U.S. Recycled PET Market Size, Share, Industry Analysis, Trends, Growth, 2032

U.S. Recycled PET Industry Prospective:

The U.S. recycled PET market size was evaluated at $10 billion in 2023 and is slated to hit $15 billion by the end of 2032 with a CAGR of nearly 7.6% between 2024 and 2032.

Request Free Sample

U.S. Recycled PET Market: Overview

Recycled PET also referred to as recycled polyethylene terephthalate is a substance manufactured from plastic bottles that have been gathered, purified, and processed into new products. Moreover, PET is the best option for packaging owing to its beneficial features such as recyclability, strength, and transparency.  

Key Insights

• As per the analysis shared by our research analyst, the U.S. recycled PET market is projected to expand annually at the annual growth rate of around 7.6% over the forecast timespan (2024-2032)
• In terms of revenue, the U.S. recycled PET market size was evaluated at nearly $10 billion in 2023 and is expected to reach $15 billion by 2032.
• The global U.S. recycled PET market is anticipated to grow rapidly over the forecast timeline owing to a growing environmental benefit such as low emissions and energy conservation.
• In terms of product type, the recycled PET flakes segment is slated to register the highest CAGR over the forecast period.
• Based on service type, the packaging segment is predicted to dominate the segmental growth in the upcoming years.
• Region-wise, the Northeast recycled PET industry in the U.S. is projected to register the fastest CAGR during the projected timespan.

Request Free Sample

U.S. Recycled PET Market: Growth Factors

Huge demand for recycled PETs in various end-use sectors to boost the market growth in the U.S.

Growing environmental benefits such as low emissions and energy conservation will drive the growth of the U.S. recycled PET market. For instance, recycled PET notably reduces energy usage along with minimizing GHG emissions. Citing an instance, recycled PET can minimize overall energy usage by 80% and GHG by nearly 68% in comparison to conventional PET. Large-scale use of recycled PET in jackets, playground devices, carpets, and insulation will steer the expansion of the market in the U.S. Huge customer demand for recyclable products and strict government laws related to minimizing plastic footprints can obstruct the expansion of the market in the country.

U.S. Recycled PET Market: Restraints

An increase in product costs can inhibit the growth of the industry by 2032

Quality degradation and contamination can obstruct the growth of the U.S. recycled PET industry. Furthermore, soaring prices of recycling PET and high costs of innovations in recycling systems as well as a surge in investment costs for developing new products can impede the growth of the industry in the country.

U.S. Recycled PET Market: Opportunities

A surge in product differentiation to expand the market scope in the U.S. over forecast period

Escalating customer demand for renewable products and government promotions of eco-friendly products are predicted to generate new growth avenues for the U.S. recycled PET market. Furthermore, adding new features to recycling techniques has made it cost-efficient, thereby generating new growth avenues for the market in the U.S. An increase in product diversification can open new vistas of expansion for the market in the country.

U.S. Recycled PET Market: Challenges

Swift alterations in government policies to challenge the growth of the industry by 2032

Rapid changes in government policies in various states of the U.S. are likely to put a big challenge to the expansion of the U.S. recycled PET industry. Technological restrictions cannot effectively process particular kinds of PET wastes, and hence, this can restrict the industry expansion in the U.S.

U.S. Recycled PET Market: Segmentation

The U.S. recycled PET market is divided into product type, service type, and region.                                          

In terms of product type, the U.S. recycled PET market is bifurcated into recycled PET flakes, recycled PET pellets, recycled PET fibers, and recycled PET sheets segments. Additionally, the recycled PET flakes segment, which gained approximately two-fifths of the market revenue share in 2023, is forecast to record the fastest rate of growth yearly during the time interval from 2024 to 2032. The main factor fostering the segmental surge can be attributed to the demand for these products in the cleaning process for removing contaminants, thereby making the product fit for further processing.

On the basis of service type, the U.S. recycled PET industry is sectored into packaging, textiles, automotive, construction, and consumer goods segments. In addition, the packaging segment, which accrued about 67% of the industry share in 2023, is set to lead the segmental surge in the U.S. in the upcoming years. The segmental growth can be ascribed to the large-scale use of recycled PET in packaging material used in food & beverage containers, including clamshells, bottles, and trays.

U.S. Recycled PET Market: Report Scope

U.S. Recycled PET Market: Regional Insights

Southern region of the U.S. is expected to dominate the U.S. market over 2024-2032

The Southern region, which accrued two-fifths of the U.S. recycled PET market share in 2023, is set to maintain its position in the U.S. market in the years ahead. In addition to this, the regional market expansion in the forecast timeline can be attributed to favorable government guidelines regarding the use of the product in the region. Apart from this, firms in the South of the U.S. are investing massively in the production of recyclable PETs, thereby contributing to the growth of the market in the country.

The Northeast recycled PET industry in the U.S. is predicted to record the highest rate of expansion annually within the next couple of years. The growth of the U.S. recycled PET industry can be due to huge presence of the product manufacturers in the region. Moreover, use of the product in textiles, construction, FMCG, and automotive sectors in the region will drive the regional industry trends.   

U.S. Recycled PET Market: Competitive Space

The U.S. recycled PET market profiles key players such:

• Evergreen Plastics
• Verdeco Recycling Inc.
• Indorama Ventures
• Phoenix Technologies International
• Perpetual Recycling Solutions
• Mohawk Industries
• Plastipak Holdings Inc.
• Custom Polymers PET
• CarbonLITE Industries
• Far Eastern New Century Corporation (FENC)
• Envision Plastics Industries
• Schoenberg & Co. Inc.
• PolyQuest Inc.
• National Fiber Supply
• Clear Path Recycling.

The U.S. recycled PET market is segmented as follows:

By Product Type

• Recycled PET Flakes
• Recycled PET Pellets
• Recycled PET Fibers
• Recycled PET Sheets

By Service Type

• Packaging
• Textiles
• Automotive
• Construction
• Consumer Goods

By Region

U.S.

• Northeast
• Midwest
• South
• West