Overview:
Recycled form of Polyethylene Terephthalate (PET) is known as recycled polyethylene terephthalate. It is used in making carpets, PET bottles, packaging materials, automotive parts, construction materials and others. Demands for recyclable materials and growing awareness is propelling the market. On observing the current trends, the Global Recycled Polyethylene Terephthalate Market is expected to gross nearly 09 % annual growth during the survey period.
The growing demands for PET bottles, fibres and plastic sheets are playing a significant part in the expansion of this market. Recycled PET is also available in coloured PET forms, which are highly flexible, durable and lightweight at the same time.Recycled PET products are n high demands in the food & beverage and packaging industries. Expanding the food & beverage industry will help in gaining the global preference and boom the market’s growth.
Recycled PET products have brilliant resistance properties, which makes them suitable for storing and transporting liquid and powdered entities. To overcome boosting demands, the companies are using blow moulding and injection moulding techniques. However, the blow moulding technique will cover the major part.The market is attracting new players, which is increasing competition within the market. Therefore, the companies are investing in research & development and are trying to retain their dominance and product’s quality but is a piece of positive news for the market.
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Recent Industry News:
Global Recycled Polyethylene Terephthalate Market is making huge leaps with time, but the growing competition within the market is creating problems for the already established industries. The companies are now furiously investing in research & developed programs for maintaining their positions and looking for new aspects. The food & beverage industry is the major employer of this market. The Asia Pacific will lead the regional race and maintain its domination during the projected time.
Recycled Polyethylene Terephthalate Global Market’s Segments:
Global Polyethylene Terephthalate Market is segmented into two parts:
Types: The recycled PET products are available in clear and coloured forms. The clear products will cover the major part of the market.
Uses: The recycled PET is used in making sheets, PET bottles, food containers, packaging and other products.
Regional Market Summary:
Asia Pacific, America, Europe and The Middle East & Africa are the regions observed for the Global Recycled Polyethylene Terephthalate Market.
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The Asia Pacific region is the largest recycled PET market and will be the fastest-growing market during the survey period. Increasing urbanisation, expanding food & beverage market, rising per capita income and emphasis on recyclable materials is propelling the driving the market in this region. The European region is the second-largest market due to increasing environmental awareness, rising investments towards research & development programs and other factors.
The American region is the third-largest market and is showing impressive growth. Demands for PET products, well-established recycling facilities, increasing constructions, and other factors are responsible for the growth in this market.
Rest of the regions are also showing considerable growth rates due to rising awareness and cost-effective nature of this material.
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