1. Market Research
  2. > Chemical
  3. > Specialty Chemical
  4. > Plastic Market Trends
Engineering Plastic Recycling Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Engineering Plastic Recycling Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • March 2021
  • 171 pages
  • ID: 6039523
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The engineering plastics recycling market is expected to record a CAGR of more than 6% during the forecast period.

The major factor driving the growth of the market studied is the growing emphasis on sustainability among consumers and packaging products.

On the flipside, difficulty in collecting and sorting mixed plastic, along with the difficulty in removing residues, is expected to hinder the growth of the market studied. Additionally, the recent outbreak of the COVID-19 is expected to have a negative impact on the growth of the engineering plastic industry in the short term; and have an adverse effect on the market studied.

Key Market Trends
Packaging Industry to Dominate the Market

- PET is one of the most widely used plastics for packaging applications. Apart from being food safe, PET is also strong, lightweight, transparent, and shatter-resistant. Moreover, as an effective barrier to carbon dioxide, the characteristics of PET make it an unrivaled choice for beverage and rigid food packaging.
- At present, nearly 70% of soft drinks (carbonated drinks, still and dilatable drinks, fruit juices, and bottled water) are packaged in PET plastic bottles. Almost 500 billion PET bottles are produced globally per annum. Around 27 million metric ton of PET a year is used in these applications, globally, with the majority around 23 million ton used in bottles. Recyclate PET can replace all or a proportion of virgin PET polymer in new packaging products.
- Many major brands worldwide are committed to using recyclate PET to reduce their drink products’ carbon footprint. Some of these include Coca-Cola, Nestle Waters, PepsiCo, Danone, and many more. Corporations that sell soft drinks and bottled water have committed to stop using single-use plastics by 2030.
- Although PET is the most widely recycled type of plastic, less than 60% of the PET used for bottles is collected for recycling, and only 6% of the total makes it back into new bottles.
- Furthermore, Coca-Cola unveiled its first-ever sample bottle using recovered and recycled (25%) marine PET Bottles in October 2019. This technology demonstrates that even ocean debris could be used in recycled packaging for food or drinks one day.
- These technologies can become game-changers for the recycled PET packaging market and are instrumental in expanding the market size of the overall recyclate PET market.

Asia-Pacific is is One of the Major Contributors to the Engineering Plastic Recycling Market

- The Asia-Pacific region dominated the engineering plastic recycling market, which accounted for more than 50% of the market share.
- In Asia-Pacific, the majority of the demand for recycling comes from China, Japan, and India.
- China is one of the largest global consumers of polyethylene terephthalate (PET). The abundant availability of raw materials and the low cost of production have supported the production growth of engineering plastics, such as PET, in the country for the past few years. The consumption of PET increased drastically in the recent past due to the growing population, increasing urbanization, and substitution of many metals in various industries. This is expected to positively influence the recyclate PET market’s growth during the forecast timeframe.
- In India, with the increase in the application of plastics, the recyclate PET production is also increasing, as nearly 80% of PET bottles are recycled in the country. Many brands of footwear and garments are beginning to use polyester yarns made from recycled PET bottles.
- The market for recyclate PET is anticipated to witness growth on account of the growing textile industry. For instance, the Indian textile market’s size is expected to reach USD 223 billion markets by 2021. The new textile policy aims to achieve USD 300 billion worth of textile exports by 2024-25.
- Also, the food processing industry in India is rapidly growing with upcoming investments and governmental support. With increasing investments in the food processing industry, the demand for and the growth of food and beverage packaging in the country are likely to increase.
- Under these circumstances, the demand for plastic packaging products has increased tremendously in the last decade. It has been a major driver for the engineering plastic recycling market in the region.

Competitive Landscape
The engineering plastic recycling market is highly fragmented as the dominance of regional market players is extremely high. Some of the major players in the market include Indorama Ventures Public Company Limited, Clean Tech UK Ltd, Far Eastern New Century Corporation (Phoenix Technologies), Alpek Polyester, and Petco.co.za.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

ref:plp2021

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on