Market for Recycled PET will reach $11.7 billion by 2026

According to a new market research report, the “Recycled PET Market by Type (Flakes, Chips), Grade (Grade A, Grade B), Source (Bottles & Containers, Films & sheets), Application ( Bottles, fiber, Sheets, Strapping), and Region (APAC, North America, Europe, MEA, South America)- Global Forecast to 2026″, size is expected to grow from USD 8.9 billion in 2021 to USD 11.7 billion by 2026, at a CAGR of 5.7% during the forecast period.  Thedriving factors for the recycled PET market is increasing penetration of recycled PET in the bottles, sheets, fiber and other applications throughout the world. An increasing trend in terms of collection, domestic recycling, recovery of PET, export of PET waste, and implementation of legislative regulations has been witnessed in the market for RPET. These activities have contributed significantly to the growth in demand for RPET in various applications such as food & beverage bottles, textile fiber, and strapping.

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This report also provides a comprehensive analysis of the companies listed below:

Indorama Ventures Public Limited (Thailand), Biffa (UK), Far Eastern New Century Corporation (Taiwan), Plastipak Holdings Inc (US), Alpek (Mexico), among others. are the leading recycled PET manufacturers, globally.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Recycled PET Market.

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Indorama Ventures Public Ltd. is one of the largest player in the recycled PET market. It is a world-class sustainable chemicals company with a global integrated lead in PET and fibers. It has integrated businesses which are aligned to create a sustainable value proposition. It is one of the world’s foremost-integrated producers in the polyester industry and the largest producer of PET. The company has 273 recycling facilities and 124 manufacturing sites all over world. It is present in Europe, North America, South America, APAC, and Africa.

Biffa is the second-largest player of the recycled PET market, globally. Biffa opened its new state-of-the-art PET plastic bottle recycling facility in Seaham, County Durham in 2020 The plant can convert 57,000 tons PET plastic per year, equivalent to 1.3 billion plastic bottles. PET, or polyethylene terephthalate, is a commonly used material for packaging soft drinks, as it is lightweight, durable, and highly recyclable, producing significantly lower carbon emissions than its alternatives.