Latin America Recycled Polyethylene Terephthalate (PET) Market Report Description:
Latin America market report gives comprehensive outlook on Recycled Polyethylene Terephthalate (PET) across the globe with special emphasis on key countries such as Brazil, Mexico, Argentina, Venezuela and Rest of Latin America. The report on Latin America Recycled market gives historical, current, and future market sizes (US$ Mn) on the basis of Product, End User and region. This report studies Latin America market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Latin America market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Latin America market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Latin America market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in Latin America Recycled Polyethylene Terephthalate (PET) products.
The Latin America market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. The key factors that are responsible for the market growth include huge R&D investments, increasing awareness among general populace about plastic wastage and changing end-user perception towards sustainable sourcing of bottling materials. In addition, increasing per capita income, coupled with rising FMCG industry, is helping the market flourish in the region.
Increasing Awareness among Consumers Regarding Environmental Sustainability
In recent times, consumers have become more conscious towards environmental sustainability, which has benefitted the growth of the market. In addition, ban on landfills introduced in several developed countries in North America and Europe is anticipated to drive the rPET market over the forecast period. In addition, increasing awareness among general populace about plastic wastage has prompted governments to take initiatives that are aimed at promoting plastic recycling, which in turn boosted polyethylene terephthalate recycling landscape. Furthermore, bottling companies across the Latin America are gradually adopting to recycled PET in order to establish sustainable material sourcing strategies.
Brazil Accounts for Larger Market Revenue Share in Latin America Market
Brazil accounted for larger revenue share in Latin America market with considerable CAGR. Spiraling demand for food and non-food bottles across a large number of end-use industries and improving economic conditions are the major factors fueling the demand for rPET in Brazil.
- Zhejiang Anshun Pettechs Fiber Co. Ltd (China)
- Verdeco Recycling (U.S)
- Polyquest (U.S)
- M & G Chemicals (Luxembourg)
- Indorama Ventures Public Ltd. (Thailand)
- Haiyan Haili Green Fiber Co., Ltd. (China)
- Evergreen Plastics (Ohio)
- Ecostar Plastics (Placon) (U.S)
Latin America market is surging owing to frequent acquisitions and launchings by the market players. For Instance, the companies are actively involved in the collection, processing of used plastics, and production of new rPET products and even distribution of the same. Market players are focusing towards provision of greater quality products to retain customer loyalty, since low switching costs and product differentiation have reduced supplier power in recent years.
Key Findings of the Report:
- Latin America Recycled Polyethylene Terephthalate (PET) market expanding at significant CAGR over 2019 to 2025 due to rising awareness among general populace about plastic wastage.
- Based on End User, Fiber segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in Latin America market
By End User
- Non-Food Containers and Bottles
- Sheet and Film
- Food & Beverage Containers and Bottles
- Latin America
- Rest of Latin America
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market