Market Research Future (MRFR)’s latest study reveals that the worldwide recycled polyethylene terephthalate (RPET) market is poised to register a CAGR of 8.5% during the forecast period 2018 to 2027. In terms of revenue, the market is projected to grow from USD 6,572.9 Mn in 2017 to USD 10,666.2 Mn by 2027-end. the expansion of the market is very hooked in to the polyethylene terephthalate (PET) market. The recycling rate of PET is predicted to enhance over subsequent few years, thus, augmenting the recycled polyethylene terephthalate market. In terms of volume, the worldwide recycled polyethylene terephthalate market is prognosticated to succeed in over 11 KT by the top of 2027 up from 7,684.3 KT in 2017. However, 20-22% loss is incurred during the manufacturing process which remains an impediment to the market expansion.
The demand for RPET fiber within the textile industry is anticipated to witness an upsurge because it shows no qualitative degradation after several recycling sessions. the expansion of the textile industry is poised to spice up the expansion of recycled polyethylene terephthalate market through the review period. Additionally, the extensive use of RPET within the food & beverage sector for packaging has intensified the market proliferation. Increase in working population, and income has led to a shift towards ready-to-eat and packaged food products which is driving the demand for RPET.
Global Market for Recycled Polyethylene Terephthalate-Segmental Analysis:
MRFR’s report offers an in depth segmental analysis of the market supported type and application. By type, the market has been segmented into clear and colored. Among these, the clear segment holds a serious share of the market because the colored RPET has got to undergo a process that degrades its quality. The clear segment was valued at USD 4,203.6 Mn in 2017 and is predicted to succeed in a worth over USD 6 Mn by the top of 2027. The increasing demand from the packaging industry is probably going to drive the expansion of the clear segment within the forthcoming years.
By application, the market is predicated on fiber, sheet & film, strapping, food grade bottles & containers, non-food grade bottles & containers, et al. The fiber segment accounts for the utmost share of the market and is predicted to exhibit healthy growth over subsequent few years. Its growth are often ascribed to the extensive use of polyester in textile manufacturing.
Global Market for Recycled Polyethylene Terephthalate-Competitive Dashboard:
Some of the key players profiled in the report include Placon, Clear Path Recycling, Verdeco Recycling Inc., Indorama Ventures Public Company Limited, Zhejiang Anshun Pettechs Fiber Co., Ltd, PolyQuest, Evergreen Plastics, Montello S.p.A., Phoenix Technologies, M&G Chemicals, and LIBOLON
Complete Report Details @ https://www.marketresearchfuture.com/reports/recycled-polyethylene-terephthalate-market-5812
By region, the global Recycled Polyethylene Terephthalate Market has been segmented into North America, Europe, Asia Pacific, Latin America , and therefore the Middle East & Africa. Asia Pacific currently accounts for 56% share of the market and is estimated to strike a comparatively higher CAGR. The high recycling rate in Asian countries, especially China, Japan, and India are projected to accelerate revenue creation for the market players. as an example , consistent with a study published by National Chemical Laboratory (NCL), India recycles 90% of its polyethylene terephthalate, trailed by Japan which recycles 72% of its polyethylene terephthalate. India resonates strong growth opportunities and is emerging as an investment-centric market thanks to intensified textile production.
Europe is that the second largest marketplace for recycled polyethylene terephthalate and is forecasted to stay a highly lucrative market within the forthcoming years. Germany is that the most promising country-level market and is estimated to succeed in a worth of USD 510.8 Mn towards the top of the assessment period. the expansion of Germany’s market are often ascribed to the extensive production and export of textiles. Additionally, the initiatives undertaken by the ecu Union (EU) for plastic waste recycling has further boosted the market growth within the region. The trend is probably going to perpetuate during the projection period.
North America is a crucial growth pocket thanks to the presence of established plastic industry within the U.S. Meanwhile; Latin America accounted for 9.9% share of the worldwide market. The factor driving the expansion of the regional market include economic reforms in favor of industrialization in Brazil. aside from Brazil, Mexico and Argentina are projected to FAVOR the proliferation of the regional market.
The Middle East & Africa holds the smallest amount share of the worldwide market due to lack of awareness regarding recycling. However, increasing consumption of plastic including increasing awareness about the advantages of plastic recycling has opened avenues of growth opportunities within the regional market.
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