Investments in Capacity Expansion by R-PET Manufacturers Identified as Key Approach to Gain Competitive Edge, Evaluates Fact.MR
Published : 24 Sep 2021 Industry: Chemical & Materials
A new R-PET industry analysis report by Fact.MR anticipates the market to be valued at US$ 1.9 Bn in 2021, and is projected to expand at a CAGR of around 8% during the period 2021-2031.
Further, Fact.MR, a market research and competitive intelligence provider, estimates the market to surpass a valuation of US$ 4.2 Bn by 2031-end. This growth can be mainly attributed to the adoption of the circular economy business model among manufacturers, thus propelling recycled PET demand.
Additionally, major investments in terms of capacity expansion can be seen carried out by market players responding to surge in demand for recycled PETs. Key players such as Indorama Ventures, Carbonlite Industries, and ALPLA are focusing majorly on expansion of their production capacities in high-growth regions such as Asia Pacific, North America, and Europe.
Key Takeaways from Market Study
- Post-consumer PET, under source type, is projected to provide an absolute $ opportunity worth US$ 2.15 Bn during the forecast period.
- Based on colour, clear R-PETs is projected to rise at a higher CAGR of around 8.1% over the decade.
- On the basis of product type, consumption of flakes is anticipated to expand around 2.1X by 2031.
- East Asia is projected to capture around 32% global market share by 2031.
- South Asia & Oceania is slated to provide an absolute $ opportunity worth US$ 309.3 Mn by 2031-end.
“Recyclers and producers of R-PET should opt for a collaborative approach with key FMCG players to replace virgin plastic usage in the food & beverage segment,” says a Fact.MR analyst.
Focusing on high-growth regions has been identified as a fruitful strategy for key recyclers and producers. Additionally, channelizing strategic focus to deliver products as per industry needs has helped players garner more share and generate higher sales.
Moreover, collaboration with FMCG giants over the coming period will help R-PET producers expand their business portfolios and improve recycling rates.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the R-PET market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of source (post-consumer PET and post-industrial PET), colour (clear and coloured), product type (flakes, resins and fibers), end-use (packaging[food & beverages, pharma products, personal care products, others], non-packaging[sportswear, shoes, home textiles, industrial textiles, strapping, others] and across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
About the Chemicals and Material Divisions at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant – Chemicals & Materials