The global recycled polyethylene terephthalate market size is anticipated to reach USD 18.7 billion by 2030, registering a CAGR of 8.3% from 2023 to 2030. The growth of the market can be attributed to the rising sustainability measures undertaken by food & beverage and packaging companies. The growing efforts for a circular economy by end-users and increasing adoption of recycled plastics in the packaging, textiles, and other end-use industries are anticipated to drive the demand for recycled polyethylene terephthalate (PET) during the forecast period. Furthermore, recycled polyethylene terephthalate (rPET) is used for developing both, colored and clear (white/non-colored) products.
However, clear rPET products are the most sought after by both, recyclers and end-use industries owing to their lower costs than colored rPET products. Colored rPET is preferred by packaging product and bottle manufacturers as it gives them brand identity and ensures the development of products with improved aesthetics. However, clear rPET products are the most sought after by both, recyclers and end-use industries owing to their lower costs than colored rPET products. Furthermore, the ban on landfills has been introduced in several developed nations in North America and Europe, such as Austria, Germany, the Netherlands, France, Denmark, Belgium, and several states in the U. S. and Canadian provinces.
In Europe, landfill bans have existed for decades. Furthermore, plans are being developed in the UK, and Australia has legislated the introduction of a range of bans in the next few years. In addition, various end-use industries have implemented the utilization of rPET for the manufacturing of their products. This enables them to control the raw material cost, along with positioning themselves as an environmentally-friendly product developer in comparison to their counterparts. For instance, On May 9, 2023, the company announced the acquisition of Iber Resinas SL, a Spain-based plastic recycling company. With this acquisition, TotalEnergies is projected to expand its footprint in the European markets.
However, clear rPET products are the most sought after by both, recyclers and end-use industries owing to their lower costs than colored rPET products. Colored rPET is preferred by packaging product and bottle manufacturers as it gives them brand identity and ensures the development of products with improved aesthetics. However, clear rPET products are the most sought after by both, recyclers and end-use industries owing to their lower costs than colored rPET products. Furthermore, the ban on landfills has been introduced in several developed nations in North America and Europe, such as Austria, Germany, the Netherlands, France, Denmark, Belgium, and several states in the U. S. and Canadian provinces.
In Europe, landfill bans have existed for decades. Furthermore, plans are being developed in the UK, and Australia has legislated the introduction of a range of bans in the next few years. In addition, various end-use industries have implemented the utilization of rPET for the manufacturing of their products. This enables them to control the raw material cost, along with positioning themselves as an environmentally-friendly product developer in comparison to their counterparts. For instance, On May 9, 2023, the company announced the acquisition of Iber Resinas SL, a Spain-based plastic recycling company. With this acquisition, TotalEnergies is projected to expand its footprint in the European markets.
Recycled Polyethylene Terephthalate Market Report Highlights
- The North America regional market was estimated at USD 10.1 billion in 2022 and is expected to grow at a CAGR of 8.3% from 2023 to 2030
- The clear product segment led the market and accounted for a revenue share of over 76.0% in 2022. Low energy requirements and ease of bottle-to-bottle recycling are expected to drive the product demand over the forecast period. The segment is expected to witness a high growth rate owing to its non-reactive & shatterproof properties and excellent durability & low weight
- Major application areas of colored rPET are automotive trays, in-process protective packaging, electronics & electrical packaging, containers, transit trays, healthcare packaging, and other plastic trays. Colored rPET is used in the production of fabrics and clothing and various packaging applications
- A rise in bottle-to-bottle production and growth of the beverages market in Asia Pacific are expected to drive rPET market growth over the forecast period. Recycled PET packaging for food & beverages provides thermal insulation and environmental impact resistance. The packaging also proves to be cost-effective owing to the low cost involved in its production
- Increasing spending on commissioning manufacturing units, particularly in Asia Pacific, is expected to boost the demand for rPET in the non-food bottles & containers segment. Government subsidies in the form of tax incentives in countries, such as China, India, Vietnam, Indonesia, and Thailand, across various industries, such as bottles and containers, are expected to drive the product demand
Table of Contents
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Recycled Polyethylene Terephthalate Market Variables, Trends, and Scope
Chapter 4 Recycled Polyethylene Terephthalate Market: Product Estimates & Trend Analysis
Chapter 5 Recycled Polyethylene Terephthalate Market: End-use Estimates & Trend Analysis
Chapter 6 Recycled Polyethylene Terephthalate Market: Regional Estimates & Trend Analysis
Chapter 7 Recycled Polyethylene Terephthalate Market: Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- 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
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 107 |
| Published | August 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 10.1 Billion |
| Forecasted Market Value ( USD | $ 18.7 Billion |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
