Report examines global rPET market

According to a report by Acumen Research and Consulting, a global provider of market research studies with a U.S. office in Los Angeles, the international recycled polyethylene terephthalate (rPET) industry is expected to exceed $12.5 billion by 2026 and the market is anticipated to display a compound annual growth rate (CAGR) of 8 percent from 2018 through 2026. The report, “Recycled Polyethylene Terephthalate (rPET) Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 – 2026,” notes that the market is being driven by a growing beverage market in Asia Pacific countries, such as Vietnam, China, South Korea, India, Japan and Philippines.

Clear rPET is the largest product type in the worldwide rPET industry. It is anticipated to retain its position through 2026 because of the need for bottles and sheets with recycled content. It also is used in the production of fibers.

Growing need for rPET in the nonfood sector also is projected to advantage the development of the industry over the prediction period. Increasing sustainability concerns in North America and Europe are expected to intensify the need for rPET through 2026.

Demand for food and nonfood bottles across a number of end-use businesses and improving financial conditions are the main factors propelling demand for rPET in Latin America, according to the report. Growing per capita income and increasing fast-moving consumer goods (FMCG) market are helping the industry flourish in the region.

Fiber was the leading end-use segment in the worldwide recycled rPET industry. It is expected to account for 44.81 percent of the industry volume in 2019, the report states. Demand from the FMCG, automobiles, consumer goods, clothing and accessories, telecom, textile and home furnishing sectors is contributing to the development of the industry.

In the report, the global rPET market has been classified by product, end use and region. Based on product, the global market for rPET is segmented into clear and colored. Based on end use, the market is segregated into fiber, sheet and film, strapping, food and beverage containers and bottles, nonfood containers and bottles and others. Regionally, the report looks at North America, Latin America, Europe, Middle East & Africa and Asia Pacific.

Asia Pacific (APAC) is expected to be a significant income contributor in 2019 and the largest regional industry through 2026, the report notes. APAC is characterized by its ability to access skilled labor at a low cost and easy accessibility of land.

Growing bottle-to-bottle production and a thriving beverage industry in APAC are projected to drive the rPET market through 2026.

The clear rPET segment leads the industry and its value is projected to show a CAGR of 7.2 percent through 2026, according to the report.

Companies featured in the report include Libolon, Placon, Phoenix Technologies, Clear Path Recycling LLC, Evergreen Plastics Inc., Verdeco Recycling Inc., PolyQuest, M&G Chemicals and Zhejiang Anshun Pettechs Fibre Co. Ltd.