Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Recycled Polyethylene Terephthalate market.
Trusted Business Insights presents an updated and Latest Study on Recycled Polyethylene Terephthalate Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Recycled Polyethylene Terephthalate market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Recycled Polyethylene Terephthalate Market
The global recycled polyethylene terephthalate market size was valued at USD 7.34 billion in 2019. It is projected to register a CAGR of 7.9% during the forecast period. In recent times, consumers have become more conscious towards environmental sustainability, which has benefitted the growth of the market. In addition, ban on landfills introduced in several developed countries in North America and Europe is anticipated to drive the rPET market over the forecast period.
In terms of revenue, the U.S. market for recycled polyethylene terephthalate represented sizeable share in the overall revenue in 2019. It is anticipated to progress at a CAGR of 8.5% over the forecast period. U.S. is not only the largest market for rPET in North America but is also one of the largest markets globally.
Despite presence of a limited number of recycling plants, U.S. has managed to become one of the largest PET recycling countries globally. The country has approximately 31.0% PET bottle collection rate, which is higher than the global average as well as than that of Canada.
The market in Canada is primarily driven by increasing prices and high import volume of colored and clear rPET products. Clear polyethylene terephthalate bottles were the most type of PET bottles in 2019. The Canada market has been witnessing a high growth over the past five years due to significant rise in investments in the recycling industry.
Product Insights of Recycled Polyethylene Terephthalate Market
Clear recycled PET dominated the recycled polyethylene terephthalate market in 2019. It is estimated to exhibit a CAGR of 7.9% in terms of value during the forecast period. This type is the most widely recycled PET owing to the vast usage of clear PET bottles globally. Growth of the colored segment is primarily driven on account of excellent strength and durability of the product. The base of some food containers and non-food containers produced from colored rPET gives structural strength, which helps in storing goods for a long time. These containers offer structural strength coupled with lightness and flexibility, when used for packaging purposes.
In 2019, fiber was the dominant end-use segment and accounted for 44.75% of the market share in terms of volume. High demand from the FMCG, consumer goods, automobiles, clothing and accessories, textile, telecom, and home furnishing sectors is contributing to the growth of the segment. Fiber is predominantly used for manufacturing mattresses, cushions, car seating, and even insulation products.
Increasing bottle-to-bottle production and booming beverages market in Asia Pacific are some of the factors expected to drive the rPET market over the forecast period. Recycled PET packaging for food and beverages provides thermal insulation and environmental impact resistance.
The packaging also proves to be cost-effective owing to low cost involved in its production. Burgeoning population in emerging economies of Asia Pacific and Latin America are likely to stir up the demand for recycled polyethylene terephthalate bottles and containers over the forecast period.
Regional Insights of Recycled Polyethylene Terephthalate Market
Asia Pacific was the leading revenue contributor in 2019. It is poised to be the largest regional market through 2027. The regional market is characterized by availability of a significant amount of skilled labor at low cost and easy availability of land. Shift in production landscape towards emerging economies, particularly China and India, is projected to positively influence the growth.
Latin America market for recycled polyethylene terephthalate is anticipated to witness significant growth in the forthcoming years. Rising demand for food and non-food bottles across a large number of end-use industries and improving economic conditions are the major factors fueling the regional demand. Increasing per capita income, coupled with rising FMCG industry, is helping the regional market flourish.
Market Share Insights of Recycled Polyethylene Terephthalate Market
Placon; Clear Path Recycling LLC; Verdeco Recycling, Inc.; M&G Chemicals; Zhejiang Anshun Pettechs Fibre Co., Ltd.; PolyQuest; Evergreen Plastics, Inc.; Phoenix Technologies; and Libolon are the key manufacturers in the market. These companies are actively involved in the collection, processing of used plastics, and production of new rPET products and even distribution of the same.
Market players are focusing on provision of greater quality products to retain customer loyalty, since low switching costs and product differentiation have reduced supplier power in recent years. Companies are thus actively engaged in product development and research, technological advancements, and even strategic collaborations to consolidate their position in the global market.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Recycled Polyethylene Terephthalate Market Research Report
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global recycled Polyethylene Terephthalate market report on the basis of product, end use, and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2019 – 2030)
End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2019 – 2030)
Sheet and Film
Food & Beverage Containers and Bottles
Non-Food Containers and Bottles
Quick Read Table of Contents of this Report @ Recycled Polyethylene Terephthalate Market, rPET Market Research and Industry Forecast Report, 2027 (Includes Business Impact of COVID-19)
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580