Recyclate PET Market Size (2024 - 2029)

The Recyclate PET Market is projected to experience significant growth over the forecast period, driven by increasing consumer and industry focus on sustainability and rising demand from the textile sector. Despite challenges such as lower profit margins and the impact of the COVID-19 pandemic, which disrupted manufacturing and supply chains, the market has shown resilience and recovery. Innovations in recycling technologies and new material sources present promising opportunities for expansion. The Asia-Pacific region leads the market, fueled by substantial demand from countries like China, India, and Japan.

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Market Size of Recyclate PET Industry

Recyclate PET Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 7.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Recyclate PET Market Major Players

*Disclaimer: Major Players sorted in no particular order

Recyclate PET Market Analysis

The Recyclate PET Market size is estimated at 4.78 Million tons in 2024, and is expected to reach 6.80 Million tons by 2029, growing at a CAGR of greater than 7% during the forecast period (2024-2029).

The COVID-19 pandemic negatively impacted the market in 2020. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied. 

  • Over the medium term, factors such as the growing emphasis on sustainability among consumers and packaging products and the increasing demand from the textile industry are driving the market growth.
  • On the flip side, lower profit margins in the industry are expected to hamper the market's growth.
  • Nevertheless, the innovations in recycling technologies for automatic processing and sorting of plastics and the discovery of new material sources are likely to provide opportunities for the market studied during the forecast period.
  • Asia-Pacific dominated the global market due to the significant growth in demand coming from countries such as China, India, and Japan.

Recyclate PET Industry Segmentation

Recyclate PET, or rPET, refers to PET (polyethylene terephthalate) plastic that has been recovered and processed for reuse. It involves collecting used PET bottles and cleaning, shredding, and transforming them into pellets or flakes. These recycled materials can then be used to manufacture new PET products, reducing waste and environmental impact.

The recyclate PET market is segmented by product type, application, and geography. By product type, the market is segmented into PET staple fiber, PET straps, and PET sheets or films. By application, the market is segmented into packaging, industrial yarns, monofilaments, strapping building materials, and other applications. The report also covers the market size and forecasts for the recyclate PET market across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).

By Product Type
PET Staple Fiber
PET Straps
PET Sheets or Films
By Application
Packaging
Industrial Yarn
Mono Filaments
Strapping
Building Materials
Other Applications
By Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Recyclate PET Market Size Summary

The recyclate PET market is poised for significant growth over the forecast period, driven by increasing consumer and industry focus on sustainability and circular economy practices. The market is recovering from the setbacks caused by the COVID-19 pandemic, which had disrupted manufacturing and supply chains. The demand for recycled PET is being bolstered by its applications in the textile industry and the push for environmentally friendly packaging solutions. Innovations in recycling technologies and new material sources are expected to create further opportunities, despite challenges such as lower profit margins. The Asia-Pacific region, particularly China, India, and Japan, is a dominant force in the market, fueled by robust demand from packaging, textile, and automotive sectors.

In Europe, regulatory frameworks and initiatives aimed at achieving zero waste and circularity are driving the adoption of recycled PET, with significant contributions from fashion brands committing to using recycled fibers. The market is characterized by a fragmented landscape with key players like Phoenix Technologies, Placon, and Indorama Ventures actively participating in expansion and collaboration efforts. Notable developments include the establishment of recycling facilities and investments in increasing production capacities. The market's growth is further supported by government policies and industrial investments aimed at reducing plastic waste and promoting sustainable practices, particularly in the Asia-Pacific region, where environmental concerns and regulations are becoming increasingly stringent.

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Recyclate PET Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Emphasis on Sustainability among the Consumer and Packaging Products

      2. 1.1.2 Increasing Demand from the Textile Industry

    2. 1.2 Restraints

      1. 1.2.1 Absence of the Required Framework for Plastic Collection and Segregation

        1. 1.2.1.1 Environmental Concerns and Health Hazards

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 PET Staple Fiber

      2. 2.1.2 PET Straps

      3. 2.1.3 PET Sheets or Films

    2. 2.2 By Application

      1. 2.2.1 Packaging

      2. 2.2.2 Industrial Yarn

      3. 2.2.3 Mono Filaments

      4. 2.2.4 Strapping

      5. 2.2.5 Building Materials

      6. 2.2.6 Other Applications

    3. 2.3 By Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East & Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East & Africa

Recyclate PET Market Size FAQs

The Recyclate PET Market size is expected to reach 4.78 million tons in 2024 and grow at a CAGR of greater than 7% to reach 6.80 million tons by 2029.

In 2024, the Recyclate PET Market size is expected to reach 4.78 million tons.

Recyclate PET Market Report Snapshots

Recyclate PET Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)