Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Recycled Polyethylene Terephthalate Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global recycled polyethylene terephthalate (rPET) market is witnessing significant growth, fueled by technological innovations and an upsurge in demand for sustainable packaging solutions. A comprehensive market research report on the recycled polyethylene terephthalate industry, encapsulating an in-depth analysis of global market size, regional shares, and market segments, has been added to our extensive collection of industry research publications.
This detailed publication offers valuable insights into the current trends and future projections for the thriving rPET market, unveiling the industry's continuous evolution. With a focus on sustainability and resource efficiency, the report sheds light on the increasing use of rPET across various industry sectors, including packaging, automotive, construction, and many more.
The market report highlights the impressive growth trajectory of the rPET market, which is expected to leap from $9.89 billion in 2023 to $10.84 billion in 2024, marking a compound annual growth rate (CAGR) of 9.6%. The market's strong performance is attributed to the rising demand for recycled materials as the global community embraces environmental stewardship.
Key Market Drivers and Trends:
- Sustainable Packaging Solutions: The push towards eco-friendly packaging among major FMCG brands is escalating the demand for rPET materials.
- E-commerce Industry: The burgeoning e-commerce sector has catalyzed the need for sustainable packaging, further boosting the rPET market growth.
- Technological Innovations: Cutting-edge advancements, such as the XTREME Renew process and LiquiGlide technology, are enhancing the quality and efficiency of the rPET production process.
- Global Brand Initiatives: Leading brands are setting ambitious sustainability goals, increasing the integration of rPET in their product packaging.
The market analysis delves into the accelerating growth within the Asia-Pacific region, with this area standing out as the largest and fastest-growing in the rPET market. Major companies are considerably expanding their operations and adopting strategic initiatives, such as acquisitions and facility expansions, to cater to the intensifying demand for rPET materials.
With a forward-looking approach, this market research report provides an extensive forecast through to 2028, indicating a potential growth to $15.6 billion at a CAGR of 9.5%. The predictions pinpoint a future underscored by innovative rPET solutions, uptake in various industrial applications, and a rising emphasis on circular economy practices.
This comprehensive research report serves as a vital tool for stakeholders in the industry, providing a macro and micro view of the rPET market dynamics, regulatory landscapes, and emerging opportunities. It reflects an invaluable resource for informed decision-making and strategic planning for businesses looking to invest, expand or adapt within the rPET market landscape.
The market report presents a complete skyline of the factors propelling the recycled polyethylene terephthalate market forward, making this an indispensable asset for industry participants, analysts, and investors seeking to comprehend and capitalize on the growth and profitability of the rPET market.
A selection of companies mentioned in this report includes
- Placon Corporation
- Antares Chem Private Limited
- BariQ Ltd.
- Clear Path Recycling LLC
- Evergreen Plastic Container Inc.
- Indorama Ventures Public Company Limited
- Lealea Enterprise Co. Ltd.
- M&G Chemicals S.A
- Montello Spa
- Phoenix Technologies Ltd.
- PolyQuest Inc.
- Verdeco Recycling Midwest Inc.
- Zhejiang Anshun Pettechs Fibre Co. Ltd.
- Alpek SAB de CV
- Cooperativa Central Aurora Alimentos Ltd.
- CarbonLite Industries LLC
- Denton Plastics Inc.
- Extrupet Pty Ltd.
- Loop Industries Inc.
- LyondellBasell Industries NV
- MFX do Brasil Equipamentos de Petróleo Ltd.
- Mohawk Industries Inc.
- PetStar Holding Company SA
- Plastipak Holdings Inc.
- Polindo Utama
- rPlanet Earth
- Starlinger & Co. GmbH
- The Coca-Cola Company
- UltrePET LLC
- Unifi Inc.
- Vanden Global Ltd.
- Verallia UK Ltd.
- Wellman Plastics Recycling LLC
For more information about this report visit https://www.researchandmarkets.com/r/dt8kss
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