Recycled PET Flakes Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Clear, Colored), By End Use (Fiber, Sheet & Film, Food & Beverage Bottles & Containers, Others), By Region, and Competition 2018-2028

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Summary

Report Description

Global Recycled PET Flakes market is anticipated to grow significantly through 2028, due to increasing demand from the food & beverage packaging sector. In 2021, recycling rate of plastic packaging waste in United Kingdom was around 44.2%. Global Recycled PET Flakes market is expected to expand during the projected period due to increasing demand from the food & beverage packing sector as it provides thermal insulation and environmental impact resistance. Consumer attitudes toward plastic waste are shifting and this growing awareness is fueling consumer movement. Recycling rates are increasing as society becomes more conscious and proactive in its efforts to reduce plastic waste. Thus, the growing awareness toward environment safety and paradigm shift towards more sustainable and ecofriendly alternatives of plastic drive the market growth. Many companies operating in the market are focusing on developing environment friendly packaging materials and is also generating technology that help in the reduction of waste from plastic packaging Along with this, many government and non-government agencies also run many awareness programs regarding the impact of plastic waste on the environment as well as benefits of recycled materials. Additionally, growing trends to minimize market sage and adoption of sustainable alternative solutions in packaging industry, are further expected to spur the market growth.


Increasing Consumer Awareness towards Sustainability


Plastic pollution is one of the major causes of different forms of environmental pollution. Consumers are becoming more aware of the impact of plastic waste on the environment, and they are actively seeking sustainable alternatives. This has resulted in a shift towards eco-friendly products, including packaging materials made from recycled PET flakes which help to protect the environment.  


For instance, according to UN Environment Programe, it is expected that the global plastic waste volume would reach 12 billion metric tonnes by 2050.


Hence, it is required to effectively manage and reduce plastic waste. This has increased the focus towards plastic recycling. Recycling rates are rising on account of growing awareness and aggressive attempts to eliminate plastic waste. Many governments are implementing regulations to reduce plastic waste and promote recycling. Such regulations are driving the demand for recycled PET flakes, as they provide a sustainable solution for managing plastic waste. In addition, government incentives and subsidies for recycling initiatives are also driving the growth of the market.

 

For instance, the European Union has set a target of recycling 55% of all plastic packaging waste by 2030.

 

Additionally, as consumers become more conscious of sustainability, there is a growing need for recyclable packaging to promote a circular economy focused on recycling and reuse. Making items from recycled PET is an energy-efficient technique that lowers CO2 emissions and utilizes almost half the energy.


For instance, according to Swiss Climate report, recycled PET offers a better ecological equilibrium than virgin PET and is 75% more environment friendly.


Therefore, increasing demand for recycled plastic increases the demand of Global Recycled PET Flakes market in the forecast years.

Additionally, advancements in recycling technology are being developed that can process a wider range of waste materials, including mixed plastics, result in increasing the efficiency and reduce the cost of recycling, making recycled PET flakes more affordable and accessible.

Growing Demand from Various End User Industries

Recycled PET is similar in characteristics and properties to PET, which is commonly used in packaging and various other applications like clothes, sheets & films, food & beverage containers, cushions, and automobile parts. The demand for recycled PET is primarily driven by the packaging demand created from food & beverage industries. Additionally, various companies operating in the market have committed to implementing at least 50% of recycled plastic in packaging by 2030.To achieve this, companies started collaborations and partnerships between organizations.


For instance, in October 2022, Coca-Cola signed an agreement with Indorama Ventures to start a polyethylene terephthalate (PET) recycling facility in the Philippines. 


Furthermore, for instance, Unilever has partnered with Ioniqa, a Dutch recycling start-up, to develop a technology that can convert PET waste into high-quality recycled PET.


Thus, increasing demand for food grade certified recycled PET led to the growth of Global Recycled PET Flakes market in the upcoming years.  

In addition, recycled PET is helping to save energy and landfill space as they are used in new building and construction applications every day. Recycled PET can be blended with virgin PET (that has not been processed before) to reduce cost without sacrificing performance. Such recycled PET is used to make polymeric timbers for use in everything from picnic tables to fences, thus helping to save trees. Moreover, recycled PET fibers are used for concrete reinforcement as fiber addition in concrete makes it resistant to cracks, wear, and tear, enhances tensile strength, improves ductility and impact strength.

Therefore, increasing utilization of recycled PET in the construction industry anticipates the growth of Global Recycled PET Flakes market in the projected years.

Clear Recycled PET Flakes will be Key Product

Clear recycled PET flakes are lightweight and non-reactive in nature. They possess the characteristics that resist the growth of mold, bacteria, and fungi. Clear recycled PET flakes are majorly used in the packaging of food products, beverages, pharmaceuticals, electronic goods, and cosmetics. Along with this, clear recycled PET flakes is also used to make plastic vehicle components, clothing, textiles, and more packaging materials.

