Global PET Bottle Recycling Market Overview
PET Bottle Recycling Market Size was valued at USD 4.354 billion in 2021. The PET Bottle Recycling market is projected to grow from USD 4.436 Billion in 2022 to USD 6.749 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.38% during the forecast period (2022 - 2030). PET bottle recycling is widely used in the packaging industry in food & beverages. The use of PET bottle recycling in various end-use industries, majorly in packaging, is projected to boost the demand for PET bottle recycling during the forecast period. The use of PET bottles in the packaging industry is expected to drive the PET Bottle Recycling Market in the coming years. The increasing government initiatives for the textile industry also bolster global market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
PET Bottle Recycling Market Trends
- INCREASING GOVERNMENT INITIATIVES FOR THE TEXTILE INDUSTRY
PET/Polyester trash and previously used PET bottles are used to create recycled polyester staple fiber, a synthetic man-made fiber. It is utilized as a polyfill to stuff cushions, pillows, soft toys, and blankets as well as in the non-woven carpet, wadding, and filtration sectors. It is also employed in the production of geotextiles and yarn. Premium pillows, cushions, and blankets are made with hollow polyester staple fiber because it has exceptional durability capabilities. Recycling PET bottles and other PET waste is crucial to keeping the environment clean.
In the textile industry, PSF from PET Recycled Bottles composed of purified terephthalic acid, monoethylene glycol chips and other materials are employed in fabric manufacturing to enhance its durability. Federal governments across the globe are taking initiatives to promote the textile industry's development overall and sustainable growth, modernization, value addition, and export growth. The European Union's 2030 Vision for Textiles plan, for instance, intends to increase the textile industry's environmental friendliness, competitiveness, and resilience to global shocks. The federal governments of African countries have also launched a number of initiatives to build new textile factories across the continent in order to increase textile production in the region.These programs aim to increase textile and garment production in Africa by 2030. Moreover, in India, The National Technical Textiles Mission (NTTM) and SAMARTH (Skill Development & Capacity Building) programs were started by the Indian government to improve the skills of weavers and craftsmen and enhance the skills of jobless youth in the textile industry. Additionally, the Union Finance Ministry has been asked to maintain the current excise duty cost advantage of recycled PSF relative to virgin PSF while finalizing the GST rates. This request comes from the All India Recycled Fibre & Yarn Manufacturers Association, which represents 35 recycled polyester staple fiber (PSF) producers in India. This factor has ultimately enhanced driving the growth of the PET Bottle Recycling Market revenue.
PET Bottle Recycling Market Segment Insights
PET Bottle Recycling Market by Recycling Process Insights
The PET Bottle Recycling Market segmentation, based on Recycling Process, includes mechanical and chemical. The mechanical segment accounted for a larger market share of 69.07% in 2021, with a market value of USD 3,007.4 million; it is expected to register a higher CAGR of 5.68% during the forecast period in respect to the PET Bottle Recycling Market revenue. The starting stage of PET recycling involves the collection of bottles, which are primarily procured from curbsides. Collected plastic containers are delivered to a material recovery facility (MRF) or a plastics intermediate processing facility (IPC) to begin the recycling process. MRFs integrate collected recyclables and separate them into respective material categories. In the reclaiming process, the impure material passes through a series of sorting and cleaning stages to separate required plastic material from others. The material derived from processing is known as clean flake. The clean flake or pellet is then processed into fiber, sheet, or compounded pellet and finally sold to end users for manufacturing new products.
November 2022: Plastipak announced the opening of its 5th recycling plant in Toledo, Spain, with a capacity of 20,000 tons of food-grade recycled pellets, which will help them eliminate resin transport-related emissions as the plant is located close to its existing preform manufacturing unit. The facility will recycle and produce PET flakes into food-grade PET (rPET) pellets suitable for use in preforms, bottles and containers for various end-use applications. The plant is equipped with advanced energy technologies and equipment which include 1800 photovoltaic solar panels to save up to 443 tons of CO2 per year.
December 2021: Indorama Ventures acquired 26% share capital of Medco Plast (Medco) reaching a 100% shareholding. It had acquired 74% in July 2018.
Figure 1: PET Bottle Recycling Market, by Recycling Process, 2021 & 2030
Source: Secondary Research, Primary Research, MRFR Database and Analyst Reviews
PET Bottle Recycling Market by Application Insights
The PET Bottle Recycling Market segmentation, based on application, has been segmented into beverages, personal care, pharmaceutical, consumer goods, and others. The beverages segment accounted for the largest market share of 40.69% in 2021, with a market value of USD 1,771.74 million; it is expected to register a CAGR of 5.97% during the forecast period. The personal care segment accounted for the second largest market share in 2021, valued at USD 1,499.31 million; it is projected to exhibit a CAGR of 5.42% during the forecast period. PET resin is primarily used to manufacture beverage bottles, with an estimated 90%–95% of all PET resin utilized for this application. The PET Bottle Recycling Market is expected to witness impressive growth due to the increase in demand in the packaging industry. Hence, the beverages application segment is expected to register the highest CAGR of 5.97% during the forecast period.
