#Recycled Polyethylene Terephthalate Market Share

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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)

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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.

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.

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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.

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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

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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.

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Recycled Polyethylene Terephthalate Market Size Worth $ 14.40 Billion By 2028: Grand View Research Inc.

Recycled Polyethylene Terephthalate Market Size Worth $ 14.40 Billion By 2028: Grand View Research Inc.

San Francisco, 20 May 2021: The Report Recycled Polyethylene Terephthalate Market Size, Share & Trends Analysis Report By Product (Clear, Colored), By End Use (Fiber, Food & Beverage Containers & Bottles), By Region, And Segment Forecasts, 2021 – 2028 The global recycled polyethylene terephthalate market size is expected to reach USD 14.40 billion by 2028, according to a new study by Grand View…

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Recycled Polyethylene Terephthalate Market | Size Analysis and Demand with Forecast Overview to 2023

Recycled Polyethylene Terephthalate Market Research Report: Information by Type (Clear and Colored), End-Use Industry (Fibers, Sheets and Films, Strapping, Food-Grade Bottle and Containers, Non-Food-Grade Bottle and Containers and others) and Region (Asia-Pacific, North America, Europe, Latin America and the Middle East & Africa) – Global Forecast till 2025

Key Players:

Placon (US), Clear Path Recycling (US), Verdeco Recycling Inc. (US), Indorama Ventures Public Company Limited (Thailand), Zhejiang Anshun Pettechs Fiber Co., Ltd (China), Polyquest (US), Evergreen Plastics (US), Montello S.p.A. (Italy), Phoenix Technologies (US), M&G Chemicals (Luxembourg), and LIBOLON (Taiwan).

Market Overview:

Recycled Polyethylene Terephthalate was valued USD 7,092.12 Million in 2018 and is expected to exhibit a CAGR of around 8.5% during the forecast period. Recycled polyethylene terephthalate (RPET) is produced using post-consumer PET bottles and containers. RPET is used in fiber for carpets, clothes, upholstery, sweaters, fiber-fill for sleeping bags and cushions, and others; sheets and films; strapping; food-grade bottles and containers for packaged carbonated beverages, water, salad dressing, cooking oil, peanut butter, fruit, and condiments; non-food-grade bottles and containers for detergents and cosmetics; and others. The RPET offers similar performance to virgin PET.

The key factors driving the market growth include the increasing use of RPET fiber, growing application in the packaging industry, and government initiatives promoting the use of RPET. The growing use of RPET in road construction and concrete production and its use in water filtration nanofibers is expected to offer opportunities for growth in the years to come.

However, challenges in the manufacturing of RPET such as manufacturing process loss of around 20–22% is the key barrier to growth and is likely to continue inhibiting the product market until new efficient manufacturing technology is introduced in the market.

Market Dynamics:

Government initiatives promoting environmental protection are driving the growth of the recycled polyethylene terephthalate market. These initiatives include funding for waste collection and awareness campaigns, among others. For example, the European Union framed the Packaging and Packaging Waste Directive (PPWD), which presently has a recycling target for plastic packaging of 22.5%. PET recycling is a significant contributor to the achievement of this target in EU member states. Furthermore, the plastic ban in countries in Asia-Pacific such as India, Indonesia, Bangladesh, and Sri Lanka is projected to result in the increased recycling of PET. Also, regulations for plastic waste reduction by government bodies such as the California Department of Resources Recycling and Recovery in the US may drive market growth during the assessment period.

Segmentation:

The global recycled polyethylene terephthalate market has been classified by the type, application, and region.

Based on type, the global market has been segmented into clear and colored. The clear segment accounted for the larger market share in 2018 and is expected to register a higher CAGR of over 8.5% during the forecast period. The growth of this market segment can be attributed to its low processing cost.

Based on application, the global market has been segmented into fibers, sheets and films, strapping, food-grade bottle and containers, non-food-grade bottles and containers, and others. The fibers segment accounted for the largest share of around 70% in 2018. This growth can be attributed to the surge in demand for clothing in countries with large populations, such as India, China, the US, and Indonesia, and the cost-effectiveness of recycled polyester fiber and their preference over conventional fiber. RPET fiber is also used in furniture and automobile seats and mats, among others. Therefore, the dominance of the RPET fiber segment is expected to continue during the forecast period.

Regional Analysis:

The global recycled polyethylene terephthalate market has been segmented, based on region, into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Asia-Pacific is a prominent regional market for recycled polyethylene terephthalate, accounting for 55% of the global market in 2018. Countries such as China, India, Japan, and Indonesia are the key contributors to the growth of the regional market. Population growth, rapid industrialization, economic reforms, and government initiatives for waste recycling are the key factors driving the growth of the market. Most importantly, advancements in recycling technological, driven by increasing foreign direct investment (FDI), are expected to drive market growth.

Europe is the second-largest regional market, with Russia, the UK, Germany, Italy, and Belgium accounting for the majority share. Germany is the most promising country-level market, accounting for around 28% in 2018; the German market was valued at USD 370.49 million in 2018. The production and export of textiles in Germany and Italy are the highest, playing a vital role in RPET demand in Europe. The regional market is expected to grow due to initiatives for plastic waste recycling by the EU.

The end-users of recycled PET flakes are introducing products such as t-shirts, water bottles, beverage bottles, and cans, providing an impetus to the recycling industry and helping reduce the global waste problem.

In February 2018, Nestlé Waters North America, Inc. launched a new bottle made from 100% RPET for its Nestlé Pure Life Purified Water brand.

