Recycled Polyethylene Terephthalate Market
November 2023- Former Under Armour CEO and apparel industry veteran Patrik Frisk (on the left) is heading the new company Reju, along with Alain Poincheval (on the right), COO, a senior executive with Technip Energies. Technip Energies announces the creation of Reju, a new company focused on PET (Polyethylene terephthalate) recycling (rPET) of textiles that will leverage the innovative technology co-developed in joint-venture with IBM and Under Armour as well as Technip Energies' global engineering and technology integration expertise. Reju will address the fast-growing market of global rPET, whose demand from the textile market is expected to grow up to 20 Mtpa by 2033, driven by industry pledges and targets on recycling, regulation, and consumer awareness of the need to reduce plastic waste. Technip Energies, IBM, and Under Armour have been working together since 2021 in a joint venture to bring VolCat, an IBM technology for rejuvenating waste PET packaging and polyester, to an industrial scale. VolCat allows the selective breakdown of polymers, which IBM first applied to technologies like semiconductor lithography and microelectronics packaging. Reju intends to use this technology to address hard-to-recycle polyester garments and PET packaging lost to the waste stream today. With this technology, acting as a molecular sorter, PET could be regenerated infinitely.
October 2023- Chlorophyll Water, a US-based mountain spring mineral water company, has switched to 100% recycled polyethylene terephthalate (rPET) for its water bottles. The company adds chlorophyll to the purified water, as well as vitamins A, B12, C, and D. The bottles incorporate CleanFlake label technology from Avery Dennison, an Ohio-based label design and manufacturing company, which helps improve the yield of high-quality, food-grade PET in the recycling process.
Key Companies in the Recycled Polyethylene Terephthalate market include
