Environmental pollution is one of the major growth factors that is driving the global plastic bottle recycling market. One of the things that everybody can do to protect the environment form any kind of harm is recycling. In present times, plastic bottle could be used to hold any liquid from water to juice to soda.
A few of the plastics that we make use of in our daily lives are as follows
- Foam Packaging
- Milk Jugs & Other Plastic Containers
- Bottle Caps
- Plastic Bags and Wraps
Recycling of plastic bottles leads to reuse of those plastic material. Recycled plastic materials are converted into some same or lower quality of plastic bottles. As such, it lessens the amount of plastic waste that goes into landfills. Such a process leaves a positive impact on the environment, thereby driving the growth of the global plastic bottle recycling market. The bottles thus recycled could now be utilized for the making of various low-grade products. Plastic bottles are hydrolyzed to monomeric form so as to convert plastic bottles into food-grade plastic. It is then made to pass through the process of re-polymerization and purification before it is put to use again. The global plastic bottle recycling market is gaining rapid pace and is estimated to expand at a steady rate over the period of assessment.
Recycling of plastic water bottles assist in the conservation of various natural resources like naturally occurring oil. Oil is a non-renewable source of energy and has restricted supply.
Through recycling of plastic water bottles, one can leave a positive impact on the environment in many different ways. Some of them are mentioned below:
- Produces reduced waste
- Conserves resources
- Conserves energy
- Reduces emissions of greenhouse gas
- Less enviornmental Pollution
The global plastic bottle recycling market seems to be substantially fragmented and is competitive owning to the presence of several players in the market.
The consumption of plastics has grown radically and, subsequently, since 1970s, so has the creation of waste plastics. In relation with this growth the formation of the waste container has also changed. In the process of reproducing and consumption the amount of organic matter has deteriorated, while plastics have increased. Among various innovations from plastics materials plastic bottles are majorly consumed as well as dumped. To avoid this wastage of bottles recycling of the bottles is carried out on a large scale.
Recycling of plastic bottles increases the reuse of plastic material. This recycling helps to reduce the land pollution taking place which is done eventually by converting them into lower or same grade plastic bottles. These recycled bottles are used for numerous applications depending on their material content. Most plastics are semi-permeable and absorb particles of food or beverage contained. Removal of wastage from these bottles is a very tedious task, which needs to be done carefully as any surplus heating may damage the plastic composition. Most recycled plastics are mainly used for making low-grade products. In order to convert plastic bottles into bio degradable plastic, the bottles are hydrolyzed to monomeric form and finally passed through distillation and re-polymerization processes. This process ends into where the bottle is transformed into a food grade plastic. A major challenge for producing recycled resins from plastic bottle is that most different plastic types are not compatible with each other because of integral immiscibility at the molecular level. In this case, the recycling faces the issues of differences in plastic processing requirements at a macro-scale.
The plastic bottle recycle market is growing at a steady rate in the near future. The market growth is driven by growing prospects for recycled plastic bottles and growing environmental concerns which creates land pollution. Recycling plastic water bottles also helps to conserve natural resources, especially oil, which is a nonrenewable natural resource available in restricted supply. The Environmental Protection Agency (EPA) estimates that recycling one ton of plastic conserves approximately 3.8 barrels of crude oil.
Recycling plastic water bottles also help to decrease the amount of pollution in the air and water. Many landfill facilities will destroy plastic bottles to save waste, which can emit toxic pollutants or irritants into the air. The plastic resins used to manufacture water bottles also contains harmful chemicals. These harmful chemicals can penetrate into the soil or groundwater if they are able to break down in the landfill.
Plastic bottle recycling market can be classified on the basis of the type of plastic material which includes polyethylene terephthalate (PET), high-density polyethylene (HDPE) and polypropylene (PP). PET is the mostly recycled plastic material among the plastic bottles recycling market followed by HDPE and PP material. For the ease of study the plastic bottle recycling market is divided among various geographies such as North America, Europe, Asia Pacific, Middle East & Africa and South and Central America. North America has the largest market share in the recycling of the plastic bottles where the U.S. comprises of largest market share.
Some of the key players in the plastic bottle recycling markets are Advanced Environmental Recycling Technologies, Avangard Innovative, Phoenix Technologies International, UltrePET, CarbonLITE, Complete Recycling, ECO2 Plastics, Evergreen Plastics, National Recycling Technologies, Recycle Clear, Worldwide Recycler Services, among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.