Recycle Market for Plastic Bottle Industry by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR41198
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The recycle market size for plastic bottle industry has the potential to grow by USD 3.10 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by product (PET, HDPE, PP, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, this plastic bottle recycling market report analyzes the market’s competitive landscape and offers information on several market vendors, including Avangard Innovative, Carbonlite Inc., Complete Recycling, ECO Plastic Solutions, ECO2 Plastics, Envipco Holding N.V., EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H, Evergreen Plastics, Ioniqa Technologies, Loop Industries Inc., MoistureShield, National Recovery Technologies LLC, Perpetual Global Technologies Ltd., and Phoenix Technologies International LLC.

Market Overview

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Market Competitive Analysis

The market is fragmented and competitive owing to the presence of several players. Various regional and a few global players are competing in the market based on quality, price, and regulatory compliance. Envipco Holding N.V., EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H, Evergreen Plastics, Ioniqa Technologies, Loop Industries Inc., MoistureShield, National Recovery Technologies LLC, Perpetual Global Technologies Ltd., and Phoenix Technologies International LLC are some of the major market participants. Although the growing use of plastic bottles and their recycled forms will offer immense growth opportunities, the high cost of plastic recycling will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this plastic bottle recycling market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this plastic bottle recycling market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Avangard Innovative
  • Carbonlite Inc.
  • Complete Recycling
  • ECO Plastic Solutions
  • ECO2 Plastics
  • Envipco Holding N.V.
  • EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H
  • Evergreen Plastics
  • Ioniqa Technologies
  • Loop Industries Inc.
  • MoistureShield
  • National Recovery Technologies LLC
  • Perpetual Global Technologies Ltd.
  • Phoenix Technologies International LLC

Recycle Market for Plastic Bottle Industry: Segmentation by Region

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APAC had the largest plastic bottle recycling market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing global population and simultaneous economic growth have resulted in increased consumption of beverages and bottled water, which has led to a rise in the use of plastic bottles and the subsequent waste generation. This will significantly influence the plastic bottle recycling market growth in this region.

51% of the market’s growth will originate from APAC during the forecast period. China is one of the critical markets for plastic bottle recycling in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Recycle Market for Plastic Bottle Industry: Segmentation by Product

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PET is a commonly used packaging material that comes under the thermoplastic category and has a crystal-clear look. Moreover, PET is a popular packaging material for food and non-food products, including liquids. Manufacturers and suppliers of food and beverages use PET bottles to package products because of its strength, thermo-stability, and transparency. Additionally, customers prefer PET because it is inexpensive, lightweight, resealable, shatter-resistant, and recyclable.

Market growth in this segment will be faster than the growth of the market in the HDPE and PP segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the plastic bottle recycling market size.

Recycle Market for Plastic Bottle Industry: Key Drivers and Trends

The growing demand for plastic bottles for packaging in consumer goods industries is a significant factor driving the plastic bottle recycling market. The need for plastic bottles is increasing because of the rising demand for various consumer products, including beverages, personal care products, and dairy products, as well as the growing disposable income. This is increasing the number of plastic bottles being produced, which is resulting in an increase in the generation of plastic waste. With the increasing number of applications of recycled plastic from bottles, the global market will grow at a steady rate during the forecast period. Many end-users use recycled material from plastic bottles, especially PET, to make different products. For instance, plastic bottles can be hydrolyzed to monomeric form and converted to food-grade plastic post purification and re-polymerization.

  • Growing concerns regarding environmental pollution caused by disposing of plastic bottles is a significant factor driving the global plastic bottle recycling market.
  • Recycling helps decrease the amount of pollution in the air, water, and land. It not only reduces the amount of plastic waste that goes into landfills but also the emissions of greenhouse gases that are emitted by burning plastic bottles.
  • Governments across the world are taking steps to conserve their resources due to the increasing use and concerns regarding scarcity.
  • Plastic manufacturing requires large quantities of petroleum and natural gas derivatives. About 4% of the oil and gas produced in the world is used for making plastic feedstock.
  • The plastic manufacturing industry is also been focusing on recycling plastic in order to reduce the consumption of natural resources, thereby making it one of the key recycle for plastic bottle industry market trends.
  • During 2020-2024, the market will grow at a CAGR of about 7%. 

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Recycle Market for Plastic Bottle Industry: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive plastic bottle recycling market growth during the next five years
  • Precise estimation of the plastic bottle recycling market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the plastic bottle recycling industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of plastic bottle recycling market vendors 

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The recycle for plastic bottle industry market growth will increase by $3.10 billion during 2019-2024.
The recycle for plastic bottle industry market is expected to grow at a CAGR of 7.16% during 2019-2024.
Technavio has segmented the recycle for plastic bottle industry market by product (PET, HDPE, and PP) ,application (Core banking software, Asset and wealth management software, and Other banking software) , and geographic (APAC, Europe, North America, and South America).
Avangard Innovative, Carbonlite Inc., ECO2 Plastics, Evergreen Plastics, Loop Industries Inc., National Recovery Technologies LLC, Perpetual Global Technologies Ltd., Phoenix Technologies International LLC, PTP Group Ltd., UltrePET LLC are a few of the key vendors in the recycle for plastic bottle industry market.
APAC will register the highest growth rate of 54.08% among the other regions. Therefore, the recycle for plastic bottle industry market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the recycle for plastic bottle industry market growth are:
  • Growing use of plastic bottles and their recycled forms
  • Growing focus on recycling plastic by manufacturing companies
The recycle for plastic bottle industry market vendors should focus on grabbing business opportunities from the pet segment as it accounted for the largest market share in the base year.
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