Recycled PET (rPET) Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the Global Recycled PET (rPET) Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers a detailed understanding of the market landscape, helping stakeholders make well-informed decisions.

Key Insights:

Global Recycled PET (rPET) Market Size (2024E): US$ 12.1 Bn
Projected Market Value (2031F): US$ 21.9 Bn
Market Growth Rate (CAGR 2024 to 2031): 8.9%

Recycled PET (rPET) Market - Report Scope:

The global rPET market pertains to the production and use of recycled polyethylene terephthalate (PET) plastic, which is increasingly being utilized in the manufacturing of bottles, packaging materials, textiles, and various other products. rPET is considered a sustainable alternative to virgin PET due to its lower environmental impact. The demand for rPET is growing globally, driven by increasing awareness about environmental sustainability, government regulations favoring recycling, and the rising demand for eco-friendly products. This report offers a comprehensive analysis of the current market dynamics, key growth drivers, and potential opportunities within the rPET industry.

Market Growth Drivers:

Several factors are contributing to the growth of the global rPET market, including rising consumer awareness about plastic pollution and the need for sustainable solutions. Stringent government regulations, such as recycling mandates and plastic waste reduction targets, are driving the demand for rPET across various industries. The food and beverage sector is a major contributor, as manufacturers adopt rPET packaging to meet sustainability goals and appeal to eco-conscious consumers. Additionally, advancements in recycling technologies and the growing adoption of circular economy models are expected to fuel the market's expansion. The increased use of rPET in the textile industry, particularly in the production of clothing made from recycled plastic bottles, is also contributing to the market's growth.

Market Restraints:

Despite its strong growth trajectory, the global rPET market faces several challenges. The availability of high-quality post-consumer PET (PCR-PET) for recycling remains a critical issue, as the collection and sorting of PET waste can be inefficient in certain regions. Additionally, rPET production costs are often higher than that of virgin PET, which may discourage some manufacturers from adopting it. There are also concerns regarding the potential contamination of rPET with other materials, which can affect its quality and recyclability. Furthermore, the global supply chain for recycled materials is fragmented, leading to inconsistencies in supply and quality.

Market Opportunities:

The rPET market presents significant opportunities driven by ongoing technological advancements in recycling processes and increased investments in recycling infrastructure. The growing trend of sustainability across industries presents opportunities for rPET producers to forge strategic partnerships with packaging companies, especially within the food and beverage sector. Rising consumer demand for eco-friendly products, particularly in the form of packaging made from recycled materials, is fueling the growth of rPET. Moreover, the circular economy movement is encouraging businesses to adopt more sustainable practices, creating opportunities for rPET adoption in industries like automotive, electronics, and textiles. Expansion in emerging markets, where recycling infrastructure is improving, also provides new growth avenues for the global rPET market.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the global rPET market?
How are government regulations and sustainability initiatives influencing the rPET market?
What are the key applications and industries driving demand for rPET products?
Who are the leading players in the global rPET market, and what strategies are they employing to maintain their market positions?
What are the emerging trends and future prospects in the global rPET market?

Competitive Intelligence and Business Strategy:

Leading companies in the global rPET market, such as Indorama Ventures, Coca-Cola, and Veolia, are focusing on expanding their recycling capacities and improving the quality of recycled PET. These companies are investing in advanced recycling technologies like chemical recycling, which enables the processing of PET waste that cannot be recycled through traditional mechanical methods. Partnerships with retailers, food and beverage companies, and packaging manufacturers are vital for expanding market reach and ensuring a consistent supply of high-quality rPET. Sustainability is a key competitive advantage, as brands increasingly prioritize environmentally friendly practices. Additionally, companies are focusing on expanding their global footprint by entering emerging markets, where the adoption of recycling infrastructure is growing rapidly.

Key Companies Profiled:

Indorama Ventures
Phoenix Technologies International, LLC
Biffa
Alpek
Plastipak Packaging
Extrupet Group (Pty) Ltd
Alpla
JP Recycling Ltd
Evergreen Plastics, Inc.
PolyQuest
Iterum (PET Baltija)
Ganesha Ecosphere Ltd.

Market Segmentation

By Product Type

Flakes
Fibers
Resins

By Application

Packaging
Textiles
Strapping
Footwear
Automotive
Flooring Materials
Misc. (Engineered Resins, etc.)

