Recycled PET Flakes Market Size, Share & Trends Analysis Report By Product (Clear, Colored), By End-use (Fiber, Sheet & Film, Strapping, Food And Beverage Bottles & Containers), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global recycled PET flakes market size was valued at USD 9.22 billion in 2022 and  anticipated to expand at a compound annual growth rate (CAGR) of 10.9% from 2023 to 2030. The growth of this industry can be attributed to the consolidated development of food & beverages, household appliances, and personal care products sub-segments. Recycled polyethylene terephthalate  flakes  used in fibers for the production of various types of clothing such as t-shirts and jackets. They  additionally used in the manufacturing of automobile seat covers, sofa & chair covers, carpets, etc. The low production costs of clothing developed from recycled polyethylene terephthalate  flakes  expected to drive demand for the rPET flakes across the world.

The recycled PET flakes market in the U.S.  expected  to witness significant growth during   coming years, due to the rising demand for electric vehicles in the U.S. This anticipated augmenting the requirement for lightweight and durable plastic components to enhance their efficiency.

Companies such as ALLIANCE FIBRES LTD., Sorema, Circularix, and Macquarie Group Limited are some of the potential customers of recycled polyethylene terephthalate  flakes in the country. In addition, rising demand for the electric vehicles in the U.S.  anticipated augmenting requirement for the lightweight and durable plastic components to enhance their efficiency.

Several key market players have into strategic mergers & acquisitions, joint ventures, and new product development to expand their market presence in the global market. In the past few years, the joint venture is an integral part of the recycled polyethylene terephthalate  flakes industry that allows market players to strengthen their market position, globally.

For instance, in October 2022, in collaboration with Coca-Cola, Indorama Ventures built a polyethylene terephthalate (PET) recycling facility in the Philippines as a part of the Coca-Cola Company's World without Waste Campaign aiming to collect and recycle the equivalent of every bottle sold by 2030.

End-use Insights

Non-food bottles & containers dominated the global rPET flakes market and accounted for more than 27.0% of the total market share, in terms of revenue, in 2022. Increasing spending on the commissioning of manufacturing units, particularly in Asia Pacific, expected to surge the demand for recycled polyethylene terephthalate  flakes used for developing non-food bottles & containers.

The establishment of bottled water manufacturing plants with state-of-the-art technologies and the boom in tourism activities, especially in Asia Pacific, are the factors expected  to propel demand for the bottled water, thereby fueling the consumption of recycled polyethylene terephthalate  flakes for developing food and beverage bottles & containers.

Furthermore, the low production costs of clothing developed from recycled polyethylene terephthalate  flakes and the favorable government regulations  expected to drive demand for the recycled polyethylene terephthalate  flakes across the world. Increasing investments in sports activities, globally, are augmenting growth of the sports clothing & accessories market.

Product Insights

Clear recycled PET flakes dominated the application segment and accounted for more than 76.02% of the total market share, in terms of revenue, in 2022.This segment of the market  expected  to witness high growth in the coming years owing to the increased durability of clear recycled polyethylene terephthalate  flakes.

Moreover, these lightweight and non-reactive flakes are shatterproof. They possess properties that resist the growth of fungi, mold, and bacteria. Clear recycled polyethylene terephthalate  flakes  majorly used in the packaging of food products, beverages, cosmetics, pharmaceuticals, and electronic goods.

Clear recycled polyethylene terephthalate  flakes  used in various applications owing to their widespread utilization in food and non-food applications and the low processing costs associated with them. Most manufacturers prefer clear recycled polyethylene terephthalate  flakes to produce containers and bottles than opaque or colored recycled polyethylene terephthalate  flakes.

In addition, clear flakes help in the easy detection of variations in products packaged inside containers and bottles. These factors  anticipated to drive demand for the clear recycled polyethylene terephthalate  flakes during  the forecast period.

Moreover, the product gaining prominence among various global End-use industries such as food & beverages, textiles, and consumer goods owing to their ability to add a striking visual to products. In addition, colored packaging products help in brand differentiation and impart a unique look to packaged goods.

Regional Insights

Asia Pacific dominated the recycled PET flakes market in 2022 and accounted for more than 30.16% share of the overall market revenue, owing to the easy availability of low-cost skilled labor at a large scale. The region also has abundant land.  Shift in the global production landscape toward emerging economies of Asia Pacific, including China and India, is expected to  influence the growth of Recycled PET Flakes Market, positively, in the region during the forecast period.

The recycled polyethylene terephthalate (rPET) flakes market players  expected to operate at large operating margins to create future expansions depending on the growing demand. For instance, in November 2020, Indorama Ventures Public Ltd. established a new recycling facility in Verdun, France, along with carrying out the expansion of its two facilities in Bielsko-Biala and Leczyca in Poland.

As landfill taxes in some countries in Europe are extremely high, the cost of dumping sometimes is more than the cost of recycling PET for manufacturing flakes. This encourages the involvement of the masses in the collection and recycling of plastics in the region.

In addition, the surging demand for electric vehicles in Europe  anticipated creating lucrative opportunities for the growth of recycled PET flakes market in the region, during the forecast period. According to the International Council on Clean Transportation, the sales of approximately 2.3 million electric vehicles registered in Europe during 2021.

Furthermore, the growing investments by the Government of Canada in the recycling industry are fueling growth of the Recycled PET Flakes Market in the country. Canada has a decent rate for PET bottle collection, which, in turn, promotes the market growth.

Key Companies & Market Share Insights

Due to the increasing demand for the production of recycled polyethylene terephthalate flakes for various end-uses including fiber, food and beverage bottles & containers, key manufacturers are developing new polymers for the production of recycled PET flakes.

The key global companies  expected to develop their product offerings to North America, Asia Pacific, the Middle East & Africa, and Central & South America, owing to the market demand in these regions, given the expansion of the recycled PET flakes market.Some of the prominent players in global recycled PET flakes market include:

• Clear Path Recycling LLC

• Verde co Recycling

• Indorama Ventures Public Ltd.

• PolyQuest

• Evergreen Plastics, Inc.

• Biffa

• GSM Plastic Industries

• RCS Entsorgung GmbH

• TOMRA System ASA

• Polyvim LLC

• Veolia Umweltservice GmbH

• AMAANI POLYFLAKES

• Pashupati Polytex Pvt. Ltd.

• AlEn USA

• RAHSAM Co.

• LANGGENG JAYA GROUP

Recycled PET Flakes Market Report Scope

Global Recycled PET Flakes Market Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels along with 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 global recycled PET flakes market report based on the 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 & Film

  • Strapping

  • Food & beverage bottles & containers

  • Non-food bottles & containers

  • Others

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

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • GCC Countries

    • South Africa