What Has Been The Historical And Current Growth Of The Recycled Polyethylene Terephthalate Market?
The recycled polyethylene terephthalate market has seen considerable growth due to a variety of factors.
• Recent years have seen robust growth in the recycled polyethylene terephthalate market size. The market, valued at $10.77 billion in 2024, is forecasted to reach $11.76 billion in 2025, with an anticipated compound annual growth rate (CAGR) of 9.3%.
The historical growth can be credited to factors including the increasing demand for recycled and sustainable plastics, the growth in food and beverage packaging, the development of pet recycling framework, advancements in rpet manufacturing processes, and the establishment of regulatory standards for plastic recycling.
What Is The Forecast For The Recycled Polyethylene Terephthalate Market By 2029?
The recycled polyethylene terephthalate market is expected to maintain its strong growth trajectory in upcoming years.
• The market for recycled polyethylene terephthalate is predicted to experience a significant surge in its size in the upcoming years. It is forecasted to reach the value of $17.37 billion in 2029, with an impressive compound annual growth rate (CAGR) of 10.2%.
Factors propelling the growth during the forecast period include bespoke RPET solutions catering to unique product applications, use of RPET in 3D printing and additive manufacturing, applying sustainable and circular economy models in RPET production, broadened use in the automotive industry for RPET parts, and the use of RPET in packaging for cosmetics and personal care products. Major trends predicted for the forecast period incorporate adherence to RPET safety and recycling guidelines, intelligent and traceable RPET goods, tailor-made RPET solutions suitable for both brands and consumers, transparency in the procurement and supply chain of RPET material, as well as the utilization of artificial intelligence for assuring quality in RPET production.
Which Drivers Are Accelerating Growth In The Recycled Polyethylene Terephthalate Market?
The upswing in demand for eco-friendly packaging solutions is propelling the recycled polyethylene terephthalate market's expansion. Forecasts by Placon, a prominent designer and producer of plastic thermoforming and injection-molded packaging, suggest that around 100% of post-consumer beverage bottles will be gathered in the forthcoming decade. Recycling is pivotal for the path towards sustainability given its lower greenhouse gas emissions and less waste production. Major global brands are incorporating increasing quantities of recycled content in their packaging in response to customer needs. Giant names such as Coca-Cola, PepsiCo, Unilever, Danone, and Nestle, are pledging to use up to 100% recycled plastic in their packaging. These firms acknowledge the worth of PET not only from a financial perspective but also in terms of comprehensive sustainability. Significant fast-moving consumer goods (FMCG) brands including PepsiCo, Nestle, Coca-Cola, Mars, and Unilever are setting goals for their suppliers to reach 100% compostable, reusable, and recyclable packaging by 2025.
What Are The Core Segments Of The Global Recycled Polyethylene Terephthalate Market?
The recycled polyethylene terephthalate market covered in this report is segmented –
1) By Product: Clear, Colored
2) By Application: Fiber, Sheet and Film, Strapping, Food & Beverage Containers and Bottles, Non-Food Containers and Bottles
3) By End-Use Industry: Packaging, Electrical & Electronics, Automotive, Construction
Subsegments:
1) By Clear: Post-Consumer Clear rPET, Post-Industrial Clear rPET
2) By Colored: Post-Consumer Colored rPET, Post-Industrial Colored rPET, Specific Colors
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Which Emerging Trends Are Reshaping The Recycled Polyethylene Terephthalate Market Size?
The surge in technology development efforts is a primary trend gaining traction in the recycled polyethylene terephthalate market. For example, in October 2023, Coca-Cola India, an entity of The Coca-Cola Company dealing with beverages, introduced new bottles made entirely from recycled polyethylene terephthalate (rPET), signifying a drastic progress towards sustainability in the beverage sector. The rPET bottles come in two sizes: 250ml and 750ml. These bottles are specifically designed for carbonated drink usage. This initiative is a part of Coca-Cola India's extensive pledge to sustainability, with the goal to decrease dependence on new plastics and champion a circular economy.
Who Are the Key Players in the Recycled Polyethylene Terephthalate Market?
Major companies operating in the recycled polyethylene terephthalate market include:
• Placon Corporation
• Antares Chem Private Limited
• BariQ Ltd.
• Clear Path Recycling LLC
• Evergreen Plastic Container Inc.
• Indorama Ventures Public Company Limited
• Lealea Enterprise Co. Ltd.
• M&G Chemicals S.A
• Montello Spa
• Phoenix Technologies Ltd.
• PolyQuest Inc.
• Verdeco Recycling Midwest Inc.
• Zhejiang Anshun Pettechs Fibre Co. Ltd.
• Alpek SAB de CV
• CarbonLite Industries LLC
• Denton Plastics Inc.
• Extrupet Pty Ltd.
• Loop Industries Inc.
• LyondellBasell Industries NV
• MFX do Brasil Equipamentos de Petróleo Ltd.
• Mohawk Industries Inc.
• PetStar Holding Company SA
• Plastipak Holdings Inc.
• Polindo Utama
• rPlanet Earth
• Starlinger & Co. GmbH
• The Coca-Cola Company
• UltrePET LLC
• Unifi Inc.
• Vanden Global Ltd.
• Wellman Plastics Recycling LLC
What are the Regional Insights into the Recycled Polyethylene Terephthalate Market?
Asia-Pacific as the largest region in the recycled polyethylene terephthalate market in 2024. Asia-Pacific is expected to be the fastest-growing region in the recycled polyethylene terephthalate market share during the forecast period. The regions covered in the recycled polyethylene terephthalate market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
