Polyethylene terephthalate (PET) is one of the most common plastics around the world. Most of us are familiar with it by way of water and juice bottles. But PET is used to make a wide variety of products ranging from carpet to clothing. It is a fantastic plastic that is easily recycled time and again. So we should not be surprised to learn that PET demand is expected to grow significantly over the next 5 to 10 years.
According to a recent market overview from Expert Market Research, demand for PET products through 2027 is expected to grow at a CAGR of 6.3%. Much of the growth will probably be attributable to more plastic packaging being made from PET.
We consider the news good for us inasmuch as we recycle baled PET plastic bottles. It is good for you because it means an ongoing demand for the PET bottles and other items your company disposes of. In fact, you might want to contact us if you are located in any of the seven states where we collect industrial plastic waste. Perhaps we can take those baled PET bottles off your hands.
Consumers Want PET
It is interesting to note what is actually driving the demand for PET. It’s not companies or local and state governments as much as it is consumers themselves. According to Expert Market Research, consumers want to see more plastic packaging made of PET instead of other plastics. Consumers say that they prefer PET because it is “lighter and easier to handle.”
Manufacturers are fond of PET because it is durable, reliable, and cost-effective. They know it can be easily recycled as long as it remains uncontaminated. So if consumers want PET, manufacturers are more than happy to give it to them. Once again, this is all good for us as a recycler of industrial plastic waste.
Turning PET into Regrind
The beauty of PET is how easily it can be recycled. When we collect baled plastic bottles, we do so with one objective in mind: reducing the bottles to a plastic regrind product. PET can be reduced to flakes or chips, then combined with virgin plastic to make new products. Our job is the reduction part of the equation. We turn around and sell the regrind to manufacturers.
We can make a viable business from recycling PET because the process is so simple. However, it requires that the plastic be uncontaminated. This is why we only collect already baled plastic bottles. It is also why we require that those bottles be contaminate-free. The minute we start dealing with contaminated plastic is the very minute that recycling PET no longer makes financial sense.
Reducing Other Plastic Packaging
Learning that PET demand will grow by more than 6% over the next five years leads us to thinking about new business opportunities. More PET is good for us in the sense that it gives us more product to work with. We will never turn away plastic waste that we can turn into a revenue stream.
Meanwhile, higher consumer demand for PET may mean a reduction of other types of plastic packaging. That would not necessarily be a bad thing. If we can collectively eliminate some of those plastics that are harder and less profitable to recycle, we could actually make a big dent in the amount of plastic that ends up in landfills.
Consumers demanding more PET is a good thing. It is good for your business and ours. We are looking forward to seeing how much the market grows over the next several years.