DUBLIN--(BUSINESS WIRE)--The "Global Recycled PET Market by Type (Flakes, Chips), Grade (Grade A, Grade B), Source (Bottles & Containers, Films & sheets), Application (Bottles, fiber, Sheets, Strapping), and Region (APAC, North America, Europe, MEA, South America) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global Recycled PET market is estimated to be USD 8.9 billion in 2021 and is projected to reach USD 11.7 billion by 2026, at a CAGR of 5.7% from 2021 to 2026.
The growth is due to the growing demand from bottles, sheets, fiber and other applications throughout the world. An increasing trend in terms of collection, domestic recycling, recovery of PET, export of PET waste, and implementation of legislative regulations has been witnessed in the market for RPET. These activities have contributed significantly to the growth in demand for RPET in various applications such as food & beverage bottles, textile fiber, and strapping.
Flakes are expected to be the fastest-growing type in the recycled PET market during the forecast period
Flakes are the fastest-growing type segment in the recycled PET market. Growth is attributed to the rising demand in various end-use applications such as food-grade bottles & containers, sheets, and fiber. The above-mentioned factors are expected to drive demand during the forecast period. It accounted for a share of about 57.5% of the recycled PET market, in terms of value, in 2020.
Bottles are expected to be the largest and fastest-growing application in the recycled PET market during the forecast period
Bottles is the largest and fastest-growing fastest-growing application segment in the recycled PET market. Increasing demand for RPET bottles in food & beverage packaging is driving the market. Growth of this segment is attributed to the rising demand for bottle to bottle recycling across the world. It accounted for a share of about 36.5% of the recycled PET market, in terms of value, in 2020.
APAC is the largest market for recycled PET
APAC is the largest and market of recycled PET, with China being the major emerging market. APAC accounted The growth is due to the growing demand from bottles, sheets, fiber and other applications throughout the world. An increasing trend in terms of collection, domestic recycling, recovery of PET, export of PET waste, and implementation of legislative regulations has been witnessed in the market for RPET. These activities have contributed significantly to the growth in demand for RPET in various applications such as food & beverage bottles, textile fiber, and strapping. It accounted for a share of about 43.6% of the recycled PET market, in terms of value, in 2020.
Market Dynamics
Drivers
- Increasing Demand for Rpet from the Food & Beverage Industry
- Laws & Regulations Enforced by Governments
Restraints
- Absence of the Required Framework for Plastic Waste Collection and Segregation
- Fewer Treatment Plants and Lack of Expertise for Recycling Pet Waste
Opportunities
- Increasing Demand for Sustainable Packaging Solutions
Challenges
- High Costs of Recycled Plastics
Companies Mentioned
- Al Mehtab Industries
- Alpek
- Biffa
- Clear Path Recycling, LLC
- Evergreen
- Far Eastern New Century Corporation
- Grm Polymer
- Indorama Ventures Public Limited
- Indorama Ventures Public Ltd.
- Jiangsu Get Recycling Technology Co, Ltd
- Lavergne
- Libolon
- Loop Industries
- Lotte Chemical
- Marglen Industries
- Octal
- Other Players
- Peninsula Plastics Recycling
- Petco.Co.Za
- Phoenix Technologies
- Placon
- Plastipak Holdings, Inc.
- Polyquest
- Reliance Industries Limited (Ril)
- Repro-Pet
- Ultrepet, LLC
- Verdeco Recycling, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/90uj60
