Recycled Polyethylene Terephthalate Market Size, Share & Trends Analysis Report 2023 - Global Forecast to 2030 - ResearchAndMarkets.com
3 October 2023
The "Recycled Polyethylene Terephthalate Market Size, Share & Trends Analysis Report By Product (Clear, Colored), By End-use (Fiber, Sheet & Film, Strapping), By Region (Asia Pacific, North America), And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global recycled polyethylene terephthalate (rPET) market is poised for significant growth, with an anticipated market size of USD 18.7 billion by 2030. This growth is expected to be driven by a robust compound annual growth rate (CAGR) of 8.3% from 2023 to 2030.
Several factors contribute to the expansion of this market. Notably, sustainability initiatives undertaken by food & beverage and packaging companies are playing a pivotal role. These efforts align with the growing global focus on achieving a circular economy. As a result, there is an increasing adoption of recycled plastics, particularly recycled polyethylene terephthalate (PET), across various industries, including packaging and textiles.
Recycled polyethylene terephthalate (rPET) finds application in the development of both colored and clear (white/non-colored) products. Clear rPET products are favored for their cost-effectiveness compared to colored rPET products. However, colored rPET products hold appeal for packaging and bottle manufacturers, as they provide brand identity and enhance product aesthetics.
Furthermore, stringent regulations against landfills in several developed nations in North America and Europe, such as Austria, Germany, France, and more, are further propelling the demand for recycled materials like rPET. Europe has a history of landfill bans, and similar measures are being planned in the UK and Australia.
End-use industries have also embraced the use of rPET in their product manufacturing processes. This strategic move helps them control raw material costs and position themselves as environmentally-friendly product developers. For instance, TotalEnergies acquired Iber Resinas SL, a plastic recycling company in Spain, to expand its presence in European markets.
Key Highlights from the Recycled Polyethylene Terephthalate Market Report:
- North America's regional market reached USD 10.1 billion in 2022 and is expected to maintain an 8.3% CAGR from 2023 to 2030.
- The clear product segment dominates the market, accounting for over 76.0% of revenue share in 2022. Its attributes, such as low energy requirements, bottle-to-bottle recycling capability, non-reactive & shatterproof properties, and durability & low weight, are driving its demand.
- Colored rPET is used in various applications, including automotive trays, protective packaging, electronics & electrical packaging, containers, transit trays, healthcare packaging, and more. It also finds use in fabric, clothing, and diverse packaging applications.
- The Asia Pacific region is expected to experience significant growth, driven by bottle-to-bottle production and the expanding beverages market. Recycled PET packaging offers thermal insulation and environmental impact resistance, making it cost-effective.
- Government incentives and subsidies, particularly in Asian countries like China, India, Vietnam, Indonesia, and Thailand, are fostering the demand for rPET in various industries, including bottles and containers.
- The thriving rPET market reflects the growing importance of sustainability and recycling in the global economy, with opportunities for businesses to contribute to eco-friendly practices and meet market demand.
- Clear Path Recycling LLC
- Verdeco Recycling, Inc.
- Indorama Ventures Public Ltd.
- Zhejiang Anshun Pettechs Fibre Co., Ltd.
- Evergreen Plastics, Inc.
- Phoenix Technologies
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Outlook
Chapter 3 Recycled Polyethylene Terephthalate Market Variables, Trends, and Scope
3.1 Market Lineage Outlook
3.1.1 Global Recycled Plastics Market Outlook
3.1.2 Global Plastics Market Outlook
3.2 PET Bottles Demand by Color (% Share), 2020
3.2.1 Industry Value Chain Analysis
3.2.2 Raw Material Trends
3.2.3 Technology Overview
3.3 Regulatory Frameworks
3.3.1 European Union (EU) 2018/852
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.2 Market restraint Analysis
3.4.3 Industry Challenges
3.4.4 Key Opportunities Prioritized
3.5 Business Environment Analysis: Recycled Polyethylene Terephthalate Market
3.5.1 Industry Analysis - Porter's
3.5.2 PESTEL Analysis
3.6 COVID-19 Impact on the Recycled Polyethylene Terephthalate Market
Chapter 4 Recycled Polyethylene Terephthalate Market: Product Estimates & Trend Analysis
4.1 Product Movement Analysis & Market Share, 2022 & 2030
4.2 Recycled Polyethylene Terephthalate Market Estimates & Forecast, By Product (Kilo Tons) (USD Million)
Chapter 5 Recycled Polyethylene Terephthalate Market: End-use Estimates & Trend Analysis
5.1 End-use Movement Analysis & Market Share, 2022 & 2030
5.2 Recycled Polyethylene Terephthalate Market Estimates & Forecast, By End-use (Kilo Tons) (USD Million)
5.4 Sheet & Film
5.6 Food & Beverage Containers and Bottles
5.7 Non-food Containers and Bottles
Chapter 6 Recycled Polyethylene Terephthalate Market: Regional Estimates & Trend Analysis
6.1 Recycled Polyethylene Terephthalate Market: Regional Outlook
6.2 Recycled Polyethylene Terephthalate Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7 Recycled Polyethylene Terephthalate Market: Competitive Landscape
7.1 Recent Developments & Their Impact Analysis, by Key Market Participants
7.2 Key Company/Competition Categorization
7.3 Participant's Overview
7.4 Financial Performance
7.5 Product Benchmarking
7.6 Company Heat Map Analysis
7.7 Company Market Position Analysis
7.8 Company Market Share Analysis, 2022
7.9 Strategy Mapping
For more information about this report visit https://www.researchandmarkets.com/r/68kmlm
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