Recycled PET market is growing rapidly as more companies and governments are recognizing the benefits of using this sustainable material. RPET can be used in a wide variety of applications, including food & beverage bottles, textile fiber, and strapping. RPET is made from post-consumer plastics that have been collected and recycled. This helps to reduce the amount of plastic waste that ends up in landfills and oceans. It also reduces the need for new raw materials, which can be harmful to the environment. The increasing trend in terms of implementation of legislative regulations, collection, recovery of PET, domestic recycling, and export of PET has been witnessed in recycled PET market. These activities have contributed significantly to the growth in demand for RPET in various applications such as food & beverage bottles, textile fiber, and strapping.
Asia Pacific to Dominate Recycled PET Market
The Asia-Pacific region has become one of the largest producers of plastic waste because of the rapid industrialization and urbanization. To reduce this waste issue, countries like India and China have introduced a Plastic Waste Management Market (PWMM) Program which encourages people to buy products made with RPET. For Instance, Indian Government also mandated that manufacturers must use 25% recycled content by 2017, increasing to 40% by 2022. This move will not only significantly increase demand for RPET but will also create job opportunities in the recycling sector.
Asia-Pacific recycled PET market will account for more than 46% of global PET demand by 2025. This is largely due to the increase in demand from China and India. The two countries are expected to account for over 60% of the region's RPET demand by 2021. This is good news for the recycling industry as it will help reduce the amount of plastic waste going into landfills and oceans. The growth of the recycling industry is also helping to create jobs and boost economies. In India, for example, there are now over 1,000 recycling companies employing more than 100,000 people. These companies are helping to turn recycled plastic into new products, such as clothing, furniture, and building materials.
Recycled PET Marker Driver: Increasing Awareness Among Consumers and Manufactures
The recycling of PET has been gaining ground in recent years, as consumers and companies alike have become more environmentally conscious. This is evident by the rising number of recycled PET products hitting store shelves. A growing number of beverage brands are now using recycled PET to make their bottles. For example, Coca-Cola announced earlier this year that it plans to use 50% recycled content in all its PET bottles by 2025. Similarly, PepsiCo says it will reach 25% recycled content in all its PET bottles by 2025.
There are numerous reasons for this trend in the global recycled PET market. For one, recycled PET is a sustainable resource that can help reduce greenhouse gas emissions. What's more, using recycled PET helps conserve energy and natural resources. It also reduces the amount of waste that ends up in landfills. In addition to beverage brands, a number of other companies are also using recycled PET in their products. For example, Adidas announced last year that it will use recycled PET in all its sportswear products by 2024. Nike has also pledged to use more recycled materials in its products.
Widening Application Area to Boost Growth of Recycled PET Market
Reducing the environmental impact of plastic packaging is an increasingly important goal for both manufacturers and consumers. The circular economy, where materials are used over and over again, minimizes waste production while ensuring that products are made to last. One way to do this is through recycling. Adding recycled content into virgin plastics makes them stronger, more durable and less likely to end up in landfills or oceans. And because plastic has a long history of being one of the world’s most versatile materials, it would seem intuitive that recycling could be an effective way to tackle these issues.
There are often discrepancies between local programs and global averages. Clear information about which plastics can be collected for recycling and how that impacts the environment is necessary if we want to see more widespread uptake of this practice at an industrial scale. Despite these challenges, plastic recycling is becoming more common. In some cases, it’s even being used to create new products. PET, or polyethylene terephthalate, is a type of plastic made from recycled materials that has been increasingly used in the production of beverage containers and packaging.
Key Challenges in Recycled PET Market
As recycled PET becomes more popular, manufacturers and consumers alike face new challenges. The biggest challenge is making sure that the recycled PET is clean and free of contaminants. Another challenge is ensuring that the recycled PET meets the same quality standards as virgin PET.
Recycled PET market is witnessing a significant growth momentum as the product can be used to make a variety of products, including beverage bottles, food containers, and automotive parts. It can also be used to make new PET bottles, which are indistinguishable from those made with virginPET. However, recycled PET tends to be less rigid than virginPET, so it is not suitable for all applications. Moreover, manufacturers also have to take into account the environmental impact of using recycledPET. Recycling plastic requires energy and emits greenhouse gases, so it is not necessarily the most sustainable choice. Recycled PET has some downsides, so it may not be appropriate for all products. But many manufacturers see it as an improvement over virginPET—and a step in the right direction toward more sustainable manufacturing practices.
