[Latest] Global Recycled PET Market Size/Share Worth USD

Austin, TX, USA, March 16, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Recycled PET Market Size, Trends, and Insights By Product Type (Clear, Colored), By End-Use (Fiber, Food & Beverage Containers, Bottles, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.

“According to the latest research study, the demand for global Recycled PET Market size & share was valued at approximately USD 9.02 Billion in 2021 and is expected to reach USD 9.37 billion in 2022 and is expected to reach a value of around USD 12.25 Billion by 2030, at a compound annual growth rate (CAGR) of about 5.8%during the forecast period 2022 to 2030.”

Polyethylene terephthalate PET is an aliphatic polyester and thermoplastic resin. It is widely available and cost-effective, due to which it can be recycled widely. It is extruded or molded into plastic bottles and containers for packaging foods and beverages, personal care products, and many other consumer products.

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Market Drivers

Government support for green environment

Government initiatives on growing plastic waste and support for recycled PET-based plastic have enhanced the performance of the recycled PET market. In addition, PET is the most commonly recycled plastic on the earth. According to data revealed by Plastic Ingenuity, almost every recycling program in the US accepts PET materials.

The Life Cycle Inventory Study reported in 2010 that “for every pound of recycled PET flake used, energy use is reduced by 84%; greenhouse gas emissions by 71%. This may act as one of the key drivers responsible for the growth of the market during the forecast period.

Restraints

Environmental concern

However, the stringent government norms and regulation on the plastic ban is expected to hamper the overall market growth. The durability of Recycled PET material is expected to increase environmental pollution. On the other hand, manufacturers are switching to the alternative substitute for Recycled PET due to government programs for a sustainable and plastic-free environment.

(A free sample of the Recycled PET report is available upon request; please contact us for more information.)

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Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
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(Please note that the sample of the Recycled PET report has been modified to include the COVID-19 impact study prior to delivery.)

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Opportunities
Robust demand from the food & beverages industry

The growing population across the globe, the increase in the number of working women, and the rising demand for ready-to-eat packaged food have given way to the recycled PET industry. Recycled PET-based plastics are extensively used in the manufacturing of plastic containers. This is projected to propel the growth of the recycled PET market in the upcoming years. In addition, the growing food and beverages industry across the world is driving the potential sales of recycled PET market. For instance, according to an article published by IBIS World, in the year August 2022, the industry revenue is expected to fall at a compound annual rate of 0.9% over the five years through 2022-23 to £935.4 million.

Challenges.

High production technology

Over the forecast period, the higher lead time and tooling costs involved in injection molding technology and the recycling process are likely to act as challenging factors during the forecast period.

Report Highlights.

Depending upon the type, the recycled PET market is segmented clear and colored.

The clear segment dominated the market in 2021 and accounted for a total major share of 78.0%.

A clear type of Recycled PET-based segment provides extended shelf life due to which it has gained popularity in the food and beverages industry where it is used in the form of bottles, jars, containers, and many others. This is anticipated to increase the demand for plastic packaging in the industrial sector.

Furthermore, the clear Recycled PET is mostly suitable for a wide range of products, including food, medicine, electronics, toys, personal care items, office stuff, and among others. In addition, the ease of processing system, availability of various raw materials, and cost-effective material have driven the market growth. In response to this, several manufacturers are actively engaged in the production of a clear type of Recycled PET products and prefer clear granules or flakes to manufacture containers and bottles, as opposed to opaque or colored PET. Clear Recycled PET products help in the easy detection of variations of the product inside, such as a change in color, fungal growth, and chemical reaction due to inadequate storage conditions.

Based on end use, the market is segmented into fiber, food & beverage containers, bottles, and others. It is expected that the global fiber application segment to hold a dominant position during 2022 – 2031 with a total share of 42.56%.

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The factors such as a rapid shift in lifestyle, the busy schedule of people, and growing trends of ready-to-eat packed food have escalated the demand for various types of recycled PET products, which it is extensively used as protecting and covering material while carrying out food during transportation. In addition, growing consumer goods, textile, automotive textile, clothing, and FMCG sectors have positively impacted market growth.

