The global price of polyethylene terephthalate (PET) in 2022 was 1,161.9 U.S. dollars per metric ton, showing an increase from the previous year's value of 1,065.7 U.S. dollars per metric ton. PET is extensively used in the textile industry to make polyester fibers, as well as for various packaging applications like beverage bottles, food containers, and personal care products. PET market outlook This increase in the global price of PET coincides with a rise in the market value of PET worldwide, which reached 33.51 billion U.S. dollars in 2022, up from 32.35 billion U.S. dollars in 2021. The market value is projected to continue growing, reaching an estimated 43.26 billion U.S. dollars by 2030. This growth in market value is reflective of the increasing demand for PET, with the global market volume of PET reaching 25.47 million metric tons in 2022, up from 19.71 million metric tons in 2015. Environmental footprint of PET and bioplastic PET PET is a widely used plastic with various applications, but its production and usage come with environmental concerns. Although it is entirely recyclable, traditional PET is derived from non-renewable resources and is not biodegradable, contributing to plastic pollution and resource depletion. In response, there has been growing interest in bioplastic PET, which is made from renewable resources and is biodegradable. However, despite its potential benefits, there is a forecasted decline in the production capacity of bioplastic PET. In 2023, the production capacity stood at 2.2, but it is forecasted to drop to 0.4 by 2028. While bioplastic PET is made from renewable resources and is biodegradable, it still has some environmental downsides. For instance, the production process for bioplastic PET can be energy-intensive and water-consuming, and the biodegradation process may release methane, a potent greenhouse gas. As a result, some companies are exploring even more sustainable bioplastic alternatives, such as plant-based materials like polylactic acid (PLA) or fully biodegradable plastics like polyhydroxyalkanoates (PHA).

The recycled PET prices in the United States for Q4 2023 reached 1479 USD/MT in December. The market saw stable pricing and consistent supply levels, primarily due to modest consumption and surplus stock within the packaging and beverage sectors. Despite stable demand from various industries, the market sentiment was dampened by a slowdown in recycling operations and weaker overseas demand.

Explore IMARC’s newly published report, titled “Recycled PET Pricing Report 2025: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of recycled PET pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

In 2024, the recycling costs for PET bottles in Japan stood at 6.5 Japanese yen per kilogram. Accordingly, figures peaked well above the average price level of previous years.

Learn about the factors that influence the price of pet plastic bottles, including size, quantity, quality, and customization. Discover how market demand and supply, material quality, quantity, and customization impact the cost, which typically ranges from $0.10 to $2.00 per bottle.

Learn about the factors that impact the price of PET resin, a recyclable thermoplastic polymer resin used to manufacture plastic containers, fibers, and films. Discover the projected growth of the global PET market and how it's influenced by demand-supply dynamics, raw material prices, energy costs, and technical specifications, among others.

According to Cognitive Market Research, the global PET Plastic Recycling market size will be USD 10548.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 4219.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3164.55 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2426.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 527.43 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 210.97 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The Mechanical category is the fastest growing segment of the PET Plastic Recycling industry

Market Dynamics of PET Plastic Recycling Market

Key Drivers for PET Plastic Recycling Market

Growing need for environmentally friendly packaging in the food and beverage industry to Boost Market Growth

One of the most important factors that is driving the global market for recycled PET (rPET) is the growing need for environmentally friendly packaging in the food and beverage industry. Customers are becoming more ecologically concerned, and as a result, they are giving higher priority to items that make use of recycled materials, particularly in the packaging. This move is a reflection of a larger trend towards sustainability, in which product manufacturers are responding to the expectations of consumers by incorporating recycled PET into their manufactured goods. The utilization of recycled polyethylene terephthalate (rPET) in a variety of products, ranging from beverages to condiments, contributes to the reduction of waste plastic, which is in line with the values of consumers as well as the objectives of the environment

Significant increase in the consumption of reduced PET

The incorporation of recycled PET not only satisfies the need of customers but also improves the image of the company's brand, which is why a growing number of food and beverage firms are committed to environmentally responsible business practices. Because of this strategic move, they are able to support their long-term sustainability objectives which has led to a significant increase in the consumption of reduced PET. As a consequence of this, the dedication of the food and beverage sector to environmentally friendly packaging continues to drive growth in the market for recycled PET sheets.

