Recycled Polyethylene Terephthalate Market Share, Current Impact, and Holistic View By 2028

Recycled Polyethylene Terephthalate Industry Overview

The global recycled polyethylene terephthalate market size was valued at USD 8.56 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028.

The market growth is primarily driven by changing consumer behavior towards sustainability. In addition, a ban on landfills introduced in several developed countries in North America and Europe is likely to drive the product demand over the forecast period. The primary factor driving Recycled Polyethylene Terephthalate (rPET) demand in North America is its broad application scope in several key application industries, such as FMCG, consumer goods, clothing & textile, and automotive. Various government initiatives regarding the recycling of plastics coupled with high investments have resulted in a decent rPET market in the region.

Despite significant investments, most post-consumer PET bottles are majorly exported to Southeast Asian countries for recycling and then re-imported to the respective country in North America in the form of new bottles produced from recycled PET.

Gather more insights about the market drivers, restrains and growth of the Global Recycled Polyethylene Terephthalate Market

U.S. recycled polyethylene terephthalate market size

According to the World Economic Forum, the outbreak of COVID-19 has made plastic waste management and recycling more complex as the demand for single-use Personal Protective Equipment (PPE) has increased. The mismanagement of infectious plastic waste is posing a major challenge to plastic recycling.

Initiatives such as How2Recycle by GreenBlue, a non-profit environmental organization working toward spreading awareness about the recycling process, its benefits, and impact on the environment, will support market growth. In addition, GreenBlue is working with over 220 companies and providing sustainable packaging designs.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

  • Textile Market: The global textile market size was valued at USD 993.6 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030.
  • Plastic Packaging Market: The global plastic packaging market size was valued at USD 348.08 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028.

Recycled Polyethylene Terephthalate Market Segmentation

Grand View Research has segmented the global recycled polyethylene terephthalate market on the basis of product, end-use, and region:

  • Recycled Polyethylene Terephthalate (rPET) Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028
    • Clear
    • Colored 
  • Recycled Polyethylene Terephthalate (rPET) End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028
    • Fiber
    • Sheet and Film
    • Strapping
    • Food & Beverage Containers and Bottles
    • Non-Food Containers and Bottles
    • Others 
  • Recycled Polyethylene Terephthalate (rPET) Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Market Share Insights

  • September 2021: Some recycling assets of Viridor Waste Management Ltd. has been acquired by Biffa. The basic objective was that of expanding the former’s I&C collection business along with recycling capacities to widen its customer base.
  • June 2021: Indorama Ventures picked up CarboonLite Holdings’ facility based out of Texas to increase its PET recycling capability.

Key Companies profiled:

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

Order a free sample PDF of the Recycled Polyethylene Terephthalate Market Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

India Electric Vehicle Market Competitive Landscape Report to 2028

Image
India Electric Vehicle Industry Overview The India electric vehicle market size was valued at USD 220.1 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 94.4% from 2021 to 2030. The attractive incentives being offered by the Indian government on the production and purchase of electric vehicles to encourage the adoption of electric vehicles are anticipated to drive the growth of the market over the forecast period. The outbreak of the COVID-19 pandemic triggered a significant decline in the overall sales of passenger and commercial vehicles in 2020. However, the sales of electric vehicles in India remained unaffected. The post-lockdown sale of pure and hybrid electric vehicles is a prominent driving factor for the electric vehicle market in India. The stringent GreenHouse gas (GHG) emission norms drafted by the government, such as the Bharat Stage (BS) VI emission standards introduced by India’s Ministry of Road Transport and Highways (MoRTH), are a
Read more

Cyber Security Market 2030 - Advanced Solutions for Modern Businesses

Image
Data breaches, malware, and hacking attempts are all too common, forcing businesses and individuals to prioritize cybersecurity market  trends. The internet has become an essential part of our lives, and with it comes the ever-present threat of cyberattacks. Within the struggles of integrity, privacy, and trust, the domain of cybersecurity thrives with firewalls, encryption keys, and neural networks that safeguard our interconnected existence. The Market Landscape This blog explains the core of the cybersecurity market, examining its growth, challenges, and the valiant defenders who shield the virtual world. Numbers Beyond 0 & 1: The global cyber security market is no mere niche; it’s a thriving ecosystem fueled by relentless innovation and escalating threats. According to recent reports, here are the key figures: In 2023, the market was estimated at a staggering  USD 222.66 billion , growing at a projected compound annual growth rate of 12.3% from 2024 to 2030. By 2030, th
Read more

LiDAR Market Historical Data & Forecasts 2030

Image
LiDAR Industry Overview The global LiDAR market size was valued at USD 1.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. The technological advancements in spatial resolution of LiDAR-based digital terrain models are providing better accuracy in applications such as change detection on hillsides, water runoff for agriculture or mining sites, and inland waterways. The growth of the market is attributed to the rising automation in LiDAR to reduce human efforts and increase efficiency. Gather more insights about the market drivers, restrains and growth of the Global LiDAR Market   The rising demand for 3D imagery in application areas such as military & defense, topographical surveys, civil engineering, and corridor mapping is expected to drive the market growth over the forecast period. Textured 3D imagery is applied in applications such as 3D mapping, city planning, and corridor mapping. The installation of advanced
Read more