PET Bottle Recycling Market Size was valued at USD 4.354 billion in 2021. The PET Bottle Recycling market is projected to grow from USD 4.436 Billion in 2022 to USD 6.749 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.38%
PET bottle recycling is the process of recovering and reusing PET (polyethylene terephthalate) plastic bottles. PET is a common type of plastic that is used to make a wide variety of products, including beverage bottles, food containers, and clothing. PET bottles can be recycled and used to make new products, such as new bottles, carpets, and clothing. The demand for PET bottle recycling may have been impacted by the COVID-19 pandemic due to changes in consumer behavior and shifts in the global economy. For example, the trend of people consuming more packaged food and beverages at home during the pandemic may have increased the demand for PET bottle recycling. The COVID-19 pandemic has had a significant impact on the global economy and has caused disruptions in supply chains and changes in consumer demand for various products and industries. It is likely that the market for PET bottle recycling, like many other markets, has been affected in some way by the pandemic.
Regional Analysis
The APAC district is expected to dominate the pet bottle recycling market during the estimated time frame. Quick urbanization, expanding mindfulness about reusing, drives by the public authority to support reusing, and consistent innovative advances are some of the reasons for the worldwide PET container reusing market development in the area. Japan, India, and China have the most extreme offer on the lookout.
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Market Segmentation
The Global PET Bottle Recycling market has been segmented into the recycling process and application.
Based on the recycling process, the market has been segmented into Chemical, Mechanical.
Based on the application, the market has been segmented into Beverages, Personal Care, Pharmaceuticals, Consumer Goods, And Others.
Key Players
Some of the key market players are Indorama Ventures Public Company Limited (Indorama Ventures), Krones AG, Plastipak Holdings, Inc. (Plastipak), Schoeller Group, PFR Nord GmbH, PolyQuest, Phoenix Technologies, UltrePET, LLC (UltrePET), Sieu Japan Co., Ltd. (Seiu Japan), and Vanden Global Ltd. (Vanden), and other are the key players.
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