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Posted by Harry on July 10, 2024 at 1:19am 0 Comments 0 Likes
The global Recycled PET Flakes Market size is expected to reach USD 21.03 billion by 2030, registering CAGR of 10.9% during the forecast period, according to a new report by Grand View Research, Inc. Recycled PET flakes exhibit numerous superior characteristics such as quick drying, heat retention, stretching resistance, softness, wrinkle resistance, high stiffness, and improved tensile and flexural strength. These characteristics promote their demand in the textiles and carpet industries, and expected to drive demand during the forecast period.
High demand for sheets & films developed from recycled polyethylene terephthalate flakes in Europe is expected to contribute to the growth of sheets & films segment of the market during the forecast period. The dominance of shopping malls over brick-and-mortar stores and the stringent implementation of regulations have driven the growth of recycled PET flakes market as sellers of fruits and vegetables sell their products in packets, boxes, or containers.
Additionally, the government initiatives toward a sustainable and clean environment creating more demand for the sustainable rPET flakes products. In the past decade, Europe has focused increasingly on recycled plastics owing to the introduction of a circular economy for plastics by the European Union. The implementation of the circular economy by the countries such as Germany, Italy, France, the UK, and Spain is anticipated to strengthen their plastic recycling capacity and augment the production of recycled PET flakes.
Recycled PET flakes exhibit numerous superior characteristics such as quick drying, heat retention, stretching resistance, softness, wrinkle resistance, high stiffness, and improved tensile and flexural strength. These characteristics promote their demand in the textiles and carpet industries. In addition, these flakes possess an enhanced surface and flow finish. The better dimensional stability and uniform shrinkage offered by the recycled PET flakes than their substitutes also fuel growth of the market, worldwide.
List of Key Players of Recycled PET Flakes Market
Related Press Release@ Recycled PET Flakes Market Report
Recycled PET Flakes Market Report Highlights
Related Reports@
Recycled Plastics Market
Report Attribute |
Details |
Market size value in 2023 |
USD 10.17 billion |
Revenue forecast in 2030 |
USD 21.03 billion |
Growth Rate |
CAGR of 10.9% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
Recycled PET Flakes Market Segmentation
Grand View Research has segmented the global recycled PET flakes market report based on the product, end-use, and region:
Recycled PET Flakes Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Recycled PET Flakes End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Recycled PET Flakes Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
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