The recycled polyethylene terephthalate market size accounted at US$ 7.71 bn in 2019 and to reach at US$ 13.45 bn by 2027 with a CAGR of 7.31% from 2020 to 2027.

The growth of global recycled polyethylene terephthalate market is mainly attributed to growing consumer awareness regarding environment and rising demand for sustainable alternatives. Furthermore, various companies from food and beverage industry such as Coca-Cola planned to move from virgin PET bottles with recycled polyethylene terephthalate by 2025 in Western European region. On the other hand, emission of carcinogenic compounds is expected hamper the growth of global recycled polyethylene terephthalate market in near future. Even so, rising demand for recycled polyethylene terephthalate from non-food sector is predicted to open massive opportunities for market players in years to come.

Segment Insights

Product Type Insights

Based on product type, the global recycled polyethylene terephthalate market is segmented into clear and colored. Clear recycled PET held the largest share in product type segment of the global recycled polyethylene terephthalate market in 2019 and is also expected hold its place in forecast period. The growth of this segment is mainly attributed to rising demand for production of fibers and resins paired with rising demand for bottles. Furthermore, clear recycled polyethylene terephthalate containers possess the characteristics like flexibility, lightweight and durability. Colored recycled PET segment is predicted to account noticeable share in coming years.

End Use Insights

Fiber, sheet and film, strapping, food & beverage containers and bottles, non-food containers and bottles and others are the end user segment of global recycled polyethylene terephthalate market. In 2019, fiber end usersegment accounted over 56% in terms of sale volume, the growth of fiber end user segment is primarily driven by growing demand from clothing and accessories automobiles and textile. Rising demand of recycled polyethylene terephthalate in non-food sector is also predicted to shape the global recycled polyethylene terephthalate market in coming years. Food and beverage containers and bottles segment is predicted to show growth at a CAGR of 7.9% during forecast period.

Regional Insights

Asia Pacific held the majority share of global recycled polyethylene terephthalate market in 2019 and accounted over 49% of revenue share. This trend is estimated to continue as brand owners initiate the growth in usage of recycled materials in their products. The growth of Asia Pacific recycled polyethylene terephthalate market is mainly attributed by shift in production facilities of various end uses towards countries particularly in China, India and Indonesia. Japan’s rate of PET bottle recycling is among the highest in the world which is about 85%. With the commitment of brand owners to increase the amount of recycled materials in their packaging, PET recyclers have to catch-up to meet the growing demand. Furthermore, rising concerns regarding sustainability of natural resources in developing economies of North America and Europe are likely to escalate the product demand over the forecast period.Latin America is also predicted to show noticeable growth in global recycled polyethylene terephthalate market owing to rising demand from non-food containers and bottles.

Key Companies & Market Share Insights

The global recycled polyethylene terephthalate market is highly competitive and fragmented with number of small regional players. The market players operating in recycled polyethylene terephthalate market are working to retain the quality of these products and acquiring the new client across different industries. Ongoing product research and development by manufacturers is expected to open numerous opportunities in global recycled polyethylene terephthalate market. Some of the recent activities by market players are:-

• June 2020: Diageo North America has announced that, American Seagram 7 Crown a well-known brand blended American whiskey of bottles will be made from 100% recycled plastic (rPET).
• Feb 2020: Audi announced that the latest version of A3 will get new and more sustainable interior choices. The new seat material is made from recycled PET bottles and Audi joins growing drive of automakers to work to reduce the environmental impact of cars.
• December 2019: Belu announced a shift to 100% of the RPET bottles. By moving to the production of 100% recycled PET plastic, Belu estimated that, it will generate approximately 60% less carbon emissions than a comparable virgin bottle and approximately half that of a typical aluminum can (which they argue contains 70-73 per cent recycled content)
• July 2019: Nestlé's Belgian brand of mineral water, Valvert, has launched a bottle made entirely of recycled PET (rPET). The game of changing new bottles is a significant step in Nestlé's quest to make 100% of its packaging recyclable or reusable by 2025.
• June 2019: As a part of sustainable packaging strategy, Coca-Cola Great Britain, in partnership with Coca-Cola European Partners, announced that GLACÉAU Smartwater bottles will be made from 100% recycled polyethylene terephthalate market by the end of 2019 and stated that it will double the amount of rPET used in others plastic bottles in early of 2020.

Some of the noteworthy players in the recycled polyethylene terephthalate market include:

• Placon
• Ergis Recycling
• Phoenix Technologies
• Libolon
• M&G Chemicals
• BariQ
• Zhejiang AnshunPettechsFibre Co. Ltd.
• PolyQuest
• Clear Path Recycling LLC
• Verdeco Recycling, Inc.
• Sorema
• Evergreen Plastics, Inc.

Segments Covered in the Report

This research report estimates revenue growth at global, regional, and country levels and offers an analysis of present industry trends in every sub-segment from 2016 to 2027. This research study analyzes market thoroughly by classifying market report on the basis of multiple factors including type, end use and region:

 By Product Type

• Clear
• Colored

By End Use Type

• Food & Beverage Containers and Bottles
• Fiber
• Sheet and Film
• Strapping
• Non-Food Containers and Bottles
• Others

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World