The global recycled polyethylene terephthalate market size is anticipated to reach USD 13.32 billion by 2027, according to a new study by Grand View Research, Inc., progressing at a CAGR of 7.9% during the forecast period. Booming beverage industry in Asia Pacific countries such as China, India, Japan, South Korea, Vietnam, and Philippines has been stimulating the growth of the rPET market.

Recycled PET, also termed as rPET, is a synthetic compound prepared from used PET products, which finds application in a wide range of end-use industries. The resins are produced from post-consumer PET bottle flakes and are one of the most stable forms of recycled PET.

Clear recycled PET was the largest product type in the global rPET market in 2019. It is expected to retain its position over the forecast period, owing to high demand for bottles and sheets. Clear recycled PET is widely used in multiple applications, such as the production of resins and fibers.

Increasing demand for recycled polyethylene terephthalate in the non-food sector is also estimated to drive the growth over the forecast period. Rising concerns regarding sustainability of natural resources in developing economies of North America and Europe are likely to escalate the product demand over the forecast period.

Rising focus on developing manufacturing units in Asia Pacific countries, such as China, India, Vietnam, Indonesia, and Thailand, is poised to augur well for the market in near future. The non-food containers and bottles end-use segment is projected to expand at a CAGR of 7.9% over the forecast period.

Further key findings from the repot suggest:

  • In terms of revenue, Asia Pacific dominated the overall recycled Polyethylene Terephthalate (rPET) market. It is anticipated to exhibit a CAGR of 8.7% over the forecast period
  • The clear product segment held the leading revenue share of the recycled polyethylene terephthalate market in 2019
  • The food and beverage containers and bottles segment is estimated to post the highest CAGR of 8.3% in terms of revenue over the forecast period
  • North America is expected to witness a CAGR of 8.2% over the forecast period, owing to broad application scope of the product in several key end-use industries, such as FMCG, consumer goods, clothing and textile, and automobile