By Region

North America
Europe
East Asia
South Asia & Pacific
Latin America
The Middle East and Africa

Product Code: PMRREP34985

1. Executive Summary

1.1. Global Recycled PET (rPET) Market Snapshot, 2024 and 2031
1.2. Market Opportunity Assessment, 2024 - 2031, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Product Lifecycle Analysis
2.4. Recycled PET (rPET) Market: Value Chain
- 2.4.1. List of Raw Material Suppliers
- 2.4.2. List of Manufacturers
- 2.4.3. List of Distributors
- 2.4.4. Profitability Analysis
2.5. Forecast Factors - Relevance and Impact
2.6. Covid-19 Impact Assessment
2.7. PESTLE Analysis
2.8. Porter Five Force's Analysis
2.9. Geopolitical Tensions: Market Impact
2.10. Regulatory and Application Landscape

3. Macro-Economic Factors

3.1. Global Sectorial Outlook
3.2. Global GDP Growth Outlook
3.3. Global Parent Market Overview

4. Price Trend Analysis, 2019 - 2031

4.1. Key Highlights
4.2. Key Factors Impacting Product Prices
4.3. Prices By Product Type/Composition/Application
4.4. Regional Prices and Product Preferences

5. Global Recycled PET (rPET) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

5.1. Key Highlights
- 5.1.1. Market Size and Y-o-Y Growth
- 5.1.2. Absolute $ Opportunity
5.2. Market Size (US$ Bn) Analysis and Forecast
- 5.2.1. Historical Market Size Analysis, 2019 - 2023
- 5.2.2. Current Market Size Forecast, 2024 - 2031
5.3. Global Recycled PET (rPET) Market Outlook: Product Type
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Bn) and Volume (Tons) Analysis By Product Type, 2019 - 2023
- 5.3.3. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Product Type, 2024 - 2031
  - 5.3.3.1. Flakes
  - 5.3.3.2. Fibers
  - 5.3.3.3. Resins
5.4. Market Attractiveness Analysis: Product Type
5.5. Global Recycled PET (rPET) Market Outlook: Application
- 5.5.1. Introduction / Key Findings
- 5.5.2. Historical Market Size (US$ Bn) and Volume (Tons) Analysis By Application, 2019 - 2023
- 5.5.3. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Application, 2024 - 2031
  - 5.5.3.1. Packaging
  - 5.5.3.2. Textiles
  - 5.5.3.3. Strapping
  - 5.5.3.4. Footwear
  - 5.5.3.5. Automotive
  - 5.5.3.6. Flooring Materials
  - 5.5.3.7. Misc. (Engineered Resins, etc.)
5.6. Market Attractiveness Analysis: Application

6. Global Recycled PET (rPET) Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Bn) and Volume (Tons) Analysis By Region, 2019 - 2023
6.3. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Region, 2024 - 2031
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America Recycled PET (rPET) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Bn) and Volume (Tons) Analysis By Market, 2019 - 2023
- 7.3.1. By Country
- 7.3.2. By Product Type
- 7.3.3. By Application
7.4. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Country, 2024 - 2031
- 7.4.1. U.S.
- 7.4.2. Canada
7.5. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Product Type, 2024 - 2031
- 7.5.1. Flakes
- 7.5.2. Fibers
- 7.5.3. Resins
7.6. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Application, 2024 - 2031
- 7.6.1. Packaging
- 7.6.2. Textiles
- 7.6.3. Strapping
- 7.6.4. Footwear
- 7.6.5. Automotive
- 7.6.6. Flooring Materials
- 7.6.7. Misc. (Engineered Resins, etc.)
7.7. Market Attractiveness Analysis

8. Europe Recycled PET (rPET) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Bn) and Volume (Tons) Analysis By Market, 2019 - 2023
- 8.3.1. By Country
- 8.3.2. By Product Type
- 8.3.3. By Application
8.4. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Country, 2024 - 2031
- 8.4.1. Germany
- 8.4.2. France
- 8.4.3. U.K.
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Rest of Europe
8.5. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Product Type, 2024 - 2031
- 8.5.1. Flakes
- 8.5.2. Fibers
- 8.5.3. Resins
8.6. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Application, 2024 - 2031
- 8.6.1. Packaging
- 8.6.2. Textiles
- 8.6.3. Strapping
- 8.6.4. Footwear
- 8.6.5. Automotive
- 8.6.6. Flooring Materials
- 8.6.7. Misc. (Engineered Resins, etc.)
8.7. Market Attractiveness Analysis

