26 August, 2021
Raleigh, North Carolina, August 26, 2021: Asia has the highest number of R-PET suppliers with a capacity market share of 48 percent, which is higher than Europe and the U.S.
Roughly around of 48 percent R-PET manufacturers are in China as opposed to approximately 43 percent in Europe followed by North America and the Middle East. The huge volumes available in these markets will result in lots of global R-PET suppliers investing in the recycling sector, thus, prompting demand for food-grade recycled products from the bottle-to-bottle market.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE.Ai: https://www.beroeinc.com/beroe-live-ai/
The R-PET pricing was on the lower end during the first quarter of 2021 owing to high demand from the virgin PET market. The supply situation is however expected to improve between the third and fourth quarter of 2021 with the possibility of price softening in the virgin market. Many big brands have announced their intent to eliminate virgin PET consumption and fossil fuel-based plastic usage to achieve their 100 percent target towards lower carbon emissions per bottle.
The recycling industry took a heavy fall under the Covid-19 impact. The financial impact of the coronavirus and related fall in virgin polymer values resulted in substitution away from recycled polymers in Europe, postponement of decisions related to investments, delayed projects, and much lower demand from the end-users. The effect of the pandemic was palpable on virgin PET vs. R-PET pricing. A fall in the virgin polymer industry resulted in substitution away from recycled polymers in Europe. By 2021, investments in the recycling sector will give way to an increased scope for extrusion technology in Europe to meet the increased demand for food-grade R-PET from the bottle-to-bottle market.
Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions — leading to lower costs, greater profits, and reduced risk. Beroe has been providing these services for more than 15 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies. For more information about Beroe Inc., please visit https://www.beroeinc.com/.
Join us on Oct 6 for a webinar on Managing Inflation and Supply Shortages