The global demand for Recycled PET Chips Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Kilo Tons in 2021 and forecast to touch XX Kilo Tons by 2028 with a CAGR of XX% during 2022-2028.
Recycled PET (RPET) chip is obtained by recycling PET (polyethylene terephthalate) containers and bottles. RPET is used to manufacture new plastic products. PET can be recycled several times as the recycling process is carried out at a low temperature, preventing degradation of the polymer chain. The use of RPET chips reduces the consumption of fresh raw materials and reduces waste during the manufacturing process. Moreover, the cost of producing plastic products from RPET is comparatively cheaper, which is why it is used as a substitute for virgin PET. RPET finds utility in a wide range of applications. It is mainly used in the production of fiber which is fabricated further to make apparel and carpet. RPET is also used for manufacturing new containers and bottles for food and beverages, non-food items, strapping, and thermoform packaging.
Market Dynamics
The RPET market is expanding rapidly due to the ever-increasing global population coupled with the increasing demand for food and beverage items and textiles. The technological advancements made in collecting, sorting, and recyclable processing plastic bring new opportunities for the recycled PET chips market. Over the past several years, recycled PET chips are effectively being utilized in food packaging applications. In addition, the overall demand and supply mechanism in the RPET market and the introduction of favorable government regulations will drive the RPET market significantly in the upcoming years. Moreover, producing new plastic products from recycled plastic involves less expenditure. Furthermore, factors like a growing preference for sustainable plastic, reduced oil usage, carbon emission, reduced consumption of virgin PET chips, and increasing recycling rates of used bottles are expected to boost the RPET market. However, the high cost of recycling plant installation and poor performance and quality of RPET is restraining market growth.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of recycled pet chips. The growth and trends of Recycled PET Chips Industry provide a holistic approach to this study.
Market Segmentation
This section of the recycled pet chips market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type - Clear Chip
- Brown Chip
- Green Chip
- Blue Chip
- Others
By Application - Bottles
- Sheet
- Fiber
- Strapping
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Recycled PET Chips market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Recycled PET Chips Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the recycled pet chips market include Clean Tech Incorporated, Clear Path Recycling, Mohawk Industries Incorporated, CarbonLite Industries, Greentech, Visy, Evergreen Plastics, Extrupet, PolyQuest, Phoenix Technologies, and Verdeco Recycling. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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