Recycled PET Flakes Market to be Dominated by Textile Sector through 2028
Growing demand from Textile sector is expected to
drive Global Recycled PET Flakes market in the forecast period 2024-2028.
According to TechSci Research
report, “Recycled PET Flakes
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028”, Global Recycled PET Flakes market is anticipated to
upsurge at an impressive rate in the forecast period 2024-2028. A significant factor fueling the growth of the Global Recycled
PET Flakes market is the increasing use of recycled
PET flakes in the textile sector. Recycled PET
Flakes are used in fibers to produce jackets and t-shirts. In addition, they
are also used in the manufacturing of sofa & chair covers, automobile seat
covers, and carpets as well as increasing demand for the electric vehicles
anticipated augmenting requirement for lightweight and durable plastic
components to enhance their efficiency. Moreover, low production cost of
apparel developed from recycled PET flakes, further fuels the growth of Global Recycled PET Flakes market.
For instance, PepsiCo aims to recycle 75% of their packaging waste by 2025 and Evian aims to recycle 100% of their plastics by 2030, respectively.
Furthermore, the market is
being further stimulated by the extensive use of recycled PET flakes in the
film & sheet and food & beverages sectors.
However, fluctuation in raw
material prices can slow down the market growth. Additionally, lack of an
appropriate structure for plastic waste management can further slow-down the
market growth.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "Global Recycled PET Flakes Market"
Global Recycled
PET Market is segmented based on product, end use, and region.
Based on product, the market is bifurcated
into clear & colored. Clear segment is expected to hold
the largest market share in the forecast period, 2024-2028, as clear recycled
PET flakes are lightweight, have high durability and are non-reactive in nature.
Based on end use, the market is fragmented into fiber, sheet & film, food
& beverage bottles & containers, and others. Fiber segment is expected
to hold the largest market share in the forecast period, 2024-2028. This can be
attributed to the growing demand from consumer goods, automobiles, clothing
accessories, and textile industries.
Major companies operating in the global recycled polyethylene terephthalate market are:
- Polyvim
LLC
- Gravita
India Ltd.
- JB
Ecotex Limited
- Plastipak
Industries Inc.
- Clear
Path Recycling LLC.
- Indorama
Ventures Public Company Limited.
- Verdeco
Recycling Inc.
- Loop
Industries, Inc.
- PolyQuest,
Inc.
- EvergreenTogether
Download Free Sample Report
Customers
can also request for 10% free customization on this report.
“Asia
Pacific region is expected to grow at the highest rate during the forecast
period due to due to the rising need for bottles intended for use in a variety
of businesses, both food and non-food, as well as the expanding economies in
the region. Additionally, increasing foreign investments in the region due to
availability of low-cost labor, and easy availability of raw materials are
factors expected to create lucrative opportunities for market growth.
Furthermore, in Europe, escalating demand of materials for use in food contact
and strict recycling regulations in nations are creating huge prospects of
market growth during the forecast period,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Recycled PET Flakes Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028F, Segmented By Product (Clear, Colored),
By End Use (Fiber, Sheet & Film, Food & Beverage Bottles &
Containers, and Others), By Region, and Competition,
has evaluated the future growth potential of Global Recycled PET Flakes Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Recycled PET Flakes Market.”
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Web: https://www.techsciresearch.com