Global PCR PET Market - Forecast(2023 - 2028)

Report Code: CMR 1485 Report Format: PDF + Excel

Global PCR PET Market Overview

Global PCR PET market size is forecast to reach US$3.5 billion by 2027, after growing at a CAGR of 5.7% from 2022 to 2027. Many manufacturers are employing post-consumer resin (PCR) as an environmentally friendly packaging solution to support recycling programs, consumer demand, and to lessen their landfill effect. Globally, PCR plastics are made from PET and other plastics such as polyvinyl chloride and polybutylene terephthalate that have been recycled. The hydroformylation reaction of ethylene oxide using a cobalt catalyst has raised the demand for PCR PET on commercial scale. The rising demand for PCR PET in applications such as fiber, sheet and film, bottles, and others is estimated to drive the market growth. Currently, with the rising government investments in the pharmaceutical sector and inclining growth of the e-commerce sector, the global PCR PET market is further estimated to rise over the forecast period.

Report Coverage

The report " Global PCR PET Market Report – Forecast (2022-2027)" by IndustryARC covers an in-depth analysis of the following segments of the global PCR PET industry.

By Type: Mechanical PCR, Chemical PCR, and Biological PCR
By Grade: Textile Grade, Bottle Grade, and Film Grade
By Application: Fiber, Sheet and Film, Bottles, Thermoforming Trays, Nonwoven, and Others
By End-Use Industry: Packaging (Food & Beverages, Pharma Products, Personal Care Products, and Others) and Non-packaging (Sportswear, Shoes, Home Textiles, Industrial Textiles, Strapping, and Others)
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia and New Zealand, Taiwan, Indonesia, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)

Key Takeaways

  • The Asia-Pacific region dominates the PCR PET market due to the rising growth and investments in the retail activities. For instance, according to the India Brand Equity Foundation, between 2019 and 2023, India estimates to invest US$1.4 trillion in infrastructure projects.
  • Rising usage of PCR PET for packaging products in the food and pharmaceutical sector, is further anticipated to drive the demand for global PCR PET in the forecast period (2022-2027).
  • Moreover, in the year 2021 packaging for groceries, healthcare products, and e-commerce transportation saw a significant increase in demand. Thus, which positively impacted the growth of the global PCR PET market.

Figure: Asia-Pacific PCR PET Market Revenue, 2021-2027 (US$ Billion)

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Global PCR PET Market Segment Analysis – By Application

Bottles held the largest share in the global PCR PET market and is expected to continue its dominance over the period 2022-2027. Bottles and jars made from Post-Consumer Resin (PCR) are becoming increasingly popular in the packaging sector, with PET containers in the forefront. PET (Polyethylene Terephthalate) is one of the most widely used plastics in the world, and it is also one of the easiest to recycle. Since PET is made mostly from fossil fuels, manufacturers of polyethylene terephthalate (PET) with PCR content have a high priority as a result of this. These bottles can be made with anything from 10% to 100% PCR content, though incremental content percentages do necessitate Brand Owners' willingness to sacrifice clarity and color aesthetic. Thus, the increasing usage of global PCR PET in applications such as bottles is further estimated to incline the market growth.

Global PCR PET Market Segment Analysis – By End-Use Industry

The packaging sector dominated the global PCR PET market with 53% in 2021 and is projected to grow at a CAGR of 6.2% during 2022-2027. With the rising growth of the packaging sector, the market for global PCR PET is further estimated to rise. For instance, as per Invest India, the Indian packaging market was valued at US$ 50.5 billion in 2019, and it is predicted to reach US$ 204.81 billion by 2025, growing at a CAGR of 26.7% between 2020 and 2025. In recent years, rising growth of the food and beverage, pharmaceutical, and personal care and cosmetic sectors has raised the need for e-commerce sales, thus has positively impacted the growth of the packaging sector and also raised the growth of the PCR PET industry.

