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Plastic Recycling April 08, 2019 12:30:40 PM

World Recycled PET Market to Hit $12.5 Billion, Growing at 8% CAGR

Paul Ploumis
ScrapMonster Author
The largest product type in the worldwide rPET industry is Clear rPET.

World Recycled PET Market to Hit $12.5 Billion, Growing at 8% CAGR

SEATTLE (Scrap Monster): The most recent study report published by Acumen Research and Consulting finds that the global recycled polyethylene terephthalate (rPET) market is expected to reach $12.5 billion by 2026. The market is expected to register a CAGR growth of 8% from 2018 to 2026.

According to the report titled “Recycled Polyethylene Terephthalate (rPET) Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 – 2026”, the increased awareness about environment stability among clients and the ban on landfills imposed by increasing number of countries across North America and the Europe are the key drivers of rPET market during the forecast period.

The U.S. has turned out to become a major shareholder of global rPET market revenue. The U.S. industry is one of the major industries, not only in North America, but also in the entire world. Despite having limited recycling plants, the country has managed to become one of the largest PET recycling nations of the world. The country’s PET bottle collection rate of 31% stands well above the global average, the report says.

The largest product type in the worldwide rPET industry is Clear rPET. Thriving beverage industry in the Asia Pacific region and growing bottle-to-bottle production are likely to remain as key drivers of rPET market through 2026. The report provides insights based on classification by region into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. The major companies featured in the report include Libolon, Placon, Phoenix Technologies, Clear Path Recycling LLC, Evergreen Plastics, Inc., and Verdeco Recycling, Inc. 

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