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Showing posts with the label Recycled Polyethylene Terephthalate Industry

Recycled Polyethylene Terephthalate Market Development Status, Trending Technologies, Competition Analysis, Type and Application by 2028

  Recycled Polyethylene Terephthalate Industry Overview The global recycled polyethylene terephthalate market size was valued at USD 8.56 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028. The market growth is primarily driven by changing consumer behavior towards sustainability. In addition, a ban on landfills introduced in several developed countries in North America and Europe is likely to drive the product demand over the forecast period. The primary factor driving Recycled Polyethylene Terephthalate (rPET) demand in North America is its broad application scope in several key application industries, such as FMCG, consumer goods, clothing & textile, and automotive. Various government initiatives regarding the recycling of plastics coupled with high investments have resulted in a decent rPET market in the region. Despite significant investments, most post-consumer PET bottles are majorly exported to Southeas...