Recycled Polyethylene Terephthalate Market - Forecast (2024 - 2030)
Recycled polyethylene terephthalate Market Overview
The Recycled polyethylene terephthalate market size is estimated to
reach US$16.5 billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030. Polyethylene
terephthalate (PET) is a recyclable plastic resin and a form of polyester. PET
polyester is composed of ethylene glycol (EG) and terephthalic acid (TPA), also
known as purified terephthalic acid (PTA). Recycled polyethylene terephthalate
is used in plastic bottles and food containers due to its protective
properties. Once the original PET containers are used by consumers, they undergo
a recycling program in a facility that cleans and transforms the plastic
into rPET flakes and pellets. The rPET flakes and pellets can then be reused to
make new products, such as plastic for food and beverage containers, fiber for
clothing and carpets, and others. Recycled
polyethylene terephthalate is environmentally friendly because it has a lower
carbon footprint than virgin polyethylene terephthalate. According to the PET resin
association (PETRA), more than 1.5 billion pounds of used PET bottles and
containers including beverage bottles and containers are recovered in the
United States each year for recycling. The increased demand for beverage
bottles and containers made of recycled polyethylene terephthalate (rPET) will
drive the recycled polyethylene terephthalate industry in the forecast period. The
increase in recycling programs like the recycling and litter prevention program
2021 program by the United States environmental protection agency (EPA), will
drive the recycled polyethylene terephthalate market.
COVID-19 Impact
The COVID-19 had
negatively impacted the recycled polyethylene terephthalate market. This is
because of the challenges faced during 2020, due to the closure of recycling centers
and disruption in curbside recycling because of lockdown conditions. According
to a report by National Association for PET container Resources (NAPCOR), the
recycling rate for the highly recyclable plastic resin PET plastic bottles made
of highly recyclable plastic resin in the U.S. stood at 26.6% in 2020, down
from the rate of 27.9% in 2019. Additionally, the collection of PET bottles
recorded a marginal decline of 2.3% in the U.S during 2020. With this decline
in the recycling rate of polyethylene terephthalate, there was a decline in the
recycled polyethylene terephthalate market.
Report Coverage
The report: “Recycled Polyethylene
Terephthalate Market– Forecast (2024-2030)” by IndustryARC covers an
in-depth analysis of the following segments of the Recycled polyethylene
terephthalate industry.
By Product Type: Colored Recycled
Polyethylene Terephthalate, Clear Recycled Polyethylene Terephthalate
By Application: Textile Fiber
(Clothing, Shoes, Bags, Carpet, Others), Sheet and Films, Industrial Strapping,
Food and Beverage (Food Containers, Beverage Bottles), Others
By Geography: North America
(USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands,
Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India,
South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest
of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South
America), Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and
Africa (South Africa, Nigeria, Rest of Africa)
Key Takeaways
- The increased demand for food and beverage containers and bottles made of recycled polyethylene terephthalate (rPET) will drive the recycled polyethylene terephthalate Market.
- The increased use of clear recycled polyethylene terephthalate made of highly recyclable plastic resin by beverage manufacturers like Coca-Cola will increase the growth of the recycled polyethylene terephthalate market.
- North America will be the fastest-growing region in the recycled polyethylene terephthalate market due to the increased demand for bottled water.
Figure: North America Recycled Polyethylene Terephthalate Market Revenue, 2021-2027 (US$ Billion)
For more details on this report - Request for Sample
Recycled Polyethylene Terephthalate Market Segment Analysis – By Product Type
Clear recycled polyethylene terephthalate holds the
largest share in the recycled polyethylene terephthalate market and is
expected to grow at a CAGR of 5.9% during the forecast period. Clear
rPET made by recycling plastic resin has low energy requirements and provides
easy bottle-to-bottle recycling. Additionally, clear rPET is highly durable,
lightweight, and non-reactive and thus food and beverage manufacturers prefer
clear flakes to produce containers and bottles, compared to colored. According
to a news article by Coco-Cola Company, Sprite will soon launch a 13.2-oz
bottle which is a 100% rPET clear bottle in the Northeast, California, and
Florida. All Sprite packaging will transition to clear packaging, which is
easier to be recycled and remade into new bottles, by the end of 2022. Thus,
due to the wide use of clear rPET flakes by major players in the beverage
industry, there will be increased growth in the Recycled polyethylene
terephthalate Market in the forecast period.