Global PCR PET Market Segment Analysis – By Geography

Asia-Pacific region dominated the global PCR PET market with a share of 42.5% in 2021. The market in the region is witnessing expansions with the rising growth of the packaging sector in the emerging economies such as China, India, and Japan. For instance, in the midst of the e-commerce boom, the packaging business is seeing rapid expansion which is also considered as one of the major reasons behind the driving growth of the global PCR PET industry. For instance, the e-commerce segment of the packaging industry was valued at US$ 451.4 million in 2019 and is expected to grow at a 13.8% annual rate to US$ 975.4 million by 2025 as per the India Brand Equity Foundation. Thus, with the growth of the packaging sector, the demand for PCR PET is estimated to rise in the APAC region over the forecast period.

Global PCR PET Market Drivers

Advantages associated with PCR PET

The reliance on fossil fuels can be lessened while improving the environmental impact of packaging by minimizing the amount of garbage that ends up in landfills by employing PCR. PCR (post-consumer recycled plastic) is the most sensible option. It is less expensive, more readily available, and has a bigger positive impact than other options. For instance, making 100% PCR Polyethylene Terephthalate (PET), such as in a water bottle, has a carbon footprint that is 60% lower than virgin PET - and that includes the energy used to collect, recycle, and remanufacture the plastic. It also reduces landfill dumping and can be recycled again for new manufacturing. Thus, due to such advantageous properties the demand for PCR PET is estimated to rise over the projected period.

Growing recycling programs will drive the PCR polyethylene terephthalate market

Owing to several recycling programs, there will be a growth in the supply of PCR polyethylene terephthalate. For instance, the United States Environmental Protection Agency (EPA) came up with EPA Recycling and Litter Prevention Program 2021 program which helps support businesses and academic institutions to initiate recycling programs, encourage sustainable practices, and support litter prevention efforts. The U.S. recycling infrastructure and programs will influence the amount of PET that is available to facilities to help them produce rPET made out of these plastic resins. According to an article by the International bottled water association, the association has approved an innovative framework for a material recovery program that helps in developing new, comprehensive solutions which to increase recycling processes throughout the United States. Thus, due to which the global PCR polyethylene terephthalate market will rise over the forecast period.

Global PCR PET Market Challenges

Drawbacks Associated with PCR PET

One of the major challenges faced by the PCR PET market is its drawbacks. The required reheating process changes the color and clarity of the bottle when recycled; as the concentration of PCR increases, the appearance darkens gradually. This can be mitigated by the use of colorants, but these bottles are generally more appropriate for products that do not require crystal clear packaging – especially after the 25% ratio. Currently, as the brand owners who use virgin PET demand higher PCR content, the market for global PCR PET is estimated to expand – which is especially important given the current low recycling rates (PET recycling rate in the US is 24%, NAPCOR). Thus, due to such factors the global PCR PET market is anticipated to face challenges in the upcoming years.

Global PCR PET Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the global PCR PET market. Global PCR PET top 10 companies include:

1. Amcor plc
2. Bemis Company Inc.
3. Tetra Laval International SA.
4. Mondi
5. WestRock Company
6. Smurfit Kappa
7. Sealed Air
8. Indorama Corporation
9. Gerresheimer AG
10. Crown Holdings and others

Recent Developments:

  • In February 2019, Indorama Corporation announced the acquisition of M&G Fibras Brazil, which is one of Brazil's largest PET producers. This acquisition will be extremely beneficial not only to both companies, but also to the Brazilian economy.

Relevant Reports:

PSF from PET Recycled Bottles Market - Forecast(2022 - 2027)

Report Code: CMR 1071

Bio-Pet Market - Forecast(2022 - 2027)

Report Code: CMR 0804

Crystalline Polyethylene Terephthalate Market - Forecast(2022 - 2027)

