About Recycled Polyethylene Terephthalate
Polyethylene terephthalate, commonly known as PET, is a plastic resin and a variant of polyester. It can be effectively recycled, transforming it into recycled polyethylene terephthalate, or rPET. Essentially, PET is a polymer created by combining refined terephthalic acid and modified ethylene glycol, both of which are monomers. PET is widely favored for its exceptional qualities, including transparency, thermal stability, remarkable durability, lightweight nature, affordability, shatter resistance, resealability, and, most notably, recyclability
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The competitive landscape of recycled polyethylene terephthalate (rPET) encompasses various players operating in the recycling and sustainable packaging sector. Major companies involved in rPET production, which often have the resources and infrastructure for large-scale recycling operations. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Placon (United States), Verdeco Recycling (United States), Indorama Ventures Public (Thailand), M.G. Chemicals (Canada), PolyQuest (United States), Evergreen Plastics (United States), Libolon (Taiwan), Zhejiang Anshun Pettechs Fiber Co. Ltd (China) and Haiyan Haili Green Fiber Co., Ltd(China) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Recycled Polyethylene Terephthalate market by Type (Clear and Colored), Application (Fiber, Sheet and film, Strapping, Containers & Bottle and Others) and Region.
On the basis of geography, the market of Recycled Polyethylene Terephthalate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Recently, Consumers have been seeking products and packaging that are made from recycled materials, which has created a strong market pull for rPET-based products
Market Growth Drivers:
Rising Demand for Recycled Polyethylene Terephthalate from the food and beverage sector
Challenges:
The presence of impurities and contaminants in recycled PET can make it less suitable for high-quality applications
Restraints:
Lack of the necessary infrastructure for collecting and segregating plastic waste.
Opportunities:
Stimulating interest in eco-friendly packaging solutions.
Market Leaders and their expansionary development strategies
In 2020, the CUDOS Group, a European investment fund, acquired Verdeco. Under new leadership and with ambitious objectives, Studio Quiche rebranded Verdeco within the market to gain a competitive edge over their rivals.
In 2019, Alpek purchased a PET recycling facility in Richmond, Indiana, USA, boasting a production capacity of 45,000 metric tons per year. This acquisition is part of the company's strategy to enhance its fiber PET recycling operations in North Carolina and establish a food-grade PET recycling plant in Argentina.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.