Latest industry analysis on the recycled polyethylene terephthalate market by Fact.MR forecasts global production of R-PET to reach 1,700 KT by 2021-end. Around 1.6% decline in market value was observed in 2020, which is estimated to return to 2019 levels soon, with demand for clear recycled PET rising rapidly through 2031.
By the end of 2031, the market is expected to have a value of more than US$ 4.2 billion, according to Fact.MR, a provider of market research and competitive intelligence. The circular economy business model’s adoption by manufacturers is primarily to blame for this growth, which in turn has increased demand for recycled PET. Recycled Polyethylene Terephthalate (R-PET) Industry Is Projected To See A Surge In Valuation Expanding 2.1x By 2031
As a result of the sharp increase in demand for recycled PETs, market participants have also made significant investments in capacity expansion. Significant players like Indorama Ventures, Carbonlite Industries, and ALPLA are heavily concentrating on increasing their production capacities in high-growth regions like Asia Pacific, North America, and Europe.
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Which Region is Set Provide Ample Opportunity to R–PET Suppliers?
R–PET suppliers have ample opportunity in the Asia–Pacific region, which is the world‘s largest producer and consumer of PET. China, India, Japan, South Korea, and Taiwan are some of the major markets for R–PET suppliers in this region.
Main Segments Covered in R-PET Industry Research
- By Source
- Post-Consumer PET
- Post-Industrial PET
- By Colour
- Clear R-PET
- Coloured R-PET
- By Product Type
- R-PET Flakes
- R-PET Resins
- R-PET Fibers
- By End Use
- Food & Beverages
- Pharma Products
- Personal Care Products
- Home Textiles
- Industrial Textiles
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Key Takeaways from Market Study
- Post-consumer PET, under source type, is projected to provide an absolute $ opportunity worth US$ 2.15 Bn during the forecast period.
- Based on colour, clear R-PETs is projected to rise at a higher CAGR of around 8.1% over the decade.
- On the basis of product type, consumption of flakes is anticipated to expand around 2.1X by 2031.
- East Asia is projected to capture around 32% global market share by 2031.
- South Asia & Oceania is slated to provide an absolute $ opportunity worth US$ 309.3 Mn by 2031-end.
“Recyclers and producers of R-PET should opt for a collaborative approach with key FMCG players to replace virgin plastic usage in the food & beverage segment,” says a Fact.MR analyst.
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Competition Landscape: Top R-PET Companies
Top manufacturers of clear recycled PET have mainly adopted a mix of organic and in-organic growth strategies such as capacity expansion, acquisitions, and collaborations. Companies are trying to expand their business in different regions, which would help them garner more segmental share.
- In May 2021, Clean Tech’s parent company Plastikpak announced an investment in one of its manufacturing site based in Toledo, Spain. The investment is aimed at expanding its R-PET production capacity in Europe.
- In June 2021, Indorama Ventures announced the acquisition of CarbonLite Holdings’ facility in Texas. Through this acquisition, the company aims at expanding its footprint in North America along with rapidly increasing its production capacity.
Similarly, recent developments related to companies offering R-PET have been tracked by the team at Fact.MR, which are available in the full report.
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