Northbrook, IL -- (SBWIRE) -- 11/18/2021 -- The report "Recycled PET Market by Type (Flakes, Chips), Grade (Grade A, Grade B), Source (Bottles & Containers, Films & sheets), Application ( Bottles, fiber, Sheets, Strapping), and Region (APAC, North America, Europe, MEA, South America)- Global Forecast to 2026", size is expected to grow from USD 8.9 billion in 2021 to USD 11.7 billion by 2026, at a CAGR of 5.7% during the forecast period. Thedriving factors for the recycled PET market is increasing penetration of recycled PET in the bottles, sheets, fiber and other applications throughout the world. An increasing trend in terms of collection, domestic recycling, recovery of PET, export of PET waste, and implementation of legislative regulations has been witnessed in the market for RPET. These activities have contributed significantly to the growth in demand for RPET in various applications such as food & beverage bottles, textile fiber, and strapping.

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Bottles is expected to be the largest and fastest-growing application in the Recycled PET market during the forecast period.
Bottle is the largest and fastest-growing fastest-growing application segment in the recycled PET market. Increasing demand for RPET bottles in food & beverage packaging is driving the market. Growth of this segment is attributed to the rising demand for bottle to bottle recycling across the world. It accounted for a share of about 36.5% of the recycled PET market, in terms of value, in 2020.

APAC is expected to hold the largest market share in the global recycled PET market during the forecast period.
APAC is the largest and market of recycled PET, with China being the major emerging market. APAC accounted The growth is due to the growing demand from bottles, sheets, fiber and other applications throughout the world. An increasing trend in terms of collection, domestic recycling, recovery of PET, export of PET waste, and implementation of legislative regulations has been witnessed in the market for RPET. These activities have contributed significantly to the growth in demand for RPET in various applications such as food & beverage bottles, textile fiber, and strapping. It accounted for a share of about 43.6% of the recycled PET market, in terms of value, in 2020.

Indorama Ventures Public Limited (Thailand), Biffa (UK), Far Eastern New Century Corporation (Taiwan), Plastipak Holdings Inc (US), Alpek (Mexico), among others. are the leading recycled PET manufacturers, globally.

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COVID-19 Impact on the Recycled PET Market

The global Recycled PET market includes major Tier I and II suppliers like Indorama Ventures Public Limited (Thailand), Biffa (UK), Far Eastern New Century Corporation (Taiwan), Plastipak Holdings Inc (US), Alpek (Mexico), These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and Rest of the World. COVID-19 has impacted their businesses as well.

The global Recycled PET market is expected to witness a slight decrease in its growth rate in 2020-2021, as the plastic recycling activities are slowed down by the covid-19 pandemic. The pandemic has led to hindrance in production in several Recycled PET producing countries that are under lockdown. APAC and Europe are the leading producers of Recycled PET for various end-use industries. All these factors have led to disruption in the supply chain of the Recycled PET market as operations have slowed down in many manufacturing units.

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