In addition, many companies prefer clear recycled PET flakes to produce containers and bottles than opaque or colored recycled PET flakes, thus helping in the easy detection of variations in products packaged inside containers and bottles.

For instance, in 2022, the PQRenew brand of recycled bottle flake and resins, which is a distinctive product line pushing sustainability solutions, was legally trademarked by PolyQuest, Inc.

High durability, wide utilization in food and non-food applications and the low processing costs associated with clear recycled PET flakes led to the growth of Global Recycled PET Flakes market in the projected years.

However, rapid industrialization and economic expansion resulted in the drastic growth in municipal solid waste due to a lack of waste management alternatives and ineffective waste policy implementation. These are the major challenges for governments to materialize a sustainable solid waste management framework, and there is no proper framework for plastic waste management at the moment. Along with this, the lack of standardized recycling technology could result in inconsistent quality and performance of recycled PET flakes. This could deter end-users from using recycled PET flakes and limit their market penetration. In addition, mechanical recycling weakens used plastic over time and may cause discoloration because it involves washing, shredding, and melting the material (yellowing). The lower mechanical strength of recycled PET is made up for during both the recycling process and use phase by adding virgin PET as well as the presence of impurities in the recycling feedstock, making it difficult to maintain color consistency between batches, which is a factor that restrains the growth of the market. Moreover, Virgin PET is cheaper than recycled PET flakes, primarily due to the cost of raw materials. The price competition with virgin PET could make recycled PET flakes less attractive to end-users, particularly in price-sensitive markets as well as the availability of alternative sustainable materials, such as bioplastics, paper, and glass due to their high sustainability credentials. This factor may slow down market growth.

For instance, the UN Environment Programme estimates that seven billion tonnes of plastic waste generated globally so far, of which less than 10% has been recycled.

Recent Developments

  • By investing in new extrusion equipment to make pellets in its facility in Bowling Green, Phoenix Technologies International LLC., in September 2022, enhanced the quantity of food-grade recycled PET Flakes.
  • In July 2022, Evergreen Together, an American recycled PET manufacturer company, completed the expansion of a new production plant in Clyde, Ohio.
  • In May 2022, an Australian supermarket chain, Clones, designed a shopping bag made of 80% recycled plastic & 20% marine waste plastic.
  • Indorama Ventures, in June 2021, purchased the Texas factory of CarbonLite Holdings.


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Market Segmentation

Global Recycled Polyethylene Terephthalate Market is segmented based on product, end use, and region. Based on product, the market is split into clear & colored. Based on end use, the market is fragmented into fiber, sheet & film, food & beverage bottles & containers, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Company Profiles

Polyvim LLC, Gravita India Ltd., JB Ecotex Limited, Plastipak Industries Inc., Clear Path Recycling LLC., Indorama Ventures Public Company Limited., Verdeco Recycling Inc., Loop Industries, Inc., PolyQuest, Inc., EvergreenTogether     are some of the key players of Global Recycled PET Flakes Market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, Volume in Metric Tonnes, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

          Product

       End Use

Regional scope

North America, Europe, Asia Pacific, South America, Middle East & Africa

Country scope

United States, Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, Sweden, China, India, South Korea, Japan, Vietnam, Hong Kong, Brazil, Argentina, South Africa, Saudi Arabia, UAE

Key companies profiled

Polyvim LLC, Gravita India Ltd., JB Ecotex Limited, Plastipak Industries Inc., Clear Path Recycling LLC., Indorama Ventures Public Company Limited., Verdeco Recycling Inc., Loop Industries, Inc., PolyQuest, Inc., EvergreenTogether

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Report Scope:

In this report, global recycled polyethylene terephthalate market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

  • Recycled Polyethylene Terephthalate Market, By Product:
    • Clear
    • Colored
  • Recycled Polyethylene Terephthalate Market, By End Use:
    • Fiber
    • Sheet & Film
    • Food & Beverage Bottles & Containers
    • Others
  • Recycled Polyethylene Terephthalate Market, By Region:
    • North America
      • United States
      • Mexico
      • Canada
    • Europe
      • France
      • Germany
      • United Kingdom
      • Spain
      • Italy
      • Sweden
    • Asia-Pacific
      • China
      • India
      • South Korea
      • Japan
      • Vietnam
      • Hong Kong
    • South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the global Recycled PET Flakes market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Recycled Polyethylene Terephthalate (PET) Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Recycled PET Flakes Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value & Volume

