According to a new market research report, the “Recycled PET Market by Type (Flakes, Chips), Grade (Grade A, Grade B), Source (Bottles & Containers, Films & sheets), Application ( Bottles, fiber, Sheets, Strapping), and Region (APAC, North America, Europe, MEA, South America)- Global Forecast to 2026″, size is expected to grow from USD 8.9 billion in 2021 to USD 11.7 billion by 2026, at a CAGR of 5.7% during the forecast period. The driving factors for the recycled PET market is increasing penetration of recycled PET in the bottles, sheets, fiber and other applications throughout the world. An increasing trend in terms of collection, domestic recycling, recovery of PET, export of PET waste, and implementation of legislative regulations has been witnessed in the market for RPET. These activities have contributed significantly to the growth in demand for RPET in various applications such as food & beverage bottles, textile fiber, and strapping.
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- 504 Market data Tables
- 41 Figures
- 287 Pages and in-depth TOC on “Recycled PET Market — Global Forecast to 2026″
This report also provides a comprehensive analysis of the companies listed below:
Indorama Ventures Public Limited (Thailand), Biffa (UK), Far Eastern New Century Corporation (Taiwan), Plastipak Holdings Inc (US), Alpek (Mexico), among others.
These companies adopted new product launch, expansion, agreements & contracts and merger & acquisition, as their key growth strategies between 2016 and 2021 to earn a competitive advantage in the recycled PET market.
COVID-19 Impact on the Recycled PET Market
The global Recycled PET market includes major Tier I and II suppliers like Indorama Ventures Public Limited (Thailand), Biffa (UK), Far Eastern New Century Corporation (Taiwan), Plastipak Holdings Inc (US), Alpek (Mexico), These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and Rest of the World. COVID-19 has impacted their businesses as well.
The global Recycled PET market is expected to witness a slight decrease in its growth rate in 2020–2021, as the plastic recycling activities are slowed down by the covid-19 pandemic. The pandemic has led to hindrance in production in several Recycled PET producing countries that are under lockdown. APAC and Europe are the leading producers of Recycled PET for various end-use industries. All these factors have led to disruption in the supply chain of the Recycled PET market as operations have slowed down in many manufacturing units.
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Indorama Ventures Public Ltd. is one of the largest player in the recycled PET market. It is a world-class sustainable chemicals company with a global integrated lead in PET and fibers. It has integrated businesses which are aligned to create a sustainable value proposition. It is one of the world’s foremost-integrated producers in the polyester industry and the largest producer of PET. The company has 273 recycling facilities and 124 manufacturing sites all over world. It is present in Europe, North America, South America, APAC, and Africa.
Biffa is the second-largest player of the recycled PET market, globally. Biffa opened its new state-of-the-art PET plastic bottle recycling facility in Seaham, County Durham in 2020 The plant can convert 57,000 tons PET plastic per year, equivalent to 1.3 billion plastic bottles. PET, or polyethylene terephthalate, is a commonly used material for packaging soft drinks, as it is lightweight, durable, and highly recyclable, producing significantly lower carbon emissions than its alternatives.
The global Recycled PET Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the recycled pet market include PLACON, Clear Path Recycling LLC, Verdeco Recycling, Inc., M Chemicals, Zhejiang Anshun Pettechs Fibre Co., Ltd., PolyQuest, Evergreen Plastics, Inc., Phoenix Technologies, Libolon.
These products being highly functional, cost-effective, and often stylish, will be sought after in various applications, from reusable carry bags to roof insulation in the coming years.
Recycled PET gaining traction in the textile industry as a sustainable alternative to polyester will enhance the market growth.
Emerging entrepreneurs looking at recycled PET for insulation, high-quality merchandise, uniforms will be a market booster.
