The international recycled polyethylene terephthalate (rPET)industry’s value is estimated to value USD 12.5 billion by the end of 2026 and the industry is anticipated to spectator a CAGR of 8.0% through the estimated years.
In current era, clients have become more aware to environmental sustainability that has helped the development of the industry. Also, ban on landfills launched in numerous emerged nations in North America and Europe is expected to drive the rPET market over the estimated period. Based revenue, the industry in the U.S. signified size able share in the overall revenue in 2019. It is expected to development at a CAGR of 8.0% over the prediction period. The U.S. is not only the major industry of rPET in North America but also one of the largest markets internationally.
Apart from occurrence of a limited numeral of recycling plants, the U.S. has managed to become one of the largest PET recycling nations internationally. The nation has around 31.0% PET bottle collection rate that is higher than the worldwide average as well as than that of Canada.The industry in Canada is mainly determined by growing prices and high import volume of coloured and clear recycled polyethylene terephthalate products. Clear type PET bottles were the furthermost recycled PET bottles in 2019. The Canada recycled polyethylene terephthalate market has been observing a high development over the last five years owing to substantial investments in this industry.
Fiber was the leading end-use segment in the worldwide recycled PET industry. It registers for 44.81% of the industry volume in 2019. High need from the FMCG, automobiles, consumer goods, clothing & accessories, telecom, textile, and home furnishing sectors is contributing to the development of the industry. Fiber is mainly used in making cushions, mattresses, insulation products and car seating.
Growing bottle-to-bottle production and thriving beverages industry in Asia Pacific are projected to drive the recycled polyethylene terephthalate (rPET) market over the prediction period. rPET packaging for food & beverages delivers environmental impact resistance and thermal insulation. The packaging also shows to be pocket friendly due to low cost involved in its production. Growing population in developing countries of Latin America and Asia Pacific is possible to gear up the demand for recycled polyethylene terephthalate (rPET) bottles and containers.
Market By Product
Market By End-Use
Market By Geography
Asia Pacific was the significant income contributor in 2019. It is composed to be the largest regional industry through 2026. APAC is characterized by obtainability of an important amount of skilled labour at low cost and easy accessibility of land. Drift in production landscape towards developing economies, predominantly India and China, is expected to optimistically influence the development of the market over the estimated period.
Spiralling need for food and non-food bottles across a large numeral of end-use businesses and improving financial conditions are the main factors fuelling the need for recycled polyethylene terephthalate (rPET) in Latin America. Growing per capita income, paired with increasing FMCG market, is helping the industry flourish in the region.
Libolon; Placon; Phoenix Technologies; Clear Path Recycling LLC; Evergreen Plastics, Inc.; Verdeco Recycling, Inc.; PolyQuest; M&G Chemicals; and Zhejiang AnshunPettechs Fibre Co., Ltd. are noteworthy companies operating in the worldwide recycled polyethylene terephthalate (rPET)market.
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