Recycled Polyethylene Terephthalate Market Segment Analysis – By Application
Bottles and containers are the fastest-growing
segment in the recycled polyethylene terephthalate market and is expected to
grow at a CAGR of 6.9%. Recycled
polyethylene terephthalate (rPET) which is made by recycling plastic resin
polyethylene terephthalate, is ideally suitable for a variety of food and
beverage applications including bottled water, carbonated soft drinks, juices,
fruit, baked goods, and others. It is mainly used in bottles, thermoformed
containers, and films, as well as other containers. This is because rPET has
higher package performance because of its higher intrinsic viscosity (IV) and
also has reduced CO2 emission during the manufacturing process. According to an
article by Natural mineral water’s Europe organization, nestle Water is
accelerating the use of recycled materials for the bottles of its natural
mineral water lines to have all of its bottles contain rPET by the end of 2021.
This is a major step toward Nestle Waters goal of achieving carbon neutrality
in the upcoming years. Thus, the increased use of recycled polyethylene
terephthalate in food and beverage containers and bottles will drive the recycled
polyethylene terephthalate market in the forecast period.
Recycled Polyethylene Terephthalate Market Segment Analysis – By Geography
North America held a significant share in the recycled
polyethylene terephthalate market in 2021.
This is due to the rise in demand for bottled water across this region. According
to the Beverage Marketing Corporation (BMC)- the US, the annual sales of
bottled water increased by 4.7% in 2020 and the consumption grew by 4.2%. There are many bottled water companies like Bisleri, that have been
voluntary including rPET in their containers by recycling plastic resin
polyethylene terephthalate. They offer their product in containers that are
made of 50, 75, or even 100 percent rPET. Thus, the growth of bottled water in the
North American region will increase the growth of the recycled polyethylene
terephthalate Market.
Recycled Polyethylene Terephthalate Market Drivers
Increasing growth in beverage containers in the
North America region
There has been significant growth in the demand for beverage
containers in the North American region. According to an article by Beverage
Marketing Corporation USA, in 2020, there has been an increase in the market
share of bottled water from 14.1 percent to 23.6 percent and Carbonated soft
drinks share has increased by 18.3 percent. This is because rPET bottled
water’s packaging has a negligible environmental footprint when compared to
other packaging types including aluminum, glass, paperboard cartons, and even
PET soda bottles. Owing to the demand for beverage bottles in North America,
there will be increased use of Recycled polyethylene terephthalate which will drive
the Recycled polyethylene terephthalate Market.
Growing recycling programs will drive the recycled polyethylene terephthalate market.
Owing to several recycling programs, there will be a growth in the supply of rPET. For instance, the United States Environmental Protection Agency (EPA) came up with EPA Recycling and Litter Prevention Program 2021 program which helps support businesses and academic institutions to initiate recycling programs, encourage sustainable practices, and support litter prevention efforts. The U.S. recycling infrastructure and programs will influence the amount of PET that is available to facilities to help them produce rPET made out of these plastic resins. According to an article by the International bottled water association, the association has approved an innovative framework for a material recovery program that helps in developing new, comprehensive solutions which to increase recycling processes throughout the United States.
Recycled Polyethylene Terephthalate Market Challenges
An increase in the amount of contamination is a major challenge for the recycled polyethylene terephthalate market
The increase in the amount of contamination is a major challenge for
the recycled polyethylene
terephthalate market.
This is due to the rise in the proportion of inhomogeneous components in the
material flow. According to an article by Food Packaging Forum, higher levels
of particle contamination were found in rPET which is produced by recycling plastic
resin polyethylene terephthalate, as compared to virgin PET, as well as in rPET
originating from co-collection systems compared with rPET from mono-collection
systems. Particle contamination is found
to be directly correlated with the haziness and color parameters of PET
bottles. The packaging market continues to grow at a strong pace, with a steady
beat of new products using new designs and materials. This has led to greater difficulty
in separating different resin types and thus increased contamination which
results in loss of materials and utilization rates.
Recycled Polyethylene Terephthalate Industry Outlook
Technology
launches, acquisitions, and R&D activities are key strategies that are
adopted by the dominant players in this market. Recycled polyethylene terephthalate top 10 companies include:
- Ulsan Chemical Co. Ltd.
- OCI Materials Co.
- Formosa Plastics Corporation U.S.A.
