Top Applications of the Recycled Polyethylene Terephthalate Market

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Top Applications of the Recycled PET Market
In 2021, global plastics production reached
approximately 390.7 million metric tons, a 4
yearly growth. High consumption results in 300
million tons of plastic waste yearly, with about
60 disposed of in landfills. Companies are
thus upgrading product lines using recycled
PET to address concerns about the toxic effects
of plastic waste. Our estimates suggest that the
global recycled polyethylene terephthalate
market is anticipated to advance with a
CAGR of 7.05 during the forecast period
2022-2028.
Widening rPET Applications An Eco-friendly
Pathway 1. The food beverage category holds
major shares in the application segment owing to
the rise in drink consumption and
bottle-to-bottle production. Clear rPET is a
major product type that has gained prominence
among manufacturers that prefer clear granules to
develop containers. As per estimates, a larger
beverage consumer base has compelled players to
employ recycled plastics to gain a competitive
edge, especially in the Asia-Pacific. For
instance, in 2019, the Coca-Cola Company
attained 88 recycled plastic use in its
packaging.
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• Recycled PET has gained significant prominence in
  producing fiber for application across multiple
  industries, including clothing and automotive.
  The categorys growth is driven by the low cost
  of clothing and favorable government measures. In
  this regard, colored rPET is a widely used
  product type for clothing such as sports Jerseys.
  In recent years, the fiber in the nonwoven,
  filling, and spinning sectors has soared,
  which has increased rPET consumption,
  especially across Europe and the Asia-Pacific.
• Rising food consumption and construction in
  the Asia-Pacific, Latin America, and the
  Middle East supports the demand for
  recycled PET in sheet film applications.
  Microwave-safe containers are mainly paving the
  way for this segments growth. Besides, rPET
  sheets and films in roof flooring have proven to
  effectively limit leakage and support roofs
  during high temperatures. The increased use
  of sheets in packaging non-food products for
  exports is another trend in the segment.
• Growth Prospects Stringent Government Measures
• Increasing concerns about plastic pollution have
  encouraged governments to impose restrictions on
  petro-based plastic. Besides, using non-recycled
  packaging products has attracted heavy taxes,
  which is expected to incentivize the production
  of recycled PET. Government bodies have levied
  high landfill tipping fees and dumping tariffs,
  which further elevates the demand for sustainable
  products. Estimates suggest recycling one ton of
  plastic can save around 7.5 cubic yards of
  landfill space.
• Thus, in retrospect, the growing adoption of
  reprocessed plastics across sectors is expected
  to open lucrative opportunities for the global
  recycled polyethylene terephthalate market.
• FAQs
• Q1) Who are the popular players in the recycled
  PET market?
• Biffa, Carbonlite Industries, Clear Path
  Recycling LLC, DuFor, and Evergreen Plastics Inc
  are among the popular players in the recycled PET
  market.

Q2) Which are the key application areas of
rPET? The key application areas of rPET include
fiber, FB, non-food bottles containers, sheet
film, and strapping.