PET Bottle Recycling Market

Market Overview:

The global PET bottle recycling market size reached US$ 5.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032. The rising consumer awareness regarding the recycling and reuse of PET bottles, increasing demand for recycled PET in the food and beverage (F&B) industry, and introduction of artificial intelligence (AI)-enabled robotics in recycling process represent some of the key factors driving the market.

Polyethylene terephthalate (PET) bottle recycling refers to reprocessing and converting discarded plastic bottles into raw materials that can be used to produce new products. It involves bottle collection, sorting, shredding, washing, decontamination, pelletizing, reforming, and testing. PET bottles and containers are melted down and spun into recycled polyester yarn, which is utilized in packaging, concrete composition, carpets, fibers, sheets, furniture, ropes, and vehicle parts. PET bottle recycling is a highly efficient and eco-friendly process that minimizes energy consumption and preserves resources by lowering the dependency on virgin materials. It also reduces land and water pollution and the waste collected in landfills that impact wildlife and the ecosystem. As a result, PET bottle recycling finds extensive applications across the food and beverage (F&B), pharmaceutical, automotive, textile, consumer goods, and construction industries.

PET Bottle Recycling Market Trends:

The rising demand for recycled PET bottles on account of the increasing environmental hazards and growing public awareness across the globe is one of the key factors driving the market growth. PET bottle recycling helps to reduce environmental pollution, conserve natural resources, save landfill space, reduce dependency on fossil fuel-based raw materials, and promote sustainable lifestyles. In addition to this, the implementation of stringent government regulations to promote a circular plastic economy and spread awareness about PET recycling is acting as another growth-inducing factor. Furthermore, the increasing demand for recycled PET in the food and beverage (F&B) industry to produce high-quality food-grade containers and bottles for water, soft drinks, juices, sauces, vegetables, fruits, and salads, owing to its high strength, excellent durability, and enhanced safety is providing an impetus to the market growth. Additionally, the introduction of artificial intelligence (AI)-enabled robotics in PET bottle recycling to automate the bottle sorting process, which reduces manual labor, improves accuracy, enhances efficiency, and ensures consistency, is positively influencing the market growth. Apart from this, the recent development of advanced enzymes that can break down PET plastic into its constituent monomers, which aids in enhancing the recycling process and allowing plastic recovery at molecular levels, is favoring the market growth. Moreover, the rising adoption of recycled PET in the textile industry to produce sustainable fibers, yarns, microfilaments, and cords for application in carpets, blankets, clothing, upholstery, cushions, and sleeping bags is propelling the market growth. Other factors, including the rising demand for recycled PET bottles in the packaging industry, increasing investment in the research and development (R&D) of innovative recycling techniques, and widespread utilization of recycled PET in construction activities, are anticipated to drive market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global PET bottle recycling market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on recycling process and application.

Recycling Process Insights:

• Chemical
• Mechanical
   

The report has provided a detailed breakup and analysis of the PET bottle recycling market based on the recycling process. This includes chemical and mechanical.

Application Insights:

• Food and Beverages
• Packaging
• Personal Care
• Consumer Goods
• Pharmaceutical
• Others
   

A detailed breakup and analysis of the PET bottle recycling market based on the application has also been provided in the report. This includes food and beverages, packaging, personal care, consumer goods, pharmaceutical, and others.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global PET bottle recycling market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 9 Evergreen (Greenbridge), Indorama Ventures Public Company Limited, Krones AG, PFR Nord GmbH, Phoenix Technologies International LLC (Far Eastern New Century Corporation), Plastipak Holdings, Inc., UltrePET, LLC (wTe Corporation), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

PET Bottle Recycling Market Report Scope:

Key Questions Answered in This Report:

• How has the global PET bottle recycling market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global PET bottle recycling market?
• What is the impact of each driver, restraint, and opportunity on the global PET bottle recycling market?
• What are the key regional markets?
• Which countries represent the most attractive PET bottle recycling market?
• What is the breakup of the market based on the recycling process?
• Which is the most attractive recycling process in the PET bottle recycling market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the PET bottle recycling market?
• What is the competitive structure of the global PET bottle recycling market?
• Who are the key players/companies in the global PET bottle recycling market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the PET bottle recycling market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global PET bottle recycling market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the PET bottle recycling industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.