PUBLISHER: Value Market Research | PRODUCT CODE: 1547525
PUBLISHER: Value Market Research | PRODUCT CODE: 1547525
The global demand for Recycled PET Market is presumed to reach the market size of nearly USD 12.95 Billion by 2032 from USD 6.72 Billion in 2023 with a CAGR of 7.55% under the study period 2024-2032.
Recycled PET is a sustainable packaging solution obtained by recycling Polyethylene terephthalate (PET) bottles. RPET is highly preferred as a sustainable packaging solution as it has a lower carbon footprint than virgin PET. rPET is lightweight, reduces transportation costs, and is used extensively in food and beverage packaging. The bottles made of rPET are shatterproof, provide safety and hygiene in the logistical chain, retail environments, and the home. PET can be recycled into new containers, bottles, carpet, protective packaging, industrial strapping, automotive parts, construction materials, clothing, even the felt for tennis balls and tennis ball canisters. The use of recycled PET instead of virgin resin typically reduces energy consumption, lower cost, and reduced environmental impact.
Organizations and consumers looking for sustainable packaging solutions to reduce the carbon footprint is the primary stimulant for recycled PET market. Many big brands adopting recycled PET for packaging beverages will benefit market growth. The setup of new facilities to recycle used PET bottles into new food-grade PET bottles and containers will further expand this market's development. These products being highly functional, cost-effective, and often stylish, will be sought after in various applications, from reusable carry bags to roof insulation in the coming years. Recycled PET gaining traction in the textile industry as a sustainable alternative to polyester will enhance the market growth. Emerging entrepreneurs looking at recycled PET for insulation, high-quality merchandise, uniforms will be a market booster. The main constraints of the market are high costs and the environmental impact associated with recycling.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Recycled PET. The growth and trends of Recycled PET industry provide a holistic approach to this study.
This section of the Recycled PET market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Recycled PET market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Recycled PET market include Phoenix Technologies International LLC, Indorama Ventures Public Company Limited, UltrePET LLC, ALPLA, CarbonLITE Industries LLC, JP Recycling Ltd, PETCO, Extrupet Group (Pty) Ltd, Evergreen Plastics Inc, Verdeco Recycling Inc. Seiu Japan Co. Ltd., Custom Polymers Inc, Marglen Industries, PolyQuest. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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