Recycled Polyethylene Terephthalate Market Will Estimates to Surpass USD 13.43 Billion at a CAGR of 6.90% By 2028 | Reports and Data

Recycled Polyethylene Terephthalate Market Will Estimates to Surpass USD 13.43 Billion at a CAGR of 6.90% By 2028 | Reports and Data
Recycled Polyethylene Terephthalate Market
Recycled Polyethylene Terephthalate Market : The elevating demand for Recycled Polyethylene Terephthalate in Food and Beverages industry

The global recycled polyethylene terephthalate (rPET) market is forecast to reach USD 13.43 Billion by 2028, according to a new report by Reports and Data. Polyethylene terephthalate (PET) can be described as a highly recyclable plastic resin and a type of polyester. Primarily, the material formed is polymer that is made by integrating modified ethylene glycol and purified terephthalic acid, both of which are monomers. The bottles or containers, on the bottom of which, it has a #1 code denotes that it is made out of PET. It is widely used as a packaging material in products like beverages, frozen foods, bakery goods, and household cleaners, among others. It is mentionable here that PET is the most commonly recycled plastic across the globe. When PET is completely recycled, recycled polyethylene terephthalate (rPET) is formed.

In context to region, Europe can be seen to occupy a prominent market share. The market share held by this region is attributed to increasing emphasis on waste management, formulation of directives like Packaging and Packaging Waste Directive, and continuous expansion of the food & beverage industry along with associated growing demand for rPET in Europe. 

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Top Companies: Verdeco Recycling, INC, Placon, Clear Path Recycling LLC, M&G Chemicals, Indorama Ventures Public LTD., Polyquest, Zhejiang Anshun Pettechs Fibre Co., Ltd., Phoenix Technologies, Evergreen Plastics, Inc. and Libolon.

Further key findings from the report suggest

  • The Recycled Polyethylene Terephthalate market held a market share of USD 89 Billion in the year 2018 that is forecasted to grow at a rate of 6.9% during the forecast period.
  • In context to Product Type, the Clear recycled PET segment generated a higher revenue of USD 4.75 Billion in 2018, with a CAGR of 7.2% during the forecast period. Its traits like durability, strength, low processing cost, along with extensive use of PET bottles across the globe, contribute to the revenue generated by this segment.
  • In context to Processing & Collection Methods, the Curbside Recycling segment yielded the highest revenue of USD 3.65 Billion in 2018, with a growth rate of 7.0% during the forecast period. The revenue generated by the segment is attributed to the extensive application of this method in the collection of PET. Its benefits like periodic collection of material i.e., availability of collection service every-other-week, presence of recycling carts in different sizes, scope of opting for additional cart at no extra cost, results in increasing preference among the users.
  • In context to End-use, the Fiber segment held the largest market share of 45.0% in 2018, with a CAGR of 7.3% during the forecast period. The extensive application of these fibers in manufacturing cushions, mattresses, insulation products, and car seating contributes to the market share occupied by this segment. Furthermore, elevated demand of these fibers in various industries like automobile, clothing & accessories, FMCG, and home furnishing sectors also contributes to the market share held by this segment.
  • In regards to the region, North America held 0% of the market in 2018, with a growth rate of 6.9% during the forecast period. Factors like technological advancements in recycling techniques and rigid government regulations on environmental pollution contributes to its market share held by this region.

Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)

  • Colored
  • Clear

Processing & Collection Methods Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)

  • Curbside Recycling
  • Recycling Banks
  • Recycling Drives

End-use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)

  • Sheet & film
  • Fiber
  • Food & beverage bottles & containers
  • Strapping
  • Non-food bottles & containers
  • Others

Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of the Recycled Polyethylene Terephthalate Market

– Changes in industry market dynamics

– Detailed market segmentation by type, application, etc.

– Historical, current and projected market size in terms of quantity and value

– Recent industry trends and developments

– Competition situation of Recycled Polyethylene Terephthalate Market

– Key companies and product strategies

– Potential niche segment/region showing promising growth.

Finally, the Recycled Polyethylene Terephthalate Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.

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