The concern for Recycled Polyester staple Fibre, Polyester sheets/Films and Polyester straps namely PET (RPET) has escalated in the recent years, reports Industrial Market Research.
PET bottles constitute major market of PET packaging resin with 94 percent form the most important part of recycling.
Around 90 percent of PET is consumed in food packaging whereas the drinks/beverages form 80 percent of the food packaging segment.
Residential houses, railway stations, restaurants, entertainment venues, airports, where drinks and beverages are consumed in large quantities show organized collection and recycling of post-consumer PET bottles.
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India is experiencing widely growing trend in recycling of PET, for the last couple of years.
Besides, the markets for bottle-to-bottle recycling, more and more of PET are being used in the manufacture of fibres, PET sheets and PET straps.
Currently, the textile fibres and filaments industries account for above ~% of the overall recycled polyester demand.
Further growth in this segment is limited due to lower profit margin that enhance the usage of recycled PET into the food and non-food containers, industrial yarn, mono filaments, strapping, film, sheet, and building materials such as foam boards which are becoming the targeted end markets for recycled PET flakes.
India Recycling PET Industry includes Recycled PET Staple Fibre, Recycled PET straps and Recycled PET Sheets/Films.
Due to the growing demand for PET flakes and surge in the production of fibres and sheets, the recycled PET market revenues boosted by ~% in FY’2013 compared to FY’2012.
This recorded an annual market growth rate of 29.9 percent relative to FY’2013.
Indian recycling PET industry has been largely dominated by the PET Staple fibre segment which contributed massive share of ~% in the overall revenues of the recycling industry during FY’2014.
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The staple fibre segment has dominated the recycling PET industry both in production volume and revenue. Polyester sheet has been the second largest market of the recycled PET industry which contributed a nominal share of ~% during FY’2014.
PET sheets are a quality sensitive product and producers prefer virgin polyester to manufacture PET sheets/films, which caused their low market share.
PET Straps has been the third largest market of recycled PET Industry in terms of revenues, while it has been the second largest market in terms of production volume.
PET Straps contributed a smaller share of ~% during FY’2014 due to the fact that the production of PET strap has been relatively lower.
Sabeena Wahid
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