Recycled PET Prices

Recycled PET Prices December 2023

The recycled PET prices in the United States for Q4 2023 reached 1479 USD/MT in December. The market saw stable pricing and consistent supply levels, primarily due to modest consumption and surplus stock within the packaging and beverage sectors. Despite stable demand from various industries, the market sentiment was dampened by a slowdown in recycling operations and weaker overseas demand.

The price trend for recycled PET in China for Q4 2023 reached 1055 USD/MT in December. The Chinese rPET market witnessed a challenging period in the last quarter of 2023, marked by decreased demand for recycled materials and a significant drop in market value. The availability of scrap PET kept manufacturing expenses low, but high supply levels and weak trading activities contributed to a bearish pricing trend, complicating recovery efforts.

The price trend for recycled PET in Germany for Q4 2023 reached 970 USD/MT in December. Germany experienced a notable decline in rPET prices due to high supply and low demand. The market struggled with the influx of post-consumer products and competitive pricing from virgin PET. This led to a challenging environment for recyclers and a continued bearish trend in market conditions.

Recycled PET Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Recycled PET Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of recycled 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 price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing recycled 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.

Recycled PET Market Analysis

The global recycled PET market size reached US$ 6.67 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 11.46 Billion, at a projected CAGR of 6.20% during 2023-2032.

• Public environmental consciousness is rising, and the demand for sustainable materials is increasing among them, such as PCR PET. This trend is particularly strong in developed markets where consumers are willing to pay a premium for eco-friendly products.
• Stringent laws and policies of plastic waste reduction that are in place are propelling the usage of recycled materials. Governments across the globe are implementing laws mandating manufacturers to include a percentage of post-consumer content in their packaging, thus enhancing the market.
• Many companies have put up lofty low- or zero-carbon emission goals, most of them targeting the use of recycled raw materials in their end products. This corporate drive for sustainability has strongly built up a demand for rPET as organizations are working to fulfill their environmental commitments.
• Process advancements in recycling technology are increasing the process efficiency and quality of rPET production. These developments make recycled PET more competitive with virgin PET in terms of properties and cost, thereby driving its acceptability.
• Packaging is one of the largest applications of PET, and escalating calls for sustainability have increased the uptake of recycled PET by packagers worldwide. This factor is strongly propelling the market for recycled PET.
• The economic advantages of using rPET, in terms of the reduction in material cost and sometimes even tax incentives, are grabbing the attention of manufacturers. These financial advantages encourage more companies to incorporate it into their products.
• Extensive investment in recycling infrastructure helps in increasing the collection and processing of PET waste. Improved infrastructure ensures a steady supply of high-quality rPET, bolstering market growth.
• There is an increasing demand for products manufactured for firms that need rPET in their products.
• Companies are adopting sustainable practices, including the use of rPET, and are treated as prime differentiators in a competitive market. They are liked by consumers who show a preference for such brands.
• The world is moving towards a circular economy, which is helping in using various recycled materials. The circular economy initiatives have recycling and reusing materials as one of their major focuses, due to which the demand for recycled PET is driven.

Recycled PET News

The report covers the latest developments, updates, and trends impacting the global recycled 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 recycled PET production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the recycled PET industry:

• April 23, 2024: Festo and Phoenix Technologies reported concluding a strategic technology partnership. The first devices with integrated PLCnext Technology are anticipated to reach the market by the end of 2024. Both companies regard this as a decisive step forward in the innovation of industrial automation.
• September 12, 2023: Bangkok-headquartered and Indian majority-owned Indorama Ventures Public Co Ltd is investing USD 150 million in three PET recycling plants in India, aiming to start commercial production in 2026. Recycled PET from the three plants will supplement Indorama Ventures' current 800,000 tonne/year PET production for the Indian and export markets.

Product Description

Recycled polyethylene terephthalate (rPET) represents a significant advancement in sustainable materials, derived from post-consumer PET products such as plastic bottles and containers. Through advanced recycling processes, PET waste is transformed into high-quality rPET, retaining the material's original properties, including durability, clarity, and strength. This recycled material is widely used in various industries, including packaging, textiles, and automotive, contributing to reduced environmental impact by minimizing landfill waste and lowering carbon emissions.

Additionally, rPET production requires less energy compared to virgin PET, further enhancing its ecological benefits. As a versatile and cost-effective alternative, rPET supports circular economy initiatives, encouraging the continuous reuse of resources. Moreover, rPET embodies an essential component in the transition towards a more sustainable and resource-efficient global economy.

Regional Coverage

The report provides a detailed analysis of the recycled 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, price forecast 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 recycled PET price trend.

Global Recycled PET Price

The report offers a holistic view of the global recycled PET pricing trends in the form of recycled PET price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into recycled PET historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into recycled PET price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed recycled PET demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Recycled PET Price

The market for rPET  in Europe experienced stability in supply in Q4 2023, attributed to continuous inflow of the product, but faced challenges due to lower demand. The appeal of virgin PET's lower prices and a hike in rates for the collection of post-consumer goods created a surplus of raw materials, affecting market balance. Moreover, lower demand projections from sectors like recycled packaging and beverage bottles, especially in comparison to virgin PET, further strained the market. Germany, specifically, saw a notable dip in rPET rates amid this surplus. Despite these conditions, demand for recycled products shows potential for impacting market dynamics positively in the future.

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

North America Recycled PET Price

The rPET prices in North America maintained a stable trend in Q4 2023, buoyed by steady demand for recycled products used in various sectors like clothing and packaging. Ample accessibility of scrap PET ensured cost-effective manufacturing, boosting a robust supply. However, reduced recycling operations and weaker international demand influenced the market environment. While demand from the end-use sectors like automobile and construction offered some support, overall trading remained subdued due to sufficient stocks in the packaging and beverage sectors, contributing to price stability. Throughout the quarter, the U.S. market experienced continuous supply levels and moderate demand, with no major shifts in price trends or plant shutdowns reported.

Specific recycled PET historical data within the United States and Canada can also be provided.

Middle East and Africa Recycled PET Price

The rPET market in the Middle East and Africa displayed a bearish trend during the fourth quarter of 2023. High supply levels, driven by abundant scrap PET, kept production costs low, yet demand from key sectors like textiles and bottles stayed subdued. Support came from consistent demand in industries like construction and automobile, stabilizing the market to a small extent. Challenges arose from falling virgin PET prices and a surge in collection rates of post-consumer goods, complicating market recovery efforts for recyclers. Despite these hurdles, Saudi Arabia's market exhibited modest demand and supply, though overall trading activity in the region remained limited.

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

Asia Pacific Recycled PET Price

The Asia-Pacific rPET market encountered difficulties in Q4 2023, driven by lower consumption in industries producing recycled packaging and bottle products. Surplus accessibility of scrap PET led to low manufacturing expenses and a high market supply, but demand stayed weak. The downturn in trading operations also pressured prices, exacerbated by declining virgin PET prices and a higher rate for collection of post-consumer goods, complicating efforts for market recovery. This quarter also saw no disruptions in production. The APAC market, particularly in China, witnessed significant value drops, underlining a challenging environment for recyclers as they navigated an increasingly competitive market landscape.

This recycled PET price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Recycled PET Price

The analysis of recycled 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 recycled 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 recycled PET price volatility, 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 recycled PET industry.