The global recycled Polyethylene Terephthalate (RPET) market size was USD 2.1 Billion in 2021 and is expected to register a revenue CAGR of 15.8% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for recycled PET from various end-use industries coupled with shift toward sustainability are some key factors driving market revenue growth. Increasing consumer support of sustainability and focus on circular economy are driving high demand for sustainable packaging. Major companies are undertaking initiatives for promoting the circular economy. For example, Evian is expected to utilize recycled plastics for 100% of the plastics being used by 2025, while PepsiCo is expected to recycle around 75% of packaging waste by 2030.
The latest research report is dubbed as the first document encompassing the latest information about the Recycled Polyethylene Terephthalate market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Recycled Polyethylene Terephthalate industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities,
Some Key Highlights
- Flakes segment accounted for a comparatively larger revenue share in 2021. Increasing demand for rPET for various end-use applications such as food-grade packaging, film reels, automobile seats and covers, conveyor belts, and Polyester Staple Fiber (PSF) is a key factors expected to drive revenue growth of this segment during the forecast period. Majority of recycled PET flakes produced are utilized for staple fiber applications such as upholstery, clothing and texturized yarn, among others in the textile sector owing to environmental sustainability. Recycled PET is lighter than various alternatives of raw materials such as glass, emissions during production using rPET is significantly lesser than from other virgin materials, and demand is high in the Fast Moving Consumer Good (FMCG) market.
- Clear segment revenue is expected to grow at a steady rate over the forecast period. Ease of bottle-to-bottle recycling, durable packaging, reduced carbon footprint, and low energy consumption for manufacturing are some of the major factors expected to drive demand for clear recycled PET during the forecast period. Clear packaging enables consumers to inspect the product before buying thereby increasing sales. Durability, light weigh, and the protective nature of rPET are key factors attributing to growing demand in various industries such as FMCG, and for packaging of personal care, cosmetics, and pharmaceutical products, among others.
- Bottles & containers segment accounted for a significantly robust revenue share in 2021. Availability of virgin plastic materials for containers, and increasing sustainability commitments and CSR activities by major companies are boosting growth of the segment.
Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key Players operating in the Healthcare Business Intelligence industry are:
Placon, Clear Path Recycling, Indorama Ventures Public Company Limited, MG Chemicals, Verdeco Recycling, Loop Industries, Inc., PolyQuest, Inc., Phoenix Technologies Inc., Evergreen, and Biffa.
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Emergen Research has segmented the global recycled PET market on the basis of type, product, source, application, and region:
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Type Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
- Flakes
- Chips
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Product Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
- Clear
- Colored
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Source Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
- Bottles & containers
- Films & sheets
- Others
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Application Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
- Bottles & containers
- Fiber
- Strapping
- Sheet & film
- Others
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A closer look at the aspects including but not limited to market segmentation by the end-user, end-use, geography, type, and application forms an integral part of the research report. In addition, in-depth analysis of critical factors such as spending capability, gross margin, business environment and profit for the forecast period 2021 – 2028 holds critical information and is based on curated facts and logical arguments. Importantly, validation of statistics recent acquisitions and mergers, collaborations and product launches serve as testimonials for stakeholders, field marketing personnel, product manufacturers and business evangelists on how a product will be positioned in the real world in years to come.
Major Regions Covered in the Recycled Polyethylene Terephthalate Market Report:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Reasons to Buy This Report:
- The report presents a thorough examination of the Recycled Polyethylene Terephthalate market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
- The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
- The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
- The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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