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(Transportation-News.com, February 15, 2018 ) Market Overview:
The concern for Recycled PET has escalated in the recent years. Over 90% of PET is consumed in food packaging with beverages forming almost 80% of the food packaging segment. Recycled-PET has properties to resist the growth of fungi, mold, and bacteria. Due to its versatile benefits, it is commonly used in packaging of food, beverage bottling, cosmetics, pharmaceuticals, and electronics. Since drinks and beverages are consumed mostly in residential houses, restaurants, entertainment venues, airports and other public places, the importance of organized collection and recycling of post-consumer PET bottles needs to be over emphasized.
Growing plastics recycling industry is driving the growth of the global PET recycling market. Growing use of bottles and polyester fiber is increasing the waste generated from these material, which, in turn, increasing the pressure to recycle these materials. This is further adding fuel to the market growth.
Recycled PET includes two methods as the mechanical recycling method and chemical recycling. The mechanical recycling is majorly preferred. The goal of recycling plastics is to reduce high rates of plastic pollution with less emphasis on virgin materials to produce new plastic products by conserving energy. The post customer recycled PET industry started as a result of environmental pressure to boost waste management. The recycling process helps to reduce the land pollution taking place which is done by converting the bottles into lower or same grade type. Majority of plastics are semi-permeable and absorb particles of food or beverage contained.
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The key players of the global PET recycling market includes Libolon (Taiwan), Ecostar Plastics (Placon) (U.S.), Zhejiang Anshun Pettechs Fibre Co. Ltd (Taiwan), Polyquest (U.S.), Haiyan Haili Green Fiber Co., Ltd. (China), Arora Fibres (India), Fromm India (India), Phoenix Technologies Ltd (U.S.), Equipolymers (Germany), Krones Group (Germany )and Foss Manufacturing Company (U.S.)
Market Research Analysis:
Manufacturing, transporting, and putting off municipal solid wastes like plastic ends up in gas emissions that lure heat within the planet’s atmosphere. These gases are released at every stage of a product’s life cycle, contributing to climate change. If the bottle is incinerated, it releases carbon dioxide as a by-product, which contributes to the increase in the rate of global warming. If the bottles are landfilled, it will slowly decompose and unleash gas, a gas which is over 21 times stronger than carbon dioxide. Moreover, materials that are disposed of in landfills have to be replaced by new products manufactured from raw materials, and the extraction of raw materials requires fossil fuel combustion, which releases more carbon dioxide into the atmosphere and reduces a non-renewable resource.
Factors such as rising disposable incomes and government actions to improve drinking water conditions are likely to drive demand for bottled water across markets. Moreover, excellent strength and durability are expected to drive segment growth over the forecast period. The base of food containers and some non-food containers give structural strength, which aids in extending storage time of goods. These products also offer lightness & flexibility when used for packaging purposes.
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The European PET bottle platform is a voluntary industry initiative that provides PET bottle design guidelines for recycling, evaluates PET packaging solutions and technologies and facilitates understanding of the effects of new PET bottle innovations on recycling processes. This initiative fully supports the economic and environmental sustainability of the European PET value chain.
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