Recycled PET Flakes Market Share, Size, Trends, Industry Analysis Report, By Product (Clear, Colored), By End-use (Fiber, Sheet & Film, Strapping, Food And beverage bottles & containers); By Region; Segment Forecast, 2023 - 2032
- Published Date:Feb-2023
- Pages: 119
- Format: pdf
- Report ID: PM3037
- Base Year: 2022
- Historical Data: 2019-2021
Report Summary
The global recycled PET flakes market was valued at USD 9.28 billion in 2022 and is expected to grow at a CAGR of 10.7% during the forecast period. The growing pressure from regulatory authorities and increasing industrialization of food sector and beverage industry are create demand for the recycled PET flakes. Now a days consumers are more conscious and aware about the items they use and how it affects the environment. There has been a significant change in consumer preference and purchasing behavior in last some years, with a noticeable rise in the number of consumers choosing sustainable and recyclable goods.
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Recycled polyethylene terephthalate flakes are used to make fibers for a variety of textiles and parts for automobiles including seat covers, couch and chair covers, carpets. In upcoming years recycled PET flakes market are grow with highest CAGR because the use of recycled PET flakes in manufacturing of electric vehicles due to its lighter weight. Making items from recycled PET is an environment friendly, method that uses roughly half the energy and emits less CO2.
According to the Swiss Climate report recycled, PET is more environmentally benign than PET, which has a more effective and superior ecological balance than glass. Compared to other alternatives, it uses less energy to manufacture. Additionally, it is incredibly robust, lightweight, and long-lasting, so less packaging is required to safeguard our goods. Less fuel is required for transportation when the packing is lighter, which reduces carbon emissions.
Governments have imposed strict regulations, such as China's landfill ban and ban on plastic garbage on the import, which are creating new revenue prospects for businesses in the recycled plastics industry. Many region like Europe, ban on single used plastic product to eliminate pollution. Food and beverage producers have a high need for food grade recycle PET flakes for packaging a variety of foods and ingredients, including salad dressings and cooking oils, among others.
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Industry Dynamics
Growth Drivers
Increasing Awareness About Recycle PET Flakes & Sustainability:-
Consumer views toward plastic trash are changing, and consumer movement is being fueled by this increased awareness. As society grows more aware of and aggressive in its attempts to eliminate plastic waste, recycling rates are rising.
Additionally, as consumers become more conscious of sustainability, there is a growing demand for recyclable packaging to promote a circular economy focused on recycling and reuse. The increasing consumer awareness about recycle PET flakes are influence the player who need more packaging material, such as large international beverage and fast-moving consumer goods firms employ as much recycled material as they can in their plastic packaging. Such type of factor is driving the market in study period.
Report Segmentation
The market is primarily segmented based on product, end use, and region.
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By Product |
By End Use |
By Region |
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Clear segment is expected to witness fastest growth
In 2022, Clear segment is expected highest growth rate during study period. Clear recycled PET flakes demand is anticipated to remain consistent over the study period due to factors such as ease of bottle-to-bottle recycling, reduced carbon footprint, and low energy usage during remanufacturing. Recycle product are more demanded in FMCG, Personal care, Pharmaceuticals and cosmetic.
Clear recycled PET flakes used in mostly food grad product that’s why Most producers prefer using clear recycled polyethylene terephthalate flakes rather than opaque or colored flakes to create containers and bottles. The one of the main reasons behind growth of clear flakes segment is, this make it simple to spot changes in items that are placed inside of bottles and containers. Also the low processing cost for clear recycle PET flakes as compare to color.
Moreover, color recycled PET flakes are used for product and brand differentiation and give a different look to package goods. But colored flakes have limited market, manufacture are mostly prefer green color flakes to produce many color such as Orange, purple, red or brown are removed to minimize completion with green color flakes.
Non-food bottles & containers accounted for the largest market share in 2022
Depending on the intended usage, important benefits of recycle PET flakes, like lower manufacturing or material costs, user-friendly features like precise content dosing by pressure on flexible containers and high recycling capabilities, along with beautiful look in the finished product. Similar to the beverage industry, the transition to PET packaging for domestic items, cosmetics and personal care products, cleaning products, and chemicals.
Fiber segment is grown at fastest rate, owing to its used in manufacturing of carpets, blankets, clothing, and other textile applications. Fiber is made up of two method which are chemical and physical, chemical method product are value added. In addition, favorable government rules and the low production costs of textile made from recycled PET flakes are anticipated to increase demand for the PET flakes fiber globally.
Asia Pacific is dominate the revenue share
In 2022, Asia Pacific is account for the largest revenue share and expected to maintain its dominance over the study period. The dominance owing to presence of major food and beverage industries in Asia pacific region also increased recycled investment in these regions. China is the largest producer of recycled PET flakes and Japan is one of the Asia pacific countries which have more regulation towards used of food grade recycled PET flakes. The customer awareness and acceptance of food grad recycled Pet in Asia pacific are propel the market growth.
Europe is expected to steady revenue growth during the study period. The Europe market are boosting due to the rapid adaption of food contact recycled PET flakes material. Innovative packaging is one of the key factors for market growth of food grad material. Sometimes the cost of dumping in Europe is exceeds the cost of recycling PET to make flakes. This promotes plastic waste collection and recycling programs in Europe region.
Competitive Insight
Some of the major players operating in the global market include Clear Path Recycling, Verde co Recycling, Indorama Ventures Public, Poly Quest, Biffa, GSM Plastic, RCS Entsorgung, TOMRA System, Polyvim, Veolia Umweltservice, AMAANI POLYFLAKES, Pashupati Polytex, AlEn USA, RAHSAM, LANGGENG JAYA GROUP, Evergreen Plastics.
Recent Developments
In Dec 2022, The Coca-Cola teamed up with Mark Ronson & Madlib, introduced “Recycled Records”.
In Dec 2022, Tupperware & the National Park Foundation, announced the partnership to reduce waste across the National Park System. Through this partnership they reduced single use plastic waste by installing water bottle refill stations, recycling and composting infrastructure, and informative signs.
Recycled PET Flakes Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 10.24 billion |
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Revenue forecast in 2032 |
USD 25.47 billion |
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CAGR |
10.7% from 2023 - 2032 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Product, By End Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Clear Path Recycling, Verde co Recycling, Indorama Ventures Public, Poly Quest, Biffa, GSM Plastic, RCS Entsorgung, TOMRA System, Polyvim, Veolia Umweltservice, AMAANI POLYFLAKES, Pashupati Polytex, AlEn USA, RAHSAM, LANGGENG JAYA GROUP, Evergreen Plastics |
FAQ's
The global recycled PET flakes market size is expected to reach USD 25.47 billion by 2032.
Top market players in the market are Clear Path Recycling, Verde co Recycling, Indorama Ventures Public, Poly Quest, Biffa, GSM Plastic, RCS Entsorgung, TOMRA System, Polyvim, Veolia Umweltservice, AMAANI POLYFLAKES, Pashupati Polytex, AlEn USA, RAHSAM.
Asia Pacific contribute notably towards the global recycled PET flakes market.
The global recycled PET flakes market expected to grow at a CAGR of 10.7% during the forecast period.
The recycled PET flakes market report covering key segments are product, end use, and region.
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