Recycled Polypropylene Market: A Guide to Competitive Landscape, Key Country Analysis, state funding initiatives Forecast 2023
The recycling rate of PET is expected to improve over the next couple of years, thus, augmenting the recycled polyethylene terephthalate market. In terms of volume, the global recycled polyethylene terephthalate market is prognosticated to reach over 11 KT by the end of 2023 up from 7,684.3 KT in 2017. However, 20-22% loss is incurred during the manufacturing process which remains an impediment to the market expansion.
Free Sample Request for This Report @ https://www.marketresearchfuture.com/sample_request/5812
The demand for RPET fiber in the textile industry is anticipated to witness an upsurge as it shows no qualitative degradation after several recycling sessions. The growth of the textile industry is poised to boost the expansion of recycled polyethylene terephthalate market through the review period.
Additionally, the extensive use of RPET in the food & beverage sector for packaging has intensified the market proliferation. Increase in working population, and disposable income has led to a shift towards ready-to-eat and packaged food products which is driving the demand for RPET.
The inclination towards plastic roads has paved the way for revenue acceleration for market participants. Plastic roads offer durability and take lesser time to build. This, in turn, is expected to fuel demand for RPET in the foreseeable future. Furthermore, the scarcity of drinking water has created an intense need for water treatment. It is likely to catalyze demand for nanofibers, which is expected to fuel demand for RPET.
Global Market for Recycled Polyethylene
MRFR’s report offers a detailed segmental analysis of the market based on type and application. By type, the market has been segmented into clear and colored. Among these, the clear segment holds a major share of the market as the colored RPET has to undergo a process that degrades its quality. The clear segment was valued at USD 4,203.6 Mn in 2017 and is expected to reach a value over USD 6 Mn by the end of 2023. The increasing demand from the packaging industry is likely to drive the growth of the clear segment in the forthcoming years.
By application, the market is based on fiber, sheet & film, strapping, food grade bottles & containers, non-food grade bottles & containers, and others. The fiber segment accounts for the maximum share of the market and is expected to exhibit healthy growth over the next few years. Its growth can be ascribed to the extensive use of polyester fiber in textile manufacturing.
Inquiry Before Buying @ https://www.marketresearchfuture.com/enquiry/5812
By region, the global recycled polyethylene terephthalate market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific currently accounts for 56% share of the market and is estimated to strike a relatively higher CAGR. The high recycling rate in Asian countries, especially China, Japan, and India are projected to accelerate revenue creation for the market players. For instance, according to a study published by National Chemical Laboratory (NCL), India recycles 90% of its polyethylene terephthalate, trailed by Japan which recycles 72% of its polyethylene terephthalate. India resonates strong growth opportunities and is emerging as an investment-centric market due to intensified textile production.
Europe is the second largest market for recycled polyethylene terephthalate and is forecasted to remain a highly lucrative market in the forthcoming years.
Germany is the most promising country-level market and is estimated to reach a value of USD 510.8 Mn towards the end of the assessment period. The growth of Germany’s market can be ascribed to the extensive production and export of textiles. Additionally, the initiatives undertaken by the European Union (EU) for plastic waste recycling has further boosted the market growth in the region. The trend is likely to perpetuate during the projection period.
North America is an important growth pocket due to the presence of established plastic industry in the U.S. Meanwhile; Latin America accounted for 9.9% share of the global market. The factor driving the growth of the regional market include economic reforms in favor of industrialization in Brazil. Apart from Brazil, Mexico and Argentina are projected to FAVOR the proliferation of the regional market.
The Middle East & Africa holds the least share of the global market owing to lack of awareness regarding recycling.
