Landfill Restrictions to Boost the Recycled PET Market

A recent study by Triton Market Research titled Global Recycled Polyethylene Terephthalate Market includes the Global Analysis and Forecasts by Application (Strapping, Food and Beverage Bottles & Containers, Sheet & Film, Fiber, Non-Food Bottles & Containers, Other Applications), Product (Clear, Colored), and Regional Outlook (Middle East and Africa, North America, Asia-Pacific, Latin America, Europe).

Recycled polyethylene terephthalate is widely used recycled plastic with environmental benefits like lower carbon emissions.

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According to Triton's research report, the global recycled polyethylene terephthalate market is anticipated to advance with a CAGR of 7.05% over the forecast period 2022-2028.

In recent years, the growing awareness about sustainability and government restrictions on landfills are driving the recycled PET market. The rising concerns about sustainability have influenced manufacturers to adopt recycled PET to reduce the use of resources like petroleum and water. Furthermore, around 56% of the US population is opting for sustainable products, which is increasing the adoption of recycled polyethylene terephthalate.

On the flip side, the process of recycling results in the emission of toxic pollutants such as carbon dioxide. Moreover, the process leads to the emission of volatile organic compounds that presents health risks for people. Thus, emission during the recycling process restricts the studied market's development.

The recycled PET market is bifurcated into application and product. The application segment is divided into strapping, food and beverage bottles & containers, sheet & film, fiber, non-food bottles & containers, and other applications. The product section is categorized as clear and colored.

Globally, Europe leads the recycled polyethylene terephthalate market. High landfill tipping fees, dumping tariffs, and functional waste management systems have influenced the government to switch to rPET products. For instance, as landfill taxes have soared in various countries, the cost of dumping is more than the PET recycling cost. Therefore, such factors are widening the scope and growth of the recycled PET market.

Evergreen Plastics Inc, Portage Plastics, Carbonlite Industries, Phoenix Technologies, Indorama Ventures Public Ltd, Plastipak Holdings Inc, DuFor, Placon, Biffa, Libolon, Zhejiang Anshun Pettechs Fibre Co Ltd, Ultrepet, Clear Path Recycling LLC, PolyQuest, and Far Eastern New Century Corporation are eminent players in the recycled polyethylene terephthalate market.

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Question & Answer: Global Recycled Polyethylene Terephthalate Market

Question 1: What factors are driving the recycled PET market?
Answer: In recent years, the growing awareness about sustainability and government restrictions on landfills are driving the recycled PET market. The rising concerns about sustainability have influenced manufacturers to adopt recycled PET to reduce the use of resources like petroleum and water. Furthermore, around 56% of the US population is opting for sustainable products, which is increasing the adoption of recycled polyethylene terephthalate.

Question 2: Which factors restrict the recycled PET market's development?
Answer: The process of recycling results in the emission of toxic pollutants such as carbon dioxide. Moreover, the process leads to the emission of volatile organic compounds that presents health risks for people. Thus, emission during the recycling process restricts the studied market's development.

Question 3: What region leads the recycled polyethylene terephthalate market?
Answer: Globally, Europe leads the recycled polyethylene terephthalate market. High landfill tipping fees, dumping tariffs, and functional waste management systems have influenced the government to switch to rPET products. For instance, as landfill taxes have soared in various countries, the cost of dumping is more than the PET recycling cost. Therefore, such factors are widening the scope and growth of the recycled PET market.

Question 4: Who are the eminent players in the recycled polyethylene terephthalate market?
Answer: Evergreen Plastics Inc, Portage Plastics, Carbonlite Industries, Phoenix Technologies, Indorama Ventures Public Ltd, Plastipak Holdings Inc, DuFor, Placon, Biffa, Libolon, Zhejiang Anshun Pettechs Fibre Co Ltd, Ultrepet, Clear Path Recycling LLC, PolyQuest, and Far Eastern New Century Corporation are eminent players in the recycled polyethylene terephthalate market.

Related Report:

Global Polyethylene Terephthalate (PET) Market - https://www.tritonmarketresearch.com/reports/polyethylene-terephthalate-market

Based on Triton's estimates, the global polyethylene terephthalate (PET) market is set to display a CAGR of 7.15% in revenue and 6.53% in volume during the forecast period 2021-2028.
The market's growth is supported by factors such as the rising adoption of ready-made food products, advancements in PET, and rising interest in ecological packaging.

Global Flexible Packaging Market - https://www.tritonmarketresearch.com/reports/flexible-packaging-market

As per Triton's report, the global flexible packaging market is likely to advance with a CAGR of 4.66% and 4.01% in revenue and volume, respectively, over the forecast period 2022-2028.

The global market's growth is driven by factors like the rise in demand for convenient packaging, the need for improved shelf life, and the rising demand for packaged food.

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This release was published on openPR.