Recycled PET market to near $11bn by 2025 – Recycled PET market - Archive

The global recycled PET market is expected to reach $10.8 billion by 2025, as a result of changing end-user perception towards sustainable sourcing of bottling materials and the ban of landfills in European nations, says a report by Grand View Research in the US.

Bottling companies are gradually adopting recycled PET in order to establish sustainable material sourcing strategies, with consumers in North America and Europe said to be prepared to pay a premium for green materials.

Claims the report, global recycled PET demand was 8.4 million tonnes in 2016 and is expected to grow at a CAGR of 6.9 per cent from 2017 to 2025. Clear resins emerged as the dominant product segment and this is expected to generate revenue worth $8.1 billion by 2025.

Asia Pacific accounted for nearly 50 per cent of global revenue in 2016 and is expected to grow at a CAGR of 5.8 per cent over the forecast period. China and India are key demand hubs in the region with textile, electronics and automotive applications being dominant.

Fibre was the largest end-use segment in 2016 and is expected to achieve a high growth rate over the forecast period. Fibre is widely used in the textile, home furnishings, and automobile sector. The global recycled PET demand in the fibre segment was $2.51bn in 2015.

The US achieved a 30 per cent recycling rate for PET bottles in 2015.

Major players including Ecostar Plastics, Verdeco Recycling, Indorama Ventures and M&G Chemicals dominated the recycled PET industry in terms of volume in 2015.