Dive Brief:
- The plastic bottle recycling market in the U.S. will grow by 3.7% compound annual growth between 2014 and 2019, according to a report by Research and Markets, which is based in Ireland.
- The report details the state of the market and its expected growth in upcoming years. "Plastic Bottle Recycling Market in the U.S. 2015-2019" was created based upon market analysis, with help from industry experts, according to Research and Markets.
- An analyst from the Research and Markets team said the demand is growing for plastic and related products in the U.S., and is being driven partly by the benefits of plastics as compared to benefits of metals.
Dive Insight:
According to the report, increasing demand for plastics in industries such as healthcare, oil and gas, construction, automotive, and other sectors has boosted production of plastic bottles. The recycling industry also has grown a lot in the past decade, which also has helped spur growth in the market for recycled plastic.