5.2.  Market Share & Forecast

5.2.1.    By Product (Clear, Colored)

5.2.2.    By End Use (Fiber, Sheet & Film, Food & Beverage Bottles & Containers, Others)

5.2.3.    By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)

5.2.4.    By Company (2022)

5.3.  Market Map

5.3.1.    By Product

5.3.2.    By End Use

5.3.3.    By Region

6.    North America Recycled PET Flakes Market Outlook

6.1.  Market Size & Forecast       

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Product

6.2.2.    By End Use

6.2.3.    By Country

6.3.  Pricing Analysis

6.4.  North America: Country Analysis

6.4.1.    United States Recycled PET Flakes Market Outlook

6.4.1.1.        Market Size & Forecast

6.4.1.1.1.           By Value & Volume

6.4.1.2.        Market Share & Forecast

6.4.1.2.1.           By Product

6.4.1.2.2.           By End Use

6.4.2.    Mexico Recycled PET Flakes Market Outlook

6.4.2.1.        Market Size & Forecast

6.4.2.1.1.           By Value & Volume

6.4.2.2.        Market Share & Forecast

6.4.2.2.1.           By Product

6.4.2.2.2.           By End Use

6.4.3.    Canada Recycled PET Flakes Market Outlook

6.4.3.1.        Market Size & Forecast

6.4.3.1.1.           By Value & Volume

6.4.3.2.        Market Share & Forecast

6.4.3.2.1.           By Product

6.4.3.2.2.           By End Use

7.    Europe Recycled PET Flakes Market Outlook

7.1.  Market Size & Forecast       

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Product

7.2.2.    By End Use

7.2.3.    By Country

7.3.  Pricing Analysis

7.4.  Europe: Country Analysis

7.4.1.    France Recycled PET Flakes Market Outlook

7.4.1.1.        Market Size & Forecast

7.4.1.1.1.           By Value & Volume

7.4.1.2.        Market Share & Forecast

7.4.1.2.1.           By Product

7.4.1.2.2.           By End Use

7.4.2.    Germany Recycled PET Flakes Market Outlook

7.4.2.1.        Market Size & Forecast

7.4.2.1.1.           By Value & Volume

7.4.2.2.        Market Share & Forecast

7.4.2.2.1.           By Product

7.4.2.2.2.           By End Use

7.4.3.    United Kingdom Recycled PET Flakes Market Outlook

7.4.3.1.        Market Size & Forecast

7.4.3.1.1.           By Value & Volume

7.4.3.2.        Market Share & Forecast

7.4.3.2.1.           By Product

7.4.3.2.2.           By End Use

7.4.4.    Spain Recycled PET Flakes Market Outlook

7.4.4.1.        Market Size & Forecast

7.4.4.1.1.           By Value & Volume

7.4.4.2.        Market Share & Forecast

7.4.4.2.1.           By Product

7.4.4.2.2.           By End Use

7.4.5.    Italy Recycled PET Flakes Market Outlook

7.4.5.1.        Market Size & Forecast

7.4.5.1.1.           By Value & Volume

7.4.5.2.        Market Share & Forecast

7.4.5.2.1.           By Product

7.4.5.2.2.           By End Use

7.4.6.    Sweden Recycled PET Flakes Market Outlook

7.4.6.1.        Market Size & Forecast

7.4.6.1.1.           By Value & Volume

7.4.6.2.        Market Share & Forecast

7.4.6.2.1.           By Product

7.4.6.2.2.           By End Use

8.    Asia-Pacific Recycled PET Flakes Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Product

8.2.2.    By End Use

8.2.3.    By Country

8.3.  Pricing Analysis

8.4.  Asia-Pacific: Country Analysis

8.4.1.    China Recycled PET Flakes Market Outlook

8.4.1.1.        Market Size & Forecast

8.4.1.1.1.           By Value & Volume

8.4.1.2.        Market Share & Forecast

8.4.1.2.1.           By Product

8.4.1.2.2.           By End Use

8.4.2.    India Recycled PET Flakes Market Outlook

8.4.2.1.        Market Size & Forecast

8.4.2.1.1.           By Value & Volume

8.4.2.2.        Market Share & Forecast

8.4.2.2.1.           By Product

8.4.2.2.2.           By End Use

8.4.3.    South Korea Recycled PET Flakes Market Outlook

8.4.3.1.        Market Size & Forecast

8.4.3.1.1.           By Value & Volume

8.4.3.2.        Market Share & Forecast

8.4.3.2.1.           By Product

8.4.3.2.2.           By End Use

8.4.4.    Japan Recycled PET Flakes Market Outlook

8.4.4.1.        Market Size & Forecast

8.4.4.1.1.           By Value & Volume

8.4.4.2.        Market Share & Forecast

8.4.4.2.1.           By Product

8.4.4.2.2.           By End Use

8.4.5.    Vietnam Recycled PET Flakes Market Outlook

8.4.5.1.        Market Size & Forecast

8.4.5.1.1.           By Value & Volume

8.4.5.2.        Market Share & Forecast

8.4.5.2.1.           By Product

8.4.5.2.2.           By End Use

8.4.6.    Hong Kong Recycled PET Flakes Market Outlook

8.4.6.1.        Market Size & Forecast

8.4.6.1.1.           By Value & Volume

8.4.6.2.        Market Share & Forecast

8.4.6.2.1.           By Product

