Recycled Polyethylene Terephthalate Market 2022 technology Placon, Clear Path Recycling, Verdeco Recycling Inc., Indorama Ventures Public Company Limited
Recycled Polyethylene Terephthalate Market Overview
Market Research
Future (MRFR) analyzed the global recycled polyethylene terephthalate (RPET) market
2020 for the analysis period (between 2018 and 2023). By 2023, the global
recycled polyethylene terephthalate (RPET) market is expected to register 8.5% CAGR.
MRFR findings reveals that the RPET market is likely to worth USD 10,666.2 Mn
by 2023 from USD 6,572.9 Mn in 2017. The surge in demand for polyethylene
terephthalate (PET) in the booming textile industry and the rise in recycling
rate of PET products in the fashion sector are identified as major growth
inducers of the recycled polyethylene terephthalate market. The food and beverage
sector a high consumer of RPET as shift in consume trend towards ready-to-eat
is observed, and the ingression of PET solutions in the expanding packaging sector
due to rise in sales of packed food can improve the recycled polyethylene
terephthalate market momentum. The expansion of professionals and hike in disposable
income can add to the market upsurge. On the contrary, lack of robust technologies
and rules challenging the recyclability of PET can hinder the market growth.
Segmental
Analysis
MRFR studied the
Recycled
Polyethylene Terephthalate Market by segment analysis, based on type
and application. Insights into the RPET market can help investors make high
return-oriented decisions.
The type-based segments
of the recycled polyethylene terephthalate market are clear and colored. The clear
segment can thrive in the near future as the preference for colored RPET is
high due to its superior quality. The clear segment is expected to value over
USD 6 Mn by 2023 from USD 4,203.6 Mn in 2023. The rise in application of clear
RPET in the booming packaging industry can contribute to the expansion of the clear
segment in the years ahead.
The application-based
segments of the recycled polyethylene terephthalate market are sheet &
film, fiber, strapping, non-food grade bottles & containers, and food grade
bottles & containers among others. The fiber segment can thrive in the
study tenure by holding the maximum market share. The food grade bottles and
containers segment can exhibit healthy CAGR over the analysis period, suggests
MRFR analysis. The extensive application of polyester fiber in the textile production
and rise in construction of plastic roads can yield high return for the market.
The rise in number of market participants in the construction of plastic roads due
to high durability of RPET can favor the market in the foreseeable future. In
addition, the scarcity of drinking water due to lack of effective water
treatment solutions. RPET is also used in the production of nanofibers and the
upscaling demand for nanofibers can add thrust to the market growth pace.
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Competitive
Dashboard
Placon, Verdeco
Recycling Inc., Clear Path Recycling, Indorama Ventures Public Company Limited,
PolyQuest, Evergreen Plastics, Zhejiang Anshun Pettechs Fiber Co., Ltd, Montello
S.p.A., M&G Chemicals, Phoenix Technologies, and LIBOLON are some reputed
names in the global recycled polyethylene terephthalate market that are listed
by MRFR.
Regional
Outlook
The recycled
polyethylene terephthalate market in the Asia Pacific region can secure about 56%
share of the worldwide market and is likely to surge at high CAGR. The high
recycling rate in Asian regions, such as India, can accelerate the market rise
in the near future. market players. Japan is expected to touch decent market
value by 2023. However, India is observed to hold strong growth opportunities as
it has emerged as an investment-centric market due to high textile production.
In Europe, the
recycled polyethylene terephthalate market is expected to hold lucrative market
in the foreseeable future. Germany is identified as the most promising region
that is likely to earn value of about USD 510.8 Mn by 2023. The expansion of EU
market can be attributed to the extensive production and export of textiles. Moreover,
increase in plastic waste and the need for recycling can boost EU RPET market.
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In North America,
the recycled polyethylene terephthalate market is expected to be headed by the
US as numerous plastic solution supplier are present in the region. MRFR study
states that Latin America is expected to secure 9.9% market share in the review
period. Economic reforms and industrialization in can favor the RPET market in Brazil,
Argentina, and Mexico.
In the Middle
East and Africa, the recycled polyethylene terephthalate market can show steady
rise due to less awareness about recycling. However, rise in consumption of
plastic and benefits of plastic recycling can open numerous growth
opportunities for the regional RPET market.
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