Market Definition:
The recycled PET market size was USD 10.9 billion in 2023 and is anticipated to reach USD 21.5 billion in 2033, growing at a rate of 6.9% from 2024 to 2033.
Recycled PET is a type of recycled plastic that is made from post-consumer plastic waste. PET is the most common type of plastic used in consumer products, and is often used in single-use packaging such as water bottles and soda bottles. Recycling PET helps to reduce the amount of waste that is sent to landfill, and can also be used to create new products.
To Know More: https://www.globalinsightservices.com/reports/recycled-pet-market/
Market Outlook:
The use of recycled PET has grown in popularity in recent years as companies look for ways to reduce their environmental impact. The recycling of PET helps to reduce the amount of waste that is sent to landfill, and it also reduces the need for virgin materials, which can help to conserve resources.
There are a number of different technologies that can be used to recycle PET, and the most common is mechanical recycling. This process involves shredding the material and then melting it down so that it can be reformed into new products.
Another popular method of recycling PET is chemical recycling, which breaks down the material into its component parts so that it can be used to create new products. This method is often used to recycle PET bottles into food-grade packaging.
Key Drivers
The key drivers of the recycled PET market include an increase in environmental awareness, the introduction of stringent environmental regulations, and the growing demand for sustainable packaging solutions.
The increase in environmental awareness has led to a growing demand for sustainable packaging solutions that minimize the impact on the environment. This has resulted in a shift in preference from virgin PET to recycled PET.
The introduction of stringent environmental regulations, such as the European Union’s directive on the reduction of the use of certain hazardous substances in electrical and electronic equipment, has also driven the demand for recycled PET.
Restraints & Challenges
The key restraints and challenges in Recycled PET market are:
1. Lack of awareness: There is lack of awareness about the benefits of recycling PET among consumers, which is hindering the growth of the recycled PET market.
2. High cost of recycling: The process of recycling PET is expensive, which is another challenge faced by the recycled PET market.
3. Stringent regulations: Stringent regulations regarding the disposal of PET waste are also hampering the growth of the recycled PET market.
Request Sample: https://www.globalinsightservices.com/request-sample/GIS20479
Research Objectives:
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Request Customization: https://www.globalinsightservices.com/request-customization/GIS20479
Market Segmentation
The recycled PET market is segmented into source, grade, color, application, and region. Based on source, the market is categorized into bottles, containers, films & sheets, and others. On the basis of grade, the market is categorized into grade A and grade B. Based on form, the market is divided into rPET flakes and rPET chips.Based on the color, the market is segmented into clear, and colored .Based on application, it is divided into fibers, films & sheets, strapping, food & beverage containers and bottles, non-food containers and bottles, and others. Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World.
Key Players
The recycled PET market is characterized by a high degree of consolidation, with a limited number of key players dominating the market. Major contributors include Placon (EcoStar), Clear Path Recycling LLC, Verdeco Recycling, Inc., Indorama Ventures Public Ltd., Zhejiang Anshun Pettechs Fibre Co., Ltd., PolyQuest, Phoenix Technologies, Libolon, Biffa, Avery Dennison Corporation, Lotte Chemical Corporation, ALPLA, ALBA Group, Ds Smith, Far Eastern New Century Corporation , Kaptan Group Holdings AS, Krones AG, Libolon, Reliance Industries Ltd , Repro-PET, Veolia, REMONDIS recycling and Evergreen Plastics (Polychem Corporation), among others.
Request Discounted Pricing: https://www.globalinsightservices.com/request-special-pricing/GIS20479
Research Scope:
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
Buy your copy here: https://www.globalinsightservices.com/checkout/single_user/GIS20479
About Us:
With Global Insight Services, you receive:
• 10-year forecast to help you make strategic decisions
• In-depth segmentation which can be customized as per your requirements
• Free consultation with lead analyst of the report
• Infographic excel data pack, easy to analyze big data
• Robust and transparent research methodology
• Unmatched data quality and after sales service
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.