R-PET Price Trend

R-PET Prices December 2023

In the fourth quarter of 2023, the market for r-PET in the USA remained stable due to a consistent supply and reasonable demand. Plentiful stocks in beverage and packaging sectors led to limited trading, maintaining stable prices. The pricing trend, seasonality, and correlation of r-PET stayed steady, with no notable percentage fluctuations during the quarter. The price of r-PET in USA for Q4 2023 reached 1494 USD/MT in December.

The r-PET market in China experienced a decrease, leading to prices falling to 856 USD/MT in December 2023. The decrease in production costs was caused by the surplus of scrap PET material, leading to a bearish trend. Even though there is enough supply and no shortages, the demand has decreased, especially from the packaging and beverage industries.

By the end of the quarter, r-PET Flakes FD Hamburg in Germany saw a significant decrease in prices, dropping to USD 974/MT. The market experienced a decline in prices because of abundant supply and weak demand, but an increase in interest in goods made from recycled materials influenced the market outlook. The price decreased compared to the previous quarter, showing market difficulties.

R-PET Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “R-PET Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of r-PET pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of r-PET price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing r-PET price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

R-PET Market Analysis

The global r-PET market size reached 4.9 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 9.5 Million Tons, at a projected CAGR of 7.70% during 2023-2032.

• r-PET is widely utilized in the packaging sector because of its outstanding strength, transparency, and food contact safety. It is frequently used in the production of bottles for drinks like water, soda, and juice. For instance, in September 2023, Sidel introduced the StarLiteR, a bottle base made from 100% r-PET, to help carbonated soft drink packaging manufacturers adopt material circularity more effectively. Moreover, containers, clamshell packaging, and trays for a variety of food items, such as fruits, salads, and ready-to-eat (RTE) meals are manufactured using r-PET. The global RTE food market reached US$ 181.5 Billion in the year 2023. The IMARC Group anticipates that the market will reach US$ 262.4 Billion by 2032, showing a growth rate (CAGR) of 4.18% between 2024 and 2032. Being environment-friendly, it is a popular choice for packaging solutions due to its capacity to safeguard the integrity and safety of food items. The demand for r-PET in the packaging industry is driven by a focus on sustainability and meeting regulatory standards.
• The shift towards a circular economy is a key factor positively influencing the market. A model of circular economy focuses on reusing, recycling, and recovering materials to establish a closed-loop system, reducing waste and environmental impact. This method is becoming more popular around the world as industries are more frequently embracing circular economy principles. In April 2024, Coca-Cola launched 500ml bottles made of 100% r-PET in Hong Kong to support recycling and sustainability efforts, with the goal of achieving completely recyclable packaging by 2025 and incorporating 50% recycled materials by 2030. This project was a component of their worldwide campaign to decrease plastic waste and promote a circular economy.
• R-PET is widely employed in the textile industry for the production of polyester fibers. These fibers are twisted into threads and materials that are later utilized for different textile purposes, such as apparel, household textiles, and industrial fabrics. For example, in November 2023, Pure Trade showcased the flexibility of recycled r-PET by designing high-quality packaging and textile products for Givenchy and Lancôme, incorporating diverse textures and elegant designs. These collections, made entirely of r-PET, emphasize sustainability and eco-friendly luxury. Additionally, r-PET fibers are frequently used in the production of sportswear, outdoor gear, and casual wear because of their strong, moisture-wicking, and comfortable qualities.
• R-PET is used to make construction materials like insulation panels, roofing tiles, and composite materials. These materials take advantage of the strength, durability, and thermal insulation features of r-PET. It is also employed in geotextiles for soil stabilization and erosion control in civil engineering endeavors.

R-PET News

The report covers the latest developments, updates, and trends impacting the global r-PET market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in r-PET production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the r-PET price trend.

Latest developments in the R-PET industry:

• August 2023: Coca-Cola India introduced its first 1-liter bottle made entirely of r-PET for Kinley, utilizing recycled PET approved by FSSAI for food contact purposes. Srichakra Polyplast created the r-PET using Starlinger's bottle-to-bottle recycling technology.
• January 2024: Circularix entered into a supply agreement with Republic Services to acquire postconsumer PET flake from Republic's Polymer Centers in order to create food-grade r-PET pellets at its Hatfield, Pennsylvania location. The goal of the agreement was to improve internal recycling abilities and back up sustainability pledges for beverage and CPG firms.

