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ALBANY, N.Y., April 27, 2021 /PRNewswire/ -- Recycled polyethylene terephthalate, which in industry parlance is known as RPET, is the most widely recycled plastic in the world. According to the PET Resin Association, in 2012, the European Union registered 52% recycling rate higher than about 31% registered in the U.S. In fact, in 2015, nearly 1.8 billion pounds of polyethylene terephthalate (PET) worldwide were recycled to make a variety of end products. These include polyester carpet fiber, athletic shoes, and fabric for T-shirts among others. Importantly, the use of recycled PET in place of virgin PET results in reduced energy consumption, reduced environmental impact, and lower cost. Request for Covid-19 Impact Analysis on Recycled PET Market: https://www.transparencymarketresearch.com/Covid19.php Meanwhile, According to the U.S. EPA, 1% of municipal solid waste in the country is related to PET containers. To curb this, post use, PET material is collected via curbside recycling process that involves both single-stream and dual-stream approaches. The PET collected is sorted at material recovery centers, and baled for shipment to a PET recycling facility. Coming back to the advantages of recycling of PET, most plastic products end up in landfills or run into water bodies. The land and air pollution associated with overflow of landfills poses health hazards for populations, and loss of aquatic life with plastic-associated water pollution in water bodies. Such serious consequences have led to conceptualization and implementation of robust recycling programs in place undertaken and enforced by public welfare agencies. The overwhelming support for recycling programs from different types of organizations, predominantly recycle of PET, has led to the existence of a billion-dollar recycled PET market. With continued support and anticipation of even robust process frameworks, the recycled PET market is projected to exceed a valuation of US$ 11.9 bn by 2031. Recycled PET Market Key Findings of the Report Vast Unknown Demand for Personal Protective Equipment to Combat Ongoing COVID-19 creates Handsome Growth Opportunities The vast demand for PPE such as facemasks and visors for health caregivers and frontline workers in the ongoing COVID-19 pandemic has provided undisclosed opportunities for the recycled PET market. In fact, the coronavirus pandemic has unfortunately sent a shockwave through the entire plastic recycling industry. The slowdown of plastic collection, drop in the prices of virgin PET has impacted the demand for recycled PET. Howbeit, in this crisis, the urgent need for PPE in very large numbers compelled plastic product manufacturers to use recycled PET, thus translating into handsome opportunities for the recycled PET market. In addition, this has enabled manufacturers of plastic products to withstand losses due to reduced demand related to temporary shutdown of apparel stores and automotive facilities. Download PDF Brochure- https://www.transparencymarketresearch.com/sample/sample.php R&D for Innovations in PET Monomer Recycling to help Develop Process to Eliminate Fiber, Food-grade Resin Impurities Savvy players in the recycled PET market are engaging in collaborations and business partnerships for innovations in recycling processes. AXENS, JEPLAN, and IFPEN have entered into an agreement for jointly developing and commercializing a novel PET monomer recycling process for all types of waste PET materials. Therefore, to accomplish this, large companies in the recycled PET market are expanding their R&D capabilities. Integration of new recycling processes involving glycolysis-based PET depolymerization, along with specific purification steps for the removal of organic and inorganic compounds indicates evolution of recycled PET processes. This spawns a new growth dimension in the recycled PET market. View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/82056 Recycled PET Market Growth Drivers Earnest efforts of beverage brands for 100% recycled PET bottles for circular plastic packaging goals widens expanse of recycled PET market. Intense programs to prevent plastic waste to run into landfills, water bodies indirectly fuels growth. Recycled PET Market Key Players Phoenix Technologies International LLC UltraPET LLC CarbonLITE Industries LLC PETCO Evergreen Plastics Inc. Seiu Japan Co. Ltd. Marglen Industries Indorama Ventures Public Company Limited ALPLA JP Recycling Ltd Extrupet Group Ltd Verdeco Recycling Inc. Custom Polymers Inc. PolyQuest Purchase Premium Research Report on Recycled PET Market @ https://www.transparencymarketresearch.com/checkout.php Explore Transparency Market Research's award-winning coverage of the global Chemicals and MaterialsIndustry, Liquid Polybutadiene [LPBD] Market - https://www.transparencymarketresearch.com/liquid-polybutadiene-market.html Hydrocarbon Resins Market - https://www.transparencymarketresearch.com/hydrocarbon-resins-market.html Explore More Upcoming Reports:https://www.transparencymarketresearch.com/upcoming.htm About Transparency Market Research Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact Mr. Rohit Bhisey Transparency Market Research State Tower,90 State Street, Suite 700, Albany NY - 12207 United States USA - Canada Toll Free: 866-552-3453 Email: [emailprotected]Press Release Source: https://www.transparencymarketresearch.com/pressrelease/recycled-pet-market.htmWebsite: http://www.transparencymarketresearch.com SOURCE Transparency Market Research

Answer: Vast Unknown Demand for PPE to Combat COVID-19 adds New Dimension to the Growth of Recycled PET Market, Growth projected at notable ~7% CAGR from 2021 - 2031: TMR