Municipal solid waste (MSW) is the garbage that people produce in their homes and where they work which is operated and controlled by local officials such as city or governments. Plastic consumption has grown at a tremendous rate over the past two decades as plastics now play an important role in all aspects of modern lifestyle. Plastic recycling refers to a process in which the discarded plastic is converted into reusable form. Discarded plastic can be rigid such as bottles, and containers; or non-rigid such as films, and wrappers.
Plastic recycling refers to a process in which the discarded plastic is converted into reusable form. Discarded plastic can be rigid such as bottles, and containers; or non-rigid such as films, and wrappers. Plastic recycling market is segmented on resin type such as PET. Polyethylene terephthalate abbreviated PET, is the most common thermoplastic polymer resin of the polyester family and are used in fibers for clothing, containers for liquids and foods, and thermoforming for manufacturing.
Polyethylene terephthalate or PET (also known as PETE) is one of the most common types of plastic. Most single-serve plastic bottles, including those for water, soft drinks and juices, are made with PET. PET is the main constituent in a variety of consumer and industrial products including plastic fibers, videotape, audiotape, film, engineered resin, food containers. PET-bottles contribute increasingly to the generation of waste and litter especially in developing countries.
The global recycled polyethylene terephthalate market size was valued at USD 8.56 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028. The market growth is primarily driven by changing consumer behavior towards sustainability. Asia Pacific was the largest regional market in 2020, which accounted for a revenue share of over 45. The regional market is characterized by the easy availability of land along with a low-cost, skilled labor force.
Few Indian Major Players
1. Ahimsa Industries Ltd.
2. Bharat Pet Ltd.
3. Dalmia Polypro Inds. Pvt. Ltd.
4. F C L Technologies & Products Ltd.
5. Futura Polymers Ltd.
6. Garden Polymers Pvt. Ltd.