Global Recycled Polyester (rPET) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Recycled Polyester (rPET) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Recycled Polyester (rPET) market finds that the global Recycled Polyester (rPET) market reached a value of USD 14116.68 million in 2022. It’s expected that the market will achieve USD 21095.92 million by 2028, exhibiting a CAGR of 6.92% during the forecast period.

Supply chain impact

The global outbreak of COVID-19 has had an impact on the rPET Fiber industry. First, countries and regions have implemented various levels of lock-in measures against COVID-19, and some rPET fiber factories have reduced their production capacity or closed their factories. Due to the lockdown measures, some recycling agencies have also been temporarily closed, and the rPET raw materials supply chain has been hit, which may affect the production and delivery cycle of rPET. In addition, logistics transportation, especially cross-border transportation, is subject to strict inspections, and the logistics cycle may be long. COVID-19 has affected the entire rPET fiber industry in the short term, but as COVID-19 is gradually brought under control, the supply chain and industry chain will gradually recover, and in the long run, the rPET fiber industry will also recover.

Impact on consumers

After COVID-19 has had an impact on the economy, it has also affected the shopping habits of some consumers. Due to the economic downturn, consumers are turning to personal protective equipment such as masks and disinfectants. The demand for apparel has declined, which will lead to a decline in the demand for rPET fibers. COVID-19 will also affect many industries, such as automobiles, which will lead to a decline in the demand for rPET as automotive interiors or other industrial uses. In addition, COVID-19 has also affected the behavior of certain consumers. Although consumers can buy bottled water or packaged food for hoarding, how to recycle these things has become a problem. Taking into account the impact of social distancing and self-isolation during the recycling process, consumers may have reduced their demand for recycling and using rPET products.

Strength

Resource saving and environmentally friendly
Recycled polyester (rPET) fiber is a fiber remade from recycled PET material. As people's awareness of environmental protection has gradually strengthened, consumers have become more and more inclined to environmentally friendly products. The change in consumption habits shows that consumers have a broader understanding and greater sense of responsibility for environmental damage. Traditional PET fiber is derived from petroleum, which is a non-renewable resource. Recycled polyester (rPET) fiber, as a recycled material, has the same performance as virgin fiber, and some properties are even higher than that of virgin fiber, which makes rPET fiber can replace PET fiber in many applications. The recycling of rPET fibers can reduce oil consumption, effectively reduce waste, save energy consumption and reduce carbon dioxide emissions. Recycling plastics also helps decrease the amount of plastic waste that enters landfills. RPET is incredibly easy to recycle. PET bottles are easy to distinguish by their #1 recycling label and is accepted by most recycling plans. Reusing plastic not only provides a better option than landfills, but it helps give it a second life.

Weakness

Recycled polyester releases micro plastics
rPET fabrics contain tiny fibers that can cause a big problem. Every time synthetic fabric is washed, hundreds of thousands of these small plastic particles are released into the water. These eventually make their way into places like lakes, rivers, and the ocean. Once in these environments, these micro plastics not only pollute the water, but also harm the animals that live in it. When these animals ingest micro plastics, the particles can get tangled up in their digestive tracts and disrupt the normal function of their bodies. When people eat animals that live in these waters, they end up ingesting plastic as well, harming their own bodies.

Region Overview:

Asia Pacific dominated the Recycled Polyester (rPET) market in 2022, with a market share of 64.71%.

Company Overview

Jiangnan Chemical Fiber, Ningbo Dafa Chemical Fiber, Tianfulong, Guangdong Qiusheng Resources and Unifi are the five key players in the global Recycled Polyester (rPET) market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Recycled Polyester (rPET) market in the past 5 years.

Jiangnan Chemical Fiber

Jiangnan Chemical Fiber manufactures and distributes chemical fibers. The Company produces polyester staple fibers, colored short fibers, composite fibers, polyester chips, and other products.

Ningbo Dafa Chemical Fiber

Ningbo Dafa Chemical Fiber manufactures and distributes polyester staple fibers. The Company develops, produces, processes, and sells polyester staple fibers and other related products.

Segmentation Overview:

As for product types, the Cotton Spinning Material segment held the largest market share in 2022.

Cotton Spinning Material

Synthetic fibers may also be processed by cotton spinning, both mixed with natural fibers and alone, which makes it possible to widen the assortment of cotton fabrics available and improve their appearance and quality.

Filling Material

Filling material means any material used to fill or fill upholstered parts of furniture or stuffing items.

Non-woven

Non-woven fabric is a fabric-like material made from staple fiber (short) and long fibers (continuous long), bonded together by chemical, mechanical, heat or solvent treatment

Application Overview:

The market's largest segment by application is the segment Home Textiles, with a market share of 29.56% in 2022.

Apparel

Apparel are items worn on the body. Typically, clothing is made of fabrics or textiles, but over time it has included garments made from animal skin and other thin sheets of materials and natural products found in the environment, put together.

Home Textiles

Home textiles are cloths and fabrics used as part of home furnishings. They make people's lives more comfortable and give a definite aesthetic character to interior design.

Automotive Interior

Automotive interior refers to the visible components inside a car. Seat coverings, headrests, armrests, door panels, center console, floor mats and instrument panels are made from automotive interior materials.

Construction Materials

Construction material is material used for Building. Many naturally occurring substances, such as clay, rocks, have been used to construct buildings. Apart from naturally occurring materials, many man-made products are in use.

Hygiene & Healthcare

Applications of rPET in healthcare and hygiene include a variety of products - such as personal hygiene products, surgical and hospital cloths and suits.

Key Companies in the global Recycled Polyester (rPET) market covered in Chapter 3:

Fujian Mr Fiber Joint
Fujian Baichuan Resources
Jiangnan Chemical Fiber
Guangdong Qiusheng Resources
Aquafil
Martex Fiber
Zhejiang Jiaren New Materials
Tianfulong
Ningbo Dafa Chemical Fiber
Yangzhou Rongcheng Chemical Fiber
Unifi
Zhongxing Environmental
Zhejiang Haili Envieromental
Indorama Ventures
Longfu Recycling Energy Scientech
Cixi Xingke Chemical Fiber
JB Ecotex
PT Inocycle Technology
Elite Color Environmental

In Chapter 4 and Chapter 14.2, on the basis of types, the Recycled Polyester (rPET) market from 2018 to 2029 is primarily split into:

Cotton Spinning Material
Filling Material
Non-woven

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Recycled Polyester (rPET) market from 2018 to 2029 covers:

Apparel
Home Textiles
Automotive Interior
Construction Materials
Hygiene & Healthcare
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)