Recycled Polyethylene Terephthalate Market Regional Trends, Growth, Competitor Strategy, High Emerging Demands by Forecast to 2025

Market Overview:

The global recycled polyethylene terephthalate market is expected to exhibit a robust 8.5% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The recycled polyethylene terephthalate market is expected to rise to a valuation of more than USD 7 billion by 2025, according to the report.

Recycled polyethylene terephthalate is procured from PET bottles and containers and used in various end-use applications, including fiber for clothing, carpets, and upholstery, sheets and films, and food-grade and non-food-grade bottles for various commodities. The growing awareness about the importance of recycling plastic waste is likely to remain the major driver for the global recycled polyethylene terephthalate market over the forecast period. Plastic waste has emerged as the number one threat to biodiversity and ecosystems all over the world, due to the harm caused by the nonbiodegradable plastic waste. Plastic waste remains in the environment in the state it is discarded, without undergoing biodegradation like organic waste. This can result in major blockages in the environment, including choking of water bodies and poisoning of terrestrial and aquatic animals. Growing corporate and government support to recycling of plastic components is likely to be a major driver for the global recycled polyethylene terephthalate market over the forecast period.

The growing efforts from fashion retailers to produce and viably market clothes made from recycled PET are likely to remain a major driver for the global recycled polyethylene terephthalate market. The production of fibers is the major application for the recycled polyethylene terephthalate market, leading to an increasing number of clothing manufacturers utilizing recycled polyethylene terephthalate to produce clothes of various types. Polyethylene terephthalate offers enhanced water resistance in clothes, in addition to making the clothes more resistant to bending and stretching due to its plasticity. Carpets and other fiber fill applications such as in tenting equipment and sleeping bags are also a major application channel for recycled polyethylene terephthalate.

Competitive Analysis:

·         LIBOLON

·         M&G Chemicals

·         Phoenix Technologies

·         Montello S.p.A.

·         Evergreen Plastics

·         Polyquest

·         Zhejiang Anshun Pettechs Fiber Co. Ltd.

·         Indorama Ventures Public Company Limited

·         Verdeco Recycling Inc.

·         Clear Path Recycling, and Placon

In September 2019:

Coca-Cola Great Britain launched a new promotional campaign called “Round in Circles” in order to increase the public visibility of its 100% recyclable packaging initiative.

At the 2019 Label Industry Global Awards ceremony in Brussels, Avery Dennison was awarded the Environmental and Sustainability award for its recycled polyethylene terephthalate liner.

Uniqlo, a leading supplier of casual clothing, announced plans to produce clothes from used polyethylene terephthalate bottles in conjunction with Toray Industries Inc.

Segmentation:

The Global Recycled Polyethylene Terephthalate Market is segmented based on type, application, and region.

By type, the global recycled polyethylene terephthalate market is segmented into clear and colored. The clear segment holds the dominant share in the global recycled polyethylene terephthalate market and is expected to exhibit a strong 8.5% CAGR over the forecast period. The low processing costs of clear recycled polyethylene terephthalate are the major factor enabling dominance of the segment in the global market.

By application, the global recycled polyethylene terephthalate market is segmented into fibers, sheets and films, food-grade bottles and containers, non-food-grade bottles and containers, strapping, and others. The fibers segment held a dominant 70% share in the global recycled polyethylene terephthalate market in 2018 and is expected to remain the major revenue generator over the forecast period due to the growing demand for recycled polyethylene terephthalate in the manufacturing of clothing, carpets, and other fibrous fillers.

Regional Analysis:

Asia Pacific is the dominant regional market for polyethylene terephthalate recycling, with the region holding a majority share of 55% in the market in 2018. Increasing government initiatives to facilitate smooth recycling of polyethylene terephthalate are likely to remain a key factor in the recycled polyethylene terephthalate market’s growth in Asia Pacific over the forecast period.

Europe holds the second largest share in the global recycled polyethylene terephthalate market, followed by North America.

Get Complete Research Report on “Recycled Polyethylene Terephthalate Market  Research Report- Forecast till 2025” at: https://www.marketresearchfuture.com/reports/recycled-polyethylene-terephthalate-market-5812