Recycled Polyethylene Terephthalate Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
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The Global Recycled Polyethylene Terephthalate (rPET) Market Size accounted for USD 9,124 Million in 2021 and is estimated to achieve a market size of USD 17,258 Million by 2030 growing at a CAGR of 7.6% from 2022 to 2030. The growing recycling processes, and a shift in consumer preferences toward sustainability, are major factors driving the recycled polyethylene terephthalate (rPET) market growth. Furthermore, increased demand for recycled polyethylene terephthalate from the f&b industry, as well as stringent landfill regulations, are expected to fuel the recycled polyethylene terephthalate (rPET) market value.
Recycled Polyethylene Terephthalate (rPET) Market Report Key Highlights
- Global recycled polyethylene terephthalate (rPET) market revenue is estimated to expand by USD 17,258 million by 2030, with a 7.6% CAGR from 2022 to 2030.
- Asia-Pacific recycled polyethylene terephthalate (rPET) market share accounted for over 39% of total market shares in 2021
- Europe recycled polyethylene terephthalate (rPET) market growth will observe highest CAGR from 2022 to 2030
- Based on product, clear segment accounted for over 74% of the overall market share in 2021
- Among end-uses, fiber segment engaged more than 41% of the total market share
- Changing consumer behavior toward sustainability, drives the recycled polyethylene terephthalate (rPET) market size
Recycled polyethylene terephthalate (rPET) is a transparent, tough, lightweight plastic that is 100% recyclable. PET plastic is completely recyclable, adaptable, and intended to be reused. This compound is a polymer made by mixing pure terephthalic acid with modified ethylene glycol. PET container and bottle fibers are regularly dissolved and produced into fiberfill or carpet fibers.
Global Recycled Polyethylene Terephthalate (rPET) Market Trends
Market Drivers
- Growing number of recycling facilities over the globe
- Changing consumer behavior toward sustainability
- Growing demand from the food and beverage sector for rPET
- Stringent rules and regs on waste disposal
Market Restraints
- Lack of an appropriate framework for managing plastic waste
- Emission of a carcinogenic compound
Market Opportunities
- Growing need for environmentally friendly packaging solutions
- Implementation of stringent regulation by governments
Recycled Polyethylene Terephthalate (rPET) Market Report Coverage
| Market | Recycled Polyethylene Terephthalate (rPET) Market |
| Recycled Polyethylene Terephthalate (rPET) Market Size 2021 | USD 9,124 Million |
| Recycled Polyethylene Terephthalate (rPET) Market Forecast 2030 | USD 17,258 Million |
| Recycled Polyethylene Terephthalate (rPET) Market CAGR During 2022 - 2030 | 7.6% |
| Recycled Polyethylene Terephthalate (rPET) Market Analysis Period | 2018 - 2030 |
| Recycled Polyethylene Terephthalate (rPET) Market Base Year | 2021 |
| Recycled Polyethylene Terephthalate (rPET) Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Product, By End-Use, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Libolon, Placon, Phoenix Technologies, Clear Path Recycling LLC, Evergreen Plastics, Inc., Verdeco Recycling, Inc., PolyQuest, M&G Chemicals, and Zhejiang Anshun Pettechs Fibre Co., Ltd. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
In the current era, clients have become more aware of environmental sustainability which has helped the development of the industry. Also, the ban on landfills launched in numerous emerging nations in North America and Europe is expected to drive the rPET market over the estimated period. Based on revenue, the industry in the U.S. signified a sizeable share of the overall revenue in 2021. It is expected to develop at a CAGR of 8.0% over the prediction period. The U.S. is not only the major industry of rPET in North America but also one of the largest markets internationally.
Apart from the occurrence of a limited numeral of recycling plants, the U.S. has managed to become one of the largest PET recycling nations internationally. The nation has around 31.0% PET bottle collection rate which is higher than the worldwide average as well as that of Canada. The industry in Canada is mainly determined by growing prices and the high import volume of colored and clear recycled polyethylene terephthalate products. Clear-type PET bottles were the furthermost recycled PET bottles in 2021. The Canadian recycled polyethylene terephthalate market has been observing a high development over the last five years owing to substantial investments in this industry.
Recycled Polyethylene Terephthalate (rPET) Market Segmentation
The worldwide recycled polyethylene terephthalate (rPET) market segmentation is based on the product, end-use, and geography.
Recycled Polyethylene Terephthalate (rPET) Market By Product
- Clear
- Colored
According to recycled polyethylene terephthalate (rPET) industry research, the clear segment leads the market and holds the largest share in 2021. The clear segment is likely to be driven by low energy requirements and the convenience of bottle-to-bottle recycling over the projected timeframe. The clear type is the most commonly used rPET due to its extensive use in food and non-food activities and the low manufacturing costs connected with it. To make containers and bottles, most manufacturers favor clear particles or flakes over opaque or colored PET. Furthermore, clear rPET solutions aid in the monitoring of unique products such as color change, fungus development, and chemical reaction caused by insufficient storage conditions.
Recycled Polyethylene Terephthalate (rPET) Market By End-Use
- Fiber
- Strapping
- Sheet and Film
- Non-Food Containers and Bottles
- Food & Beverage Containers and Bottles
- Others
According to the recycled polyethylene terephthalate (rPET) market forecast, the fiber segment is expected to grow significantly in the market over the coming years. The growth of the segment is being driven by the significant demand from the FMCG, automotive, consumer goods, apparel & accessories, telecommunication, textile, & home furnishings industries. Fiber is mostly utilized in the manufacture of cushions, beds, insulation items, and automobile seating.
Recycled Polyethylene Terephthalate (rPET) Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Asia-Pacific Holds The Largest Share Of The Global Recycled Polyethylene Terephthalate (rPET) Market
Asia-Pacific was the significant income contributor in 2021. It is composed to be the largest regional industry through 2030. Asia-Pacific is characterized by the obtainability of an important amount of skilled labor at low cost and easy accessibility of land. A drift in the production landscape towards developing economies, predominantly India and China, is expected to optimistically influence the development of the market over the estimated period. Growing bottle-to-bottle production and the thriving beverages industry in Asia-Pacific are projected to drive the recycled PET market over the prediction period. rPET packaging for food & beverages delivers environmental impact resistance and thermal insulation. The packaging also shows to be pocket friendly due to the low cost involved in its production. With the growing population in developing countries of Latin America and Asia-Pacific is possible to gear up the demand for recycled polyethylene terephthalate (rPET) bottles and containers.
Spiraling the need for food and non-food bottles across a large numeral of end-use businesses and improving financial conditions are the main factors fuelling the need for recycled polyethylene terephthalate (rPET) in Latin America. Growing per capita income, paired with the increasing FMCG market, is helping the industry flourish in the region.
Recycled Polyethylene Terephthalate (rPET) Market Players
Some of the top recycled polyethylene terephthalate (rPET) market companies offered in the professional report include Libolon, Placon, Phoenix Technologies, Clear Path Recycling LLC, Evergreen Plastics, Inc., Verdeco Recycling, Inc., PolyQuest, M&G Chemicals, and Zhejiang Anshun Pettechs Fibre Co., Ltd.