The global recycled PET flakes market size is expected to reach USD 25.47 billion by 2032, according to a new study by Polaris Market Research. The report “Recycled PET Flakes Market Share, Size, Trends, Industry Analysis Report, By Product (Clear, Colored), By End-use (Fiber, Sheet & Film, Strapping, Food And beverage bottles & containers); By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The packaging industry and all end-use segments have been increasing demand for recycled PET flakes and these are important drivers for market growth. FMCG companies are implementing plans to use more recycle PET food and beverage bottles and containers for packaging. PET flakes are also used, packaging of goods including soaps, surfactants, shampoos, and other personal care items, because of to its non-reactive nature.
The booming food & beverage industry in various parts of the world are expected to become a major driving force for the market over the forecast period, given increased domestic consumption. The manufacture is more focused on used of recycle PET flakes due to the strict regulation against used of non- degradable plastic. Consumers are increasingly aware of the environmental problems associated with plastics have accelerated research and policy development that accelerated the customer toward used of recycled PET flakes.
Europe is boosting the market growth due to they have strict regulation against environment safety, euro barometer survey regularly monitoring attitude toward environment. The market growth is especially due to adoption of recycle PET flakes in automobile industries. Europe PET bottles market is driven by the surging adoption of advanced technologies such as PET melt filtration, blow molding, injection molding.
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Manufacturers in the recycled PET industry are investing more in research and development (R&D) for novel recycling methods that combine glycolysis-based PET depolymerization with particular purification stages meant to remove organic and inorganic chemicals from waste PET. Due to this process purified BHET monomer is created, which can be used to create fibers and food-grade resins.
Recycled PET Flakes Market Report Highlights
Polaris Market Research has segmented the recycled PET flakes market report based on product, end use, and region:
Recycled PET Flakes, Product Outlook (Revenue - USD Billion, 2019 - 2032)
Recycled PET Flakes, End Use Outlook (Revenue - USD Billion, 2019 - 2032)
Recycled PET Flakes, Regional Outlook (Revenue - USD Billion, 2019 - 2032)