UHB News Report: Polytech-KY Set to Go Public in March, Targeting rPET Market Opportunities

Polytech-KY, a comprehensive PET bottle recycling and reprocessing solutions provider, held its pre-IPO performance briefing today (10th), announcing plans to list in mid-March. Chairman Eugene Ou noted that the European Union’s plastic tax and U.S. legislation mandating that 25% of plastic packaging contain recycled material by 2025—primarily rPET—are driving strong demand in the recycled polyester market.

Polytech-KY is dedicated to providing end-to-end solutions for plastic recycling and washing systems, as well as R&D and production of recycled fiber and recycled PET resin. During the briefing, the company reiterated its plan to go public in March.

‘We offer a one-stop service, including production technology, engineering design, equipment supply, and even full plant construction,’ said Chairman Eugene Ou. ‘Many large corporations entering this industry require robust technical support and engineering services, which we are well-positioned to deliver.

Polytech’s equipment engineering business is built on the strength of vertical integration, offering a one-stop solution from engineering design to equipment installation.

With global efforts toward carbon neutrality accelerating, the recycled plastics industry is entering a period of significant growth. According to market research, the global rPET (recycled PET) market was valued at USD 11 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.5%, reaching USD 15 billion by 2028.

Chairman Eugene Ou stated that in the PET bottle recycling sector, Polytech holds a strong global market share. The company’s products have been sold in over 40 countries, with more than 280 systems installed worldwide—representing an estimated market share of over 30%. Polytech is also expanding into other challenging plastic recycling sectors, such as agricultural films, textile recycling, and other hard-to-recycle plastics.

In food-grade recycled PET production, the company has secured certifications from the U.S. FDA, Japan’s Container Testing Association, and Taiwan’s Food and Drug Administration, making it a trusted partner for beverage packaging solutions.

The European Union has already implemented a plastics tax, and the United States has passed legislation requiring that plastic packaging contain at least 25% recycled content by 2025. These policies are fueling robust demand for rPET and driving innovation and advancement in the plastic recycling industry.

Taiwan’s resource recycling sector continues to play a critical role in the global green economy, and market analysts anticipate that Polytech’s business performance will continue its upward momentum.”**
(Report by Wen Wan-Ting and Wu Kuo-Hao, Taipei)