However, increasing consumption of plastic coupled with increasing awareness about the benefits of plastic recycling has opened avenues of growth opportunities in the regional market.lobal Market for Recycled Polyethylene Terephthalate-Competitive Dashboard:
Some of the key players profiled in the report include Placon, Clear Path Recycling, Verdeco Recycling Inc., Indorama Ventures Public Company Limited, Zhejiang Anshun Pettechs Fiber Co., Ltd, PolyQuest, Evergreen Plastics, Montello S.p.A., Phoenix Technologies, M&G Chemicals, and LIBOLON
Access Report @ https://www.marketresearchfuture.com/reports/recycled-polyethylene-terephthalate-market-5812
Market Research Future
+1 646 845 9312
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Recycled Polypropylene Market: A Guide to Competitive Landscape, Key Country Analysis, state funding initiatives Forecast 2023 here
News-ID: 1813328 • Views: 165
More Releases from Market Research Future - MRFR
Vehicle Analytics Market Heading with the Rising Demand for Efficient Traffic Ma …
The global vehicle analytics is growing rapidly. The market growth attributes to the increasing uptake of vehicle intelligence. Besides, increasing implementation of advanced technologies like artificial intelligence, machine learning, and predictive maintenance offering real-time data analysis drive the market growth. Moreover, rising uses of data collected by sensors and GPS tracking devices to improve traffic management escalate market demand. According to Market Research Future (MRFR), the global vehicle analytics market
Silicone Structural Glazing Market 2020 Top Key Players : Sika AG, Asahi Glass C …
Market Overview Market Research Future (MRFR) presumes that the silicone structural glazing market 2020 is gaining significant ground quite steadily and can achieve a growth rate of 8.5% from 2017 to 2023 (review period). Growth Boosters and Key Challenges Continuously increasing spending on infrastructural projects in developing countries like India and China are providing a host of attractive opportunities to manufacturers. The constant advancements in commercial, residential and public buildings along
Electric Sports Utility Vehicle (e-SUV) Market 2020: Business Trends, COVID – …
Market Research Future (MRFR) emphasizes that the Global Electric Sports Utility Vehicle (e-SUV) Market 2020 is slated to grow exponentially over the review period, securing a substantial market valuation and a healthy CAGR over the review period. Drivers and Restraints Automobiles operating on non-renewable fuel supplies emit large quantities of carbon, which is a primary polluting agent. Governments are also encouraging environmentally friendly vehicles which are supposed to curb carbon emissions.
Foldable Display Market Expected to Reach at $1,549.4 Million by 2024 | Know COV …
As per the research by Market Research Future Reports (MRFR), the global foldable display market is estimated to thrive at a CAGR of 62%, valuing USD 1,549.4 million during the review period. The increasing demand for smartphones is the most significant factor driving the global foldable display market 2020. The flexible display is an upcoming technology and is estimated to transform the electronics industry in the forthcoming period. The incorporation
More Releases for PET
PET Containers Market
Fact.MR delivers key insights on the PET containers market in its published report, titled “PET Containers Market: Industry Analysis and Opportunity Assessment, 2018–2028”. In terms of revenue, the PET containers market is estimated to expand at a CAGR of 5.1% during the forecast period, owing to numerous factors, about which Fact.MR offers thorough insights in this report. To get in-depth information view the report @https://www.factmr.com/report/1321/pet-containers-market Over 500 billion PET bottles are used
China Pet Food Market
China Pet Food Market The China Pet Food market is growing at a stronger rate due to the accelerating pet pollution, increasing pet adoption rates, and fast urbanization in China. The market is predicted to experience increased demand over the forecast period (2020-2027). Pet food is a dietary nutrient that is mainly derived from plant and animal sources and is often consumed by pets. This food product helps in the overall
Recycled PET Market Share, Recycled PET Market Size, Recycled PET Market Trends, …
Scope of the Report: This study provides an overview of the global recycled PET market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for
Global Pet Product Market Segment by Type - Pet Food Products, Pet Drug Products …
Researchmoz added Most up-to-date research on "Global Pet Product Market Segment by Type - Pet Food Products, Pet Drug Products, Pet Health Products, Pet Feeding Products and Pet Clothing Products" to its huge collection of research reports. This report studies the global Pet Product market, analyzes and researches the Pet Product development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top
Pet Health Products Market
A pet or companion animal is an animal kept primarily for one's company, protection, or entertainment. Popular pets are regularly noted for their attractive appearances and their loyal or playful personalities. While dogs and cats are the most preferred pet animals, people also keep house rabbits, fancy rats, guinea pigs, parrots, chickens, and aquatic pets. The trend of pet adoption and keeping is gaining rapid traction across the globe. The
Pet Project Malaysia 2013
To be held on 23rd March, 2013 (from 9am to 6pm) at The British International School of Kuala Lumpur in association with Expatriate Lifestyle, Pet Project Malaysia is BACK and we are once again “Getting Active to Help Save Animals”. Created in 2011, this is an event to unify the community in supporting animal welfare by doing something FUN and proactive. This event is open to the public and we