Recycled PET Market Dynamics: Key Drivers, Challenges, and Restraints
Rising sustainability goals are propelling the r-PET market, forecast to expand at an 8.9% CAGR, reaching US$23,821.6 Mn by 2032. Major drivers include demand from packaging, textiles, and automotive industries. Asia Pacific leads with 45% market share, followed by Europe and North America, which also show solid growth. While innovation in recycling and collaborative projects boost opportunities, inadequate infrastructure and collection systems remain persistent challenges to overcome for global scale-up.