Recycled Polyethylene Terephthalate Market To Reach $18.8 Billion By 2030

Recycled Polyethylene Terephthalate Market Growth & Trends

The global recycled polyethylene terephthalate market size is anticipated to reach USD 18.8 billion by 2030, registering a CAGR of 8.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. 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.

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Recycled Polyethylene Terephthalate Market Report Highlights

• The clear product segment led the market and accounted for a revenue share of over 76% in 2023. 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

Recycled Polyethylene Terephthalate Market Segmentation

Grand View Research has segmented the recycled polyethylene terephthalate market report on the basis of product, source, grade, form, end-use, and regions:

Recycled Polyethylene Terephthalate Source Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Bottles & Containers

• Films & Sheets

• Others

Recycled Polyethylene Terephthalate??????? Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Grade A

• Grade B

Recycled Polyethylene Terephthalate??????? Form Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• rPET Flakes

• rPET Chips

Recycled Polyethylene Terephthalate??????? Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Clear

• Colored

Recycled Polyethylene Terephthalate??????? End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Fibers

• Films & Sheets

• Strapping

• Food & Beverage Containers and Bottles

• Non-Food Containers and Bottles

• Others

Recycled Polyethylene Terephthalate??????? Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • Sweden

  • UK

  • Italy

  • France

  • Spain

  • Poland

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Malaysia

  • Singapore

  • Thailand

  • Vietnam

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • United Arab Emirates (UAE)

  • South Africa

key players from RD under List of Key Players of Recycled Polyethylene Terephthalate Market

• 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