The newest report by Market Research Future (MRFR) asserts that the global Plastic Bottle Recycling Market 2020 is poised to acquire a substantial market valuation at a moderate CAGR over the review period.
Drivers and Restraints
The Plastic Bottle Recycling Market growth is driven by increasing environmental awareness. Plastic Bottle Recycling Market trends such as the growing environmental concerns among the consumers across the world driving the growth of the Plastic Bottle Recycling Market. Furthermore, government initiatives towards recycling of plastic bottles and rigorous regulations against the consumption of non-recyclable plastics, are the factors fueling the growth of the market. The Plastic Bottle Recycling Market is picking up the pace and is anticipated to grow at a steady rate in the near future, enhanced by increased demand for recycled plastic bottles. Energy conservation, decreasing greenhouse gas emissions, and lessening pollution is projected to boost the market for plastic bottle recycling. Furthermore, government initiatives towards recycling of plastic bottles and increased awareness among people are driving the Plastic Bottle Recycling Market. On the other hand, high operational costs hamper the growth of the market significantly. The global Plastic Bottle Recycling Market is anticipated to show staggering growth over the forecast period.
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The top market players identified by MRFR in the global market are Advanced Environmental Recycling Technologies, UltrePET, Avangard Innovative, Complete Recycling, Phoenix Technologies International, CarbonLITE, ECO2 Plastics, National Recycling Technologies, Worldwide Recycler Services, Evergreen Plastics, Recycle Clear, among others.
On the basis of material, the Plastic Bottle Recycling Market is divided into PET, HDPE, LDPE, PP, PVC, and others. PET is the most recycled plastic material amid the plastic bottles recycling market, followed by HDPE and PP material.
Based on the Application segment, the market is segmented into Food & Beverages, Personal Care, Consumer goods, Pharmaceutical, and others. Food & Beverages is anticipated to contribute significantly during the forecast period. The rising demand for food & beverages among the consumers driving the growth of the market. The Personal Care & Pharmaceutical industry are also critical applications of the market.
The geographical overview global market has been conducted in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa).
North America is expected to lead the Plastic Bottle Recycling Market owing to the stringent norms against the consumption of non-recyclable plastics and increasing demand for beverage products such as bottled water and beer, which are driving the market growth over the review period. Moreover, the recycled bottles are witnessing popularity across the end-user industries also fuel the expansion of the market in the region.
Europe is another primary market for Plastic Bottle Recycling. Europe has a similar growth trajectory to that of North America, owing to the increasing consumer awareness concerning the environment and the government norms against plastic usage and encouraging bio-degradable packaging materials. This has been contributing substantially towards the growth of the Plastic Bottle Recycling Market and will continue to do so over the review period.
Asia-Pacific is one of the significant regions for the global Plastic Bottle Recycling Market. Emerging economies such as China, India, and Brazil have changed their purchase patterns by purchasing more packaged foods. The demand for packaged products has been rising in the Asia-Pacific region, majorly due to the altering lifestyle and the upsurge in purchasing power. This will lead to an augmented demand for Plastic Bottle Recycling. Rising use of media and advertising to increase consumer awareness is also expected to fair well for the growth of the Plastic Bottle Recycling Market.
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TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.3 MARKET STRUCTURE:
1.3.1 GLOBAL MARKET: BY MATERIAL
1.3.2 GLOBAL MARKET: BY APPLICATION
1.3.3 GLOBAL MARKET: BY REGION
2 RESEARCH METHODOLOGY
2.1 RESEARCH TYPE
2.2 PRIMARY RESEARCHPT
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
2.4.3 MARKET CRACKDOWN & DATA TRIANGULATION
3 MARKET DYNAMICS
3.2 MARKET DRIVERS
3.3 MARKET CHALLENGES
3.4 MARKET OPPORTUNITIES
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