Market Segmentation:

Global Recycled Polyethylene Terephthalate Market, by Type

Clear

Colored

Intended Audiences:

Recycled polyethylene terephthalate manufacturers

Suppliers and traders

Government, associations, and industrial bodies

Investors and trade experts

Consulting in chemical experts

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Recycled Polyethylene Terephthalate Market | Size Analysis and Demand with Forecast Overview to 2023

Recycled Polyethylene Terephthalate Market Research Report: Information by Type (Clear and Colored), End-Use Industry (Fibers, Sheets and Films, Strapping, Food-Grade Bottle and Containers, Non-Food-Grade Bottle and Containers and others) and Region (Asia-Pacific, North America, Europe, Latin America and the Middle East & Africa) – Global Forecast till 2025

Key Players

Placon (US), Clear Path Recycling (US), Verdeco Recycling Inc. (US), Indorama Ventures Public Company Limited (Thailand), Zhejiang Anshun Pettechs Fiber Co., Ltd (China), Polyquest (US), Evergreen Plastics (US), Montello S.p.A. (Italy), Phoenix Technologies (US), M&G Chemicals (Luxembourg), and LIBOLON (Taiwan).

Market Overview

Recycled Polyethylene Terephthalate was valued USD 7,092.12 Million in 2018 and is expected to exhibit a CAGR of around 8.5% during the forecast period. Recycled polyethylene terephthalate (RPET) is produced using post-consumer PET bottles and containers. RPET is used in fiber for carpets, clothes, upholstery, sweaters, fiber-fill for sleeping bags and cushions, and others; sheets and films; strapping; food-grade bottles and containers for packaged carbonated beverages, water, salad dressing, cooking oil, peanut butter, fruit, and condiments; non-food-grade bottles and containers for detergents and cosmetics; and others. The RPET offers similar performance to virgin PET.

The key factors driving the market growth include the increasing use of RPET fiber, growing application in the packaging industry, and government initiatives promoting the use of RPET. The growing use of RPET in road construction and concrete production and its use in water filtration nanofibers is expected to offer opportunities for growth in the years to come.

However, challenges in the manufacturing of RPET such as manufacturing process loss of around 20–22% is the key barrier to growth and is likely to continue inhibiting the product market until new efficient manufacturing technology is introduced in the market.

Market Dynamics

Government initiatives promoting environmental protection are driving the growth of the recycled polyethylene terephthalate market. These initiatives include funding for waste collection and awareness campaigns, among others. For example, the European Union framed the Packaging and Packaging Waste Directive (PPWD), which presently has a recycling target for plastic packaging of 22.5%. PET recycling is a significant contributor to the achievement of this target in EU member states. Furthermore, the plastic ban in countries in Asia-Pacific such as India, Indonesia, Bangladesh, and Sri Lanka is projected to result in the increased recycling of PET. Also, regulations for plastic waste reduction by government bodies such as the California Department of Resources Recycling and Recovery in the US may drive market growth during the assessment period.

Segmentation

The global recycled polyethylene terephthalate market has been classified by the type, application, and region.

Based on type, the global market has been segmented into clear and colored. The clear segment accounted for the larger market share in 2018 and is expected to register a higher CAGR of over 8.5% during the forecast period. The growth of this market segment can be attributed to its low processing cost.

Based on application, the global market has been segmented into fibers, sheets and films, strapping, food-grade bottle and containers, non-food-grade bottles and containers, and others. The fibers segment accounted for the largest share of around 70% in 2018. This growth can be attributed to the surge in demand for clothing in countries with large populations, such as India, China, the US, and Indonesia, and the cost-effectiveness of recycled polyester fiber and their preference over conventional fiber. RPET fiber is also used in furniture and automobile seats and mats, among others. Therefore, the dominance of the RPET fiber segment is expected to continue during the forecast period.

Regional Analysis

The global recycled polyethylene terephthalate market has been segmented, based on region, into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Asia-Pacific is a prominent regional market for recycled polyethylene terephthalate, accounting for 55% of the global market in 2018. Countries such as China, India, Japan, and Indonesia are the key contributors to the growth of the regional market. Population growth, rapid industrialization, economic reforms, and government initiatives for waste recycling are the key factors driving the growth of the market. Most importantly, advancements in recycling technological, driven by increasing foreign direct investment (FDI), are expected to drive market growth.

Europe is the second-largest regional market, with Russia, the UK, Germany, Italy, and Belgium accounting for the majority share. Germany is the most promising country-level market, accounting for around 28% in 2018; the German market was valued at USD 370.49 million in 2018. The production and export of textiles in Germany and Italy are the highest, playing a vital role in RPET demand in Europe. The regional market is expected to grow due to initiatives for plastic waste recycling by the EU.

The end-users of recycled PET flakes are introducing products such as t-shirts, water bottles, beverage bottles, and cans, providing an impetus to the recycling industry and helping reduce the global waste problem.

In February 2018, Nestlé Waters North America, Inc. launched a new bottle made from 100% RPET for its Nestlé Pure Life Purified Water brand.

Market Segmentation

Global Recycled Polyethylene Terephthalate Market, by Type

Clear

Colored

Global Recycled polyethylene terephthalate Market, by Application

Fibers

Sheets and Films

Strapping

Food-Grade Bottle and Containers

Non-Food-Grade Bottle and Containers

Others

Global Recycled polyethylene terephthalate Market, By Region

North America

US

Canada

Europe

Germany

UK

France

Spain

Italy

Russia

Rest of Europe

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Latin America

Brazil

Mexico

Argentina

Rest of Latin America

Middle East & Africa

Turkey

Saudi Arabia

UAE

Rest of Middle East & Africa

Intended Audiences:

Recycled polyethylene terephthalate manufacturers

Suppliers and traders

Government, associations, and industrial bodies

Investors and trade experts

Consulting in chemical experts