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Research Report and Overview on Polyethylene Terephthalate Market, 2015-2025

Global Bio-Polyethylene Terephthalate Market
Global Bio-Polyethylene Terephthalate Market

Polyethylene terephthalate, which is also called PET is a thermoplastic polymer resin produced by the reaction of raw materials monoethylene glycol (MEG) and purified terephthalic acid (PTA). The material exhibits exceptional barrier properties towords moisture and water. Polyethylene terephthalatefinds applications across diverse industries such as automotive, food and beverage packaging, electronics among the others.

Recently, Reliance Industries have announced to open two petrochemical plants in Dahej, Gujrat, for making polyester plastic and would also commissioned a 650 KTA polyethylene terephthalate (PET) resin capacity and purified terephthalic acid (PTA) plant. It will increase their global capacity share of almost 4 percent and would also lower the operational cost and achieve full chain margins.

Polyethylene Terephthalate Market: Drivers & Restraints   

Increasing demand of polyethylene terephthalate from food and beverage sector like in carbonated soft drinks packaging, increase demand for packaged food due to rise in consumption of frozen and processed food, rise in demand for electronics and automotive applications/industries and eco friendly substitution are the most important driving factors in the polyethylene terephthalate market. Also, rapid urbanization, innovative packaging and high economic growth is contribution in increasing the demand for polyethylene terephthalate regardless of the geographical location.

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Stringent environmental rules and regulations by government and threat of substitutes, are acting as a barrier for polyethylene terephthalate market.

Polyethylene Terephthalate Market: Segmentation     

Polyethylene terephthalate market are broadly classified on the basis of the following segments –

By Application:

  • Sheets/Films
  • Packaging (Bottles)
  • Consumer Goods
  • Others

By End User:

  • Automotive
  • Electronics
  • Food and Beverages
  • Others

Polyethylene Terephthalate Market: Overview    

Polyethylene terephthalate market has grown substantially at a healthy CAGR due to an increase use of PET in food and beverages industry. With rapid technological advancement market and increasing demand from end user industries like automotive, packaging and electronics is expected to fuel the growth of the polyethylene terephthalate market. Asia Pacific represents the largest market for this product category. China and India will emerge as the fastest growing region for polyethylene terephthalate market.

Polyethylene Terephthalate Market: Region-wise Outlook 

Polyethylene terephthalate market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions polyethylene terephthalate market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. Asia Pacific is the fastest growing market followed by Europe and North America. This is due to the increasing demand of polyethylene terephthalate and ethylene from these regions. There’s is a robust demand of polyethylene terephthalate from Africa and Middle East.

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Polyethylene Terephthalate Market: Key Players

Some of the key market players in polyethylene terephthalate market are Toray Industries, Badische Anilin- und Soda-Fabrik (BASF), DuPont, DSM, M&G Group, Indorama Ventures, Jiangsu Sanfangxiang Group, Lanxess Corporation, Nan Ya Plastics, Far Eastern New Century.

About the author

Ankush Nikam

Ankush Nikam is a seasoned digital marketing professional, having worked for numerous online firms in his distinguished career. He believes in continuous learning, considering that the digital marketing sector’s rapidly evolving nature. Ankush is an avid music listener and loves to travel.