Moreover, the report also provides insights on the typical required investment in setting up a recycling unit taken all the possible factors into consideration. It also includes information on the major macro-economic indicators affecting the market and future outlook of the recycling PET Industry in India. The concern for Recycled PET (RIPE) has escalated in the recent years. PET bottles, which form the major market of PET packaging resin (94%), are the most Important from the point of recycling.
More than 90% of PET Is consumed In food packaging with drinks/beverages forming almost 80% of the food packaging segment. Since drinks and beverages are consumed mostly In residential houses, railway stations, restaurants, entertainment venues, airports and other public places, the importance of organized collection and recycling of post-consumer PET bottles needs to be over emphasized. It has been witnessed that the recycling of PET has been widely growing in India major during the last couple of years.
Besides the markets for bottle-to-bottle recycling, more and more of PET are being used in the manufacture of fibers, PET sheets and PET straps. Currently, it has been observed that the textile fibers and elements Industries account for above of the overall recycled polyester demand. Further growth In this segment Is limited owing to lower profit margins, which are augmenting the usage of recycled PET Into the food and nonfood containers, industrial yarn, mono filaments, strapping, film, sheet, and building materials such as foam boards which are becoming the targeted end markets for recycled PET flakes.
India Recycling PET Industry includes Recycled PET Staple Fiber, Recycled PET straps and Recycled PET Sheets/Films. In PAYOFF, driven by the growing demand for PET lakes as well as surge in the production of fibers and sheets, has increased the recycled PET market revenues by compared to PAYOFF. This positioned the market revenues at INNER -? million, which escalated in the successive year to INNER -? million, by growing at an annual growth rate of 29. 9% relative to PAYOFF.
The recycling PET Industry In India has been largely dominated by the PET Staple fiber segment which contributed massive share of In the overall revenues of the recycling industry during PAYOFF. The staple fiber segment has traditionally revenue. In terms of revenues, Polyester sheet has been the second largest market of he recycled PET industry which contributed a nominal share of during A”2014. The reason for contributing a low share has been primarily due to PET sheets being a quality sensitive product wherein the producers largely use virgin polyester in order to manufacture PET sheets/films.
