Recycled PET Market size, share, demand and Opportunities Analysis by 2031 | PolyQuest, OCTAL, Loop Industries, Evergreen, and PLACON

Global Recycled PET Market report from Global Insight Services is the single authoritative source of intelligence on Recycled PET Market .  The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Recycled PET is a type of recycled plastic that is made from post-consumer plastic waste. PET is the most common type of plastic used in consumer products, and is often used in single-use packaging such as water bottles and soda bottles. Recycling PET helps to reduce the amount of waste that is sent to landfill, and can also be used to create new products.

Key Trends

The use of recycled PET has grown in popularity in recent years as companies look for ways to reduce their environmental impact. The recycling of PET helps to reduce the amount of waste that is sent to landfill, and it also reduces the need for virgin materials, which can help to conserve resources.

There are a number of different technologies that can be used to recycle PET, and the most common is mechanical recycling. This process involves shredding the material and then melting it down so that it can be reformed into new products.

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Another popular method of recycling PET is chemical recycling, which breaks down the material into its component parts so that it can be used to create new products. This method is often used to recycle PET bottles into food-grade packaging.

Key Drivers

The key drivers of the recycled PET market include an increase in environmental awareness, the introduction of stringent environmental regulations, and the growing demand for sustainable packaging solutions.

The increase in environmental awareness has led to a growing demand for sustainable packaging solutions that minimize the impact on the environment. This has resulted in a shift in preference from virgin PET to recycled PET.

The introduction of stringent environmental regulations, such as the European Union's directive on the reduction of the use of certain hazardous substances in electrical and electronic equipment, has also driven the demand for recycled PET.

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Restraints & Challenges

The key restraints and challenges in Recycled PET market are:

Lack of awareness: There is lack of awareness about the benefits of recycling PET among consumers, which is hindering the growth of the recycled PET market.
High cost of recycling: The process of recycling PET is expensive, which is another challenge faced by the recycled PET market.
Stringent regulations: Stringent regulations regarding the disposal of PET waste are also hampering the growth of the recycled PET market.

Market Segmentation

The Recycled PET market is segmented by type, source, application and region. By type, the market is divided into flakes and chips. By application, the market is classified into bottles, fiber, sheets, and strapping. By source, the market is bifurcated into bottles & containers, films & sheets and others. Region-Wise the market is segmented into North America, Europe, Asia-Pacific and rest of the World.

Key Players

Some of the leading players operating in the recycled PET market include Indorama Venturers Public Limited, Biffa plc, Far Eastern New Century Corporation, Plastipak Holding Inc., Alpek , PolyQuest, OCTAL, Loop Industries, Evergreen, and PLACON.

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