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According to the latest market research report on the Chemical Recycling Of PET Market, published by IndustryARC, Polyethylene terephthalate (PET) is a transparent, durable plastic known for its lightweight properties and full recyclability. Unlike disposable plastics, PET is highly versatile, allowing it to be reused and repurposed multiple times. It constitutes approximately 7.4% of all plastic production and is extensively utilized in the creation of packaging materials for food, as well as in films and textiles due to its strength and adaptability. Chemical recycling of PET involves breaking down polyethylene terephthalate (PET) into its original monomers using chemical processes. These monomers can then be polymerized to create new PET, maintaining its original quality without degradation. Unlike mechanical recycling, which may lead to a reduction in material quality, chemical recycling allows for a "circular" process, ensuring that PET can be recycled indefinitely with high-grade output.
The Chemical Recycling Of PET Market research report is segmented by Process: Hydrolysis, Methanolysis, Glycolysis, Ammonolysis, Aminolysis, Others; by Catalysts: Ionic Liquids, Metal Salts, Hydrotalcite, Enzymes; by Geography: North America, South America, Europe, APAC, RoW which provides a comprehensive analysis of the global market & industry forecast (2025 - 2030).
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Europe Anticipated to Show the Fastest Growth in the Market:
The Europe region shows the fastest growth rate in the Chemical Recycling Of PET Market share with a CAGR of 14.53% during the forecast period (2025-2030). In Europe, UK dominated the Chemical Recycling of PET Market in 2024. The UK PET chemical recycling market is anticipated to experience significant growth due to increasing awareness about plastic waste and its impact on the environment. The government's focus on reducing plastic waste and increasing recycling rates has also played a key role in driving growth in this market.
To enhance the use and management of plastic packaging, the UK's funding agency for science and research, UK Research and Innovation (UKRI), has disclosed that in 2023, 17 projects have been awarded funding through its Smart Sustainable Plastic Packaging (SSPP) Challenge. The second round of the SSPP Challenge's future plastic packaging solution is providing GBP 3.2 million ($3.97 million). Additionally, the government organization Innovate U.K. has granted 300,000 British pounds sterling ($370,290) to a consortium of researchers consisting of technological experts from the University of Birmingham and engineering firm Stopford to develop a novel plastic recycling technology. The UK government’s recycling targets and implemented policies to promote the use of recycled materials have created a favorable environment for the growth of the chemical recycled PET market.
Chemical Recycling Of PET Market 2025-2030: Scope of the Report
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Chemical Recycling Of PET Market Report – Key Takeaways:
- Glycolysis are Leading the Market
Glycolysis led the market with a 36.65% market share in 2024. Glycolysis is a versatile recycling process that can handle PET waste that is both clean and contaminated. It works well with many different types of PET materials, such as textiles, packaging, and even PET that contains colorants or other contaminants. Because of its flexibility, additional PET waste streams can be recycled, which is crucial as PET consumption is rising worldwide.
For instance, in January 2023, Revelau Resources, a chemical full glycolysis recycling company, declared that it has committed $50 million to its first facility in the United States as part of a strategic expansion. Stateside, Georgia will be the site of the company's new plant. Construction is expected to begin in the first half of 2023, and the facility is expected to be fully operational by 2024. With this facility, spent PET trash will be able to be recycled and processed into rPET chips and sustainable PET polymers (esters) over 225,000 pounds per day. Up to 450,000 pounds can be processed by the factory in its expanded state.
A growing number of consumers are demanding products manufactured from recycled materials as awareness of the issue of plastic pollution develops.
To address this need, manufacturers can use high-grade recycled PET using glycolysis without sacrificing product quality.
- Metal Salts Catalyst Dominate The Market Share
Metal Salts occupied a dominant position in the Chemical Recycling Of PET market in 2024. Due to several significant advantages, metal salt catalysts are becoming a growing trend for recovering PET chemicals. By reducing the activation energy required for the depolymerization process, they improve reaction efficiency by hastening the disintegration of PET into its component monomers. Recycling may become more profitable as a result of this acceleration, which can also save operating expenses and energy usage. They can selectively target PET polymers thanks to their selective breakdown capabilities, which reduces the production of unwanted byproducts. To preserve the quality of recycled PET and qualify it for high-value applications, selectivity must lead to a cleaner process and improved purity of the recycled materials.
Due to their effectiveness in converting PET polymers into useful monomers and raising the total recycling yield, metal salt catalysts are becoming more and more popular in the recycling of PET chemicals. High-quality recycled PET production depends on their ability to provide high selectivity, accelerate reaction rates, and aid in achieving more purity in recycled products.
- High Technological Advancements And Innovation Driving The Chemical Recycling Of PET Market:
Continued innovation in chemical recycling technology is required to meet the present issues of energy consumption, scalability, and environmental impact. Research into novel catalysts, process improvements, and alternative feedstocks could decrease the energy needs and costs involved with chemical recycling, propelling the PET chemical recycling market.
For instance, Axens, IFPEN, and JEPLAN formed a partnership in 2020 to develop and license a revolutionary recycling method dubbed Rewind® PET, which can be used to recycle all forms of waste PET, particularly those that are difficult to recycle mechanically. In October 2023, they announced the launch of the Rewind® PET semi-industrial unit in Japan for PET chemical recycling, with the backing of the French Environment and Energy Management Agency (ADEME). This breakthrough is the culmination of over ten years of development at Axens, IFPEN, and JEPLAN, as well as the three partners' synergy, which has been developed for over three years. It will substantially assist the PET market in meeting its recycled material integration objectives, in addition to mechanical recycling.
