Kings Research today announced the release of its latest study, “Global Recycled Terephthalic Acid (rTPA) Market: Size, Share, Trends & Forecast 2024–2031.” The report analyzes market growth, opportunities, and competitive developments shaping the global rTPA industry.
According to Kings Research, the global rTPA market was valued at USD 2,289.2 million in 2023 and is projected to reach USD 3,214.7 million by 2031, growing at a CAGR of 4.39%. Rising demand for sustainable materials, expansion of circular economy initiatives, and stricter regulations on plastic waste are fueling adoption across key industries.
Recycled terephthalic acid is recovered from post-consumer and post-industrial PET waste through chemical recycling. It is used in PET packaging, polyester fibers, films, and other applications, reducing reliance on virgin petrochemical feedstocks. Industries are adopting rTPA to meet sustainability targets and consumer demand for eco-friendly products.
Key Market Drivers
- Regulatory push: Governments are implementing extended producer responsibility (EPR) rules, tax incentives, and strict recycling mandates.
- Corporate commitments: Food, beverage, and textile brands are shifting to recycled PET packaging and apparel to meet sustainability goals.
- Technological advances: New depolymerization, glycolysis, and enzymatic recycling methods improve efficiency and product quality.
- Strategic partnerships: Companies such as Schneider Electric and GR3N (2024) are advancing closed-loop recycling systems.
Opportunities for Business Leaders
For decision makers, the rTPA market offers clear benefits:
- Cost efficiency with long-term savings from reduced virgin raw material use.
- Sustainability compliance through alignment with government policies.
- Brand value as consumers favor eco-friendly products.
- Innovation potential with high-purity rTPA enabling food-grade and high-performance applications.
Regional Outlook
Asia Pacific held the largest share in 2023 at 40.11% (USD 918.2 million), led by strong textile and packaging demand in China, India, and Japan. The region is projected to maintain dominance with large-scale recycling investments and apparel sector adoption. Europe is set to record the fastest CAGR of 4.42% through 2031, driven by the EU’s Single-use Plastics Directive and circular economy mandates.
Competitive Landscape
Global rTPA players are expanding through partnerships, advanced recycling projects, and scaling operations. Leading companies include Indorama Ventures, Alpek S.A.B. de C.V., Far Eastern New Century, Lotte Corporation, SABIC, Loop Industries, Biffa, Plastipak, CARBIOS, GreenMantra Technologies, Hengli Group, Reliance Industries, SK chemicals, and Krones AG.
Recent Developments
- Jan 2025: DePoly and Plastic Technologies Inc. developed closed-loop recycled PET bottles (Source: www.depoly.co)
- Aug 2024: CARBIOS and SASA signed an LOI to build a 100,000-ton PET biorecycling facility in Turkey (Source: www.carbios.com)
- Nov 2024: Axens, IFPEN, and JEPLAN launched the Rewind PET process for global licensing (Source: www.axens.net)
The full Kings Research report provides market segmentation by type, source, process, application, and end-use industries, along with regional and competitive insights. To request a sample or explore consulting services, please visit https://www.kingsresearch.com/recycled-terephthalic-acid-market-1391.
About Kings Research
Kings Research is a global provider of market intelligence and consulting services. The company helps organizations identify emerging opportunities, assess risks, and make informed business decisions across industries.Market data and insights are sourced from Kings Research proprietary analysis and validated against public and corporate releases, including Schneider Electric, CARBIOS, Axens, and regulatory authorities.