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. Designated by the recycling code “1”.
PET-bottles have a negative impact on the environments because they are polluting soil, rivers, coastal areas, air when burned and consume a lot of landfill site space. So, it is very necessary to recycle of PET-bottles to saves 65% of the energy for primary PET-production. PET recycling is the process of reprocessing plastic that already has been used before and giving it some new reusable form.
Recycled PET is converted into numerous products such as packaging applications (such as new bottles),sheet and film application, strapping, fiber applications.
India produces around 500,000 tonnes of PET annually. The overall capacity of the industry is rated at about 650,000 tonnes per year. In the past, PET was subjected to high rates of duty and tax. Now the duty and taxes have been brought to the same levels as other competing materials like PVC, PP (polypropylene) and PE (polyethylene), ensuring a level playing field for PET. A market research study by GBI Research, sees Asia, including India driving the global demand for PET by 2020. India's main producer of PET containers, Pearl Polymers recorded over 6% growth in production and nearly 8.5% growth in sales of PET bottles and jars. Thus, due to demand it is a good project for entrepreneurs to invest.