Recycled Polyethylene Terephthalate (rPET) Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4264
Recycled Polyethylene Terephthalate (rPET) Market size is driven by increasing awareness related to manufacturing of sustainable packaging and consumer products in the upcoming years. Recycled Polyethylene Terephthalate (rPET) is produced from the already used PET grades including bottles or films, which are utilized for a wide range of end-user industry applications. Recycled polyethylene terephthalate is extensively used in the application of variety of industry including food & beverages, sportwear, carpet fiber, containers, bottles, etc. Many food & beverages manufacturers have planned to use the rPET packaging. For instance, Coca-Cola has planned to replace its virgin PET bottles with rPET bottles by 2025 across Western European region. This initiative will further create a surge in product demand in the coming years.
Another key growth factor for the industry is stringent governance over the disposal of the plastic bottles in landfills. Many countries have imposed ban on disposal of certain plastic products in landfills. Plastic products are non-biodegradable and contains environmentally harmful chemicals and disposal of these products in landfill may directly affect the ecosystem. Thus, the government ban on the disposal of plastic products may increase the usage of recycled PET in future.
Though rPET has many advantages over the virgin PET products, but the challenges associated with the government regulations may hamper industry demand in the upcoming years. Many government agencies such as US FDA and European Food Safety Authority have formed norms for the usage of recycled plastic products that are intended for food contact applications. Thus, the stringent government norms related to recycling process is expected to slow down the product demand in the upcoming years.
Recycled polyethylene terephthalate market has been segmented into grades, products, end-user industry and region. On the basis of grades, the industry has been categorized into PCR, bio-based, polyester fiber and wood plastic. Bio-based recycled PET products are expected to have a significant growth in the upcoming years.
On the basis of product, the industry has been segmented into clear and colored recycled polyethylene terephthalate. Colored rPET are extensively used in the food & beverages containers to provide durability and higher strength.
Based on end-user industry, the market has been categorized into food & beverages, automotive parts, sheets & films, carpet fiber, sportswear and others. Other end-user consists of industrial strapping. Food & beverages end-user industry is expected to have significant product demand in the upcoming years. The product has key property such as thermal insulation and is a cost-effective solution. Carpet fiber will also be a key end-user segment as the product is widely used in the application of cushions, car seating, insulation products, mattresses, etc. Rising demand for carpet fiber in textile, consumer goods, automotive, clothing & accessories, home furnishing, etc. sectors will further increase the product demand in upcoming years.
Europe is expected to be a key region in the recycled polyethylene terephthalate (rPET) market in the upcoming years. Majority of the recycled PET demand is affected by the collection of the PET bottles for recycling across the region. EU legislation related to plastic recycling are major growth driving factor for recycled PET product demand. Major countries including Germany, France, the UK, Italy, the Netherlands, etc. are actively involved in the plastic recycling. North America will also see a significant product demand in the region due to growing number of recycling facilities in the U.S. and Canada. Increasing product consumption for the end-user application are expected to be key driver for region’s growth in the upcoming years.
Some of the key market players of recycled polyethylene terephthalate (rPET) market, which include Placon, BariQ, Sorema, Libolon, Evergreen Plastics, M & G Chemicals, Ergis Recycling, Verdeco Recycling, Inc, PolyQuest and Clear Path Recycling.
Recycled polyethylene terephthalate (rPET) Market, By Grades, 2014-2025 (Tons) (USD Million)
- Post-consumer resin
- Polyester fiber
- Wood plastic
Recycled polyethylene terephthalate (rPET) Market, By Product, 2014-2025 (Tons) (USD Million)
Recycled polyethylene terephthalate (rPET) Market, By End-user Industry, 2014-2025 (Tons) (USD Million)
- Food & beverages
- Automotive parts
- Sheets & films
- Carpet fiber
- Others (industrial strapping)
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
- Evergreen Plastics
- M & G Chemicals
- Ergis Recycling
- Verdeco Recycling, Inc
- Clear Path Recycling
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