Recycled Polyethylene Terephthalate (RPET) is widely used plastic in the packaging industry due to a reduction in greenhouse emissions, sustainability, and low cost. RPET bottles can be of two types, crystal, and color. Clear RPET is being increasingly used in the beverages and water bottle packaging due to improved product performance. Colored RPET usage is rising in food and non-food containers due to structural strength which will improve the product shelf life. The product finds application in fiber, food and non-food products, sheet & film, and strapping. Among these, RPET is majorly used for producing fiber due to less energy consumption and reduced carbon emission. The fiber produced from RPET is widely used in textile industry due to fiber strength and durability. Increasing film and sheets usage in the packaging industry is escalating the product demand. Furthermore, it is increasingly used for packaged food and non-food products due to its light weight and environmental efficiency.
Some of the key players in the Global Recycled Polyethylene Terephthalate Market are Placon (U.S.), Clear Path Recycling (U.S.), Verdeco Recycling Inc. (U.S), Indorama Ventures Public Company Limited (Thailand), M & G Chemicals (Luxembourg), Zhejiang Anshun Pettechs Fiber Co., Ltd (China), PolyQuest (U.S.), Evergreen Plastics (U.S.), Phoenix Technologies (U.S.), Montello SPA (Italy), and LIBOLON (Taiwan).
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The Global Recycled Polyethylene Terephthalate Market is segmented into Product, Application and Region.
On the basis of Application, the market is divided into clear, colored.
Based on the Application the global market is segregated into fiber, food & non-food bottles, sheet & film, strapping, and others.
Geographically, the market is divided into five key regions, including Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
The Asia Pacific is the major market for Recycled Polyethylene Terephthalate as a result of growing industrial base in the developing economies such as India and China. Rising textile and apparel industry coupled with the presence of a large number of organized retail stores and increasing disposable income of the consumers is propelling the market growth.
North America is expected to grow substantially over the forecast period due to supportive actions were taken by the companies and government to promote the usage of recyclable plastic. Growing construction and packaging industries are stimulating the product demand in this region.
Europe is anticipated to drive the RPET Market owing to the mature packaging industry characterized by innovation and R&D taken up by industry participants and government organizations. Rising demand for upholstery and apparel products coupled with improving living standard of the consumers are boosting the product demand.
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