The
Global Recycled
Polyethylene Terephthalate (PET) Market is expected to foresee an explosive growth by the year 2028. “Recycled
Polyethylene Terephthalate (PET) has found its application packaging of food
& beverage, pharmaceuticals, cosmetics, and electronics attributed to its
versatile properties of resisting infestation of bacteria and fungi.”
Financial
assistance in the form of granted subsidies and tax exemptions across the
countries of India, China, Japan, and Korea is enormously surging the market
proliferation. Recycled polyethylene terephthalate market has curbed usual
trends of virgin resin amid green initiatives, which is driving its growing
demand. Also, the latest developments in manufacturing fabric materials and
clothing using recycled polyethylene terephthalate (PET) is positively
demonstrated a paradigm shift over the conventional technologies to boost the
industry growth over a future course.
The
market presents a detailed depiction of the end-use segment which comprises
fiber, strapping, sheet and film, food & beverage containers & bottle,
pharmaceuticals, non-food containers & bottle, and others. Based on
product, the recycled polyethylene terephthalate (PET) industry has been
classified into clear and colored types.
The
comprehensive overview of the recycled polyethylene terephthalate (PET) market
has identified North America, Latin America, the Middle East & Africa,
Europe and the Asia Pacific as the key regions. The government has undertaken
several monitory checks to meet the wastewater regulatory limits by recycled
polyester makers. Increasing incidences of R-PET flaking during the winter
period in Europe has registered lower demand and diminished sales volume
throughout these months. The expanding consumer goods sector and the rising
disposable income in developing countries of Asia Pacific has accounted for
this region as the fastest growing in the forthcoming years.
The
competitive landscape showcases the profiles and business strategies of the
major players, along with their recent developments. Some of the dominant
players operating in this market include Libolon, Zhejiang Anshun Pettechs
Fibre Co. Ltd, Ecostar Plastics (Placon), Polyquest, Zhejiang Anshun Pettechs
Fibre Co. Ltd, and Haiyan Haili Green Fiber Co., Ltd among others.
The
altering market dynamics can be attributed to major merger and acquisition
activities, collaborations and joint ventures amongst the industry competitors.
The emerging companies have identified raw material suppliers, buyers, research
investors and distributors of the recycled polyethylene terephthalate market.
Standardization
initiatives, such as those championed by the Consortium for Automotive
Recycling (CARE) and Waste and Resources Action Programme (WRAP) in the United
Kingdom has broadly encouraged the purchase of recycled products and has gained
confidence in waste management. Increasing charges for landfill or waste
disposal and the deposit-fund systems in Germany has revolutionized several
other types of plastic packaging waste disposal regulations and has illustrated
an introduction of recycled polyethylene terephthalate (PET) packaging onto
retailer’s shelves.
Market Segment:
Leading players of Recycled Polyethylene
Terephthalate (PET) including:
•
Placon
•
Clear Path Recycling
•
Verdeco Recycling
•
Indorama Ventures Public
•
M.G. Chemicals
•
PolyQuest
•
Evergreen Plastics
•
Libolon
•
Zhejiang Anshun Pettechs Fiber Co. Ltd
•
Haiyan Haili Green Fiber Co., Ltd
Market split by Application, can be
divided into:
•
Fiber
•
Sheet and film
•
Strapping
•
Containers & Bottle
•
Others
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