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Recycled Polyethylene Terephthalate Market Size, Share, Statistics, Demand And Revenue, Forecast 2033
Recycled Polyethylene Terephthalate Market Size
As per the report, the recycled polyethylene terephthalate market size has grown strongly in recent years. It will grow from $9.89 billion in 2023 to $10.84 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The recycled polyethylene terephthalate market size is expected to see strong growth in the next few years. It will grow to $15.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%.
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Increasing Demand For Sustainable Packaging Driving Recycled Polyethylene Terephthalate Market
The increase in demand for sustainable packaging solutions is driving the growth of the recycled polyethylene terephthalate market. According to Placon, the leading designer and manufacturer of plastic thermoforming and injection-molded packaging, the coming decade will see the collection of post-consumer beverage bottles reach close to 100%. Recycling is critical to a sustainable future as it delivers fewer greenhouse gases and generates less waste. Global brands are including more and more recycled content in their packaging to meet consumer demands. The most popular and widely used brands, like Coca-Cola, PepsiCo, Unilever, Danone, and Nestle, have all made commitments to include up to 100% recycled plastic in their packaging. These companies recognize the value of PET, not just from an economical standpoint but also from a holistic sustainability standpoint. Major FMCG (fast-moving consumer goods) brands such as PepsiCo, Nestle, Coca-Cola, Mars, and Unilever are challenging their suppliers to achieve the target of 100% compostable, reusable, and recyclable packaging by 2025.
Advancements In Recycling Technologies Drive Growth Of The Recycled Polyethylene Terephthalate (RPET) Market
Technology advancement activities are a key trend gaining popularity in the recycled polyethylene terephthalate market, such as PET, the XTREME Renew process, and others. Innovative recycling and recovery techniques and technologies have enormous economic value in transforming post-use and difficult-to-recycle plastic. They can be converted into their original building blocks that can be continually reintegrated into supply chains as feedstocks for new plastics and chemicals, other raw materials for manufacturing, and lower-environmental-footprint transportation fuels. Advanced recycling can handle impurities, contamination, mixed polymers, and low-quality, low-density plastics. Other than these printing wastes, manufacturers also utilize PET waste from other streams for this purpose, thus lowering material costs. In 2021, LiquiGlide technology was adopted that removes friction, allowing thick, slow-moving liquids to flow more easily. This was used by Colgate's new clear PET toothpaste container.
The recycled polyethylene terephthalate market covered in this report is segmented -
1) By Product: Clear, Colored
2) By Application: Fiber, Sheet and Film, Strapping, Food & Beverage Containers and Bottles, Non-Food Containers and Bottles
3) By End-Use Industry: Packaging, Electrical & Electronics, Automotive, Construction
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Major companies operating in the recycled polyethylene terephthalate market include Placon Corporation, Antares Chem Private Limited, BariQ Ltd., Clear Path Recycling LLC, Evergreen Plastic Container Inc., Indorama Ventures Public Company Limited, Lealea Enterprise Co. Ltd., M&G Chemicals S.A, Montello Spa, Phoenix Technologies Ltd., PolyQuest Inc., Verdeco Recycling Midwest Inc., Zhejiang Anshun Pettechs Fibre Co. Ltd.,, , Alpek SAB de CV, Cooperativa Central Aurora Alimentos Ltd., CarbonLite Industries LLC, Denton Plastics Inc., Extrupet Pty Ltd., Loop Industries Inc., LyondellBasell Industries NV, MFX do Brasil Equipamentos de Petróleo Ltd., Mohawk Industries Inc., PetStar Holding Company SA, Plastipak Holdings Inc., Polindo Utama, rPlanet Earth, Starlinger & Co. GmbH, The Coca-Cola Company, UltrePET LLC, Unifi Inc., Vanden Global Ltd., Verallia UK Ltd., Wellman Plastics Recycling LLC
Contents of the report:
1. Executive Summary
2. Recycled Polyethylene Terephthalate Market Report Structure
3. Recycled Polyethylene Terephthalate Market Trends And Strategies
4. Recycled Polyethylene Terephthalate Market - Macro Economic Scenario
5. Recycled Polyethylene Terephthalate Market Size And Growth
…..
27. Recycled Polyethylene Terephthalate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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