Summary

Recycled PET Market Size
The global recycled PET market size was valued at $11.77 billion in 2024 and is projected to reach $17.66 billion by 2030, growing at a CAGR of 7.0% during the forecast period.

Recycled PET Market Overview
Recycled PET (Polyethylene Terephthalate) refers to a material derived from post-consumer or post-industrial PET plastic waste that has undergone a recycling process to create new products. PET is commonly used in packaging for beverages, food, and personal care products due to its durability, clarity, and recyclability. Recycled PET, often denoted as rPET, involves collecting PET waste, such as bottles and containers, cleaning and shredding them, and then melting and processing the shredded material into pellets. These pellets can be used to manufacture various products, including new PET containers and packaging. Recycling PET helps reduce the amount of plastic waste in landfills and oceans, conserves natural resources, and reduces energy consumption compared to producing virgin PET. As environmental concerns and sustainability goals gain prominence globally, the use of recycled PET in packaging continues to grow, promoting a circular economy approach to plastic use.

Recycled PET Market Dynamics
• The recycled PET market is expected to witness significant growth in the future due to increasing consumer awareness and demand for sustainable packaging solutions, stringent regulations promoting recycling and reducing plastic waste, and the growing adoption of circular economy principles by businesses and industries.
• Additionally, technological advancements in recycling processes improving efficiency of rPET and the expansion of packaging applications beyond beverages to include food, personal care, and household products are the prominent factors driving the growth of the market.
• However, the volatility in prices of virgin PET resin and concerns over food safety are restraining the market growth.
• On the contrary, innovation in product packaging formats to maximize recycled content and the development of advanced recycling technologies are creating opportunities for market growth.

By Color, the Colored Segment Constitutes Immense Share with Recycled PETMarket
The colored segment holds a significant share within the recycled PETmarket owing to its increasing inclination in the production of fabrics & clothing and various packaging end-uses. Colored rPET offers an eco-friendly alternative for packaging applications where aesthetics and branding are crucial, such as in beverage bottles and personal care products. This segment responds to increasing consumer preference for sustainable packaging solutions that also maintain visual appeal. With advancements in recycling technologies, colored rPET can now be processed efficiently while retaining its color integrity, meeting stringent quality standards required by brand owners. Moreover, regulatory pressures and corporate sustainability goals propel the adoption of recycled materials, including colored rPET, as part of broader environmental commitments. As brands and consumers alike prioritize environmental responsibility and seek to reduce their carbon footprint, the colored rPET market continues to expand, offering a viable solution to meet both aesthetic and sustainability objectives in packaging design.

By Geography, Asia Pacific is Projected to Show Strong Presence in the Recycled PETMarket
The Asia Pacific is anticipated to show a robust presence during the forecast period due to the region's growing middle class and rising consumer awareness. This has led to a greater demand for eco-friendly products, including packaging made from recycled materials like rPET. Furthermore, global brands and multinational corporations operating in Asia Pacific are increasingly adopting sustainability goals and seeking suppliers that offer recycled packaging solutions to meet these commitments. As a result, there is a burgeoning market for rPET, supported by advancements in recycling technologies and investments in recycling infrastructure across the region. The combination of regulatory support, consumer demand for sustainable products, and corporate sustainability initiatives continues to drive the robust growth of the recycled PET market in Asia Pacific.
• According to the World Trade Organization, China announced its decision to halt the import of 24 types of waste, including five types of plastic citing environmental and health concerns. This policy shift redirected significant volumes of plastic waste to Southeast Asian countries, prompting recyclers in the country to relocate to these regions. Consequently, the ban is expected to adversely affect market growth in the country in the foreseeable future.

Key Target Audience:
• Recycling Companies
• PET Resin Manufacturers
• Packaging Manufacturers
• Brand Owners and Retailers
• Government and Regulatory Bodies
• Environmental Organizations
• Consumers and End-Users
• Research and Development Institutions
• Waste Management Companies

List of the Key Players Profiled in the Report Includes:
• Alpek
• Biffa
• Evergreen Plastics, Inc.
• Indorama Ventures Public Ltd.
• Placon
• Plastipak Holdings Inc
• PolyQuest
• Loop Industries Inc
• Extrupet PTY LTD
• Far Eastern New Century Corporation
• Phoenix Technologies
• Verdeco Recycling, Inc.

