Recycled Polyethylene Terephthalate Market (RPET) Expected to Grow at a CAGR of 4.10% by 2028
The Recycled Polyethylene Terephthalate Market (RPET) would increase at a CAGR of 4.10% from 2021 to 2028, reaching an anticipated value of USD 21.56 billion. The packaging market for recycled polyethylene terephthalate (RPET) is developing as a result of growing applications for RPET fibre in the packaging sector.
The extensively used polymer polyethylene terephthalate is commonly referred to as PETE or PET. It is a naturally translucent plastic that is extensively used for everyday items. Recycled-PET is frequently used in the packaging of food and drink, medicines, cosmetics, and electrical items because of its abilities to inhibit the growth of mould, fungus, and bacteria.
Growing consumer awareness of plastics recycling combined with favourable government regulations regarding plastics recycling, low production cost of recycling polyethylene as compared to other polymers, rising product consumption for the end-user application, and rising demand for bottled beverages are all important factors accelerating the market growth.
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The major players covered in the recycled polyethylene terephthalate market (RPET) packaging market report are:
Placon, Verdeco Recycling Midwest Inc, Montello Spa, Antares Chem Private Limited, Indorama Ventures Public Company Limited, Zhejiang Anshun Pettechs Fibre Co.,Ltd., PolyQuest, Evergreen Plastics, Phoenix Technologies Ltd., M&G Chemicals S.A and LIBOLON among other domestic and global players.
Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Based on type, the recycled polyethylene terephthalate market (RPET) packaging market is segmented into clear and colored.
The recycled polyethylene terephthalate market (RPET) packaging market is also segmented on the basis of end-user industry into fibers, sheets and films, strapping, food-grade bottle and containers, non-food-grade bottle and containers and others.
Recycled Polyethylene Terephthalate Market (RPET) Packaging Market Country Level Analysis
Asia-Pacific dominates the recycled polyethylene terephthalate market (RPET) packaging market due to increasing demand for food and non-food bottles across a large number of end-use industries and improving economic conditions in this region.
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Latin America is expected region in terms of growth in recycled polyethylene terephthalate market (RPET) packaging market due to rising technological advancement and modernization in the production techniques, growing awareness regarding recycling of plastics coupled with favorable government regulations regarding the recycling of plastics, low production cost of recycling polyethylene as compared to other polymers and rising product consumption for the end-user application in this region.
The recycled polyethylene terephthalate market (RPET) packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to recycled polyethylene terephthalate market (RPET) packaging market.