New York, NY, March 10, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Recycled PET Flakes Market Share, Size, Trends, Industry Analysis Report, By Product (Clear, Colored), By End-use (Fiber, Sheet & Film, Strapping, Food, and beverage bottles & containers); By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research study, the global recycled PET flakes market size/share is anticipated to be valued at approximately USD 9.28 Billion in 2022 and is projected to hit a revenue of around USD 25.47 Billion By 2032, at a CAGR of around 10.7% between 2023 and 2032.”
What are Recycled PET Flakes? How Big is Recycled PET Flakes Market Size & Share?
- Overview
Manufacturers can use PET bottle recycling as a raw material, packaging food and beverages, personal care products, and many other consumer products. PET stands for polyethylene terephthalate, which is a form of polyester. The rapidly rising demand for recycled PET flakes market can be attributed to its growing utilization of plastics for industrial and consumer usage. Manufacturers use PET bottle flakes as a raw material for a range of products that would otherwise have been made of polyester.
The growth of this industry can be attributed to the consolidated development of the food and beverages, household appliances, and personal care products sub-segment. Recycled PET flakes are used in fibers to produce various types of clothing, such as t-shirts and jackets. They are additionally used in the manufacture of automobile seat covers, sofa and chair covers, carpets, and so on.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key data covered in the market report
- Comprehensive market overview.
- Explanation of the market dynamics.
- Value chain analysis for the market value report.
- Market segmentation overview.
- The regional analysis of market trends overview.
Some of the Top Market Players Are:
- Clear Path Recycling
- Verde co Recycling
- Indorama Ventures Public
- Poly Quest
- Biffa
- GSM Plastic
- RCS Entsorgung
- TOMRA System
- Polyvim
- Veolia Umweltservice
- AMAANI POLYFLAKES
- Pashupati Polytex
- AlEn USA
- RAHSAM
- LANGGENG JAYA GROUP
- Evergreen Plastics
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Key factors driving market growth
- Implementation of stringent regulation by the government to push the market
The rapid shift in consumer behavior towards sustainability with the implementation of stringent regulation by governments and increasing demand for rPET, especially from the food and beverage industry, are some of the ley factors driving the market. The recycled PET flakes market size is expanding as it has many features such as durability, adaptability, eco-friendly and infinite recyclability in F&B and textile sectors.
Recycled PET materials are lightweight, and transportation costs and lower energy consumption during the production of products are beneficial. Recycled PET flakes market sales are soaring as the material provides effective break-proof protection to products within rPET packaging. As per COCA-COLA HBC Switzerland, the reduction of weight of 450-milliliter bottles from 22.7 to 19.5 grams was made attainable to reduce the amount of material used for packaging.
Recent trends influencing the market
Rising demand for electric vehicles in the US to drive the market
- The recycled PET market in the US is expected to witness significant growth during the coming years due to the rising demand for electric vehicles in the US. This is anticipated to augment the requirement for lightweight and durable plastic components to enhance their efficiency.
- Several key market players have into strategic mergers and acquisitions, joint ventures, and new product development to expand their market presence in the global market. In the past few years, the joint venture has been an integral part of the rPET flakes industry that allows market players to strengthen their market position globally.
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Segmentation assessment
- The clear segment is expected to witness the fastest growth
Based on the product, the clear segment is expected to witness the fastest growth. The recycled PET flakes market demand is on the rise due to factors such as ease of bottle-to-bottle recycling, reduced carbon footprint, and low energy usage during remanufacturing. Recycled products are more demanded in FMCG, personal care, pharmaceuticals, and cosmetics.
- Non-food bottles and containers segment accounted for the largest market share
Based on end use, the non-food bottles and containers segment accounted for the largest market share. Recycled PET flakes market trends include lower manufacturing and material costs, user-friendly features such as precise content dosing by pressure on flexible containers, and high recycling capabilities along with a beautiful look in the finished product. Similar to the beverage industry, the transition to PET packaging for domestic items, cosmetics, personal care products, cleaning products, and chemicals.
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Recycled PET Flakes Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 25.47 Billion |
| Market size value in 2023 | USD 10.24 Billion |
| Expected CAGR Growth | 10.7% from 2023 - 2032 |
| Base Year | 2021 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Clear Path Recycling, Verde co Recycling, Indorama Ventures Public, Poly Quest, Biffa, GSM Plastic, RCS Entsorgung, TOMRA System, Polyvim, Veolia Umweltservice, AMAANI POLYFLAKES, Pashupati Polytex, AlEn USA, RAHSAM, LANGGENG JAYA GROUP, Evergreen Plastics |
| Segments Covered | By Product, By End Use, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
Asia Pacific held the largest recycled PET flakes market share due to the presence of major food and beverage industries in the Asia Pacific region also increased recycled investments in these regions. China is the largest producer of rPET flakes, and Japan is one of the Asia Pacific countries which have more regulations towards the use of food-grade recycled PET flakes.
Europe is expected to steady revenue growth during the study period. The Europe market is boosted due to the rapid adoption of food contact recycled PET flake material. Innovative packaging is one of the key factors for the market growth of food-grade material. Sometimes the cost of dumping in Europe exceeds that of recycling PET to make flakes.
Browse the Detail Report “Recycled PET Flakes Market Share, Size, Trends, Industry Analysis Report, By Product (Clear, Colored), By End-use (Fiber, Sheet & Film, Strapping, Food, And beverage bottles & containers); By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/recycled-pet-flakes-market
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Recent Developments
- In Dec 2022, Coca-Cola partnered with Mark Ronson & Madlib and introduced "Recycled Records."
- In Dec 2022, Tupperware & the National Park Foundation announced the partnership to reduce waste across the National Park System. Through this partnership, they reduced single-use plastic waste by installing water bottle refill stations, recycling and composting infrastructure, and informative signs.
Frequently Asked Questions
- Who are the crucial companies operating the market?
- What are the major industry norms influencing the development of the industry?
- Which is the most propelling country in the industry?
- Which application or product type will obtain progressive development possibilities during the forecast period?
- What is the expected growth rate of the market during the foreseen period?
Polaris Market Research has segmented the recycled PET flakes market report based on product, end-use, and region:
By Product Outlook
- Clear
- Colored
By End Use Outlook
- Fiber
- Sheet & Film
- Strapping
- Food & beverage bottles & containers
- Non-food bottles & containers
- Other
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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