Product Description

Recycled polyethylene terephthalate (r-PET ) is a type of plastic made from recycled post-consumer PET products like beverage bottles and packaging materials using a recycling method. It consists of gathering and organizing PET waste, then cleaning, shredding it into small flakes, and melting it to create pellets. It comes in various forms, including flakes, pellets, fibers, and sheets and films, each offering distinct properties.

R-PET is appreciated for its positive effects on the environment because it assists in lessening plastic waste in landfills and oceans, decreases greenhouse gas emissions by reducing the need for new PET, and preserves natural resources. It plays a key role in circular economy principles, emphasizing the design of products for recyclability and multiple uses.

R-PET offers outstanding durability, transparency, and food-safe properties, which enable its use in various applications. Its adaptability permits usage across multiple sectors like packaging, textiles, automotive, construction, and consumer goods.

Regional Coverage

The report provides a detailed analysis of the r-PET market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the r-PET price trend. 

Global R-PET Price

The report offers a holistic view of the global r-PET pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe R-PET Price

During the fourth quarter of 2023, the European r-PET market faced obstacles characterized by a consistent supply but weak demand. Even with a steady flow of materials coming in, decreased output from key recyclers and increased collection of post-consumer products caused imbalances in supply and demand. The market faced challenges due to poor demand forecasts from industries downstream, particularly in the production of beverage bottles and packaging, despite favorable prices for virgin PET. During the first quarter of 2024, prices went up because of increased demand from packaging industries and dwindling inventory levels, as well as favorable crude oil prices. Regulatory obstacles in utilizing recycled plastics for food packaging, along with competition from virgin PET materials, have affected the market. However, increased demand and higher prices for virgin PET have enabled recyclers to raise R-PET prices. At the end of the quarter, prices continued to increase due to high demand, limited supply, and more imported goods, demonstrating strong market growth in spite of global economic difficulties.

This analysis can be extended to include detailed r-PET price information for a comprehensive list of countries.

North America R-PET Price

During the fourth quarter of 2023, pricing in the North American r-PET market remained steady due to moderate demand driven by the growing use of recycled materials in different industries. Plentiful scrap PET material resulted in a plentiful supply, but decreased operation rates from key recyclers and diminished overseas demand negatively affected market sentiment. Nevertheless, there were no reports of any plant closures, demonstrating the general resilience and stability of the market during the quarter. During Q1 2024, prices slightly increased as a result of higher post-consumer product collection and careful investment in response to uncertain downstream demand. The price hike was caused by early increases in spot resin trading due to extreme weather and logistical disruptions, as well as sustained demand driven by sustainability efforts and legislative pressures. Despite global economic pressures and occasional external logistical challenges, the market stayed stable due to effective supply chains and inventory management.

Specific data on r-PET prices within the United States and Canada can also be provided.

Middle East and Africa R-PET Price

In Q4 2023, the Middle East and Africa region saw a downturn in the market for r-PET due to high supply and low demand from the bottles and textile sectors. Nevertheless, consistent demand from the automotive and construction industries offered assistance. Decreasing prices of new PET material and difficulties in collecting used products caused complications in the market, especially in Saudi Arabia. Trading was quiet because of low demand and suppliers being reluctant to raise prices. In the beginning of 2024, Saudi Arabia began with stable prices despite worries about demand and excess supply, but experienced small rises because of occasional increase in demand and limited supply. February stayed calm despite tensions in the region, as a result of well-maintained inventories and consistent production.

In addition to region-wise data, information on r-PET prices for countries can also be provided.

Asia Pacific R-PET Price

In the fourth quarter of 2023, the Asia Pacific r-PET market faced a decrease in demand from downstream sectors, specifically for recycled beverage bottles and packaging materials. Recyclers faced obstacles due to lower prices of new PET material and a higher rate of collecting used products, impeding market expansion. There was a decrease in prices from the previous quarter, with no reported plant shutdowns. By the beginning of Q1 2024, the market was steady in terms of pricing, but by March, it decreased as a result of oversupply, poor demand, and careful buying behaviors. Temporary interruptions occurred due to seasonal stockpiling during the Lunar New Year, but adequate inventories and effective supply chains kept supply levels steady. The quarter finished with a minor recovery but still saw a decrease in prices overall, showing cautious investment and typical demand from classic industries.

This analysis can be further extended to include detailed r-PET prices for a comprehensive list of countries within the region.

Latin America R-PET Price

The analysis of r-PET prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of r-PET pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting r-PET price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the r-PET industry.