- Mitsui Chemicals Inc
- SK Materials Co. Ltd.
- Linde plc
- Central Glass Co Ltd
- Shandong FeiYuan Technology Co. Ltd.
- Liming Research Institute of Chemical Industry Co. Ltd.
- Navin Fluorine International Limited
Acquisitions/Technology Launches
- In August 2020, Indorama Ventures Public Company Limited (IVL), a major player in the recycled polyethylene terephthalate market, announced that it has entered into an acquisition with Industrie Maurizio Peruzzo Polowat, a PET recycling facility in Poland. This acquisition will consist of production sites having a combined capacity of 25,353 tons of recycled polyethylene terephthalate (rPET) flakes and 4,409 tons of rPET pellets.
- In October 2021, Placon announced that it is expanding its production capacity and employee base with the acquisition of a former Sonoco packaging operation in Wilson, North Carolina. Placon agreed to purchase substantially all operating equipment over a 112,000 square foot location. This expansion will help in expanding Placon’s thermoforming sustainable recycled PET packaging products.
Relevant Reports
Recycled Plastics Market – Forecast (2021 - 2026)
Lithium-ion Battery Recycling Market - Forecast(2021 - 2026)
Report Code: CMR 52597
For more Chemicals and Materials related reports, please click here
LIST OF TABLES
1.Global Recycled-Pet Market:Product Estimate Trend Analysis Market 2023-2030 ($M)1.1 Product Market Introduction Market 2023-2030 ($M) - Global Industry Research
1.2 Clear Recycled-Pet Market 2023-2030 ($M) - Global Industry Research
1.3 Colored Recycled-Pet Market 2023-2030 ($M) - Global Industry Research
2.Global Recycled-Pet Market:End-Use Estimate Trend Analysis Market 2023-2030 ($M)
2.1 End-Use Market Introduction Market 2023-2030 ($M) - Global Industry Research
2.2 Fiber Market 2023-2030 ($M) - Global Industry Research
2.2.1 Market Estimate Forecast Market 2023-2030 ($M)
2.3 Sheet And Film Market 2023-2030 ($M) - Global Industry Research
2.4 Strapping Market 2023-2030 ($M) - Global Industry Research
2.5 Food Beverage Container Bottle Market 2023-2030 ($M) - Global Industry Research
2.6 Non-Food Container Bottle Market 2023-2030 ($M) - Global Industry Research
3.Global Recycled-Pet Market:Product Estimate Trend Analysis Market 2023-2030 (Volume/Units)
3.1 Product Market Introduction Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Clear Recycled-Pet Market 2023-2030 (Volume/Units) - Global Industry Research
3.3 Colored Recycled-Pet Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Recycled-Pet Market:End-Use Estimate Trend Analysis Market 2023-2030 (Volume/Units)
4.1 End-Use Market Introduction Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Fiber Market 2023-2030 (Volume/Units) - Global Industry Research
4.2.1 Market Estimate Forecast Market 2023-2030 (Volume/Units)
4.3 Sheet And Film Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Strapping Market 2023-2030 (Volume/Units) - Global Industry Research
4.5 Food Beverage Container Bottle Market 2023-2030 (Volume/Units) - Global Industry Research
4.6 Non-Food Container Bottle Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Recycled-Pet Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
5.1 Product Market Introduction Market 2023-2030 ($M) - Regional Industry Research
5.2 Clear Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
5.3 Colored Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
6.North America Recycled-Pet Market:End-Use Estimate Trend Analysis Market 2023-2030 ($M)
6.1 End-Use Market Introduction Market 2023-2030 ($M) - Regional Industry Research
6.2 Fiber Market 2023-2030 ($M) - Regional Industry Research
6.2.1 Market Estimate Forecast Market 2023-2030 ($M)
6.3 Sheet And Film Market 2023-2030 ($M) - Regional Industry Research
6.4 Strapping Market 2023-2030 ($M) - Regional Industry Research
6.5 Food Beverage Container Bottle Market 2023-2030 ($M) - Regional Industry Research
6.6 Non-Food Container Bottle Market 2023-2030 ($M) - Regional Industry Research
7.South America Recycled-Pet Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
7.1 Product Market Introduction Market 2023-2030 ($M) - Regional Industry Research
7.2 Clear Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
7.3 Colored Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
8.South America Recycled-Pet Market:End-Use Estimate Trend Analysis Market 2023-2030 ($M)
8.1 End-Use Market Introduction Market 2023-2030 ($M) - Regional Industry Research
8.2 Fiber Market 2023-2030 ($M) - Regional Industry Research
8.2.1 Market Estimate Forecast Market 2023-2030 ($M)
8.3 Sheet And Film Market 2023-2030 ($M) - Regional Industry Research
8.4 Strapping Market 2023-2030 ($M) - Regional Industry Research
8.5 Food Beverage Container Bottle Market 2023-2030 ($M) - Regional Industry Research
8.6 Non-Food Container Bottle Market 2023-2030 ($M) - Regional Industry Research
