H1 2023: In January 2023, Revalyu Recycling (India) Limited announced the commencement of the construction of a PET plastic recycling facility with a daily processing capacity of 200 tonnes. Leveraging an established and fully operational Chemical Recycling technology at their facility in Nashik, India, this new plant marks a substantial expansion in the company's capability to recycle used plastic bottles. The upcoming facility, situated in Nashik, India, is anticipated to become operational within a 12-month timeframe. Employing cutting-edge Chemical Recycling technology, it will transform used plastic bottles into premium-quality sustainable polyester polymer (ester), rPET chips, and filament yarns. in late January 2023, revalyu Resources (revalyu), disclosed an investment of USD 50 million for the initial phase of its strategic expansion into the USA. The new plant will be situated in Statesboro, Georgia, facility commissioning is planned for the year 2024. This Statesboro site will possess the capability to recycle and process over 102 tonnes per day of used PET waste into sustainable PET polymers (esters) and rPET chips. In subsequent expansions, the plant's capacity is envisioned to reach up to 200 tonnes. In May 2023, PET Baltija, a major PolyEthylene Terephthalate (PET) recycling entity in Northern Europe and a subsidiary of Eco Baltia, the largest waste management and recycling group in the Baltics, revealed an investment exceeding EUR 10 million for the establishment of a new PET recycling facility in Olaine, Latvia. The collaborative initiative involves Eco Baltia, supported by the INVL Baltic Sea Growth Fund, and Piche, a prominent industrial park developer in Latvia with the overall investment more than EUR 35 million. In April 2023, Biffa, a prominent player in sustainable waste management of UK, disclosed its acquisition of Esterpet Ltd, a PET plastic recycling company located in North Yorkshire. In June 2023, ALPLA announced about establishing an advanced recycling facility in the coastal town of Ballito, situated north of Durban in South Africa. This venture, projected to yield 35 thousand tonnes of recycled PET material. The construction is set to commence in the summer of 2023, with the anticipated completion in the autumn of 2024. ALPLA made an investment of approximately 60 million euros for this new project.
The global R-PET market stood at approximately 4.85 million tonnes in 2022 and is anticipated to grow at a healthy CAGR of 8.4% during the forecast period until 2032.
PET recycling is a meticulous five-stage process ensuring sustainability. Starting with disposal, PET-based items are identified, collected, and transferred to a materials recovery facility. The second stage involves shredding, separation, cleaning, and sorting, resulting in cleaned plastic flakes. These flakes undergo mixing and formulating additives, creating a recycled base polymer tailored for specific applications. The final step, reactive compounding, includes melting, blending with additives, extrusion, and pelletization, ensuring high-quality recycled material. Facilities like Lavergne's Plastic Care Centres employ these steps, emphasizing rigorous monitoring and testing to meet certified quality standards. This meticulous process promotes environmental responsibility and supports the circular economy.
Recycled Polyethylene Terephthalate (R-PET) finds versatile applications across multiple industries, contributing to sustainability and environmental conservation. In the packaging sector, R-PET is extensively utilized for the production of bottles, containers, and packaging films. Its use in beverage and food packaging, particularly for water and soft drinks, has become widespread as a sustainable alternative to traditional packaging materials. The recycled content in R-PET reduces the demand for virgin PET and mitigates the environmental impact associated with single-use plastics. Additionally, R-PET has gained prominence in the production of non-food containers, such as cosmetic and personal care packaging, household products, and industrial containers. In the textile and apparel industry, R-PET is employed to create recycled polyester fibers and fabrics. This application aligns with the growing demand for sustainable and eco-friendly clothing options. R-PET fibers are used in the manufacturing of garments, sportswear, and various textiles, contributing to the circular fashion economy by promoting recycling and reducing the reliance on virgin polyester. The automotive sector also benefits from R-PET, where it is employed in the manufacturing of car parts, upholstery, and interior components.
R-PET serves as a valuable material in promoting a circular economy by diverting plastic waste from landfills and oceans, conserving resources, and minimizing the environmental impact of various products and industries. The R-PET (Recycled Polyethylene Terephthalate) market is being propelled by the growing emphasis on sustainability in packaging solutions. Increased awareness of environmental concerns and a surge in corporate initiatives to achieve circular economy goals have fueled the demand for recycled PET. With its ability to significantly reduce carbon footprint and dependence on virgin plastics, R-PET is witnessing heightened adoption in the packaging industry. Regulatory initiatives promoting recycling practices and the rising consumer preference for eco-friendly products further drive market growth. Additionally, the demand for R-PET is bolstered by the robust growth of industries such as food and beverage, personal care, and household products, where sustainable packaging solutions are increasingly becoming a crucial factor in brand positioning and consumer choice. The R-PET market's trajectory is indicative of a broader shift towards eco-conscious practices and the acknowledgment of recycled materials as pivotal components in achieving a more sustainable and responsible approach to packaging. The global R-PET market size is anticipated to reach nearly 10.8 million tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of R-PET. The Asia-Pacific region is anticipated to assert dominance in the R-pet market in the foreseeable future. This ascendancy is driven by a confluence of factors, including the region's robust industrialization and urbanization trends, leading to heightened demand for plastic materials across diverse applications. Government initiatives and stringent regulations on plastic waste management in countries like China and India are fostering a proclivity towards sustainable practices, propelling the adoption of recycled materials such as R-PET. The burgeoning manufacturing sector in the region, coupled with increasing consumer preferences for eco-friendly products, further cements the Asia-Pacific region's pivotal role in shaping the trajectory of the R-LLDPE market. As sustainability continues to gain prominence in business strategies, the region is poised to maintain its lead in driving the adoption of recycled linear low-density polyethylene.
Based on the end-user industry, the global R-PET market is divided into Fiber, Sheet & Films, Food & Beverage Containers & Bottles, and Others. However, Fiber industry dominates the global R-PET market followed by Sheet & Films industry.
Major players in the Global R-PET market are Placon, Clear Path Recycling LLC, Verdeco Recycling, Inc., Indorama Ventures Public Ltd., Zhejiang Anshun Pettechs Fibre Co., Ltd., PolyQuest, Evergreen Plastics, Inc., Biffa, Phoenix Technologies, Libolon, and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of R-PET which covers production, demand and supply of R-PET market in the globe.
• To analyse and forecast the market size of R-PET
• To classify and forecast Global R-PET market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of R-PET market in the globe.
To extract data for Global R-PET market, primary research surveys were conducted with R-PET manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global R-PET market over the coming years.
ChemAnalyst calculated R-PET demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce R-PET. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• R-PET manufacturers and other stakeholders
• Organizations, forums and alliances related to R-PET distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as R-PET manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global R-PET market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
4.85 million tonnes
Market size Volume in 2032
10.8 million tonnes
Growth Rate
CAGR of 8.4% from 2023 to 2032
Base year
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Fiber, Sheet & Films, Food & Beverage Containers & Bottles, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of R-PET in terms of volume in 2022?
Ans:
The global market size of R-PET had reached approximately 4.85 million tonnes in 2022.
Q2.
Which region is the major consumer of R-PET?
Ans:
Asia Pacific region is the leading consumer of R-PET globally.
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