SEATTLE (Recycling Monster): A recent research report predicts notable growth to global PET bottle recycling market during the period from 2024 to 2028. According to the report, the market size is projected to touch $8,048.4 million by the end of the forecast period. This compares with the market which was valued at $5,847.84 million in 2022. This translates to a CAGR growth of 5.47% during the forecast period.

The report outlines barriers and challenges that may hinder market growth. Some of these include intense competition, supply chain disruptions, changing market dynamics, or legal and regulatory constraints. The report urges businesses to recognize these challenges, in order to develop mitigation strategies to overcome their impacts.

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In addition, it also lists out factors that drive market growth, such as latest industry achievement, changing consumer preferences and innovative practices followed by the industry players.

The report also considers the impact of Covid-19 pandemic and the Russia-Ukraine crisis on the global PET bottle recycling market.

Some of the major players featured in the report are Ultrepet LLC, Krones AG, Plastipak Holdings Inc., PolyQuest, Pheonix Technologies, Indorama Ventures, Schoeller Group,. CarbonLITE Industries and Clear Path Recycling.