Recycled PET Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Source (Bottles & Containers, Films & Sheets, and Others); Application (Fibers, Sheets & Film, Strapping, Bottles & Containers, and Others); and Region and Country
Detailed Analysis of COVID-19 Impact on the Recycled PET Market
The global recycled plastics market is likely to showcase a growth of around 7% during the forecast period. Global plastic production reached 460 million tons (Mt) in 2019, which has doubled from 234 Mt in 2000, showcasing a rapid increase in demand owing to population growth and higher incomes. In addition, during the same period, plastic waste generation has increased by 197 Mt surpassing the growth of plastic production. As a result, increasing the concern among the environmental bodies to control the production and use of primary plastic, hence promoting the use of recycled plastic. PET is one of the most widely used plastics today used in a range of industries including packaging foods and beverages especially convenience-sized soft drinks, juices, and water. Furthermore, it is completely recyclable and is the most recycled plastic worldwide. Moreover, companies across the globe are making efforts to promote sustainability thereby opting for a circular economy model, thus promoting the global plastic recycling business including recycled PET. For instance, in December 2020, PepsiCo Inc. announced that the company has set the target to eliminate all virgin plastic from its Pepsi brand beverage bottles sold in nine European Union markets by 2022. The company will package the entire range of beverages under that brand with plastics recycled from post-consumer packaging (recycled PET).
Insights Presented in the Report
“Amongst source, bottles & containers held a prominent share in the market in 2020”
Based on the source, the market is categorized into bottles & containers, films & sheets, and others. Among these, bottles & containers captured a dominating position in the market owing to the wide usage of PET-based packaging materials in the food & beverage and non-food industries. This can be attributed to the fact that it is food safe, strong, lightweight, transparent, shatter-resistant, and provides additional properties like desired barrier properties.
“Amongst applications, fibers accounted for a significant share in 2020”
Based on application, the market is categorized into fibers, sheets & film, strapping, bottles & containers, and others. Among these, fibers accounted for a significant market share and is expected to maintain its position during the forecast period. This can be ascribed to the wide adoption of recycled fibers as a filling material for cushions and pillows and converted to fabrics for use in clothing, upholstery, etc. Moreover, in several countries recycled PET is not allowed to use for food & beverage packaging thus limiting the application area.
“Asia-Pacific accounted for a considerable share in the global recycled plastics market”
For a better understanding of the market adoption of recycled PET, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a significant share of the market and is expected to showcase substantial growth during the forecast period owing to the high consumption of PET-based products in the regional country and high recycling rates in countries like China, India, and Japan. Further, several western countries dump their PET waste in the regional countries for recycling purposes, thereby propelling the recycled PET market in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive country-level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Recycled PET Market|
|2.2.||Research Methodology of the Recycled PET Market|
|2.5.||Main Objective of the Recycled PET Market Study|
|5||GLOBAL RECYCLED PET MARKET COVID-19 IMPACT|
|6||GLOBAL RECYCLED PET MARKET REVENUE (USD MN), 2019-2027F|
|7.1.||Bottles & Containers|
|7.2.||Films & Sheets|
|8.2.||Sheet & Film|
|8.4.||Bottles & Containers|
|9.1.||North America Recycled PET Market|
|9.1.3.||Rest of North America|
|9.2.||Europe Recycled PET Market|
|9.2.6.||Rest of Europe|
|9.3.||Asia Pacific Recycled PET Market|
|9.3.5.||Rest of Asia Pacific|
|9.4.||Rest of World Recycled PET Market|
|11||RECYCLED PET MARKET OPPORTUNITIES|
|12||RECYCLED PET MARKET TRENDS|
|13.1.||Demand Side Analysis|
|13.2.||Supply Side Analysis|
|14||VALUE CHAIN ANALYSIS|
|15.1.||Porters Fiver Forces Analysis|
|15.1.1.||Bargaining Power of Buyer|
|15.1.2.||Bargaining Power of Supplier|
|15.1.3.||Intensity of Rivalry|
|15.1.4.||Threats of New Entrant|
|15.1.5.||Threat of Substitute|
|16.1.||Indorama Ventures Public Company Limited|
|16.3.||Far Eastern New Century Corporation|
|16.4.||Plastipak Packaging Inc.|
|16.5.||Alpek S.A.B. de C.V.|
|16.7.||Loop Industries Inc.|
|16.10.||Reliance Industries Ltd.|
Research Methodology for Global Recycled Plastics Market Analysis (2019-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of recycled plastics, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the recycled plastics industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of recycled plastics through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the recycled plastics market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by source and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of Recycled Plastics globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Recycled Plastics. Further, we conducted factor analysis using dependent and independent variables such as increasing focus on plastic recycling and high PET recycling rates. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the Recycled Plastics industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Recycled Plastics market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of recycled plastics across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the recycled plastics market. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Recycled Plastics market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of source and application.
The main objective of the Recycled Plastics market study
The current & future market trends of global Recycled Plastics were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Recycled Plastics in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segment in the study include the area of source and application
- Defined analysis of the regulatory framework for the recycled plastics industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of recycled plastics for the major countries
- Major regions/countries analyzed in the report include North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
- Company profiles of the recycled plastics market players and the growth strategies adopted by them to sustain in the growing market
- Deep dive country-level analysis of the industry