Recycled Polyethylene Terephthalate Market to be Dominated by Food Grade Plastic through 2028
Rising demand from various end-user industries is
expected to drive the Recycled Polyethylene Terephthalate (RPET) market in the
forecast period 2024-2028
According to TechSci Research report, “Recycled Polyethylene Terephthalate Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, global recycled polyethylene
terephthalate market is anticipated to upsurge at an impressive rate in the
forecast period 2024-2028. This can be ascribed to the imposition of ban on
landfilling in various European countries such as Austria, Germany, the
Netherlands, France, Denmark, Belgium, among. Additionally, restrictions on
landfilling are imposed across various states in United States and provinces in
Canada.
Besides, growing demand
for electric vehicles across various countries is expected to increase the need
for lightweight and durable plastic components in order to enhance vehicle
efficiency, thereby creating lucrative opportunities for the growth of global
recycled polyethylene terephthalate market. Additionally, recycled polyethylene
terephthalate is used in the manufacturing of automobile seat covers, sofa and
chair covers, carpets, among others.
However, high costs of
recycled polyethylene terephthalate as compared to virgin PET can slow down the
market growth. Also, lack of organized framework for plastic waste collection
and 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 Polyethylene Terephthalate Market"
Global Recycled Polyethylene
Terephthalate Market is segmented based on type, source, end use, and region.
Based on type, the market is
bifurcated into flakes, and chips. Flakes is expected to hold
the largest market share in the forecast period, 2024-2028. This can be
attributed to the widespread use of recycled PET flakes in staple fiber
applications in the textile industry.
Based
on source, the market is categorized into bottles & containers, films & sheets, and others. The bottles & containers segment is
expected to grow at the highest rate during the forecast period. This can be
ascribed to the growing demand from packaging and food & beverage industries.
Based
on end use, the market is fragmented into strapping, fibers, food & beverage containers
and bottles, non-food containers and bottles, and others. The fibers segment is expected to hold
the largest market share during the forecast period. This can be attributed to
the growing demand from consumer goods, automobiles, clothing and accessories,
textile, industries.
Major companies operating
in the global recycled polyethylene terephthalate market are:
- Placon Corp
- Keenpro Industry Corp.
- Plastipak Industries
Inc.
- Clear Path Recycling
LLC.
- Indorama Ventures
Public Company Limited.
- Verdeco Recycling Inc.
- Loop Industries, Inc.
- PolyQuest, Inc.
- EvergreenTogether
- Alpek SAB de CV
Various
companies operating in the market are following strategies such as mergers
& acquisitions, partnerships & collaborations, and product launches in
order to stay competitive and have an edge over existing players. For instance,
in May 2022, Danone, and Amcor Rigid Packaging (ARP), together introduced a
100% recyclable PET bottle for the Villavicencio water brand of Danone in
Argentina. This 1.5 liters 100% RPET bottle offers 21% less carbon footprint
than virgin PET. Similarly,
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 on
account of growing PET recycling in Southeast Asian countries. Additionally,
increasing foreign investments in the region due to availability of low-cost
labor, and easy availability of raw materials is expected to create lucrative
opportunities for the market growth through 2028. Additionally, countries such
as Australia has legislated the introduction of a range of bans on landfilling
and shifting towards recycling approaches, thereby 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
Polyethylene Terephthalate (RPET) Market- Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By
Type (Flakes, Chips), By Source (Bottle & Containers, Films
& Sheet, Other), By End Use (Strapping, Food & Beverage Containers and
Bottles, Non-Food Containers and Bottles, Others), By Region, and Competition,
has evaluated the future growth potential of global recycled polyethylene terephthalate
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 polyethylene
terephthalate market.”
Contact
Mr. Ken Mathews
708 Third
Avenue,
Manhattan, NY,
New York –
10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com