Overview and Scope
Polyethylene terephthalate (PET) is a recyclable plastic resin. It is actually a polyester, created by the mixture of two monomers, namely, modified ethylene glycol and purified terephthalic acid. PET is often recycled into new PET containers, carpet, clothing, protective packaging, industrial strapping, automotive parts, construction materials, tennis balls, and tennis ball canisters.
Sizing and Forecast
The recycled polyethylene terephthalate market size has grown strongly in recent years. It will grow from <b>$9.89 billion in 2023 to $10.84 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. </b> The growth in the historic period can be attributed to demand for sustainable and recycled plastics, growth in beverage and food packaging, expansion of pet recycling infrastructure, development of rpet manufacturing processes, regulatory standards for plastic recycling..
The recycled polyethylene terephthalate market size is expected to see strong growth in the next few years. It will grow to <b>$15.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. </b> The growth in the forecast period can be attributed to customized rpet solutions for specific product applications, integration of rpet in 3d printing and additive manufacturing, sustainable and circular economy practices in rpet production, expansion in the automotive sector for rpet components, adoption of rpet in cosmetics and personal care packaging.. Major trends in the forecast period include regulatory compliance in rpet safety and recycling standards, smart and traceable rpet products, personalized rpet solutions for brands and consumers, transparency in rpet material sourcing and supply chain, integration of ai for quality control in rpet production..
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Segmentation & Regional Insights
The recycled polyethylene terephthalate market covered in this report is segmented –
1) By Product: Clear, Colored
2) By Application: Fiber, Sheet and Film, Strapping, Food & Beverage Containers and Bottles, Non-Food Containers and Bottles
3) By End-Use Industry: Packaging, Electrical & Electronics, Automotive, Construction
<b>Asia-Pacific</b> as the largest region in the recycled polyethylene terephthalate market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the recycled polyethylene terephthalate market share the during the forecast period. The regions covered in the recycled polyethylene terephthalate market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in demand for sustainable packaging solutions is driving the growth of the recycled polyethylene terephthalate market. According to Placon, the leading designer and manufacturer of plastic thermoforming and injection-molded packaging, the coming decade will see the collection of post-consumer beverage bottles reach close to 100%. Recycling is critical to a sustainable future as it delivers fewer greenhouse gases and generates less waste. Global brands are including more and more recycled content in their packaging to meet consumer demands. The most popular and widely used brands, like Coca-Cola, PepsiCo, Unilever, Danone, and Nestle, have all made commitments to include up to 100% recycled plastic in their packaging. These companies recognize the value of PET, not just from an economical standpoint but also from a holistic sustainability standpoint. Major FMCG (fast-moving consumer goods) brands such as PepsiCo, Nestle, Coca-Cola, Mars, and Unilever are challenging their suppliers to achieve the target of 100% compostable, reusable, and recyclable packaging by 2025.
Key Industry Players
Major companies operating in the recycled polyethylene terephthalate market include <b> Placon Corporation, Antares Chem Private Limited, BariQ Ltd., Clear Path Recycling LLC, Evergreen Plastic Container Inc., Indorama Ventures Public Company Limited, Lealea Enterprise Co. Ltd., M&G Chemicals S.A, Montello Spa, Phoenix Technologies Ltd., PolyQuest Inc., Verdeco Recycling Midwest Inc., Zhejiang Anshun Pettechs Fibre Co. Ltd.,, , Alpek SAB de CV, Cooperativa Central Aurora Alimentos Ltd., CarbonLite Industries LLC, Denton Plastics Inc., Extrupet Pty Ltd., Loop Industries Inc., LyondellBasell Industries NV, MFX do Brasil Equipamentos de Petróleo Ltd., Mohawk Industries Inc., PetStar Holding Company SA, Plastipak Holdings Inc., Polindo Utama, rPlanet Earth, Starlinger & Co. GmbH, The Coca-Cola Company, UltrePET LLC, Unifi Inc., Vanden Global Ltd., Verallia UK Ltd., Wellman Plastics Recycling LLC </b>
The recycled polyethylene terephthalate market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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