Recycled Polyethylene Terephthalate Market Overview
The recycled polyethylene terephthalate market volume was valued at USD 8.1 billion in 2021. The recycled polyethylene terephthalate industry is projected to grow from USD 8.7 Billion in 2022 to USD 14.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.60% during the forecast period (2022 - 2030).
The surge in demand for polyethylene terephthalate (PET) in the booming textile industry and the rise in recycling rate of PET products in the fashion sector are identified as major growth inducers of the recycled pet market The food and beverage sector a high consumer of RPET as shift in consume trend towards ready-to-eat is observed, and the ingression of PET solutions in the expanding packaging sector due to rise in sales of packed food can improve the recycled polyethylene terephthalate market momentum. The expansion of professionals and hike in disposable income can add to the market upsurge. On the contrary, lack of robust technologies and rules challenging the recyclability of PET can hinder the market growth.
Recycled Polyethylene Terephthalate Market Segmental Analysis
MRFR studied the global recycled polyethylene terephthalate market by segment analysis, based on type and application. Insights into the RPET market can help investors make high return-oriented decisions.
The application-based segments of the recycled polyethylene terephthalate market are sheet & film, fiber, strapping, non-food grade bottles & containers, and food grade bottles & containers among others. The fiber segment can thrive in the study tenure by holding the maximum market share. The food grade bottles and containers segment can exhibit healthy CAGR over the analysis period, suggests MRFR analysis. The extensive application of polyester fiber in the textile production and rise in construction of plastic roads can yield high return for the market. The rise in number of market participants in the construction of plastic roads due to high durability of RPET can favor the market in the foreseeable future. In addition, the scarcity of drinking water due to lack of effective water treatment solutions. RPET is also used in the production of nanofibers and the upscaling demand for nanofibers can add thrust to the market growth pace.
The type-based segments of the recycled polyethylene terephthalate market are clear and colored. The clear segment can thrive in the near future as the preference for colored RPET is high due to its superior quality The rise in application of clear RPET in the booming packaging industry can contribute to the expansion of the clear segment in the years ahead.
Recycled Polyethylene Terephthalate Market Regional Outlook
The recycled pet market in the Asia Pacific region can secure about 56% share of the worldwide market and is likely to surge at high CAGR. The high recycling rate in Asian regions, such as India, can accelerate the market rise in the near future. market players. Japan is expected to touch decent market value by 2028. However, India is observed to hold strong growth opportunities as it has emerged as an investment-centric market due to high textile production.
In Europe, the recycled polyethylene terephthalate market is expected to hold lucrative market in the foreseeable future. Germany is identified as the most promising region The expansion of EU market can be attributed to the extensive production and export of textiles. Moreover, increase in plastic waste and the need for recycling can boost EU RPET market.
In North America, the recycled polyethylene terephthalate market is expected to be headed by the US as numerous plastic solution supplier are present in the region. MRFR study states that Latin America is expected to secure 9.9% market share in the review period. Economic reforms and industrialization in can favor the RPET market in Brazil, Argentina, and Mexico.
In the Middle East and Africa, the recycled polyethylene terephthalate market can show steady rise due to less awareness about recycling. However, rise in consumption of plastic and benefits of plastic recycling can open numerous growth opportunities for the regional RPET market.
Recycled Polyethylene Terephthalate Market Key Players
- Placon
- Clear Path Recycling
- Verdeco Recycling
- Indorama Ventures Public Company
- Zhejiang AnshunPettechs Fiber
- Evergreen Plastics
- Montello S.p.A
- Phoenix Technologies
- M&G Chemicals
- and LIBOLON
Get Sample Report @
https://www.marketresearchfuture.com/sample_request/5812
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