8.4.6.2.2.           By End Use

9.    South America Recycled PET Flakes Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Product

9.2.2.    By End Use

9.2.3.    By Country

9.3.  Pricing Analysis

9.4.  South America: Country Analysis

9.4.1.    Brazil Recycled PET Flakes Market Outlook

9.4.1.1.        Market Size & Forecast

9.4.1.1.1.           By Value & Volume

9.4.1.2.        Market Share & Forecast

9.4.1.2.1.           By Product

9.4.1.2.2.           By End Use

9.4.2.    Argentina Recycled PET Flakes Market Outlook

9.4.2.1.        Market Size & Forecast

9.4.2.1.1.           By Value & Volume

9.4.2.2.        Market Share & Forecast

9.4.2.2.1.           By Product

9.4.2.2.2.           By End Use

10. Middle East and Africa Recycled PET Flakes Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value & Volume

10.2.             Market Share & Forecast

10.2.1. By Product

10.2.2. By End Use

10.2.3. By Country

10.3.             Pricing Analysis

10.4.             MEA: Country Analysis

10.4.1. South Africa Recycled PET Flakes Market Outlook

10.4.1.1.     Market Size & Forecast

10.4.1.1.1.         By Value & Volume

10.4.1.2.     Market Share & Forecast

10.4.1.2.1.         By Product

10.4.1.2.2.         By End Use

10.4.2. Saudi Arabia Recycled PET Flakes Market Outlook

10.4.2.1.     Market Size & Forecast

10.4.2.1.1.         By Value & Volume

10.4.2.2.     Market Share & Forecast

10.4.2.2.1.         By Product

10.4.2.2.2.         By End Use

10.4.3. UAE Recycled PET Flakes Market Outlook

10.4.3.1.     Market Size & Forecast

10.4.3.1.1.         By Value & Volume

10.4.3.2.     Market Share & Forecast

10.4.3.2.1.         By Product

10.4.3.2.2.         By End Use

11. Market Dynamics

11.1.             Drivers

11.1.1. Increasing Demand from Textile Industry

11.1.2. Rising demand from the food & beverage industry

11.1.3. Stringent laws and regulations by governments

11.2.             Challenges

11.2.1. Fluctuation in Raw Material Prices

11.2.2. Lack of an appropriate structure for plastic waste management

12. Market Trends & Developments

12.1.             Product Launches

12.2.             Mergers & Acquisitions

12.3.             Technological Advancements

13. Global Recycled PET Flakes Market: SWOT Analysis

14. Porter’s Five Forces Analysis

14.1.             Competition in the Industry

14.2.             Potential of New Entrants

14.3.             Power of Suppliers

14.4.             Power of Customers

14.5.             Threat of Substitute Products

15. Competitive Landscape

15.1.             Business Overview

15.2.             Product Offerings

15.3.             Recent Developments

15.4.             Financials (In Case of Listed Companies)

15.5.             Key Personnel

15.6.             SWOT Analysis

15.6.1. Polyvim LLC

15.6.2. Gravita India Ltd.

15.6.3. JB Ecotex Limited

15.6.4. Plastipak Industries Inc.

15.6.5. Clear Path Recycling LLC.

15.6.6. Indorama Ventures Public Company Limited.

15.6.7. Verdeco Recycling Inc.

15.6.8. Loop Industries, Inc.

15.6.9. PolyQuest, Inc.

15.6.10.  EvergreenTogether

16. Strategic Recommendations

Figures and Tables

Frequently asked questions

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PET is the most common plastic for single use bottled drinks because it's lightweight and easy to recycle. The recycled grade PET also possesses similar characteristics to that of virgin PET.

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The growing shift towards sustainability and adoption of alternative packaging options are factors expected to drive the growth for Global Recycled PET Flakes Market.

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Asia Pacific is expected to dominate the global recycled polyethylene terephthalate market during the forecast period on account of initiatives to improve the circular economy in the region.

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Polyvim LLC, Gravita India Ltd., JB Ecotex Limited, Plastipak Industries Inc., Clear Path Recycling LLC., Indorama Ventures Public Company Limited., Verdeco Recycling Inc., Loop Industries, Inc., PolyQuest, Inc., EvergreenTogether are some of the key players of Global Recycled PET Flakes Market.

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Sakshi Bajaal

Business Consultant
Press Release

Recycled PET Flakes Market to be Dominated by Textile Sector through 2028

Apr, 2023

Growing demand from Textile sector is expected to drive Global Recycled PET Flakes market in the forecast period 2024-2028.

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