9. East Asia Recycled PET (rPET) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Bn) and Volume (Tons) Analysis By Market, 2019 - 2023
- 9.3.1. By Country
- 9.3.2. By Product Type
- 9.3.3. By Application
9.4. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Country, 2024 - 2031
- 9.4.1. China
- 9.4.2. Japan
- 9.4.3. South Korea
9.5. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Product Type, 2024 - 2031
- 9.5.1. Flakes
- 9.5.2. Fibers
- 9.5.3. Resins
9.6. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Application, 2024 - 2031
- 9.6.1. Packaging
- 9.6.2. Textiles
- 9.6.3. Strapping
- 9.6.4. Footwear
- 9.6.5. Automotive
- 9.6.6. Flooring Materials
- 9.6.7. Misc. (Engineered Resins, etc.)
9.7. Market Attractiveness Analysis

10. South Asia & Oceania Recycled PET (rPET) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Bn) and Volume (Tons) Analysis By Market, 2019 - 2023
- 10.3.1. By Country
- 10.3.2. By Product Type
- 10.3.3. By Application
10.4. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Country, 2024 - 2031
- 10.4.1. India
- 10.4.2. Southeast Asia
- 10.4.3. ANZ
- 10.4.4. Rest of South Asia & Oceania
10.5. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Product Type, 2024 - 2031
- 10.5.1. Flakes
- 10.5.2. Fibers
- 10.5.3. Resins
10.6. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Application, 2024 - 2031
- 10.6.1. Packaging
- 10.6.2. Textiles
- 10.6.3. Strapping
- 10.6.4. Footwear
- 10.6.5. Automotive
- 10.6.6. Flooring Materials
- 10.6.7. Misc. (Engineered Resins, etc.)
10.7. Market Attractiveness Analysis

11. Latin America Recycled PET (rPET) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Bn) and Volume (Tons) Analysis By Market, 2019 - 2023
- 11.3.1. By Country
- 11.3.2. By Product Type
- 11.3.3. By Application
11.4. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Country, 2024 - 2031
- 11.4.1. Brazil
- 11.4.2. Mexico
- 11.4.3. Rest of Latin America
11.5. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Product Type, 2024 - 2031
- 11.5.1. Flakes
- 11.5.2. Fibers
- 11.5.3. Resins
11.6. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Application, 2024 - 2031
- 11.6.1. Packaging
- 11.6.2. Textiles
- 11.6.3. Strapping
- 11.6.4. Footwear
- 11.6.5. Automotive
- 11.6.6. Flooring Materials
- 11.6.7. Misc. (Engineered Resins, etc.)
11.7. Market Attractiveness Analysis

12. Middle East & Africa Recycled PET (rPET) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

12.1. Key Highlights
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Bn) and Volume (Tons) Analysis By Market, 2019 - 2023
- 12.3.1. By Country
- 12.3.2. By Product Type
- 12.3.3. By Application
12.4. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Country, 2024 - 2031
- 12.4.1. GCC
- 12.4.2. South Africa
- 12.4.3. Northern Africa
- 12.4.4. Rest of Middle East & Africa
12.5. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Product Type, 2024 - 2031
- 12.5.1. Flakes
- 12.5.2. Fibers
- 12.5.3. Resins
12.6. Current Market Size (US$ Bn) and Volume (Tons) Forecast By Application, 2024 - 2031
- 12.6.1. Packaging
- 12.6.2. Textiles
- 12.6.3. Strapping
- 12.6.4. Footwear
- 12.6.5. Automotive
- 12.6.6. Flooring Materials
- 12.6.7. Misc. (Engineered Resins, etc.)
12.7. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2023
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping By Market
- 13.2.2. Competition Dashboard
- 13.2.3. Apparent Production Capacity
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Indorama Ventures Public Company Limited
  - 13.3.1.1. Overview
  - 13.3.1.2. Segments and Products
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. Phoenix Technologies International, LLC
- 13.3.3. Biffa
- 13.3.4. Alpek
- 13.3.5. Plastipak Holdings, Inc
- 13.3.6. Clear Path Recycling, LLC
- 13.3.7. ALPLA Group
- 13.3.8. UltrePet LLC
- 13.3.9. JP Recycling Ltd
- 13.3.10. Extrupet Group (Pty) Ltd
- 13.3.11. Evergreen Plastics, Inc.
- 13.3.12. PolyQuest

Note: List of companies is not exhaustive in nature. It is subject to further augmentation during course of research

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations