The global Recycled PET Flakes Market size is expected to reach USD 21.03 billion by 2030, registering CAGR of 10.9% during the forecast period, according to a new report by Grand View Research, Inc. Recycled PET flakes exhibit numerous superior characteristics such as quick drying, heat retention, stretching resistance, softness, wrinkle resistance, high stiffness, and improved tensile and flexural strength. These characteristics promote their demand in the textiles and carpet industries, and expected to drive demand during the forecast period.
High demand for sheets & films developed from recycled polyethylene terephthalate flakes in Europe is expected to contribute to the growth of sheets & films segment of the market during the forecast period. The dominance of shopping malls over brick-and-mortar stores and the stringent implementation of regulations have driven the growth of recycled PET flakes market as sellers of fruits and vegetables sell their products in packets, boxes, or containers.
Additionally, the government initiatives toward a sustainable and clean environment creating more demand for the sustainable rPET flakes products. In the past decade, Europe has focused increasingly on recycled plastics owing to the introduction of a circular economy for plastics by the European Union. The implementation of the circular economy by the countries such as Germany, Italy, France, the UK, and Spain is anticipated to strengthen their plastic recycling capacity and augment the production of recycled PET flakes.
Recycled PET flakes exhibit numerous superior characteristics such as quick drying, heat retention, stretching resistance, softness, wrinkle resistance, high stiffness, and improved tensile and flexural strength. These characteristics promote their demand in the textiles and carpet industries. In addition, these flakes possess an enhanced surface and flow finish. The better dimensional stability and uniform shrinkage offered by the recycled PET flakes than their substitutes also fuel growth of the market, worldwide.
List of Key Players of Recycled PET Flakes Market
- Clear Path Recycling LLC
- Verde co Recycling
- Indorama Ventures Public Ltd.
- PolyQuest
- Evergreen Plastics, Inc.
- Biffa
- GSM Plastic Industries
- RCS Entsorgung GmbH
- TOMRA System ASA
- Polyvim LLC
- Veolia Umweltservice GmbH
- AMAANI POLYFLAKES
- Pashupati Polytex Pvt. Ltd.
- AlEn USA
- RAHSAM Co.
- LANGGENG JAYA GROUP
Related Press Release@ Recycled PET Flakes Market Report
Recycled PET Flakes Market Report Highlights
- In terms of revenue, the clear PET flakes product accounted for a prominent share of the market in 2022 and is further expected to witness prominent growth during the forecast period owing to the rising demand for flakes across various industries including automotive, building & construction, textile, and others
- Non-food bottles & containers segment dominated the end-use industry of the market and accounted for more than 27.0% share of the revenue in 2022.Increasing spending on the commissioning of manufacturing units, particularly in Asia Pacific, is expected to surge the demand for recycled PET flakes, used for developing non-food bottles & containers
- As of 2022, Asia Pacific accounted for more than 30.0% share of the market in terms of revenue. The recycled polyethylene terephthalate flakes in this region is projected to witness strong growth during the coming years due to the increasing demand for the food and non-food bottles designed for use across various industries and the growing economies in the region
- Major top players are continuously working on developing their manufacturing plants owing to the increased usage of recycled PET flakes in the fiber, and food & beverage industry. For instance, in November 2021, Amcor developed the lightest 900-ml PET bottle, which can be recycled a number of times. It has been one of the latest developments related to the recycling of PET flakes carried out in Central & South America in recent times
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Recycled PET Flakes Market Report Scope
Report Attribute
Details
Market size value in 2023
USD 10.17 billion
Revenue forecast in 2030
USD 21.03 billion
Growth Rate
CAGR of 10.9% from 2023 to 2030
Base year for estimation
2022
Historical data
2018 - 2021
Forecast period
2023 - 2030
Recycled PET Flakes Market Segmentation
Grand View Research has segmented the global recycled PET flakes market report based on the product, end-use, and region:
Recycled PET Flakes Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Clear
- Colored
Recycled PET Flakes End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Fiber
- Sheet & Film
- Strapping
- Food & beverage bottles & containers
- Non-food bottles & containers
- Others
Recycled PET Flakes Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- GCC Countries
- SouthAfrica
The global Recycled PET Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.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 PLACON, Clear Path Recycling LLC, Verdeco Recycling, Inc., M Chemicals, Zhejiang Anshun Pettechs Fibre Co., Ltd., PolyQuest, Evergreen Plastics, Inc., Phoenix Technologies, Libolon.
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.
