In Europe, 105 billion plastic bottles are consumed annually, with 1 billion of them appearing at one of the largest plastic recycling plants in Europe, the Zwoller recycling plant in the Netherlands! Let’s take a look at the entire process of recycling and reusing waste, and explore whether this process has truly played a role in environmental protection!
PET recycling acceleration! Leading overseas enterprises are busy expanding their territory and competing for the European and American markets
According to Grand View Research data analysis, the global rPET market size in 2020 was $8.56 billion, and it is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028. Market growth is mainly driven by a shift from consumer behavior to sustainability. The growth in demand for rPET is mainly driven by the increase in downstream demand for fast-moving consumer goods, clothing, textiles, and automobiles.
The relevant regulations on disposable plastics released by the European Union – starting from July 3 this year, EU member states must ensure that certain disposable plastic products are no longer placed on the EU market, which has to some extent driven the demand for rPET. Recycling companies continue to increase investment and acquire related recycling equipment.
On June 14th, global chemical producer Indorama Ventures (IVL) announced that it had acquired CarbonLite Holdings’ recycling plant in Texas, USA.
The factory is named Indorama Ventures Sustainable Recycling (IVSR) and is currently one of the largest producers of food grade rPET recycled particles in the United States, with an annual comprehensive production capacity of 92000 tons. Prior to the completion of the acquisition, the factory recycled over 3 billion PET plastic beverage bottles annually and provided over 130 job positions. Through this acquisition, IVL has expanded its US recycling capacity to 10 billion beverage bottles per year, achieving a global goal of recycling 50 billion bottles (750000 metric tons) per year by 2025.
It is understood that IVL is one of the world’s largest producers of rPET beverage bottles. CarbonLite Holdings is one of the largest food grade rPET recycled particle manufacturers in the United States.
IVL’s PET, IOD, and Fiber business CEO D KAgarwal said, “This acquisition by IVL can supplement our existing PET and fiber business in the United States, better achieve sustainable recycling, and create a PET beverage bottle circular economy platform. By expanding our global recycling business, we will meet the growing needs of our customers
As early as 2003, IVL, headquartered in Thailand, entered the PET market in the United States. In 2019, the company acquired recycling facilities in Alabama and California, bringing a circular business model to its US business. At the end of 2020, IVL detected rPET in Europe
Post time: Oct-31-2023