Restraint Factor for the PET Plastic Recycling Market

Absence of an efficient structure for plastic trash collection and segregation, will Limit Market Growth

A significant constraint on the global recycled PET business is the absence of an efficient structure for plastic trash collection and segregation. Effective collection and appropriate segregation are essential for acquiring high-quality rPET; yet, numerous places lack the requisite infrastructure to facilitate these operations. This shortage results in difficulties in obtaining a reliable supply of post-consumer PET bottles, the principal feedstock for rPET synthesis. Insufficient systems can lead to contamination and diminished material quality, hence impacting the cost-effectiveness and viability of recycling initiatives. The lack of standardized procedures impedes the efficient separation of PET from other plastics, hence restricting the availability of high-quality feedstock essential for scaling up rPET production.

Impact of Covid-19 on the PET Plastic Recycling Market

The COVID-19 epidemic profoundly affected plastic garbage collection and recycling rates, especially in the U.S., South America, and Europe, resulting in a scarcity of recyclable bottles. With the increase in demand for personal protective equipment (PPE), attention switched to sustaining economic activities, hence eclipsing recycling initiatives. Although recycled PET (rPET) is a sustainable option, it is accompanied by problems, particularly a...

As of 2018, the recycling rate of PET (polyethylene terephthalate) plastic bottles in Norway was 97 percent, making it a world leader in recycling. In comparison, the recycling rate of these plastic bottles in the United States was just 29 percent.

Norway's high recycling rate can be explained by the country's efficient deposit return scheme. When consumers purchase plastic bottles, they pay a small additional fee on top of the price of the product and are reimbursed this once they are returned to reverse vending machines. The scheme has proved so effective that other countries have followed suit. In the UK, 86 percent of people support the idea of supermarket deposit return schemes for plastic and glass bottles, as well as drink cans.

According to Cognitive Market Research, the global PET plastic bottles recycling market size will be USD 4525.2 million in 2024. It will rise at a compound annual growth rate (CAGR) of 5.5% between 2024 and 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1810.1 million in 2024 and will climb at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1357.6 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1040.8 million in 2024 and will climb at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 226.2 million in 2024 and will climb at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 90.5 million in 2024 and will climb at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The personal care category is the fastest-growing application segment of the PET plastic bottle recycling industry.

Market Dynamics of PET Plastic Bottles Recycling Market

Key Drivers for PET Plastic Bottles Recycling Market

Growing Environmental Awareness to Promote Global Market Demand

Increasing global awareness of environmental issues, such as plastic pollution and climate change, has prompted consumers and businesses to prioritize sustainability. This awareness drives the market demand for eco-friendly products and practices, including recycling initiatives. More consumers are actively seeking products with recycled content and supporting brands that implement sustainable practices. This shift in consumer preferences compels companies to invest in recycling efforts to meet market demands and enhance their brand image. Businesses are adopting corporate social responsibility (CSR) strategies that emphasize sustainability. Many companies have set ambitious targets for reducing their carbon footprint, including commitments to using recycled materials in their packaging.

Increased Government Regulations and Initiatives to Drive Market Growth

Governments worldwide are implementing regulations and initiatives aimed at reducing plastic waste and promoting recycling, which primarily boosts the PET recycling market expansion. Many countries have introduced laws mandating higher recycling rates and setting targets for the reduction of single-use plastics. For example, Extended Producer Responsibility (EPR) programs require manufacturers to manage the end-of-life disposal of their products, encouraging them to invest in recycling. Governments often provide financial incentives, such as grants or subsidies, to support recycling facilities and technology development. These incentives help lower the barriers to entry for companies wishing to enter the recycling market.

