Global PCR PET Market Market size, Industry outlook, Market Forecast, Demand Analysis, Market Share, Market Report 2022-2027
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• Global PCR PET market size is forecast to reach US$3.5 billion by 2027, after growing at a CAGR of 5.7% from 2022 to 2027. • The hydroformylation reaction of ethylene oxide using a cobalt catalyst has raised the demand for PCR PET on commercial scale.
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Key Takeaways • The Asia-Pacific region dominates the PCR PET market due to the rising growth and investments in the retail activities. For instance, according to the India Brand Equity Foundation, between 2019 and 2023, India estimates to invest US$1.4 trillion in infrastructure projects. • Rising usage of PCR PET for packaging products in the food and pharmaceutical sector, is further anticipated to drive the demand for global PCR PET in the forecast period (2022-2027).
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Global PCR PET Market Segment Analysis – By Application Bottles held the largest share in the global PCR PET market and is expected to continue its dominance over the period 2022-2027. Bottles and jars made from Post-Consumer Resin (PCR) are becoming increasingly popular in the packaging sector, with PET containers in the forefront. PET (Polyethylene Terephthalate) is one of the most widely used plastics in the world, and it is also one of the easiest to recycle. Since PET is made mostly from fossil fuels, manufacturers of polyethylene terephthalate (PET) with PCR content have a high priority as a result of this. These bottles can be made with anything from 10% to 100% PCR content, though incremental content percentages do necessitate Brand Owners' willingness to sacrifice clarity and color aesthetic. Thus, the increasing usage of global PCR PET in applications such as bottles is further estimated to incline the market growth.
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Global PCR PET Market Market Industry Outlook 1. Amcor plc 2. Bemis Company Inc. 3. Tetra Laval International SA. 4. Mondi 5. WestRock Company 6. Smurfit Kappa 7. Sealed Air 8. Indorama Corporation
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Global PCR PET Market- Forecast(2022 - 2027)
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