Global Recycled PET Market Size study, by Type (Flakes, Chips), by Grade (Grade A, Grade B), by Source (Bottles & Containers, Films & Sheets), by Application (Bottle, Fiber, Sheets, Strapping), by Color (Clear, Colored) and Regional Forecasts 2022-2032

The Global Recycled PET Market is valued at approximately USD 11.0 billion in 2023 and is anticipated to grow with a steady CAGR of 6.5% over the forecast period 2024-2032. Recycled PET, derived from post-consumer and post-industrial waste, has emerged as a pivotal component in the global push toward sustainability. This versatile material finds applications in various industries, including packaging, textiles, and strapping, driven by increasing awareness of environmental concerns and a rising demand for eco-friendly materials. The ability to repurpose PET waste into high-value products reduces environmental pollution and supports circular economy goals, making recycled PET a cornerstone of sustainable manufacturing.

The market's robust growth trajectory is supported by escalating global efforts to reduce plastic waste and promote the use of recycled materials. Governments and industry stakeholders are championing initiatives and policies to boost PET recycling rates. For instance, the rise in bottle-to-bottle recycling processes has enhanced the material's acceptance in food-grade applications. Moreover, the adoption of advanced recycling technologies, such as chemical recycling, enables the production of high-purity recycled PET, which further expands its application scope in industries like food and beverage packaging, automotive, and textiles. However, challenges related to collection infrastructure and contamination issues in the recycling stream could impede market growth over the forecast period.

Regionally, North America held a significant share of the recycled PET market in 2023, attributed to stringent environmental regulations and a strong emphasis on sustainability. Europe followed closely, supported by the European Union's directives on recycling and waste management. The Asia Pacific region, on the other hand, is poised to witness the fastest growth, driven by rapid industrialization, a burgeoning middle-class population, and increasing investments in recycling infrastructure. Countries like China and India are leading this growth, with policies encouraging recycling and circular economy practices. Latin America and the Middle East & Africa are also expected to contribute to market expansion, bolstered by growing awareness and investments in sustainable practices.

Major market players included in this report are:
• Indorama Ventures Public Company Limited
• Alpek S.A.B. de C.V.
• Plastipak Holdings, Inc.
• Far Eastern New Century Corporation
• Biffa plc
• Lotte Chemical Corporation
• Clear Path Recycling, LLC
• PolyQuest
• Phoenix Technologies International LLC
• Evergreen Plastics, Inc.
• UltrePET, LLC
• Reliance Industries Limited
• CarbonLite Industries LLC
• Verdeco Recycling, Inc.
• Veolia Environnement S.A.

The detailed segments and sub-segment of the market are explained below:

By Type
• Flakes
• Chips

By Grade
• Grade A
• Grade B

By Source
• Bottles & Containers
• Films & Sheets

By Application
• Bottle
• Fiber
• Sheets
• Strapping

By Color
• Clear
• Colored

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:
• Historical Year – 2022
• Base Year – 2023
• Forecast Period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level insights for major regions.
• Competitive landscape featuring information on major market players.
• Analysis of key business strategies and actionable recommendations for future market approaches.
• Examination of the competitive structure of the market.
• Demand-side and supply-side analysis of the market.



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