At the World Economic Forum 2023 Meeting, Sabic revealed that it is exploring a new world-scale commercial chemical recycling investment. This proposed factory might have a capacity of roughly 200 kilotonnes per year. Sabic signed a memorandum of agreement in March 2024 with the Pashupati Group, a mechanical and chemical recycler of PET and polyolefins headquartered in India. The firms will investigate, assess, and develop local business prospects for recycling waste plastics in India, including possibly establishing a pyrolysis facility to supply Sabic with feedstock for its circular polymers.
In March 2023, SK Chemicals established SK Shantou by acquiring Shuye's chemical recycling and chemically recycled PET business assets. This allowed SK Chemicals to acquire the world's first commercialized raw material and manufacturing facilities for polyester chemical recycling. In May 2024, the French Society of Plastics Engineers organised the Plastic Industry & Environment Congress, which recognised SK Chemicals' innovative circular chemical recycling technique in Europe.These innovations are not only making PET recycling more efficient but also expanding the range of recyclable materials, thus contributing to the market growth.
- High Cost Is A Challenge For The Market:
As per the report by an Italian company, Garbo, chemical recycling is a sustainable option since it uses low-value feedstock, but it requires a greater initial investment than typical mechanical recycling. This includes costs for advanced equipment and processes needed to break down PET into its monomers.
The cost of producing virgin PET, derived from petrochemicals, is often lower than that of chemically recycled PET, especially when oil prices are low. This pricing dynamic makes it difficult for chemical recycled PET to compete.
Overcoming these barriers will require more technological advancements and regulatory support. Until then, the high costs and constraints will continue to limit the widespread adoption of chemical recycling for PET.
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Key Opportunity Analysis:
- Raising Awareness Of Environmental Concerns:
There is a rising global demand for recycled materials driven by increasing environmental awareness and sustainability goals. Consumers, businesses, and governments are prioritizing the reduction of plastic waste and seeking more sustainable solutions. Governments are implementing regulations and targets to reduce plastic waste, further driving the demand for chemically recycled PET.
For instance, in Europe, the rules that have been provisionally agreed on with the Council include packaging reduction targets (5% by 2030, 10% by 2035, and 15% by 2040) and require EU countries to reduce the amount of plastic packaging waste. The ChemPET project in Europe exemplifies technological innovation in chemical recycling. By transforming PET waste into a stable intermediate (BHET) and then into virgin-like recycled PET (crPET), this technology ensures high-quality recycled products that can be used in food-grade applications. Such advancements help in meeting quality standards and expanding the applications of recycled PET.
The Council for PET Bottle Recycling reports that in 2022, 86% of the 94% of PET bottles that were bought in Japan were recycled. The high recycling rates in Japan demonstrate a strong infrastructure and commitment to sustainable practices. As customers become more ecologically conscious, there is an increasing desire for chemically recycled PET products.
- The Big Sustainability Goals Of Packaging Manufacturers:
The growing sustainability goals of packaging manufacturers are providing significant opportunities for chemically recycled PET to gain market share. Using recycled PET enhances a brand's reputation and appeal to environmentally conscious consumers. Therefore, many packaging companies are committed to reducing their greenhouse gas emissions and increasing the use of recycled materials. For instance, companies like Coca-Cola, Nestle, and PepsiCo have pledged to significantly increase the use of post-consumer recycled (PCR) content in their packaging by 2025.
The majority of well-known firms that use plastic in their supply chains have begun to analyse their plastic footprint and implement mitigation measures in response to investor and customer concerns about the plastic pollution catastrophe. These measures include redesigning and lightening packaging, lowering the amount of virgin plastic used, boosting reusability, and establishing goals for the percentage of recycled plastic.
Furthermore, in some cases, using chemically recycled PET can be more cost-effective than virgin PET, especially when considering potential government incentives or tax breaks. These factors are collectively driving the demand for chemically recycled PET in the packaging industry, contributing to a more sustainable and circular economy.
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The Report also Covers the Following Areas:
- Chemical Recycling of PET Market Size and Forecast
- Chemical Recycling of PET Market Trends
- Chemical Recycling of PET Market Analysis by Type
Chemical Recycling Of PET Market 2024-2030: Key Highlights
- CAGR of the market during the forecast period 2025-2030
- Value Chain analysis of key stakeholders
- Detailed analysis of market drivers and opportunities during the forecast period
- Chemical Recycling of PET Market size estimation and forecast
- Analysis and predictions on end users’ behavior and upcoming trends
- Competitive landscape and Vendor market analysis including offerings, developments, and financials
- Comprehensive analysis of challenges and constraints in the Chemical Recycling of PET Market
Covid and Ukrainian Crisis Impact:
- The COVID-19 pandemic has caused significant disruptions to global supply chains, impacting not just the transportation of completed items but also the cost and accessibility of raw materials. Manufacturing facilities faced challenges in sourcing raw materials, production delays, and transportation issues, affecting the supply of Chemical Recycling of PET Technology.
- Price increases were caused by conflicts between Russia and Ukraine. Numerous businesses have temporarily closed their units in Ukraine and ceased operations in Russia. Additionally, because businesses are reluctant to engage in an area that is experiencing political and economic uncertainty, the Ukrainian crisis has also resulted in a decline in market investments. This can have an effect on the market's dynamics of supply and demand.
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List of Top Companies in the Chemical Recycling Of PET Technology Market:
The Global Chemical Recycling Of PET Market is consolidated as the majority share is held by the leading Chemical Recycling Of PET manufacturers. The key companies profiled are listed below:
- SK Chemical
- Far Eastern Group
- Veolia
- SABIC
- Indorama Ventures
- Mitsubishi Corporation
- JEPLAN, INC.
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