Restraint Factor for the PET Plastic Bottles Recycling Market

Absence of the Frameworks for Plastic Waste Collection and Segregation to Limit Market Size

One of the main barriers to the recycled PET (rPET) industry is the need for a necessary structure for plastic waste collection and classification. The recycling process requires efficient collection and sorting of plastic trash to produce high-quality rPET. Many regions and countries lack established infrastructure and methods for effectively collecting and segregating plastic garbage. A stable framework is necessary to get a constant and reliable supply of post-consumer PET bottles, which are the principal source of rPET manufacture. Inadequate collections and segregation systems can lead to contamination and reduced plastic quality, which limits the viability and cost-effectiveness of rPET production.

Impact of Covid-19 on the PET Plastic Bottles Recycling Market

The COVID-19 pandemic had a substantial influence on the PET plastic bottle recycling sector, owing to disruptions in collection and processing infrastructure. During lockdowns, several recycling plants were temporarily closed, resulting in a decline in the availability of recycled PET (rPET) and increased garbage accumulation. Besides, the increased focus on hygiene and safety led to an upsurge in single-use plastic usage, putting a further burden on ...

Polyethylene terephthalate (PET) is a flexible and lightweight polyester resin that is used to produce products such as packaged goods, plastic bottles, electronics, and more. The market size of PET in the United States is forecast to grow to some 6.7 billion U.S. dollars by 2025.

The price of post-consumer recycled polyethylene terephthalate (R-PET) colored flakes in Western Europe was up to 1,340 euros per metric ton in August 2022. In July 2022, R-PET prices increased by roughly 100 euros from the previous month due to rising mixed and colored bottle scrap prices and reduced supply. R-PET grades were the only post-consumer recycled polymers to register price increases in August 2022.

According to Cognitive Market Research, the global PET Bottle Flake market size will be USD 9635.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 11.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 3854.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2890.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2216.17 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 481.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 192.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031.
The Recycling category is the fastest growing segment of the PET Bottle Flake industry

Market Dynamics of PET Bottle Flake Market

Key Drivers for PET Bottle Flake Market

Growing Use of PET Flakes in Packaging and Textiles to Boost Market Growth

The growing use of PET flakes in the packaging and textile sectors is primarily driven by the global push toward sustainability, government regulations on plastic recycling, and advancements in recycling technologies. However, challenges like inconsistent supply, competition from alternative materials, and high investment costs in recycling infrastructure act as key restraints on the market’s growth. The balance between these drivers and restraints will shape the future adoption and expansion of PET flakes in various industries. For instance, Indorama Ventures, in conjunction with Coca-Cola, established a polyethylene terephthalate (PET) recycling facility in the Philippines in October 2022 as part of the Coca-Cola Company's World without Waste Campaign, which aims to collect and recycle the equivalent of every bottle sold by 2030.

Increased focus on recycling to reduce plastic waste

This growth increased focus on recycling to reduce plastic waste, including rising environmental awareness, government regulations, and corporate sustainability initiatives. Consumers are increasingly prioritizing eco-friendly products, leading to greater demand for recycled plastics. Stringent policies, such as bans on single-use plastics and extended producer responsibility (EPR) programs, are pressuring companies to adopt recycling practices. Innovations in recycling technologies and the circular economy model are also encouraging businesses to reduce plastic waste and shift towards sustainable materials.

Restraint Factor for the PET Bottle Flake Market

Expensive recycling processes limit profitability and growth

The high cost of recycling procedures is a major barrier in many sectors, particularly those that use sophisticated materials. These operations frequently necessitate specialized equipment, complex technology, and an extensive workforce, which raises operational costs. Furthermore, inefficiencies in the recycling chain, such as collection, sorting, and transportation, can drive up expenses. As a result, these costly methods limit profitability and make it difficult for businesses to scale operations, thus impeding the total growth potential of the recycling sector.

