Consumer goods, and others) - Forecast 2016-2022
Plastic Bottle Recycling Machine Market Overview
Plastic bottle recycling involves processes such as waste collection, sorting, shredding, and molding with the aim of conversion into lower or same grade plastic bottles. Market Research Future (MRFR) has recently published an exhaustive study on the global plastic recycling market after meticulous scrutinization of the pertinent factors that could affect the market growth over the forecast period of 2017-2022. MRFR's study has projected that the market would capture a steady CAGR over the forecast period.
Plastics have become the global menace and has evoked major concerns on a worldwide scale. Plastic possesses a high strength-to-weight ratio and is highly resistant to chemical as well as physical degradation, which makes recycling necessary to curb further production of the product. Moreover, plastics are sourced from petroleum and natural gas, the reserves of which are declining at an unprecedented rate. This makes recycling a more reasonable process than producing it from scratch.
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On the other hand, the growth of the market might be hindered by a lack of awareness about waste management and recycling, especially in underdeveloped countries. However, progressive environmental protection regulations are likely to provide growth opportunities for the market.
Competitive Landscape
- National Recycling Technologies
- Phoenix Technologies International
- Evergreen Plastics
- Recycle Clear
- CarbonLITE
- Worldwide Recycler Services
- Avangard Innovative
- UltrePET
- Complete Recycling
- Advanced Environmental Recycling Technologies
- ECO2 Plastics are the key players in the global Plastic Bottle Recycling Machine Market.
Industry Updates
June 2019 - PepsiCo, an American multinational food, snack, and beverage corporation is making its contribution to environment conservation by eliminating plastic bottles from its supply chain. The company is switching to cans for some of its products and has a goal of substituting all its packaging by recycled, compostable, and biodegradable bottles by 2025.
Market Segmentation
The global Plastic Bottle Recycling Machine market has been segmented based on material and application.
By material, the Plastic Bottle Recycling Machine Market has been segmented into PET, PP, HDPE, PVC, LDPE, and others. PET segment accounts for the largest share of the market since it is counted among the most recycled plastic materials. The HDPE and PP material segments follow the PET segment.
By application, the Plastic Bottle Recycling Machine Market has been segmented into Food & Beverages, Personal Care, Pharmaceutical, Consumer goods, and others. The food & beverage segment is likely to be major revenue generator over the forecast period. Towering demand for food and beverages is boosting the growth of the segment. The pharmaceutical industry and personal care industry are also major application area for Plastic Bottle Recycling Machine Market.
Plastic Bottle Recycling Machine Market Regional Analysis
Region-wise, the Plastic Bottle Recycling Machine Market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is the largest market for plastic bottle recycling. The presence of an established F&B industry in the region which has shifted its focus to the recycling plastic bottles to minimize damage to the environment has generated huge demand within the market. Moreover, governments measures to support recycling of plastics along with increasing awareness on the part of manufacturers has driven the market considerably. Additionally, various end-use industries are preferring the use of recycled bottles over normal plastic bottles, which too remains a key growth motivator.
The APAC market is anticipated to establish itself as an important revenue pocket for plastic bottle recycling. Increased demand for packaged food products purveyed by changing lifestyle and increasing purchasing power is expected to drive the market over the forecast period.
Europe region is also expected to experience growth spurts over the forecast period. Various stringent regulations enacted by the government to curb environmental pollution heightened awareness, and augmented demand for recycled plastic bottles from end-use industries is expected to augur the growth of the market.
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