India’s Polyethylene Terephthalate (PET) recycling industry which has the world’s largest raw material capacity invested Rs 10,000 crore during the last three years and is looking forward to double that in the near future, recycling companies stated.
India recycles as many as 95 percent of PET bottles every year with the capacity PET with the capacity of five lakh tonnage. He said that the policies on the part of the government, including the requirement for 30 percent recycled content in plastic packaging by 2025, have contributed to the investment, mentioned Bhadresh Dodhia, Director of the Association of PET Recyclers (Bharat).
The plastics recycling market of India currently standing at 9.9 million tonnes in 2023 is expected to reach 23.7 million tonnes by 2032 with a CAGR of 9.86 percent. Experts put focus on technology, food-grade ARPET granules, and 50 lakh rag pickers to drive the sector.
Speaker Taher Patrawala from Media Fusion, Inc. shared insights into the private sector’s efforts toward the circular economy transition and decreasing virgin material use. Matthew Barber of Crain Communications pointed out that India recycles 60 percent of its waste, which is higher than the global average of 9 percent.
The comments were delivered at the UTECH India Sustainable Polyurethane & Foam Expo and Plastics Recycling Show India in Mumbai, where experts from the global industry, major players, and over 150 key exhibitors gathered to emphasize elaboration of sustainable trends in the sectors of polyurethane, foam and plastics recycling.
We use cookies to ensure you get the best experience on our website. Read more...