Key Players
Some of the prominent players in the global recycled PET market are Alpek (Mexico), Plastipak Holdings Inc (US), Indorama Ventures Public Limited (Thailand), Far Eastern New Century Corporation (Taiwan), and Biffa (UK).
Regional Classification of the Global Recycled PET Market is Listed Below:
North America
- U.S.
- Canada
Europe
- Germany
- France
- Spain
- U.K.
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East and Africa
- GCC
- South Africa
- Rest of Middle East & Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Recycled PET Market
- Recycled PET Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value and Volume, 2018 - 2022
- Volume Consumption at Regional and Country Level, 2023 - 2030
- Market Dynamics and Economic Overview
- Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Production Output Analysis (Major Producing Regions)
- Key Trade Statistics (Import and Export)
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
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1. Executive Summary
1.1. Global Recycled PET Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Pre-covid and Post-covid Scenario
2.5.2. Supply Impact
2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Share of rPET in Parent Market
2.9. Raw Material Analysis
2.10. Economic Analysis
3. Production Output and Trade Statistics, 2018 - 2022
3.1. Recycled PET Supply-Demand Analysis
3.2. Regional Production Statistics
3.2.1. North America
3.2.2. Europe
3.2.3. Asia Pacific
3.2.4. Latin America
3.2.5. Middle East & Africa
4. Price Trends Analysis and Future Projects, 2018 - 2030
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Product and By End-users
4.4. By Region
5. Global Recycled PET Market Outlook, 2018 - 2030
5.1. Global Recycled PET Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
5.1.1. Key Highlights
5.1.1.1. Flakes
5.1.1.2. Fibers
5.1.1.3. Resins
5.1.2. BPS Analysis/Market Attractiveness Analysis
5.2. Global Recycled PET Market Outlook, by End-users, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
5.2.1. Key Highlights
5.2.1.1. Packaging
5.2.1.1.1. Food & Beverage
5.2.1.1.2. Pharma
5.2.1.1.3. Personal Care
5.2.1.1.4. Misc. (Agrochemicals, etc.)
5.2.1.2. Textiles
5.2.1.3. Strapping
5.2.1.4. Footwear
5.2.1.5. Automotive
5.2.1.6. Flooring Materials
5.2.1.7. Misc. (Engineered Resins, etc.)
5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Global Recycled PET Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
5.3.1. Key Highlights
5.3.1.1. North America
5.3.1.2. Europe
5.3.1.3. Asia Pacific
5.3.1.4. Latin America
5.3.1.5. Middle East & Africa
5.3.2. BPS Analysis/Market Attractiveness Analysis
6. North America Recycled PET Market Outlook, 2018 - 2030
6.1. North America Recycled PET Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
6.1.1. Key Highlights
6.1.1.1. Flakes
6.1.1.2. Fibers
6.1.1.3. Resins
6.2. North America Recycled PET Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
6.2.1. Key Highlights
6.2.1.1. Packaging
6.2.1.1.1. Food & Beverage
6.2.1.1.2. Pharma
6.2.1.1.3. Personal Care
6.2.1.1.4. Misc. (Agrochemicals, etc.)
6.2.1.2. Textiles
6.2.1.3. Strapping
6.2.1.4. Footwear
6.2.1.5. Automotive
6.2.1.6. Flooring Materials
6.2.1.7. Misc. (Engineered Resins, etc.)
6.3. North America Recycled PET Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
6.3.1. Key Highlights
6.3.1.1. U.S.
6.3.1.2. Canada
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Recycled PET Market Outlook, 2018 - 2030
7.1. Europe Recycled PET Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
7.1.1. Key Highlights
7.1.1.1. Flakes
7.1.1.2. Fibers
7.1.1.3. Resins
7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2. Europe Recycled PET Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