January 2022: Plastipak has expanded its recycling facility at Bascharage, Luxembourg by 136%. The recycling facility, which is adjacent to Plastipak's flagship preform and container manufacturing facility, converts washed rPET flakes from post-consumer bottles into food-grade recycled PET (rPET) pellets. Its rPET is converted into new preforms and containers at the Bascharage facility, which primarily serves the German and Benelux food and beverage markets.
October 2021: PolyQuest formed Renuva Plastics LLC a wholly owned subsidiary of PolyQuest dba Faith Group USA which acquired the USA division of Faith Group Company. The Faith Group is a premier distributor of post-industrial thermoplastics (especially PET). The acquisition has given PolyQuest significant access to virgin, post-industrial and post-consumer products through applications consuming resin such as bottle, sheet, film, textile staple fiber, textile filament, BCF, strapping, etc.
PET Bottle Recycling Market Regional Insights
By Region, the PET Bottle Recycling Market has been segmented into North America, Europe, Asia-Pacific and Rest of the world. The North America segment accounted for the largest market share of 34.47% in 2021, with a market value of USD 1,501.00 million; it is expected to register a CAGR of 5.04% during the forecast period. The Europe segment accounted for the second largest market share in 2021, valued at USD 1,242.89 million; it is projected to exhibit a CAGR of 4.93% during the forecast period. Followed by the Asia-Pacific segment, which is expected to register a CAGR of 6.32%.
Further, the major countries studied are: The U.S, Canada, Mexico, Germany, France, UK, Spain, China, Japan, India, South America, Africa, and Middle East.
Figure 3: PET Bottle Recycling Market SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America PET bottle recycling market accounts for the largest market share and is expected to grow by a CAGR of 5.04%. One of the biggest marketplaces for PET bottle recycling worldwide is North America, which is followed by Europe. Significant product advances, the industrialization of PET recycling in the region, and the active involvement of the U.S., Mexico, and Canadian markets all contribute to the region's success. To sustain customer applications, suppliers are utilizing various material combinations. Further, the US PET bottle recycling market dominated the regional PET bottle recycling market and will expect to grow by a CAGR of 5.31%, and the Canada PET bottle recycling market is expected to grow by a CAGR of 4.68% in North America region. For instance, US PET bottle recycling market is a major contributor in the regional PET bottle recycling market, Leading manufacturers and large companies driving the PET bottle recycling market in North America. The PET bottle recycling market is currently being driven by several factors.
The Europe PET bottle recycling Market is expected to grow at a CAGR of 4.93% from 2022 to 2030, due to the PET bottle recycling market currently being driven by several factors. Additionally, companies in this region are now adopting advanced machinery, which is coupled with the rise in the need for supply chain integration. This is driving the manufacturers towards automation solutions because of their ability to interact with the stakeholders and the optimization of complicated logistics schedules. Moreover, Germany PET bottle recycling market held the largest market share, and the Spain PET bottle recycling market was the fastest growing market in the Europe region.
Global PET bottle recycling Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the PET bottle recycling market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the PET bottle recycling industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the global PET bottle recycling industry to benefit clients and expand the PET bottle recycling market sector is to manufacture locally to reduce operating costs. The leading players, as mentioned above, are dominating the market due to their advanced product offerings, high industry experience, and geographic reach. These players may establish their presence worldwide through strategic partnerships and acquisitions during the forecast period. Players with access to better technologies can develop unique and innovative products and solutions, which could render the competitors’ offerings obsolete. The competitive environment in the market is likely to intensify further due to technological advancements.
Indorama Ventures Public Company Limited (Indorama Ventures) is one of the leading PET manufacturers across the globe. It operates through three business segments: feedstock, PET, and fibers. The product offering of the company includes- recycled products, feedstock, PET, fibers, and packaging. It is one of the key players in polyesters fiber production in Thailand. Its recycled PET is primarily used as a raw material in the production of bottles, sheets, films, fibers, filaments, and other specialty products. The company's resins are used to make one out of every five PET bottles in the world. Its PET resins are used in the packaging of beverages, food, pharmaceuticals, household goods, and industrial products. It is a global PET manufacturer, with 18 production plants spread across 11 countries and four continents. The company's subsidiaries include Auriga Polymers Inc., FiberVisions, L.P, Indorama Ventures Global Services Ltd., and Indorama Holdings Ltd.
