Clear recycled polyethylene terephthalate (rPET) was the largest product type in the worldwide rPET industry in 2019. It is anticipated to retain its position through 2026due to high need for bottles and sheets. The segment is extensively used in multiple applications for instance, in manufacture of resins and fibers.
Growing need for rPET in the non-food sector is also projected to advantage the development of the industry over the prediction period. Increasing concerns concerning sustainability of natural resources in emerging countries of North America and Europe are expected to intensify the need for the product over the prediction period.
Spiralling need for food and non-food bottles across a large numeral of end-use businesses and improving financial conditions are the main factors fuelling the need for rPET in Latin America. Growing per capita income, paired with increasing FMCG market, is helping the industry flourish in the region.
Fiber was the leading end-use segment in the worldwide recycled PET industry. It registers for 44.81% of the industry volume in 2019. High need from the FMCG, automobiles, consumer goods, clothing & accessories, telecom, textile, and home furnishing sectors is contributing to the development of the industry. Fiber is mainly used in making cushions, mattresses, insulation products and car seating.
Asia Pacific was the significant income contributor in 2019. It is composed to be the largest regional industry through 2026. APAC is characterized by obtain ability of a important amount of skilled labour at low cost and easy accessibility of land. Drift in production landscape towards developing economies, predominantly India and China, is expected to optimistically influence the development of the market over the estimated period.
Growing bottle-to-bottle production and thriving beverages industry in Asia Pacific are projected to drive the recycled polyethylene terephthalate (rPET) market over the prediction period. rPET packaging for food & beverages delivers environmental impact resistance and thermal insulation. The packaging also shows to be pocket friendly due to low cost involved in its production. Growing population in developing countries of Latin America and Asia Pacific is possible to gear up the demand for recycled polyethylene terephthalate (rPET) bottles and containers.
The clear rPET segment is leading the industry in 2019. It is projected to show a CAGR of 7.2% in terms of value during the prediction period. This type is the most extensively recycled PET due to the vast usage of clear PET bottles worldwide.
The development of the coloured segment is mainly driven on account of its outstanding strength and durability. The base of few non- food containers and food containers produced from coloured rPET delivers structural strength that aids in storing goods for a long time. These containers offer structural strength paired with lightness and flexibility, when used for packaging purposes.