Recycled PET (r-PET) Bottles Market: Key Highlights
- The global recycled PET (r-PET) bottles market was valued at ~ US$ 2 Bn in 2018, and is anticipated to expand at a CAGR of ~ 8% from 2019 to 2027.
- The global r-PET bottles market is driven by the rise in the demand for recycled PET bottles in the packaging industry.
- In terms of value, the market in Asia Pacific is expected to expand at a CAGR of ~ 9% during the forecast period. China is a major producer of r-PET bottles in Asia Pacific.
Major Drivers of the Recycled PET (r-PET) Bottles Market
- The demand for recycled PET bottles has been increasing due to the implementation of stringent regulations on the usage of plastic products.
- The recycled PET bottles market is also driven by the rise in the consumption of packaged drinking water across the globe. The demand for packaged drinking water has been increasing, owing to the rise in the inclination of people toward clean and safe drinking water.
High Demand for r-PET Bottles for Food Grade
- In terms of grade, the food segment is expected to account for a prominent share of the global recycled PET bottles market during the forecast period. Recycled PET bottles are primarily used in the packaging of food and beverages. These comprise bottles for water, juice, and dairy products.
- The non-food segment holds a low share of the global r-PET bottles market. Non-food grade recycled PET bottles include bottles that are used for the packaging of household cleaning liquids, dishwashing liquids, and cosmetics.
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High Production Cost to Hamper Recycled PET (r-PET) Bottles Market
- The technology used for the production of recycled PET bottles is not yet well developed, as the price associated with the manufacturing of r-PET bottles is high. Furthermore, the separation of clear, colored, and mixed bottles is a tedious task. The contamination of the post-consumer waste bottles is also high.
- Technical issues such as difficulty in separation of clear and colored bottles is hampering the recycled PET bottles market. The separation process is time consuming and requires a large labor force. The sorting and recycling of PET bottles does not provide the same quality as virgin PET bottles. These factors are expected to hamper the global recycled PET bottles market in the near future.
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Asia Pacific a Prominent Recycled PET (r-PET) Bottles Market
- Based on region, the global recycled PET bottles market has been divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In terms of production, Asia Pacific holds a substantial share of the global r-PET bottles market, due to the presence of key consuming countries such as China, India, and Japan, in the region.
- China leads in terms of production and consumption of recycled PET bottles in Asia Pacific. Based on grade, the food segment held a prominent share of the recycled PET bottles market in Asia Pacific in 2018.
- The presence of rapidly expanding economies such as India and China is estimated to create lucrative opportunities for the r-PET bottles market in Asia Pacific in the near future.
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Significant Share of Top Three Players in 2018
- Major players operating in the global recycled PET bottles market engage in product development and company acquisitions. These include ALPLA Werke Alwin Lehner GmbH & Co KG, Indorama Ventures Public Company Limited, and Phoenix Technologies International, LLC. These players accounted for ~ 35% share of the global r-PET bottles market in 2018.
- ALPLA Werke Alwin Lehner GmbH & Co KG led the recycled PET bottles market in 2018. However, Indorama Ventures Public Company Limited is expected to dominate the global recycled PET bottles market in the near future, with the acquisition of Sorepla Industrie S.A., a plastic recycler based in France.