The technology presents a simple and eco-friendly PET chemical recycling method to recycle PET waste. With increasing awareness of global warming and carbon emissions, there are more interest to contribute towards saving the environment. The plastic recycling market, specifically the PET sector, is one area which companies are developing technologies to help recycle the waste produced.
PET recycling is usually conducted via mechanical or chemical method. Mechanical method is relatively inexpensive and produce PET flakes after treatment. Chemical method has the benefit of treating all types of PET waste unlike mechanical method.
The technology utilizes chemical recycling technology to recycle PET waste into feedstock for higher value goods.
The technology utilizes the PET chemical recycling method to treat PET waste. This method enables waste to be recycled into valuable feedstock. Additionally, the use of chemical recycling method allows all types of PET waste to be treated unlike PET mechanical recycling method.
The glycolysis method utilized in the chemical recycling technology is widely used in PET recycling as it can be conducted over a broad range of temperature. Furthermore, this method can produce Oligomer and Polyol which are valuable raw materials for value-added goods.
The technology is also easy to operate and eco-friendly. It can be used in complement to PET mechanical recycling method.
The global plastic recycling market is forecasted to grow at a CAGR of 6.5% from 2017 to 2023, with market size projected to reach US$54bn by 2023. In addition, PET market occupies a significant market share in the plastic market, expected to reach a market value of US$38bn by 2023. These indicate significant potential growth and opportunities in the PET recycling market to maximize PET waste.