9.Europe Recycled-Pet Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
9.1 Product Market Introduction Market 2023-2030 ($M) - Regional Industry Research
9.2 Clear Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
9.3 Colored Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
10.Europe Recycled-Pet Market:End-Use Estimate Trend Analysis Market 2023-2030 ($M)
10.1 End-Use Market Introduction Market 2023-2030 ($M) - Regional Industry Research
10.2 Fiber Market 2023-2030 ($M) - Regional Industry Research
10.2.1 Market Estimate Forecast Market 2023-2030 ($M)
10.3 Sheet And Film Market 2023-2030 ($M) - Regional Industry Research
10.4 Strapping Market 2023-2030 ($M) - Regional Industry Research
10.5 Food Beverage Container Bottle Market 2023-2030 ($M) - Regional Industry Research
10.6 Non-Food Container Bottle Market 2023-2030 ($M) - Regional Industry Research
11.APAC Recycled-Pet Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
11.1 Product Market Introduction Market 2023-2030 ($M) - Regional Industry Research
11.2 Clear Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
11.3 Colored Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
12.APAC Recycled-Pet Market:End-Use Estimate Trend Analysis Market 2023-2030 ($M)
12.1 End-Use Market Introduction Market 2023-2030 ($M) - Regional Industry Research
12.2 Fiber Market 2023-2030 ($M) - Regional Industry Research
12.2.1 Market Estimate Forecast Market 2023-2030 ($M)
12.3 Sheet And Film Market 2023-2030 ($M) - Regional Industry Research
12.4 Strapping Market 2023-2030 ($M) - Regional Industry Research
12.5 Food Beverage Container Bottle Market 2023-2030 ($M) - Regional Industry Research
12.6 Non-Food Container Bottle Market 2023-2030 ($M) - Regional Industry Research
13.MENA Recycled-Pet Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
13.1 Product Market Introduction Market 2023-2030 ($M) - Regional Industry Research
13.2 Clear Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
13.3 Colored Recycled-Pet Market 2023-2030 ($M) - Regional Industry Research
14.MENA Recycled-Pet Market:End-Use Estimate Trend Analysis Market 2023-2030 ($M)
14.1 End-Use Market Introduction Market 2023-2030 ($M) - Regional Industry Research
14.2 Fiber Market 2023-2030 ($M) - Regional Industry Research
14.2.1 Market Estimate Forecast Market 2023-2030 ($M)
14.3 Sheet And Film Market 2023-2030 ($M) - Regional Industry Research
14.4 Strapping Market 2023-2030 ($M) - Regional Industry Research
14.5 Food Beverage Container Bottle Market 2023-2030 ($M) - Regional Industry Research
14.6 Non-Food Container Bottle Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)2.Canada Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
3.Mexico Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
4.Brazil Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
5.Argentina Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
6.Peru Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
7.Colombia Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
8.Chile Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
9.Rest of South America Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
10.UK Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
11.Germany Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
12.France Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
13.Italy Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
14.Spain Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
15.Rest of Europe Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
16.China Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
17.India Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
18.Japan Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
19.South Korea Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
20.South Africa Recycled Polyethylene Terephthalate Market Revenue, 2023-2030 ($M)
21.North America Recycled Polyethylene Terephthalate By Application
22.South America Recycled Polyethylene Terephthalate By Application
23.Europe Recycled Polyethylene Terephthalate By Application
24.APAC Recycled Polyethylene Terephthalate By Application
25.MENA Recycled Polyethylene Terephthalate By Application
26.Ecostar Plastic, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Clear Path Recycling, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Verdeco Recycling, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Indorama Venture Public Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.M G Chemical, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Zhejiang Anshun Pettechs Fiber Co. Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Polyquest, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Evergreen Plastic, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Haiyan Haili Green Fiber Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Libolon, Sales /Revenue, 2015-2018 ($Mn/$Bn)