PUBLISHER: Market Glass, Inc. (Formerly Global Industry Analysts, Inc.) | PRODUCT CODE: 1594983
PUBLISHER: Market Glass, Inc. (Formerly Global Industry Analysts, Inc.) | PRODUCT CODE: 1594983
Recycled Polyethylene Terephthalate (PET)
Global Recycled Polyethylene Terephthalate (PET) Market to Reach US$18.8 Billion by 2030
The global market for Recycled Polyethylene Terephthalate (PET) estimated at US$12.6 Billion in the year 2023, is expected to reach US$18.8 Billion by 2030, growing at a CAGR of 5.9% over the analysis period 2023-2030. Clear PET, one of the segments analyzed in the report, is expected to record a 5.5% CAGR and reach US$13.9 Billion by the end of the analysis period. Growth in the Colored PET segment is estimated at 7.2% CAGR over the analysis period.
The U.S. Market is Estimated at US$3.4 Billion While China is Forecast to Grow at 5.6% CAGR
The Recycled Polyethylene Terephthalate (PET) market in the U.S. is estimated at US$3.4 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$3.0 Billion by the year 2030 trailing a CAGR of 5.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.5% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.0% CAGR.
Global Recycled Polyethylene Terephthalate (rPET) Market - Key Trends & Drivers Summarized
What Is Recycled PET (rPET), and Why Is It Crucial for Sustainable Packaging?
Recycled Polyethylene Terephthalate (rPET) is a material created by processing used PET plastic products—primarily plastic bottles and containers—into new, reusable forms. PET, a widely used plastic due to its strength, flexibility, and clarity, is commonly found in beverage bottles, food packaging, and textile fibers. Through recycling, PET waste is collected, cleaned, shredded, and melted down to form rPET, which can then be used to manufacture new plastic products or blended with virgin PET to maintain quality standards. This recycling process helps reduce the amount of plastic waste in landfills and oceans, decrease dependency on fossil fuels, and significantly lower greenhouse gas emissions.
The importance of rPET lies in its contribution to the circular economy by transforming waste into valuable materials. rPET has become especially crucial in the packaging industry, where consumer demand for sustainable products has spurred manufacturers to reduce their reliance on single-use plastics. With governments and organizations worldwide implementing stricter regulations on plastic waste, many companies are transitioning to rPET to meet sustainability goals and appeal to environmentally conscious consumers. The use of rPET supports a closed-loop system, where materials are continuously reused, thus helping to conserve natural resources and reduce the environmental impact of plastic waste.
How Is rPET Produced and What Are Its Applications?
The production of rPET involves several stages: collection, sorting, washing, shredding, and reprocessing. Post-consumer PET bottles and containers are collected from recycling facilities, where they undergo sorting to separate PET from other plastics and contaminants. The sorted PET is then thoroughly washed to remove any impurities before being shredded into small flakes. These flakes are either melted down to create rPET pellets or further processed to meet the high-quality standards required for food-grade applications. In recent years, advances in recycling technology, such as chemical recycling, have allowed for even higher purity levels of rPET, enabling its use in a broader range of applications.
rPET is widely used in packaging, textiles, and consumer goods. In packaging, rPET is utilized for manufacturing new bottles, food containers, and other packaging materials, significantly reducing the need for virgin plastic. Companies in the food and beverage industry are increasingly using rPET in water and soda bottles, meeting consumer demand for environmentally friendly packaging solutions. Textiles represent another major application, with rPET fibers commonly used in clothing, upholstery, and carpeting. Leading brands in fashion and sportswear are incorporating rPET into their products to reduce their environmental footprint. Additionally, rPET is used in consumer goods such as electronics, automotive parts, and home furnishings, providing manufacturers with a durable and sustainable material alternative. The versatility of rPET, combined with its sustainable profile, has positioned it as a valuable resource across industries aiming to integrate environmentally responsible practices into their operations.
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Recycled Polyethylene Terephthalate (PET) - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
III. MARKET ANALYSIS
IV. COMPETITION
