Mar 11, 2020, 10:30 ET
LOS ANGELES, March 11, 2020 /PRNewswire/ -- The global recycled polyethylene terephthalate (rPET) market is estimated to reach value of around USD 12.5 bn by 2026.
The recycled polyethylene terephthalate (rPET) market is anticipated to spectator a CAGR of 8.0% through the estimated years 2019 to 2026.
The most commonly recycled plastics in the world is recycled polyethylene terephthalate known as rPET. The recycling rate in the U.S. was near about 31% in 2012 and 53% in the European Union, according to PETRA, the PET Resin Association. In 2016, the rate of recycling in the U.S. was below 29%. In 2015, approximately 1.8 billion pounds of PET were recycled for a variety of final products. The Environmental Protection Agency (EPA) reports 1% of urban solid waste to be transferred to PET containers in the U.S.
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In 2018, Asia Pacific was the top contributor to generate revenue in the rPET market. By 2026, it will be the largest regional market. A significant amount of skilled labor at low cost and land availability is the main characteristic for the regional market. The transition to emerging economies in the production landscape, especially China and India, is expected to have a positive effect on growth. Increasing revenue per capita, combined with growing FMCG industries, leads to the growth of the regional market.
In the coming years, the recycled polyethylene terephthalate market in Latin America is expected to grow significantly. The main factors driving regional demand are increasing demand for food and non-food bottles in a large number of end-use industries and improving economic conditions. Increasing revenue per capita, combined with growing FMCG industries, leads to the growth of the regional market.
The need to rPET in food-processed products, such as new drinking containers, is increasingly recognized by companies. Coca Cola plans to use rPET in its containers for 50% by 2030. The supply of PET products for postconsumer use is a challenge. In recent years, the recovery rate in the U.S. has remained flat or declining. Lower material production by curbside recycling programs has intensified this situation, which, in turn, is related to the decreasing popularity of carbonated drinks, and the trend to the design of light bottles.
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In view of the ongoing shift to recyclable plastic packaging and other environmentally friendly technologies, the global market for rPET packaging is expected to grow. In a number of instances, local supermarket chains have decided to use rPET for several products sold in their shops. Manufacturers have changed their production industry to boost their purification capability for PET waste and rPET rolling stock production. This is further down the value chain adapted to rPET packaging formats. In general, rPET packaging consists of more than 30% recycled post-consumer waste and is the ideal solution for any company that wants to be environmentally friendly. The high printability of rPET also increases the chances of adopting rPET packaging. For high quality rPET packaging printing a number of printing techniques can be used. rPET packaging should gain more traction due to stringent regulation of the plastic packaging industry. In addition, emerging technology packaging such as MAP (Modified Air Packaging) includes outstanding barrier properties that prevent gas entry and exit. rPET packaging has an advantage over other packaging solutions, such as polypropylene and HIPS, as rPET is superior.
There are a number of other interesting things to know about recycling PET:
- The Environmental Protection Agency (EPA) estimates that only one pound of PET is saved by recycling 12,000 BTU (approximately).
- Landfills received 26.8 million tons of plastic in 2017. This represented 19.2% of the entire municipal solid waste (MSW).
- Custom bottles are 62% of all rPET bottles, which are not used for carbonated soft drinks.
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