7.2.1. Key Highlights
7.2.1.1. Packaging
7.2.1.1.1. Food & Beverage
7.2.1.1.2. Pharma
7.2.1.1.3. Personal Care
7.2.1.1.4. Misc. (Agrochemicals, etc.)
7.2.1.2. Textiles
7.2.1.3. Strapping
7.2.1.4. Footwear
7.2.1.5. Automotive
7.2.1.6. Flooring Materials
7.2.1.7. Misc. (Engineered Resins, etc.)
7.3. Europe Recycled PET Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
7.3.1. Key Highlights
7.3.1.1. Germany
7.3.1.2. France
7.3.1.3. U.K.
7.3.1.4. Italy
7.3.1.5. Spain
7.3.1.6. Turkey
7.3.1.7. Russia
7.3.1.8. Rest of Europe
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Recycled PET Market Outlook, 2018 - 2030
8.1. Asia Pacific Recycled PET Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
8.1.1. Key Highlights
8.1.1.1. Flakes
8.1.1.2. Fibers
8.1.1.3. Resins
8.2. Asia Pacific Recycled PET Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
8.2.1. Key Highlights
8.2.1.1. Packaging
8.2.1.1.1. Food & Beverage
8.2.1.1.2. Pharma
8.2.1.1.3. Personal Care
8.2.1.1.4. Misc. (Agrochemicals, etc.)
8.2.1.2. Textiles
8.2.1.3. Strapping
8.2.1.4. Footwear
8.2.1.5. Automotive
8.2.1.6. Flooring Materials
8.2.1.7. Misc. (Engineered Resins, etc.)
8.3. Asia Pacific Recycled PET Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
8.3.1. Key Highlights
8.3.1.1. China
8.3.1.2. Japan
8.3.1.3. South Korea
8.3.1.4. India
8.3.1.5. Southeast Asia
8.3.1.6. Rest of Asia Pacific
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Recycled PET Market Outlook, 2018 - 2030
9.1. Latin America Recycled PET Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
9.1.1. Key Highlights
9.1.1.1. Flakes
9.1.1.2. Fibers
9.1.1.3. Resins
9.2. Latin America Recycled PET Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
9.2.1. Key Highlights
9.2.1.1. Packaging
9.2.1.1.1. Food & Beverage
9.2.1.1.2. Pharma
9.2.1.1.3. Personal Care
9.2.1.1.4. Misc. (Agrochemicals, etc.)
9.2.1.2. Textiles
9.2.1.3. Strapping
9.2.1.4. Footwear
9.2.1.5. Automotive
9.2.1.6. Flooring Materials
9.2.1.7. Misc. (Engineered Resins, etc.)
9.3. Latin America Recycled PET Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
9.3.1. Key Highlights
9.3.1.1. Brazil
9.3.1.2. Mexico
9.3.1.3. Rest of Latin America
9.3.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Recycled PET Market Outlook, 2018 - 2030
10.1. Middle East & Africa Recycled PET Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
10.1.1. Key Highlights
10.1.1.1. Flakes
10.1.1.2. Fibers
10.1.1.3. Resins
10.2. Middle East & Africa Recycled PET Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
10.2.1. Key Highlights
10.2.1.1. Packaging
10.2.1.1.1. Food & Beverage
10.2.1.1.2. Pharma
10.2.1.1.3. Personal Care
10.2.1.1.4. Misc. (Agrochemicals, etc.)
10.2.1.2. Textiles
10.2.1.3. Strapping
10.2.1.4. Footwear
10.2.1.5. Automotive
10.2.1.6. Flooring Materials
10.2.1.7. Misc. (Engineered Resins, etc.)
10.2.2. BPS Analysis/Market Attractiveness Analysis
10.3. Middle East & Africa Recycled PET Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
10.3.1. Key Highlights
10.3.1.1. GCC
10.3.1.2. South Africa
10.3.1.3. Egypt
10.3.1.4. Rest of Middle East & Africa
10.3.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2022
11.2. Competitive Dashboard
11.3. Product vs Application Heatmap
11.4. Company Manufacturing Footprint Analysis
11.5. Company Profiles
11.5.1. Indorama Ventures Public Company Limited
11.5.1.1. Company Overview
11.5.1.2. Product Portfolio
11.5.1.3. Financial Overview
11.5.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
11.5.2. Phoenix Technologies International, LLC
11.5.3. Biffa
11.5.4. Alpek
11.5.5. Plastipak Holdings, Inc.
11.5.6. Clear Path Recycling, LLC
11.5.7. ALPLA Group
11.5.8. Phoenix Technologies, Inc.
11.5.9. UltrePet LLC
11.5.10. JP Recycling Ltd
11.5.11. Extrupet Group (Pty) Ltd
11.5.12. Evergreen Plastics, Inc.
11.5.13. PolyQuest
11.5.14. DuFor
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
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