Recent Developments:
• In September 2023, Indorama Ventures announced an expansion of PET recycling capacity at its facility in Juiz de Fora, Minas Gerais, Brazil, from 9,000 tons to 25,000 tons per year.
• In April 2023, Biffa bolstered its PET recycling division by acquiring Esterpet Ltd, a PET recycling firm based in North Yorkshire. Additionally, on March 16, 2023, the company initiated a purchase agreement with Shuye Electronics Co. Ltd., a China-based firm, to start large-scale production of recycled PET materials in the Asia Pacific region. Research efforts aimed at developing novel materials with multifaceted properties are anticipated to see significant industry adoption in the upcoming years.

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type:
• Recycled PET Flakes
• Recycled PET Chips
• Recycled PET Resins

Market by, Grade:
• Grade A
• Grade B

Market by, Source:
• Bottles & Containers
• Films & Sheets
• Other Sources

Market by, Recycling Technique:
• Mechanical Recycling
• Feedstock Recycling
• Chemical Recycling

Market by, Color:
• Clear
• Colored

Market by, End User:
• Bottles
• Fiber
• Sheets
• Strapping
• Other End Users

Market by, Geography:
The recycled PET market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:
The report “Global Recycled PET Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

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Table of Contents

1 Market Introduction
1.1 Market Definition
1.2 Research Scope and Segmentation
1.3 Stakeholders
1.4 List of Abbreviations

2 Executive Summary

3 Research Methodology
3.1 Identification of Data
3.2 Data Analysis
3.3 Verification
3.4 Data Sources
3.5 Assumptions

4 Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.3 Market Opportunities
4.4 Market Challenges

5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market

6 Global Recycled PET Market by, Type
6.1 Overview
6.2 Recycled PET Flakes
6.3 Recycled PET Chips
6.4 Recycled PET Resins

7 Global Recycled PET Market by, Grade
7.1 Overview
7.2 Grade A
7.3 Grade B

8 Global Recycled PET Market by, Source
8.1 Overview
8.2 Bottles & Containers
8.3 Films & Sheets
8.4 Other Sources

9 Global Recycled PET Market by, Recycling Technique
9.1 Overview
9.2 Mechanical Recycling
9.3 Feedstock Recycling
9.4 Chemical Recycling

10 Global Recycled PET Market by, Color
10.1 Overview
10.2 Clear
10.3 Colored

11 Global Recycled PET Market by, End User
11.1 Overview
11.2 Bottles
11.2.1 Food and Beverage Bottles
11.2.2 Non-food Bottles
11.3 Fiber
11.4 Sheets
11.5 Strapping
11.6 Other End Users

12 Global Recycled PET Market by, Geography
12.1 Overview
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 France
12.3.3 UK
12.3.4 Italy
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 China
12.4.2 Japan
12.4.3 India
12.4.4 South Korea
12.4.5 Australia
12.4.6 New Zealand
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Brazil
12.5.2 Argentina
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 UAE
12.6.2 Saudi Arabia
12.6.3 Qatar
12.6.4 Iran
12.6.5 South Africa
12.6.6 Rest of Middle East & Africa

13 Key Developments

14 Company Profiling
14.1 Alpek
14.1.1 Business Overview
14.1.2 Product/Service Offering
14.1.3 Financial Overview
14.1.4 SWOT Analysis
14.1.5 Key Activities
14.2 Biffa
14.3 Evergreen Plastics, Inc.
14.4 Indorama Ventures Public Ltd.
14.5 Placon
14.6 Plastipak Holdings Inc
14.7 PolyQuest
14.8 Loop Industries Inc
14.9 Extrupet PTY LTD
14.10 Far Eastern New Century Corporation
14.11 Phoenix Technologies
14.12 Verdeco Recycling, Inc.