The global Recycled Polyethylene Terephthalate (PET) Market is expected to foresee an explosive growth by the year 2028. “Recycled Polyethylene Terephthalate (PET) has found its application packaging of food & beverage, pharmaceuticals, cosmetics, and electronics attributed to its versatile properties of resisting infestation of bacteria and fungi.”
Financial assistance in the form of granted subsidies and tax exemptions across the countries of India, China, Japan, and Korea is enormously surging the market proliferation. Recycled polyethylene terephthalate market has curbed usual trends of virgin resin amid green initiatives, which is driving its growing demand. Also, the latest developments in manufacturing fabric materials and clothing using recycled polyethylene terephthalate (PET) is positively demonstrated a paradigm shift over the conventional technologies to boost the industry growth over a future course.
The market presents a detailed depiction of the end-use segment which comprises fiber, strapping, sheet and film, food & beverage containers & bottle, pharmaceuticals, non-food containers & bottle, and others. Based on product, the recycled polyethylene terephthalate (PET) industry has been classified into clear and colored types.
The comprehensive overview of the recycled polyethylene terephthalate (PET) market has identified North America, Latin America, the Middle East & Africa, Europe and the Asia Pacific as the key regions. The government has undertaken several monitory checks to meet the wastewater regulatory limits by recycled polyester makers. Increasing incidences of R-PET flaking during the winter period in Europe has registered lower demand and diminished sales volume throughout these months. The expanding consumer goods sector and the rising disposable income in developing countries of Asia Pacific has accounted for this region as the fastest growing in the forthcoming years.
The competitive landscape showcases the profiles and business strategies of the major players, along with their recent developments. Some of the dominant players operating in this market include Libolon, Zhejiang Anshun Pettechs Fibre Co. Ltd, Ecostar Plastics (Placon), Polyquest, Zhejiang Anshun Pettechs Fibre Co. Ltd, and Haiyan Haili Green Fiber Co., Ltd among others.
The altering market dynamics can be attributed to major merger and acquisition activities, collaborations and joint ventures amongst the industry competitors. The emerging companies have identified raw material suppliers, buyers, research investors and distributors of the recycled polyethylene terephthalate market.
Standardization initiatives, such as those championed by the Consortium for Automotive Recycling (CARE) and Waste and Resources Action Programme (WRAP) in the United Kingdom has broadly encouraged the purchase of recycled products and has gained confidence in waste management. Increasing charges for landfill or waste disposal and the deposit-fund systems in Germany has revolutionized several other types of plastic packaging waste disposal regulations and has illustrated an introduction of recycled polyethylene terephthalate (PET) packaging onto retailer’s shelves.
Leading players of Recycled Polyethylene Terephthalate (PET) including:
• Clear Path Recycling
• Verdeco Recycling
• Indorama Ventures Public
• M.G. Chemicals
• Evergreen Plastics
• Zhejiang Anshun Pettechs Fiber Co. Ltd
• Haiyan Haili Green Fiber Co., Ltd
Market split by Type, can be divided into:
Market split by Application, can be divided into:
• Sheet and film
• Containers & Bottle
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA