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Recycled PET Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A23208
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Recycled PET Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| Recycled PET | Polymer & Resin | USA | 1479 USD/MT |
| Recycled PET | Polymer & Resin | China | 845 USD/MT |
| Recycled PET | Polymer & Resin | Germany | 970 USD/MT |
The price of recycled PET in the United States for Q4 2023 reached 1479 USD/MT in December. The American recycled PET market demonstrated comparatively better performance than other global markets, although prices remained consolidated within a narrow range. Market demand from the packaging and plastic industries significantly influenced these trends. Overall, the period exhibited largely mixed market patterns.
The Chinese recycled PET market experienced a marginal price increase from October to November, followed by a decline in the subsequent months. Monthly average prices rose from approximately 1055 USD/MT in October 2023 to around 1025 USD/MT by December 2023. These fluctuating price patterns reflected largely mixed market sentiments in the Asian recycled PET market during this period.
In line with overall European trends, Germany's recycled PET prices also experienced a downward trajectory in the final quarter of 2023. The European recycled PET market mirrored the Asian market's behavior in the final quarter of 2023. With a declining trend in feedstock PET prices, recycled PET prices also trended downward. Overall, the market experienced an average performance during Q4 2023.
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 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 price trends.
Global Recycled PET Price
The report offers a holistic view of the global recycled 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 Recycled PET Price
In Q4 2023, the European recycled PET market mirrored the declining trends observed in the Asian market, with falling feedstock PET prices leading to a similar decrease in Recycled PET prices. The overall market performance during this period was notably average.
This analysis can be extended to include detailed recycled PET price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Recycled PET Price
In Q4 2023, the American recycled PET market outperformed other global markets, although prices remained consolidated within a narrow range. Market trends were driven by demand from the packaging and plastic industries. Overall, the market exhibited largely mixed patterns during this period.
Specific data on recycled PET prices within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Recycled PET Price
The report explores the recycled PET pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on recycled PET prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Recycled PET Price
In Q4 2023, the Asian recycled PET market experienced regional price variations. Influenced by the market behavior of its feedstock PET, the prices of Recycled PET fluctuated within a narrow range.
This analysis can be further extended to include detailed recycled PET prices for a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
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.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Recycled PET |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
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.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
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