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Recycled PET (r-PET) Market to Reach USD 4.32 Billion by 2028, Exhibit a CAGR of 7.89%. – Introspective market Research

Global Recycled PET (r-PET) Bottles Market Overview

Recycled PET (r-PET)PET is used as a basic substance for the manufacturing of packaging materials. This PET material, which has been already applied for the packaging of food and non-food products is used for the production of bottles with the help of the recycling process is called Recycled PET (r-PET) bottles. In terms of type, recycled PET (r-PET) bottles are generally categorized into two types such as clear and colored. In addition, two types of methods that are used in the recycling process are mechanical and chemical. The mechanical recycling method is mainly used for PET recycling, whereas the chemical recycling method is still in the phase of development. Furthermore, the circular economy is of great interest for consumers, legislative bodies, and industry similar to allow sustainable growth.

Read more:  https://introspectivemarketresearch.com/reports/recycled-pet-r-pet-bottles-market/

In addition, plastic packaging has been focused in the European Union with significance on recycling. Polyethylene terephthalate (PET) is observed to be the most promising food-packaging plastic for recycling and is being used widely. For instance, in 2018, about 4.3 million tons of rigid PET packaging were placed on the European market (EU28+2) of which an estimated 79% were bottles and the remainder trays. Of this, about 1.9 million tons (45%) were collected. In Europe, PET beverage bottles are composed through a combination of deposit return schemes (DRS) and separate collections. DRS records for about 35% of collected PET bottles and the average collection rate for PET bottles in 2018 was 58.2%. Given losses within the sorting process, an estimated 52% of PET bottles are sent for recycling which helps to increase the growth of the market over the forecast period.

Recycled PET (r-PET) Bottles Market size is projected to reach USD 4.32 Billion by 2028 from an estimated USD 2.54 Billion in 2021, growing at a CAGR of 7.89% globally.

Players Covered in Recycled PET (r-PET) Bottles Market are:

  • Phoenix Technologies International LLC.
  • PolyQuest
  • Verdeco Recycling
  • Portage Plastics
  • AL Mehtab Industries
  • UMA SCHREIBGERÄTE ULLMANN GMBH
  • Peninsula Plastics Recycling
  • ALPLA
  • Bantam Materials
  • Carbonlite Industries LLC
  • Clean Tech U.K. Ltd
  • Clear Path Recycling LLC
  • DuFor
  • Evergreen Plastics Inc.
  • Indorama Ventures
  • Libolon
  • Marglen Industries
  • PLACON Corporation
  • UltrePET
  • Unifi Inc. and other major players.

Regional Analysis for COVID-19 Outbreak-Global Recycled PET (r-PET) Bottles Market:

  • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
  • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
  • North America (U.S., Canada, and Mexico)
  • South America (Brazil, Chile, Argentina, Rest of South America)
  • MEA (Saudi Arabia, UAE, South Africa)
Global Recycled PET (r-PET) Bottles Market
Base Year: 2021 Forecast Period: 2022-2028
Historical Data: 2016 to 2020 Market Size in 2021: USD 2.54 Bn.
Forecast Period 2022-28 CAGR: 7.89% Market Size in 2028: USD 4.32 Bn.
Segments Covered: By Product Type
  • Pet Straps
  • Pet Staple Fiber
  • Pet Sheets or Films
By Source
  • Post-Consumer Pet
  • Post-Industrial Pet
By Application
  • Mono-Filaments
  • Packaging
  • Industrial Yarn
  • Strapping
  • Building Materials
By Region
  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)
Key Market Drivers:
  • Governments of Various Economies Have Forced A Ban on The Application of Plastic Products
Key Market Restraints:
  • Launching of Bio-Based Plastics
Key Opportunities:
  • The Bottle-To-Bottle Recycling Approach Is Being Extensively Utilized by FMCG Giants Due to Their Determined Sustainable Goals
Companies Covered in the report:
  • Phoenix Technologies International LLC., PolyQuest, Verdeco Recycling, Portage Plastics, AL Mehtab Industries, and Other major players.

Key Industry Developments in the Recycled PET (r-PET) Bottles Market

  • In May 2021, Clean Tech’s parent company Plastikpak declared investment in one of its production sites based in Toledo, Spain. The investment is focused on growing its R-PET production capacity in Europe.
  • In June 2021, Indorama Ventures announced the accession of CarbonLite Holdings’ facility in Texas. By this accession, the company aims at growing its footprint in North America along with rapidly augmenting its production capacity.
  • In March 2019, ALPLA Werke Alwin Lehner GmbH & Co KG and Fromm Holding AG declared their PET recycling joint venture – PET Recycling Team Wolfen GmbH – at the Wolfen location. Texplast, a subsidiary of FROMM Plastics GmbH, is probably to install a third expulsion line at the Wolfen location. The line is anticipated to start operations in May 2020.

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