Recycled Polyethylene Terephthalate Market 2019 Current Industry Trends, Sales,

Posted by Market Research Future on September 11th, 2019

Market Overview:

Market Research Future (MRFR)’s latest study reveals that the global recycled polyethylene terephthalate (RPET)market is poised to register a CAGR of 8.5% during the forecast period 2018 to 2023. In terms of revenue, the market is projected to grow from USD 6,572.9 Mn in 2017 to USD 10,666.2 Mn by 2023-end. The growth of the market is highly dependent on the polyethylene terephthalate (PET) market. The recycling rate of PET is expected to improve over the next couple of years, thus, augmenting the recycled polyethylene terephthalate market. In terms of volume, the global recycled polyethylene terephthalate market is prognosticated to reach over 11 KT by the end of 2023 up from 7,684.3 KT in 2017. However, 20-22% loss is incurred during the manufacturing process which remains an impediment to the market expansion.

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The demand for RPET fiber in the textile industry is anticipated to witness an upsurge as it shows no qualitative degradation after several recycling sessions. The growth of the textile industry is poised to boost the expansion of recycled polyethylene terephthalate market through the review period. Additionally, the extensive use of RPET in the food & beverage sector for packaging has intensified the market proliferation. Increase in working population, and disposable income has led to a shift towards ready-to-eat and packaged food products which is driving the demand for RPET.

The inclination towards plastic roads has paved the way for revenue acceleration for market participants. Plastic roads offer durability and take lesser time to build. This, in turn, is expected to fuel demand for RPET in the foreseeable future. Furthermore, the scarcity of drinking water has created an intense need for water treatment. It is likely to catalyze demand for nanofibers, which is expected to fuel demand for RPET.

Global Market for Recycled Polyethylene Terephthalate-Segmental Analysis:

MRFR’s report offers a detailed segmental analysis of the market based on type and application. By type, the market has been segmented into clear and colored. Among these, the clear segment holds a major share of the market as the colored RPET has to undergo a process that degrades its quality. The clear segment was valued at USD 4,203.6 Mn in 2017 and is expected to reach a value over USD 6 Mn by the end of 2023. The increasing demand from the packaging industry is likely to drive the growth of the clear segment in the forthcoming years.

By application, the market is based on fiber, sheet & film, strapping, food grade bottles & containers, non-food grade bottles & containers, and others. The fiber segment accounts for the maximum share of the market and is expected to exhibit healthy growth over the next few years. Its growth can be ascribed to the extensive use of polyester fiber in textile manufacturing.

Global Market for Recycled Polyethylene Terephthalate-Competitive Dashboard:

v  Placon

v  Clear Path Recycling

v  Verdeco Recycling Inc.

v  Indorama Ventures Public Company Limited

v  Zhejiang Anshun Pettechs Fiber Co., Ltd

v  PolyQuest

v  Evergreen Plastics

v  Montello S.p.A.

v  Phoenix Technologies

v  M&G Chemicals

v  LIBOLON

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