Krones AG is a wholly owned subsidiary of Krones Group. Krones AG is engaged in developing and manufacturing machines, complete lines for recycled bottles, cans and related packaging, process technology, and intralogistics. It also offers IT solutions for the food and beverage industries. It offers process technology, dairy products, filling and packaging lines, intralogistics, IT solutions, and PET recycling systems. It primarily caters to the beverages industry. It works on two modules for PET recycling systems: the washing module and the decontamination module. The company owns more than 5,000 patents; it also invested approximately USD 194 million in research and development activities in 2017. The company has a presence in the US and has bases in Germany, China, India, South Africa, UAE, and the UK. Its major production facility is located at Debrecen, Hungary.
Key Companies in the PET Bottle Recycling Market are included.
- Indorama Ventures Public Company Limited (Indorama Ventures)
- Plastipak Holdings, Inc. (Plastipak)
- Schoeller Group
- PFR Nord GmbH
- Phoenix Technologies
- UltrePET, LLC (UltrePET)
- Krones AG
- Sieu Japan Co., Ltd. (Seiu Japan)
- Vanden Global Ltd. (Vanden)
Global PET bottle recycling Industry Developments
November 2022 Plastipak announced the opening of its 5th recycling plant in Toledo, Spain, with a capacity of 20,000 tons of food-grade recycled pellets, which will help them eliminate resin transport-related emissions as the plant is located close to its existing preform manufacturing unit. The facility will recycle and produce PET flakes into food-grade PET (rPET) pellets suitable for use in preforms, bottles and containers for various end-use applications. The plant is equipped with advanced energy technologies and equipments which include 1800 photovoltic solar panels to save upto 443 tons of CO2 per year.
October 2021 PolyQuest formed Renuva Plastics LLC a wholly owned subsidiary of PolyQuest dba Faith Group USA which acquired the USA division of Faith Group Company. The Faith Group is a premier distributor of post-industrial thermoplastics (especially PET). The acquisition has given PolyQuest significant access to virgin, post-industrial and post-consumer products through applications consuming resin such as bottle, sheet, film, textile staple fiber, textile filament, BCF, strapping, etc.
August 2020 Indorama Ventures acquired a 100% equity stake in industrie Maurizio Peruzzo Polowat spóka z ograniczonoci (IMP Polowat), which consists of two production sites in poland, bielsko-biala and leczyca. IMP Polowat recycles pet flakes and pellets from post-consumer PET. This facility provides an appealing recycling platform for IVL in eastern Europe, opening new opportunities to meet the growing demand for recycled PET and more sustainable packaging solutions.
PET Bottle Recycling Market Segmentation
PET Bottle Recycling Market Recycling Process Outlook (USD Million, 2018-2030)
PET Bottle Recycling Market Application Outlook (USD Million, 2018-2030)
- Personal Care
- Consumer goods
PET Bottle Recycling Market Regional Outlook
- Rest of Europe
- Rest of Asia -Pacific
Rest of the World
Middle East & Africa
Market Size 2021
USD 4.354 billion
Market Size 2022
USD 4.436 billion
Market Size 2030
USD 6.749 billion
Compound Annual Growth Rate (CAGR)
2018 & 2020
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Recycling Process, Application, and Region
North America, Europe, Asia Pacific, and Rest of the World.
The U.S, Canada, Mexico, Germany, France, UK, Spain, China, Japan, India, South America, and Middle East & Africa.
Key Companies Profiled
Indorama Ventures Public Company Limited (Indorama Ventures), Krones AG, Plastipak Holdings, Inc. (Plastipak), Schoeller Group, PFR Nord GmbH, PolyQuest, Phoenix Technologies, UltrePET, LLC (UltrePET), Sieu Japan Co., Ltd. (Seiu Japan), and Vanden Global Ltd. (Vanden).
Key Market Opportunities
Designing of PET Bottle to Facilitate Recycling
Key Market Dynamics
Use of PET Bottles in the Packaging Industry
increasing government initiatives for the Textile Industry
PET Bottle Recycling Market Highlights:
Frequently Asked Questions (FAQ) :
PET Bottle Recycling Market worth USD 6.749 billion by 2030
Use of PET Bottles in the Packaging Industry and increasing government initiatives for the Textile Industry are the key driving factor for the growth of the PET Bottle Recycling Market.
PET Bottle Recycling Market grows at a CAGR of 5.38% during the forecast year.
North America held the largest market share in the PET Bottle Recycling Market.
Indorama Ventures Public Company Limited (Indorama Ventures), Krones AG, Plastipak Holdings, Inc. (Plastipak), Schoeller Group, PFR Nord GmbH, PolyQuest, Phoenix Technologies, UltrePET, LLC (UltrePET), Sieu Japan Co., Ltd. (Seiu Japan), and Vanden Global Ltd. (Vanden), and other are the key players.
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