Recycled PET Chips Market –Market Demand, Growth, Opportunities, Analysis of Top Key Players and Forecast to 2025
— Global Recycled PET Chips Market Research Report 2019
Wiseguyreports.Com adds “Recycled PET Chips Market 2019 Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast to 2025” To Its Research Database.
The market research report of the global recycled PET chips market provides a detailed qualitative and quantitative analysis, which includes factors that are driving the market to attain considerable growth over the assessment period.
PET is referred as Polyethylene Terephthalate is considered as the most common thermoplastic polymer resin of the polyester family, which is mainly used as fiber for synthetic clothing, liquids and foods container, and engineering resins. These products are generally preferred to be recycled and converted in chips into polymer chain breaks. The recycling process is done mainly at low temperature, and therefore, the degradation of polymer chain is prevented during the process which PET chips are to be used.
The major players in the global RTA furniture market are Clean Tech Incorporated
Clear Path Recycling, Mohawk Industries Incorporated, CarbonLite Industries, Greentech, Visy, Evergreen Plastics, Extrupet, PolyQuest, Phoenix Technologies, Verdeco Recycling, 4PET RECYCLING BV, Far Eastern Group and more
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The factors that are promoting the demand for recycled PET chips are usually the reduction in oil usage, less carbon dioxide emissions, sustainable waste management and reduced consumption of new raw materials and contributing tremendously during the forecast period. At present, the recycled PET chips have been observing a considerable rise in demand mainly from the packaging industry in the last two last decades. Therefore, the advances in technologies for the collection, sorting and reprocessing of recyclable plastics are generating new opportunities for the market to rise abundantly. The favorable initiatives offered by numerous governments for environmental protection is also posing as a substantial factor for the market’s growth over the forecast period.
The recycled PET is also known as a viable alternative to virgin PET and can be usually used in multiple applications. The main application of recycled PET chips is to produce fiber that can be further fabricated as textile or carpets. Apart from these, the recycled PET chips are also highly used in the production of bottles, sheets, film, and many more. According to the study, over the last some years, the recycled PET has been successfully used in food packaging applications as well, which gained much traction and emerged its market with higher valuation then as compared to past years.
The global recycled PET chips market is enormous, and since the past years, the recycling rate of the waste bottles has been grown in both developed and developing countries. Geographically, the market for recycled PET chips has witnessed its expansion in the region of North America, as the region is known for advancements and imbibe technology in faster ways. People in this region are adaptive of technology, and due to this, the market of recycled PET chips is booming at a rapid pace.
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