Recycled Polyethylene Terephthalate Market Size, Share, Growth, Forecast 2030

Global Recycled Polyethylene Terephthalate Market Overview

The Global Recycled Polyethylene Terephthalate market accrued earnings worth approximately 8.57 (USD Billion) in 2020 and is predicted to gain revenue of about 14.85 (USD Billion) by 2028, is set to record a CAGR of nearly 6.8% over the period from 2021 to 2028.

The report offers an assessment and analysis of the Recycled Polyethylene Terephthalate market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Recycled Polyethylene Terephthalate Market: Overview

Recycled PET is a kind of synthetic compound manufactured from used polyethylene terephthalate items and finds massive applications in myriad end-use sectors. The resins produced from recycled PET bottles are one of the major forms of recycled PET. Apart from this, recycled PET is utilized for making products such as fibers for polyester carpets, clothes for T-shirts, elongated underwear, luggage upholstery, athletic shoes, and sweaters. In addition to this, the product is also used in fiberfill for sleeping bags & winter coats, industrial strapping sheets, films, and vehicle components including luggage sacks, fuse boxes, grilles, door panels, bumpers, and PET containers for non-food items and food items.

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Recycled Polyethylene Terephthalate Market: Growth Drivers

Recycled PET is utilized massively in the fiber sector as it is highly sensitive to heat degradation & degradation from pollutants like PVC. Moreover, recycling of PET varies from each country. For instance, in Europe, Germany recycles nearly half of PET. Apart from this, countries such as Belgium, France, Holland, the UK, and Italy have been very active in recycling activities. All these aforementioned aspects will steer recycled polyethylene terephthalate industry growth in the upcoming years. Growing concerns pertaining to sustainability of natural resources in emerging economies in Europe and North American sub-continents will drive recycled polyethylene terephthalate market trends. Nonetheless, huge carcinogenic compound emission can put brakes on market growth.

Furthermore, tilting government preference towards setting up of recycling PET units in countries such as Indonesia, China, Vietnam, Thailand, and India will prop up product penetration in Asia Pacific zone in the foreseeable future. Apart from this, escalating use of the product in packaging sector will benefit recycled polyethylene terephthalate industry over the forecasting timeline. Humungous use of recycled PET in food & beverages as well as non-food packaging products will increase market size over assessment period.

Large-scale awareness pertaining to plastic recycling along with supportive government laws associated with recycling of plastic materials will proliferate business space in the next couple of years. Low costs of production in comparison to other kinds of polymers and increase product usage in myriad sectors will scale up recycled PET market expansion. High demand for packaged food items & bottled drinks will accelerate recycled polyethylene terephthalate industry surge over forthcoming decade.

Recycled Polyethylene Terephthalate Market: Report Scope

Competitive Landscape

Key participants profiled in the study include Zhejiang Anshun Pettechs Fibre Co., Ltd., Evergreen Plastics, Inc., PLACON, PolyQuest, Clear Path Recycling LLC, M&G Chemicals, Verdeco Recycling, Inc., Phoenix Technologies, and Libolon.

Regional Landscape

European Market To Record Massive Growth Over 2021-2028

The regional market growth over forecast timeline is due to presence of various multinational brands in the continent. In addition to this, humungous demand for pellets, bales, and flakes will embellish regional market trends. Reportedly, European Governments have set target of nearly 54.5% plastic recycling by 2030. Moreover, Germany, France, UK, Holland, and Belgium are anticipated to be some of the major regional revenue pockets.

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Recycled Polyethylene Terephthalate Market: Competitive Space

The global Recycled Polyethylene Terephthalate market profiles key players such as:

• Zhejiang Anshun Pettechs Fibre Co., Ltd
• Evergreen Plastics, Inc
• PLACON
• PolyQuest
• Clear Path Recycling LLC
• M&G Chemicals
• Verdeco Recycling, Inc
• Phoenix Technologies
• Libolon

The global Recycled Polyethylene Terephthalate Market is segmented as follows:

By End-Use

• Fibers
• Food & Beverage Containers

By Product

• Cleared
• Colored

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa