Anew R-PET industry analysis report by Fact.MR anticipates the market to be valued at US$ 1.9 Bn in 2021, and is projected to expand at a CAGR of around 8% during the period 2021-2031. Further, Fact.MR, a market research and competitive intelligence provider, estimates the market to surpass a valuation of US$ 4.2 Bn by 2031-end. This growth can be mainly attributed to the adoption of the circular economy business model among manufacturers, thus propelling recycled PET demand.
Additionally, major investments in terms of capacity expansion can be seen carried out by market players responding to surge in demand for recycled PETs. Key players such as Indorama Ventures, Carbonlite Industries, and ALPLA are focusing majorly on expansion of their production capacities in high-growth regions such as Asia Pacific, North America, and Europe.
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Main Segments Covered in R-PET Industry Research
- By Source
- Post-Consumer PET
- Post-Industrial PET
- By Colour
- Clear R-PET
- Coloured R-PET
- By Product Type
- R-PET Flakes
- R-PET Resins
- R-PET Fibers
- By End Use
- Packaging
- Food & Beverages
- Pharma Products
- Personal Care Products
- Others
- Non-packaging
- Sportswear
- Shoes
- Home Textiles
- Industrial Textiles
- Strapping
- Others
- Packaging
Key Takeaways from Market Study
- Post-consumer PET, under source type, is projected to provide an absolute $ opportunity worth US$ 2.15 Bn during the forecast period.
- Based on colour, clear R-PETs is projected to rise at a higher CAGR of around 8.1% over the decade.
- On the basis of product type, consumption of flakes is anticipated to expand around 2.1X by 2031.
- East Asia is projected to capture around 32% global market share by 2031.
- South Asia & Oceania is slated to provide an absolute $ opportunity worth US$ 309.3 Mn by 2031-end.
“Recyclers and producers of R-PET should opt for a collaborative approach with key FMCG players to replace virgin plastic usage in the food & beverage segment,” says a Fact.MR analyst.
Competition Landscape: Top R-PET Companies
Top manufacturers of clear recycled PET have mainly adopted a mix of organic and in-organic growth strategies such as capacity expansion, acquisitions, and collaborations. Companies are trying to expand their business in different regions, which would help them garner more segmental share.
- In May 2021, Clean Tech’s parent company Plastikpak announced an investment in one of its manufacturing site based in Toledo, Spain. The investment is aimed at expanding its R-PET production capacity in Europe.
- In June 2021, Indorama Ventures announced the acquisition of CarbonLite Holdings’ facility in Texas. Through this acquisition, the company aims at expanding its footprint in North America along with rapidly increasing its production capacity.
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