Recycled PET-based products are extensively used in automotive cushioning for making seat belts, seat covers, caRecycled PETs, and others. Moreover, recycled PET-based products are popularly used in the textile industry for the manufacturing of t-shirts, fiber-based jackets, and many others. These factors are likely to dominate the market in the upcoming years.

Key questions answered in this report:

What is the size of the Recycled PET market and what is its expected growth rate?
What are the primary driving factors that push the Recycled PET market forward?
What are the Recycled PET Industry's top companies?
What are the different categories that the Recycled PET Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Recycled PET market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2022−2030
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Report Scope

Feature of the Report	Details
Market Size in 2021	USD 9.02 Billion
Projected Market Size in 2030	USD 12.25 Billion
Market Size in 2022	USD 9.37 Billion
CAGR Growth Rate	5.8% CAGR
Base Year	2021
Forecast Period	2022-2030
Key Segment	By Product Type, End Use, and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Key Players

Amcor Ltd
PLACON
Clear Path Recycling LLC
Verdeco Recycling Inc.
Indorama Ventures Public Ltd.
Zhejiang Anshun Pettechs Fibre Co. Ltd.
PolyQuest
Evergreen Plastics Inc.
Phoenix Technologies
Libolon
Biffa
Others

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Regional Snapshots.

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific is the dominant region in the global recycled PET market and accounts for 43.67% of the total market share. This region is also anticipated to maintain its dominance throughout the forecast period. Countries such as China, Japan, India, and others have significant contributions to the growth of the recycled PET market in the region.

The growth of fiber, consumer goods, bottle-to-bottle production, food and beverages, and other end-use industries has surged the demand for Recycled PET. Furthermore, the healthcare sector is one of the booming sectors in India. For instance, according to a report published by NITI Aayog in the year March 2021, India’s healthcare industry has been growing at a Compound Annual Growth Rate (CAGR) of around 22% since 2016.

At this rate, it is expected to reach USD 372 billion in 2022. These factors together increase the usage of PET in the growing healthcare industry for manufacturing and packaging various healthcare products such as various surgical containers, medical bottles, saline bottles, syringes, and many others.

Key Findings:

The colored type of segment dominated the market in 2021 and is expected to grow over the forecast period with a total market share of 78%.
Global fiber application segment to hold a dominant position during 2022 -2031 and accounted for 45% of the total market share during the forecast period.
Asia-Pacific is the dominant region in the bio-butanol market with a total market share of 43.67% during the forecast period.

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Segments covered in the report

By Product Type

Clear
Colored

By End Use

Fiber
Food & Beverage Containers
Bottles
Others

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By Region

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

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This Recycled PET Market Research/Analysis Report Contains Answers to the following Questions.

Which Manufacturing Technology is used for Recycled PET? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Recycled PET Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Recycled PET Market? What Was the Capacity, Production Value, Cost and PROFIT of the Recycled PET Market?
What Is the Current Market Status of the Recycled PET Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Recycled PET Market by Considering Applications and Types?
What Are Projections of the Global Recycled PET Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Recycled PET Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Recycled PET Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Recycled PET Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Recycled PET Industry?

Reasons to Purchase Recycled PET Market Report

Recycled PET Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Recycled PET Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Recycled PET Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Recycled PET Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Click Here to Access a Free Sample Report of the Global Recycled PET Market @ https://www.custommarketinsights.com/report/recycled-pet-market/

Reasons for the Research Report

The study provides a thorough overview of the global Recycled PET market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Recycled PET market analysis.

The competitive environment of current and potential participants in the Recycled PET market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

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Who should buy this report?

Participants and stakeholders worldwide Recycled PET market should find this report useful. The research will be useful to all market participants in the Recycled PET industry.

Managers in the Recycled PET sector are interested in publishing up-to-date and projected data about the worldwide Recycled PET market.

Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Recycled PET products' market trends.

Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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