Report Code: CMR 0313

1.       Global PCR PET Market- Market Overview

1.1  Definitions and Scope

2.       Global PCR PET Market - Executive Summary

2.1     Key Trends by Type

2.2     Key Trends by Grade

2.3     Key Trends by Application

2.4     Key Trends by End-Use Industry

2.5     Key Trends by Geography

3.       Global PCR PET Market – Comparative analysis

3.1  Market Share Analysis- Major Companies

3.2  Product Benchmarking- Major Companies

3.3  Top 5 Financials Analysis

3.4  Patent Analysis- Major Companies

3.5  Pricing Analysis (ASPs will be provided)

4.       Global PCR PET Market - Startup companies Scenario Premium

4.1  Major startup company analysis:

4.1.1         Investment

4.1.2         Revenue

4.1.3         Product portfolio

4.1.4         Venture Capital and Funding Scenario

5.       Global PCR PET Market – Industry Market Entry Scenario Premium

5.1     Regulatory Framework Overview

5.2     New Business and Ease of Doing Business Index

5.3     Successful Venture Profiles

5.4     Customer Analysis – Major companies

6.       Global PCR PET Market - Market Forces

6.1     Market Drivers

6.2     Market Constraints

6.3     Porters Five Force Model

6.3.1      Bargaining Power of Suppliers

6.3.2      Bargaining Powers of Buyers

6.3.3      Threat of New Entrants

6.3.4      Competitive Rivalry

6.3.5      Threat of Substitutes

7.       Global PCR PET Market – Strategic Analysis

7.1  Value/Supply Chain Analysis

7.2  Opportunity Analysis

7.3  Product/Market Life Cycle

7.4  Distributor Analysis – Major Companies

8.       Global PCR PET Market – By Type (Market Size -US$ Million/Billion)

8.1  Mechanical PCR

8.2  Chemical PCR

8.3  Biological PCR

9.       Global PCR PET Market – By Grade (Market Size -US$ Million/Billion)

9.1  Textile Grade

9.2  Bottle Grade

9.3  Film Grade

10.  Global PCR PET Market – By Application (Market Size -US$ Million/Billion)

10.1Fiber

10.2Sheet and Film

10.3Bottles

10.4Thermoforming Trays

10.5Nonwoven

10.6Others

11.  Global PCR PET Market – By End-Use Industry (Market Size -US$ Million/Billion)

11.1Packaging

11.1.1    Food & Beverages

11.1.2    Pharma Products

11.1.3    Personal Care Products

11.1.4    Others

11.2Non-packaging

11.2.1    Sportswear

11.2.2    Shoes

11.2.3    Home Textiles

11.2.4    Industrial Textiles

11.2.5    Strapping

11.2.6    Others

12.  Global PCR PET Market - By Geography (Market Size -US$ Million/Billion)

12.1 North America

12.1.1    USA

12.1.2    Canada

12.1.3    Mexico

12.2 Europe

12.2.1    UK

12.2.2    Germany

12.2.3    France

12.2.4    Italy

12.2.5    Netherlands

12.2.6    Spain

12.2.7    Russia

12.2.8    Belgium

12.2.9    Rest of Europe

12.3 Asia-Pacific

12.3.1    China

12.3.2    Japan

12.3.3    India

12.3.4    South Korea

12.3.5    Australia and New Zealand

12.3.6    Indonesia

12.3.7    Taiwan

12.3.8    Malaysia

12.3.9    Rest of APAC

12.4 South America

12.4.1    Brazil

12.4.2    Argentina

12.4.3    Colombia

12.4.4    Chile

12.4.5    Rest of South America

12.5 Rest of the World

12.5.1    Middle East

12.5.1.1 Saudi Arabia

12.5.1.2 UAE

12.5.1.3 Israel

12.5.1.4 Rest of the Middle East

12.5.2    Africa

12.5.2.1 South Africa

12.5.2.2 Nigeria

12.5.2.3 Rest of Africa

13.  Global PCR PET Market – Entropy

13.1New Product Launches

13.2M&As, Collaborations, JVs and Partnerships

14.  Global PCR PET Market Industry/Segment Competition Landscape Premium

14.1Company Benchmarking Matrix – Major Companies

14.2Market Share at Global Level – Major companies

14.3Market Share by Key Region – Major companies

14.4Market Share by Key Country – Major companies

14.5Market Share by Key Application – Major companies

14.6Market Share by Key Product Type/Product category – Major companies

15.  Global PCR PET Market – Key Company List by Country Premium Premium

16.  Global PCR PET Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments

16.1Company 1

16.2Company 2

16.3Company 3

16.4Company 4

16.5Company 5

16.6Company 6

16.7Company 7

16.8Company 8

16.9 Company 9

16.10 Company 10 and more

* "Financials would be provided to private companies on best-efforts basis."