Recycled Polyester (RPET) Fiber Market Size, Share, Growth, and Industry Analysis by Type (Cotton Spinning Material, Non-woven & Others), By Application (Home Textiles, Automotive Interior, Construction Materials, Hygiene and Healthcare & Others) Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

RECYCLED POLYESTER (RPET) FIBER MARKET REPORT OVERVIEW

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global recycled polyester (RPET) fiber market size was USD 12285.21 million in 2021 and market is projected to USD 28320.15 million by 2031 at CAGR 8.71% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with recycled polyester (rPET) fiber experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Recycled polyester (rPET) fiber is commonly known as rPET. It is made by melting down plastics to create polyester fibers, such as PET bottles. Recycled polyester is produced with fewer resources and carbon emissions than new polyester fibers. It has become the most popular fiber in the textile industry due to its low cost, adaptability, high strength, simple stretchability, recyclability, elasticity, and excellent resistance to abrasion, wrinkles, and fungus. These fibers can be used as insulation because they are hollow, hydrophobic, and dry quickly.

In contrast to RPET, which can be used to create products like blankets, insulation, car parts, shoes, and more, PET is a robust, resilient, and recyclable material that is used for soda bottles, water bottles, and food jars. Spun yarn was regarded as a more environmentally friendly product. It does so by preventing plastic from ending up in landfills and the ocean. Numerous brands are using recycled polyester (rPET) fiber more frequently as an environmental marketing claim for their apparel and footwear products. To meet the demands of those who care about the environment, importers and brands might want to make higher-value products using recycled materials.

COVID-19 Impact: Industry Imbalance Causes Market Distortion

For advance materials, the COVID-19 outbreak resulted in issues like unstable markets, a decline in client confidence, and challenges with import and export business. The global supply chain includes the sourcing of raw materials, packaging, and distribution. Moving commodities, chemicals, and other items has become challenging due to lockdowns. It had a financial impact on the markets for equipment in addition to having an immediate impact on markets, supply chains, supply and demand, and all of these other things. Producers of material are focusing on protecting their workforce, operations, and supply networks in order to handle this urgent situation. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall advanced materials industry. This has partially impacted the recycled polyester (rPET) fiber industry.

LATEST TRENDS

"Growing Application Industries to Boost the Market Growth"

The main trend that is anticipated to boost the market in the forecast period is the rise in demand and use of recycled polyester (rPET) fiber in a variety of industries. The polyester fiber is widely used in a variety of industries, including filtration, textile, construction, and home furnishings. The growing demand for polyester fiber, which is also regarded as the most suitable, thinner, and less expensive alternative among other fibers, is being driven by the consumer preference for sustainable fashion and the textile industry. Due to its antimicrobial properties, recycled polyester is also high-tech in nature and offers superior defense against unpleasant odors and other infections. The demand for the product is rising further as a result of these superior qualities, assisting market expansion. The industry is anticipated to grow during the forecast period thanks to this trend. Thus, it is anticipated that the increasing industry application will increase overall market sales. These new developments and varieties in product are mostly to blame for the market's overall growth.

RECYCLED POLYESTER (RPET) FIBER MARKET SEGMENTATION

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• By Types 

Based on type, the market is classified into Cotton Spinning Material, Non-woven & Others.

• By Application

Based on the market is categorized into Home Textiles, Automotive Interior, Construction Materials, Hygiene and Healthcare & Others.

DRIVING FACTORS

"Adoption of Sustainable Products that Gives the Market Extra Boost"

The adoption of sustainable products is the main factor fueling market expansion. During the forecast period, it is anticipated that rising consumer demand for recycled goods will accelerate market growth. Nowadays, the majority of consumers are gradually moving toward choosing sustainable textiles made from recycled materials. This is a result of consumers becoming more and more aware of the advantages of using sustainable fiber for environmental protection. Additionally, the convenience and accessibility of eco-friendly clothing that comes in a wide range of vibrant hues, fashionable patterns, and eye-catching prints is anticipated to support the market's expansion on a global scale. This distinctive and alluring quality of recycled polyester (rPET) fiber is expected to see rapid development. The market demand is anticipated to be driven by all of these factors. As a result, the growth, and the Increasing usage of sustainable products will boost the market. It will contribute to the expansion of the advanced material industry and it will improve the overall recycled polyester (rPET) fiber market growth.

"Automotive & Healthcare Industry to Encourage Market Expansion"

The use of products in the automotive and healthcare industries is a further factor driving market expansion. Automotive upholstery fabrics are made with recycled polyester fiber. Given that polyesters are known for having good resistance to abrasion, fatigue, and other chemicals, it is anticipated that the demand for recycled polyester will rise as a result of the material's many uses in the automotive sector, including the production of car seats and other items. Due to its similar water absorption and cooling properties to natural fibers, recycled polyester is used in personal care and hygiene products. It also shares traits with other petroleum-based fabrics like heat and chemical resistance, oil repellence, non-flammability, dimensional stability, and stretch resistance. Over the course of the forecast period, the aforementioned factors are anticipated to affect sales of the industry. This will increase demand for the product and help the industry as a whole to expand. The product line expansion is helping the market to grow.

RESTRAINING FACTORS

"Side effect of Products to Impede Market Expansion"

Recycled polyester is the limiting factor that is slowing the market's expansion. When food and beverages are stored in PET packaging and have a long shelf life, the taste of the products can deteriorate because PET resins can oxidize. Because of the potential for bacteria, recycled polyester cannot be used to make food containers or packaging. Therefore, during the forecast period, these factors are anticipated to restrain market growth. But as time goes on, this issue will be resolved in some way. If this problem is fixed, the market will start to grow right away.

RECYCLED POLYESTER (RPET) FIBER MARKET REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe"

The market for body recycled polyester (rPET) fiber in North America has benefited from the region's expanding industrial development and a number of driving factors that have boosted the potential sectors because this region is the product's primary user. The rising product use in textiles, automotive interior, construction materials, hygiene and healthcare sectors is boosting the recycled polyester (rPET) fiber market share. Trends toward rapid urbanization will support the market as a whole even more.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

•   JB Ecotex (India)
•   Indorama Ventures (U.S.)
•   Unifi (U.S.)
•   Martex Fiber (U.S.)
•   Pt Inocycle Technology (Indonesia)

REPORT COVERAGE

The market segmentation by type and application is covered in great detail in the study. A wide range of participants, including current and potential market leaders, are examined in the study. A number of significant factors are expected to lead to a sizeable market expansion. In order to gain market insights, the research also looks at factors that could raise the share of recycled polyester (rPET) fiber. Forecasts for market growth over the anticipated time period are made in the report. Explaining why one region dominates the global market is the goal of regional research. A number of properly considered factors limit the industry's ability to expand. A strategic analysis of the market is also included in the research. It contains comprehensive market data.