The global recycled polyethylene terephthalate market was valued at USD 8.5 billion in 2020 and is anticipated to grow at a CAGR of 6.7% from 2021 to 2030.
The global recycled polyethylene terephthalate market size is predicted to hit around USD 14.8 billion by 2030, according to a new study by Vision Research Reports.
The growing beverage industry in countries, such as China, India, Japan, South Korea, Vietnam, and the Philippines, as well as increasing demand for Recycled Polyethylene Terephthalate (rPET) in non-food sectors, is expected to drive the global market over the forecast period.
Recycled PET is a synthetic compound prepared from used PET products, which finds application in a wide range of end-use industries. The resins are produced from post-consumer PET bottle flakes and are one of the most stable forms of recycled PET. Clear was the largest type of rPET in 2020 and the product is expected to continue dominating the global market owing to the high demand in the production of bottles and sheets. Clear recycled PET is widely used in multiple applications, such as in the production of resins and fibers.
Rising concerns about the sustainability of natural resources in the developing economies of North America and Europe are expected to have a positive influence on the product demand over the forecast period. The shift in preference toward establishing manufacturing units in the Asia Pacific region, especially in China, India, Vietnam, Indonesia, and Thailand, is also expected to propel the product demand. The non-food containers and bottles end-use segment is expected to grow at a steady rate over the forecast period.
The clear product segment led the global market in 2020 and accounted for a revenue share of over 75%. The segment will retain the leading position expanding at a steady CAGR from 2021 to 2028. Low energy requirements and ease of bottle-to-bottle recycling are expected to drive the demand for clear recycled PET over the forecast period. In addition, clear rPET is highly durable, lightweight, non-reactive, and shatterproof.
The colored PET segment is estimated to register the fastest CAGR from 2021 to 2030 due to a rise in demand for these products over the past few years as a result of various packaging and bottle manufacturers trying to differentiate their products with eye-pleasing colors.
Fiber was the dominant application segment that accounted for over 44% of the global revenue share in 2020. The segment will expand further at a steady CAGR from 2021 to 2028, retaining the leading position. High demand from the FMCG, consumer goods, automobiles, clothing & accessories, textile, telecom, and home furnishing sectors is contributing to the growth of the market. It is also used in the manufacturing of automobile seat covers, sofa & chair seat covers, and carpets. Increasing investments in sports activities globally are augmenting the demand for sports clothing & accessories, which, in turn, are expected to drive the demand for recycled PET fibers.
An increase in bottle-to-bottle production and growth of the beverages market in Asia Pacific is expected to drive the segment over the forecast period. Recycled PET packaging for food & beverages provides thermal insulation and environmental impact resistance.
Asia Pacific was the largest regional market in 2020, which accounted for a revenue share of over 44%. It is projected to retain the leading position throughout the forecast period. The regional market is characterized by the easy availability of land along with a low-cost, skilled labor force. The shift in production landscape toward emerging economies, particularly China and India, is expected to positively influence the regional market growth over the forecast period.
|Market Size||USD 14.8 Billion by 2030|
|Growth Rate||CAGR of 6.7% from 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, End User|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||PLACON, Clear Path Recycling LLC, Verdeco Recycling, Inc., M&G Chemicals, Zhejiang Anshun Pettechs Fibre Co., Ltd., PolyQuest, Evergreen Plastics, Inc., Phoenix Technologies, Libolon.|
The key players operating in the marrket are PLACON, Clear Path Recycling LLC, Verdeco Recycling, Inc., M&G Chemicals, Zhejiang Anshun Pettechs Fibre Co., Ltd., PolyQuest, Evergreen Plastics, Inc., Phoenix Technologies, Libolon.
This report focuses on recycled polyethylene terephthalate market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall recycled polyethylene terephthalate market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global recycled polyethylene terephthalate market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the recycled polyethylene terephthalate market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the recycled polyethylene terephthalate market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Recycled polyethylene terephthalate market.
Market Segments: This part of the report discusses about product, application and other segments of the recycled polyethylene terephthalate market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global recycled polyethylene terephthalate market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the recycled polyethylene terephthalate market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of recycled polyethylene terephthalate are as follows:
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global recycled polyethylene terephthalate market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global recycled polyethylene terephthalate market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global recycled polyethylene terephthalate market.
The study objectives of this report are:
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