Recycled Polyethylene Terephthalate Market Size, Share, Growth and Forecast 2032

Recycled Polyethylene Terephthalate Market Insights

According to Zion Market Research, the global Recycled Polyethylene Terephthalate Market was worth USD 448.22 Billion in 2023. The market is forecast to reach USD 719.54 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Recycled Polyethylene Terephthalate Market industry over the next decade.

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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.

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.

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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

Recycled Polyethylene Terephthalate Market: Regional Landscape

European Market To Record Massive Growth Over 2024-2032

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