Impact of Covid-19 on the PET Bottle Flake Market

The COVID-19 pandemic significantly impacted the PET Bottle Flake market. Disruptions in the supply chain, reduced collection rates of plastic waste, and shutdowns of recycling facilities led to fluctuations in raw material availability. Additionally, the pandemic-driven surge in demand for packaged goods, bottled beverages, and personal care products increased the need for PET bottles, driving up demand for recycled PET flakes. However, logistical challenges and economic slowdowns hampered the overall market growth during the initial stages of the pandemic. Introduction of the PET Bottle Flake Market

The PET Bottle Flake market revolves around the recycling and processing of polyethylene terephthalate (PET) bottles into flakes, which serve as raw materials for various in...

The Africa Polyethylene Terephthalate (PET) Market is segmented by End User Industry (Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging) and by Country (Nigeria, South Africa). Market Value in USD and Volume in tons are both presented. Key Data Points observed include volume of automobile production, new construction floor area, plastic packaging production volume, plastic resin production, imports and exports, and price of plastic resins.

Learn about the factors that influence the cost of mineral water pet bottles, such as brand, size, and location of purchase. Discover why popular brands tend to have higher prices and how the size of the bottle can affect its cost. Consider the environmental impact of plastic bottles and the efforts being made by brands to promote sustainability. Find out the average price range and understand the importance of considering the overall value of mineral water pet bottles.

The Europe Polyethylene Terephthalate (PET) Market is segmented by End User Industry (Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging) and by Country (France, Germany, Italy, Russia, United Kingdom). Market Value in USD and Volume in tons are both presented. Key Data Points observed include volume of automobile production, new construction floor area, plastic packaging production volume, plastic resin production, imports and exports, and price of plastic resins.

7529 Global import shipment records of Pet Bottle Scrap with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Learn about the factors that influence plastic pet bottle prices, including size, type, material, and quantity. Discover how to get the best deal when purchasing these bottles.

12 Global import shipment records of Pet Plastic with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

According to Cognitive Market Research, the global Food-grade recycled plastics market size is USD 26152.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.60% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 10460.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 7845.66 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 6015.01 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2031.
Latin America's market will have more than 5% of the global revenue with a market size of USD 1307.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 523.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Bottles held the highest food-grade recycled plastics market revenue share in 2024.

Key Driver for the Food Grade Recycled Plastics Market

Growing Awareness of Plastic Pollution to Provide Viable Market Output

The growing awareness of plastic pollution has significantly impacted the food-grade recycled plastics market. As consumers become more conscious of environmental issues, there's a heightened demand for sustainable packaging solutions. Food-grade recycled plastics offer a viable alternative, reducing the reliance on virgin plastics and mitigating pollution. This awareness drives manufacturers to incorporate recycled materials into their packaging, meeting consumer expectations for eco-friendly products while contributing to the reduction of plastic waste in the environment.

For instance, in October 2023, Coca-Cola introduced 100 percent recycled PET bottles for its carbonated beverage, supporting the circular economy. The company has introduced recycled PET (polyethylene terephthalate) bottles in pack sizes of 250 ml and 750 ml across several markets in India, said a statement from Coca-Cola India.

(Source: https://www.zeebiz.com/companies/news-coca-cola-india-introduces-100-recycled-pet-bottles-for-its-carbonated-beverage-257588 )

Various Strategies Adopted by Key Players to Propel Market Growth

Key players in the food-grade recycled plastics market employ various strategies to maintain competitiveness. These include investing in research and development to enhance product quality and safety, expanding their product portfolios to offer a wide range of food-grade recycled plastics, forming strategic partnerships with recyclers and food packaging manufacturers, implementing sustainable practices throughout their supply chains, and engaging in marketing initiatives to promote the environmental benefits of using recycled plastics in food packaging.

For instance, in November 2022, Plastipak Holdings, Inc. announced opening a recycling plant in Toledo, Spain. The new recycling facility converts PET flakes into food-grade recycled PET (rPET) pellets suitable for direct use in new preforms, bottles, and containers.

