In a recently published report, Global Recycled Polyethylene Terephthalate Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Recycled Polyethylene Terephthalate Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Recycled Polyethylene Terephthalate Market is valued approximately at USD 8.56 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2021-2027. Recycled Polyethylene Terephthalate is also referred as the Recycled PET or rPET. It is a synthetic compound developed from used PET products. The global Recycled Polyethylene Terephthalate market is being driven by increasing use of rPET in the packaging of food and non-food related products. Furthermore, the growing ban on plastics by the certain countries, favorable government initiatives will provide growth for the global Recycled Polyethylene Terephthalate industry. For instance, in 2017, Kenya government banned single-use plastic bags and in 2020 prohibited its visitors from taking single-use plastics such as water bottles and disposable plates into national parks, forests, beaches, and conservation areas. Also, according to the weforum.org, more than 170 nations have pledged to “significantly reduce” use of plastic by 2030. However, unsystematic & informal plastic disposals and export-import of plastic waste may impede market growth over the forecast period of 2021-2027. Also, with its increasing use in the road construction and concrete formation along with the setting up of organized recycling channels the adoption & demand for Recycled Polyethylene Terephthalate is likely to increase.
Asia-Pacific is considered to be the dominant and fastest growing region among the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. This growth can be attributed to growing end-use industries and affordable skilled labor force has stimulated product demand in the region.
Major market player included in this report are:
Clear Path Recycling LLC
Verdeco Recycling, Inc.
Zhejiang Anshun Pettechs Fibre Co., Ltd.
Evergreen Plastics, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Sheet & Film
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Recycled Polyethylene Terephthalate Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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