Recycled Polyethylene Terephthalate Market Size to Reach USD 16.63 Billion in 2030 | Emergen Research

VANCOUVER, BC, May 26, 2022 /PRNewswire/ -- The global recycled Polyethylene Terephthalate (rPET) market size reached USD 9.25 Billion in 2021 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Rising consumer awareness regarding sustainability and implementation of stringent government norms and regulations to reduce pollution and environmental impact are some major factors driving market revenue growth.

Drivers:

Increased use of rPET for various products, shift in consumer behavior toward sustainability, and implementation of stringent regulations by governmental and regulatory bodies for greener environment and low wastage are driving demand for rPET. Growing demand for rPET from various end-use industries, especially from the Food & Beverages (F&B) due to properties such as good durability, adaptability, eco-friendliness, and infinite recyclability is a key factor driving demand from the Fast Moving Consumer Goods (FMCG) sector. Manufacturing products from recycled PET is an eco-friendly process as it requires almost half of the energy and CO2 emissions are also significantly lower. As per the Swiss Climate report, rPET is 75% more environmentally friendly than PET, and has an effective and better ecological balance than glass.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1018

Restraints:

Recycled PET is not a completely sustainable option as the material degrades into microplastics before completely decomposing, but the process of decomposing can take a hundreds of years. Another primary restraint is lack of effective or efficient machinery and infrastructure for breaking down the materials for reuse or other purposes. Moreover, heating rPET products for reusability degrades durability, which would gradually lead to being dumped in landfills as waste. Lack of a proper regional definition of 'food grade' and the presence of strict regulatory bodies such as the European Food Safety Authority (EFSA) and the US Food and Drug Administration (FDA) are some other major factors restraining revenue growth of the market.