Recycled Polyethylene Terephthalate (rPET) Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Recycled Polyethylene Terephthalate (rPET) Market grew at a CAGR of 9.0% between 2017-2021 and is estimated to be US$ 6,220.4Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 9.6% and is expected to reach a valuation of US$ 15,556.9Mn by 2032 end.
PET (recycled polyethylene terephthalate) is a transparent, durable, recyclable plastic. PET plastic is 100% recyclable, adaptable, and made to be manufactured again. Purified terephthalic acid and modified ethylene glycol were combined to generate this substance, which is essentially a polymer. It is common practice to melt and spin PET bottles and containers into fibers for carpeting or fiberfill. Additionally, PET can be recycled into its actual usage if recovered in a sufficiently pure state.
Additionally, techniques for dissolving polymers into their chemical precursors for resynthesizing PET have been developed. Businesses realize the value of recycling PET to create new beverage containers and other food-grade items. Coca-Cola wants to employ 50% recycled PET in its bottles by 2030. Even though food-grade processing has been established, efforts are being made to improve processing technology efficiency.
ChemView Consulting has analyzed that consumer views toward plastic trash are changing, and this increased awareness fuels the consumer movement. Recycling rates are rising as society grows more aware of and aggressive in its attempts to eliminate plastic waste. Additionally, as consumers become more conscious of sustainability, there is a growing demand for recyclable packaging to promote a circular economy focused on recycling and reuse.
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Since they help prevent leaks and protect buildings from extremely high and low temperatures, sheets and films for roof flooring are becoming increasingly popular. Additionally, they provide the roof with a smooth texture and require less paint and cement to finish the project with a better aesthetic appeal.
Segments Covered in Report
By Product:
- Clear
- Colored
By End-Use:
- Fiber
- Sheet and Film
- Strapping
- Food & Beverage Containers and Bottles
- Non-food Containers and Bottles
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Recycled Polyethylene Terephthalate (rPET) Market
- Based on the end-user, since they help prevent leaks and protect buildings from extremely high and low temperatures, sheets and films for roof flooring are becoming increasingly popular. Additionally, they provide the roof with a smooth texture and require less paint and cement to finish the project with a better aesthetic appeal.
- Based on the product, the clear segment had the highest revenue share—more than 75.06%. Over the projected period, the clear recycled PET market is anticipated to be driven by low energy requirements and straightforward bottle-to-bottle recycling. Due to its strength, lightweight, non-reactive, and shatterproof qualities, the clear rPET market is anticipated to rise rapidly throughout the forecast period.
- Based on the region, due to major F&B firms’ sustainable packaging goals, which are increasing expenditures in recycling infrastructure in nations in this area, especially in China, Japan, South Korea, and India, the Asia Pacific market accounted for the greatest revenue share of 44.3%. The number of PET sheet production lines in China has increased dramatically in the previous two years.
Competition Summary
Key companies covered in the market study are Placon; Clear Path Recycling LLC; Verdeco Recycling, INC.; Indorama Ventures Public Ltd.; Zhejiang Anshun Pettechs Fibre Co., Ltd.; Polyquest; Evergreen Plastics, Inc.; Phoenix Technologies; Libolon; Biffa
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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