Recycled Polyethylene Terephthalate Market Research Report – Global Forecast till 2025
The Global Recycled Polyethylene Terephthalate (RPET) Market is expected to register 8.5% CAGR through the review period from 2018 to 2023 to surpass USD 10,666.2 Million from USD 6,572.9 Million in 2017. The rise in applications of RPET in the construction of roads and the formation of concrete, along with the rising demand for RPET nanofibers for filtration of water is expected to fuel the market growth during the forecast period.
The recycling rate of PET is expected to improve significantly in the years ahead. The global market growth is attributed to the existence of well-establishment recycling channels and organized solutions for energy recovery from plastic waste in the upcoming years. However, The lack of effective technologies and norm challenging recycling of PET is expected to hinder the global Recycled Polyethylene Terephthalate market expansion during the review period.
The Global Recycled Polyethylene Terephthalate (RPET) Market has been categorized into Type, Application, and Distribution Channel.
The clear type subsegment segment is expected to rise at 8.5% CAGR across the forecast tenure owing to the low processing cost-benefit of clear recycled polyethylene terephthalate.
The fibers application segment is likely to register a nearly 70% share of the global market. The market growth of the fibers segment is attributed to an increase in demand for clothing across different countries with dense populations, the increase in awareness about the affordability of recycled polyester fiber, and its increasing preference over conventional fiber.
The store-based segment of the distribution channel is expected to acquire a 70.6% share of the global market by 2023 with a market value of USD 1,075.9 Mn by 2023. However, the non-store-based segment is anticipated to hold a 29.4% share of the global market share by the end of 2023. The segment is anticipated to reach USD 451.5 Mn by 2023.
Geographically, the Global Recycled Polyethylene Terephthalate (RPET)has been studied across the Americas (US, Canada, Mexico, Rest-of-North America), Europe (Germany, UK, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World.
Asia Pacific recycled polyethylene terephthalate market is expected to drive the market owing to a 55% share of the worldwide market. The major markets of the regional market China, Indonesia, India, and Japan. The market growth is driven by rapid industrialization, population growth, and economic reforms. Additionally, the launch of dynamic government initiatives for the recycling of waste is another factor that can impact the market. Europe is expected to register as the second-largest market during the review period.
Key Companies Covered in the Global Recycled Polyethylene Terephthalate (RPET) Report include Placon (US), Clear Path Recycling (US), Verdeco Recycling Inc. (US), Indorama Ventures Public Company Limited (Thailand), Zhejiang Anshun, Pettechs Fiber Co., Ltd (China), Polyquest (US), Evergreen Plastics (US), Montello S.p.A. (Italy), Phoenix Technologies (US), M&G Chemicals (Luxembourg), and LIBOLON (Taiwan).
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