Americas Recycled Polyethylene Terephthalate Market Size, Share & Trends Analysis Report By Product (Clear, Colored), By End-use (Fiber, Strapping), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The Americas recycled polyethylene terephthalate market size was valued at USD 2.70 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2030. The region has seen an increasing awareness and emphasis on environmental sustainability in recent years. As consumers and businesses become more conscious of the environmental impact of plastic waste, there has been a growing demand for eco-friendly solutions. The Americas region, consisting of North America and Central & South America, has seen a rise in recycling initiatives, government regulations, and corporate commitments to integrate recycled materials such as rPET in industries.

Additionally, the circular economy approach, where products are recycled and reused, has gained traction, further boosting the demand for rPET in packaging, textiles, and other applications. The focus on reducing plastic waste and promoting recycled materials in the Americas is driving the growth of the rPET market, contributing to a more sustainable and greener future for the region.

The United States has emerged as the dominating country in the Americas Recycled Polyethylene Terephthalate (rPET) market due to several key factors. Firstly, the U.S. has a well-established and advanced recycling infrastructure, which allows for efficient collection, sorting, and processing of post-consumer PET materials. This robust recycling system has facilitated the steady supply of rPET feedstock, supporting the growth of the rPET industry in the country.

The U.S. has witnessed a significant increase in environmental awareness and sustainability initiatives in recent years. Both consumers and businesses are becoming more conscious of the environmental impact of plastic waste, leading to a higher demand for eco-friendly and recycled products. As a result, many U.S. companies are increasingly incorporating rPET into their packaging and products to meet the growing demand for sustainable solutions.

Furthermore, the U.S. government's support for recycling and sustainability efforts has played a crucial role in boosting the rPET market. Through policies, incentives, and regulations, the government has encouraged the use of recycled materials like rPET and promoted a circular economy approach. This has created a favorable business environment for companies operating in the rPET segment, further solidifying the U.S.'s dominant position in the Americas recycled polyethylene terephthalate market.

End-use Insights

The fiber segment led the recycled polyethylene terephthalate market in the Americas with over 39% of the revenue share in 2022, as a result of its widespread applications and the growing demand for sustainable textiles. As consumers increasingly prioritize eco-friendly choices, the textile industry has been quick to respond by embracing recycled PET fiber as a viable solution. By utilizing post-consumer PET bottles and diverting them from landfills, the production of recycled PET fiber significantly reduces the environmental impact of the fashion and apparel sector.

The textile industry's adoption of recycled PET fiber is also driven by its versatility and performance characteristics. This fiber can be transformed into various textile products, ranging from activewear, sportswear, and outdoor gear, to home textiles like carpets and upholstery. It offers durability and resistance to moisture, and possesses properties like wrinkle resistance and quick drying, making it a practical choice for a wide range of applications. As a result, fashion designers, brands, and manufacturers have been increasingly incorporating recycled PET fiber into their product lines, meeting the growing consumer demand for sustainable and ethically conscious clothing options.

Moreover, the Americas' recycled PET fiber market's dominance is reinforced by the industry's commitment to circular economy principles. Recycling PET bottles to create fiber reduces the need for virgin polyester production, which, in turn, conserves energy and raw materials. This circular approach aligns with environmental goals and paves the way for a more sustainable future. As sustainable practices gain momentum, and consumers continue to seek out environmentally responsible products, the demand for recycled PET fiber is expected to remain robust, solidifying its position as the leading end-use segment in the region's recycled PET market.

Product Insights

The clear recycled polyethylene terephthalate (rPET) segment accounted for the largest share of over 64% of the regional revenue in 2022. Clear rPET holds the dominant position in the Americas' recycled PET market due to its widespread applications in the beverage industry. It is commonly used in producing water and soda bottles due to its transparent nature, allowing consumers to see the product inside, which is a crucial factor in influencing their purchasing decisions. This visibility not only enhances product appeal but also reassures consumers about content quality and safety, making it a preferred choice for manufacturers and consumers alike.

Moreover, rising environmental concerns have spurred the demand for sustainable packaging solutions. Clear rPET aligns perfectly with this growing eco-consciousness since it is made from recycled PET materials, reducing the reliance on virgin plastics and lowering the carbon footprint. As companies and consumers increasingly embrace sustainability as a core value, the demand for clear rPET has surged significantly, making it the dominating product segment in the regional market. Its recyclable nature and eco-friendliness make it a compelling choice, reflecting the changing preferences and values of consumers and driving the market's shift towards clear rPET.

Regional Insights

North America dominated the regional recycled polyethylene terephthalate market and accounted for more than 62% share of the revenue in 2022. The region has witnessed a significant shift towards sustainable practices and environmental consciousness, leading to a surge in demand for recycled PET products. Consumers and businesses alike are increasingly opting for eco-friendly packaging and materials, which has boosted the production and utilization of recycled PET in the region.

Additionally, North America boasts a well-established recycling infrastructure and a growing number of PET recycling facilities, facilitating the efficient collection & processing of PET waste, further boosting its position as a global leader in recycled PET production and revenue generation. The region's dominance is also underpinned by its strong commitment to sustainability initiatives and stringent regulations aimed at reducing plastic waste. Governments and industries in North America have been actively promoting recycling programs and investing in R&D to enhance the quality and applications of recycled PET.

Key Companies & Market Share Insights

The Americas market is significantly fragmented in nature owing to the presence of several manufacturers across the region. Companies operating in the Americas rPET market place a high emphasis on expanding their footprint to drive their revenues and increase market shares. Companies are expanding their services in North America and Latin America to cater to the rising demand for sustainable products over the forecast period.

For instance, in December 2022, Placon launched a new recycled polyethylene terephthalate (rPET)-made deli product line. Dubbed ‘Crystal Seal Cravings’, the deli product line is built using post-consumer rPET materials that will help meet sustainability goals. Cravings products are ideal for food items including veggies, cold deli, fresh-cut fruits, and more. Some prominent players in the Americas recycled polyethylene terephthalate market include:

• Indorama Ventures (USA) Inc.

• Clear Path Recycling LLC

• Plastipak Holdings, Inc.

• CarbonLite Industries LLC

• Verdeco Recycling Inc.

• Phoenix Technologies International LLC

• Envision Plastics Industries LLC

• Unifi Manufacturing Inc.

• DAK Americas LLC

• Global PET Resin, Inc.

• Custom Polymers PET, LLC

• Amcor Rigid Plastics USA, LLC

• Loop Industries, Inc.

Americas Recycled Polyethylene Terephthalate Market Report Scope

Americas Recycled Polyethylene Terephthalate Market Report Segmentation

This report forecasts revenue and volume growth at the regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the Americas recycled polyethylene terephthalate market report based on product, end-use, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Clear

  • Colored

• End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Fiber

  • Sheet and Film

  • Strapping

  • Food & Beverage Containers and Bottles

  • Non-Food Containers and Bottles

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Central & South America

    • Brazil

    • Argentina

    • Chile

    • Colombia

    • Paraguay