The global Recycled Plastic Polyethylene Terephthalate Market is projected to witness significant growth in the coming years due to the increasing demand for biodiesel as a renewable source of energy. Recycled Plastic Polyethylene Terephthalate is used as a catalyst in the production of biodiesel and its demand is expected to rise as more countries implement regulations and initiatives to reduce carbon emissions. The Asia Pacific region is expected to dominate the market, driven by the growing chemical and pharmaceutical industries in countries like China and India. The market is also expected to see growth in North America and Europe due to the rising demand for biodiesel and other renewable fuels.
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Top Leading Players in The Global Recycled Plastic Polyethylene Terephthalate Market Are:
Verdeco Recycling, Evergreen – A Greenbridge Company, PolyQuest, Inc., Phoenix Technologies International, LLC, Placon, Indorama Ventures Public Company Limited, Loop Industries, Inc., Biffa, LIBOLON, and Plastipak Holdings, Inc.
Some Key Highlights from the Report:
- The global Recycled Plastic Polyethylene terephthalate market is divided into flakes, chips, and others. Because of the increased acceptance of recycled PET flakes for the manufacturing of food-grade packaging, film reels, automobile seats and coverings, conveyor belts, and fibre, the flakes category is predicted to account for the biggest revenue share throughout the forecast period. These flakes are also commonly utilised in industry for a range of activities, including the production of new PET bottles, the preparation of resin, and the manufacture of toothbrush bristles. Furthermore, due to the rising trend of environmental sustainability, the bulk of recycled PET flakes generated are utilised for staple fibre applications in the textile sector.
- According to geographical study, the Asia Pacific market accounted for the greatest revenue share due to major FB firms' sustainable packaging ambitions, which are boosting expenditures in recycling infrastructure in this region's nations, particularly China, Japan, South Korea, and India. China's PET sheet production lines have expanded dramatically in the previous two years. Feedstock costs for sheet factories grow as the prices of PET fibre and PET bottle chips rise, and recycled PET flakes become a suitable cost-cutting option.
- Phoenix Technologies International LLC. announced on September 1, 2022, that it will enhance the quantity of food-grade Recycled Plastic Polyethylene terephthalate (rPET) it can manufacture by acquiring new extrusion technology to generate pellets at its Bowling Green factory. After Phoenix's expansion is completed by mid-2023, the business hopes to increase its rPET resin manufacturing capacity to 140 million pounds per year, which translates to processing 5 billion bottles per year.
Segments covered in the report:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Flakes
- Chips
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Bottles
- Sheet
- Fiber
- Strapping
- Others
Source Outlook (Revenue, USD Billion; 2019-2030)
- Bottles Containers
- Films Sheets
- Others
Processing Methods Outlook (Revenue, USD Billion; 2019-2030)
- Curbside Recycling
- Recycling Drives
- Recycling Banks
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Recycled Plastic Polyethylene Terephthalate Market Upcoming Growth:
The Recycled Plastic Polyethylene terephthalate (rPET) market is expected to experience significant growth in the coming years, primarily due to growing environmental concerns and increased demand for sustainable packaging solutions. rPET is a type of plastic that is made from recycled PET bottles and other plastic waste. The growing awareness among consumers about the environmental impact of plastic waste and the increasing adoption of sustainable packaging solutions are driving market growth. Additionally, the increasing adoption of rPET in the production of fibers, films, and sheets is further fueling market growth. The Asia Pacific region is projected to hold the largest market share, owing to the increasing demand from various end-use industries in countries like China, India, and Japan. With the growing focus on sustainability and the increasing demand for sustainable packaging solutions, the rPET market is poised for substantial growth in the coming years.
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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