Recycled Polyethylene Terephthalate Market Outlook, Pricing Strategies, Forecast and Top Manufacturers Analysis Report

Recycled Polyethylene Terephthalate Market
Recycled Polyethylene Terephthalate Market

According to the most recent analysis by Emergen Research, the global market for recycled Polyethylene Terephthalate (RPET) was valued at USD 2.1 billion in 2021 and is anticipated to grow at a rate of 15.8% over the projected period. Market revenue growth is primarily being driven by rising demand for recycled PET from various end-use sectors and a move toward sustainability. High consumer demand for sustainable packaging is being driven by rising consumer awareness of sustainability and attention to the circular economy. Major businesses are launching campaigns to advance the circular economy. For instance, PepsiCo anticipates recycling about 75% of packaging trash by 2030, whereas Evian anticipates using recycled plastics for 100% of their plastic usage by 2025.

Numerous potential prospects in the RPET market are anticipated as a result of such endeavours for environmentally friendly packaging materials. Coca-Cola Trademark brands (Coke, Diet Coke, Coke Zero Sugar, and Coca-Cola Flavors) announced on September 2, 2021, the introduction of a 13.2-oz. container made entirely of recycled PET (rPET) plastic in Florida, California, and a few Northeastern states. These initiatives are anticipated to collectively cut greenhouse gas emissions in the United States by about 10,000 metric tonnes per year.

The extensive application scope of rPET in various important application industries, including FMCG, consumer goods, clothing and textile, and automotive, is the main reason boosting demand in the region. Numerous government programmes promoting plastic recycling, together with significant financial investments, have contributed to the region’s industry expanding moderately. Despite substantial investments, the majority of post-consumer PET bottles are shipped to Southeast Asian nations for recycling before being reimported to the corresponding country in North America in the form of new bottles made from recycled PET.

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Some Key Highlights From the Report

In 2021, the category for flakes had a significantly higher revenue share. One of the main drivers anticipated to propel this segment’s revenue growth throughout the forecast period is the rising demand for rPET for a variety of end-use applications, including food-grade packaging, film reels, vehicle seats and coverings, conveyor belts, and Polyester Staple Fiber (PSF). Due to their environmental sustainability, the majority of recycled PET flakes generated are used for staple fibre applications in the textile industry, including upholstery, apparel, and texturized yarn. Recycled PET is lighter than a number of raw material substitutes, such as glass, and its manufacture emits much fewer emissions than that of other virgin materials. It is also in high demand in the Fast Moving Consumer Goods (FMCG) industry.

Over the projected period, revenue from the clear segment is anticipated to increase steadily. During the projection period, the demand for clear recycled PET is anticipated to be driven by a number of important factors, including the simplicity of bottle-to-bottle recycling, durable packaging, decreased carbon footprint, and low energy usage during manufacture. Consumers can examine products more easily in clear packaging, which boosts sales. The increased demand for rPET in a variety of industries, including FMCG and packaging for personal care, cosmetics, and pharmaceutical products, is largely due to its durability, light weight, and protective properties.

In 2021, the segment for bottles and containers had a sizably large revenue share. The availability of virgin plastic materials for containers, as well as large firms’ growing commitment to sustainability and CSR initiatives, are driving the segment’s rise.

Placon, Clear Path Recycling, Indorama Ventures Public Company Limited, MG Chemicals, Verdeco Recycling, Loop Industries, Inc., PolyQuest, Inc., Phoenix Technologies Inc., Evergreen, and Biffa are a few of the significant firms mentioned in the global market study.

Emergen Research has segmented the global recycled PET market on the basis of type, product, source, application, and region:

  • Type Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)

    • Flakes
    • Chips
  • Product Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)

    • Clear
    • Colored
  • Source Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)

    • Bottles & containers
    • Films & sheets
    • Others
  • Application Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)

    • Bottles & containers
    • Fiber
    • Strapping
    • Sheet & film
    • Others
  • Regional Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)

    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. U.K.
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of MEA

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