Recycled Polyethylene Terephthalate Market Size 2019, Growth Opportunities, Business Strategies, Industry Analysis, Comprehensive Research Study Till 2023

recycled PET in the textile industry is anticipated to play a significant role in the growth of the recycled polyethylene terephthalate market in the nearby future.

Pune, India - June 12, 2019 /MarketersMedia/ —

Market Synopsis:

Increasing use of polyethylene terephthalate (PET) poses serious threats to the environment. The rising dependency on PET products across industries has paved the way for the recycling of PET. Market Research Future (MRFR) has found out in its latest assessment that the global recycled polyethylene terephthalate market is poised to expand at 8.50% CAGR across the projection period 2018 to 2023. The report further assesses that the market is expected to surpass USD 10,000 Mn by 2023.

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Rising applications across different industries such as textile, consumer electronics, etc. are projected to accelerate revenue growth of the recycled polyethylene terephthalate market over the next couple of years. Favorable laws implemented by the governments for supporting the recycling and reuse of PET is expected to favor the expansion of the market in the years to come.

The use of recycled PET in the textile industry is anticipated to play a significant role in the growth of the recycled polyethylene terephthalate market in the nearby future. The fiber made of recycled PET offers high strength which is prognosticated propel market expansion in the forthcoming years. The market is expected to gain traction in the years to come owing to innovations being brought by industry leaders. For instance, PET has paved its way across the construction industry for building roads and highways.

Competitive Dashboard:

Verdeco Recycling Inc.
M&G Chemicals
Zhejiang Anshun Pettechs Fiber co. Ltd
PolyQuest, Inc.
Phoenix Technologies
Evergreen Plastics
Indorama Ventures Public Company Limited
Placon Corporation
Montello S.p.A
Clear Path Recycling
Industry News:

In January 2019, DAK Americas LLC, an Alpek Polyester business, has signed an agreement with Perpetual Recycling Solutions LLC (Perpetual) for the acquisition of Perpetual PET recycling facility in Richmond, Ind.

In October 2018, rPlanet Earth, a company that focuses on the recycling of post-consumer plastics, has started the first vertically integrated plant for the conversion of PET packaging waste into finished rPET products. The company aims at producing recycled products with properties comparable to virgin PET.

Market Segmentation:

By type, the global recycled polyethylene terephthalate market has been bifurcated into clear and colored. The clear segment is likely to exhibit higher growth and is anticipated to maintain a larger share of the market in the upcoming years. The economic nature of the clear RPET is poised to act as a growth catalyst for the market segment.

The recycled polyethylene terephthalate market, by application, has been segmented into fiber, strapping, food grade bottles & containers, sheet & film, and non-food grade bottles & containers. Among these, the fiber segment is projected to witness a boom over the next couple of years. The increasing demand for RPET fiber from the textile industry owing to key advantages such as high strength and functional versatility is likely to facilitate the expansion of the segment.

Regional Analysis:

By region, the global recycled polyethylene terephthalate market is segmented into five regions – North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa (MEA). Asia Pacific is anticipated to maintain the highest share of the market over the assessment period. Rapid industrialization and urbanization are anticipated to fuel demand for RPET in the region. Also, the region is likely to become the hub for recycling PET over the next couple of years. The recycled polyethylene terephthalate market in the region is anticipated to mark a CAGR of 8% across the forecast period.

Europe is the second leading market and is prognosticated to exhibit substantial growth in the years to come. Germany and Italy are the prime nations co9ntributing towards the development of the recycled polyethylene terephthalate market in the region.

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Contact Info:
Name: Abhishek
Email: Send Email
Organization: Market Research Future
Address: WantStats Research and Media Pvt. Ltd. Office No. 528, Amanora Chambers Pune - 411028 Maharashtra, India

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Source: MarketersMedia

Release ID: 523471

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