Market Leader - Recycled PET Market
The global recycled PET market size is estimated 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 due to increasing emphasis on sustainability between the consumer and packaging products and increasing demand from the textile, food and beverage industry in emerging economies such as India, China, Thailand, Indonesia, countries in the Middle East, Brazil, and Argentina.
Indorama Venturers Public Limited ( Thailand), Biffa (UK), Far Eastern New Century Corporation (Taiwan), Plastipak Holding Inc. (US), Alpek (Mexico), PolyQuest (US), OCTAL (Oman), Loop Industries (Canada), Evergreen (US), PLACON (US) among others, are the leading recycled PET manufacturers, globally. These companies adopted new product launch, expansion, agreements & contracts and merger & acquisition, as their key growth strategies between 2016 and 2021 to earn a competitive advantage 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.
Related Reports:
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
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