(Source: https://www.mrchub.com/news/405039-plastipak-opens-r-pet-food-grade-pellet-plant-in-spain )

Restraint factor of the Food Grade Recycled Plastics Market

Preference for Virgin Plastics over their Recycled Alternatives to Restrict Market Growth

Despite environmental concerns and regulations promoting sustainability, the food-grade recycled plastics market faces a preference for virgin plastics due to several factors. These include perceived concerns over safety and hygiene, uncertainty regarding the quality and consistency of recycled materials, limited availability of suitable food-grade recycled plastics, and the perception of higher costs associated with recycled alternatives. These factors hinder widespread adoption and limit market growth despite the push for sustainable packaging solutions.

Impact of COVID-19 on the Food-Grade Recycled Plastics Market

The COVID-19 pandemic has accelerated the demand for food-grade recycled plastics due to heightened awareness of hygiene and safety concerns. As consumers increasingly opt for packaged food items, there's a simultaneous push for sustainable ...

According to Cognitive Market Research, the global Polyethylene Terephthalate - PET Resin market size will be USD 53215.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 9.80% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 21286.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 15964.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 12239.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 2660.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1064.31 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.
The PET bottle category is the fastest growing segment of the Polyethylene Terephthalate - PET Resin industry

Market Dynamics of Polyethylene Terephthalate - PET Resin Market

Key Drivers for Polyethylene Terephthalate - PET Resin Market

PET's versatility and recyclability make it ideal for packaging to Boost Market Growth

Polyethylene Terephthalate (PET) is highly valued for packaging due to its versatility and recyclability, which act as key drivers in its market growth. However, certain restraints also influence its adoption. PET's lightweight and durable properties make it ideal for a wide range of products, including beverages, food, personal care, and pharmaceuticals. Its transparency and ability to be moulded into various shapes enhance the brand's appeal and consumer convenience. Despite being recyclable, improper disposal of PET contributes to pollution, leading to criticism of plastics in general. This has resulted in some regions imposing bans or restrictions on single-use plastics, impacting PET demand. PET’s versatility and recyclability make it a leading choice in the packaging industry, driven by consumer demand and sustainability goals. However, environmental concerns, competition, and regulatory pressures create significant challenges. The balance between these drivers and restraints continues to shape the PET packaging market, with innovations in recycling and sustainable production playing pivotal roles in its future growth.

PET is used in automotive components to reduce weight and improve fuel efficiency

The use of Polyphenylene Ether (PPE) in automotive components is driven by its lightweight properties, which help reduce vehicle weight and improve fuel efficiency. As automakers face increasing demand for fuel-efficient and eco-friendly vehicles, PPE's superior thermal stability, strength, and chemical resistance make it an ideal material. Its contribution to enhancing vehicle performance and meeting stringent emission regulations ensures its dominance. Additionally, PPE supports advancements in electric vehicles, further boosting its relevance in the automotive industry.

Restraint Factor for the Polyethylene Terephthalate - PET Resin Market

Impacting raw material costs and production expenses

Markets are dominated by major constraints that affect the cost of production and raw materials, which present formidable obstacles for businesses. Production costs are increased by changes in the price of raw materials, which are caused by supply chain interruptions, geopolitical unrest, and environmental laws. Businesses must modify their pricing methods as a result of these growing costs, which may lessen their ability to compete. In addition, increased expenses would discourage investment and innovation, which would hinder market expansion as a whole. Using technology to reduce risks efficiently, diversifying supply sources, and implementing cost-effective production techniques are all necessary to manage these constraints..

Impact of Covid-19 on the Polyethylene Terephthalate - PET Resin Market

The COVID-19 pandemic significantly impacted the Polyethylene Terephthalate (PET) Resin market. Demand surged in the packaging sector, particularly for food, beverages, and hea...

The global polyethylene terephthalate (PET) market was valued at 33.51 billion U.S. dollars in 2022. The global PET market is expected to reach a value of 43.26 billion U.S. dollars by 2029, registering a CAGR of 3.2 percent during the forecast period of 2023 to 2030.