Global Polyethylene Terephthalate (PET) Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 5.97% during the forecast period that is 2017-2025. The polyethylene terephthalate (PET) market is expected to be dominated by Asia Pacific, which is followed by Europe, in terms of both revenue and volume, and the growth inclination is anticipated to remain same by the forecast period.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

Polyethylene terephthalate (PET) is thermoplastic polymer resins which are used for fiber production in various applications such as food and beverages packaging such as carbonated soft drinks, automotive parts, and others. The functional properties of PET such as being lightweight, non-toxic, flexibility, and strength, coupled with its ability to be 100% recyclable, is expected to create demand for polyethylene terephthalate market. The growth of PET, could be linked with the rising consumer preference towards ready to eat food, frozen foods, and other packaged food and beverages, as PET are non-toxic and its thin films are more durable compared to other polyesters such as LDPE, HDPE, polypropylene, and others.

Segment and Industry Analysis

Growing demand for bottled water is outlined as the key factor for the growth of PET market, owing to easy convenience of bottled water with rising healthcare awareness concerning ordinary water bottles as they deteriorate in quality and reacts with microorganisms to form yellowish layers over a period of time. Polyethylene terephthalate (PET) water thermostats are light weight, non-breakable, and easier to handle. PET’s recycling ability helps to produce a range of products such as winter coats, door panels, sheets, automotive parts, fibers, industrial strapping, and others.

The polyethylene terephthalate (PET) market is likely to grow due to various technological advancement for high strength, energy-efficient, and lightweight polyethylene terephthalate bottles. For instance, the introduction of NEW RIGHTWEIGHT in 2014 and marketed by Sidel, offers a standard 0.5 liter still water bottle, which weighted 7.94gms, along with a 33kg top load performance with standard 26/22 closures, and does not require any nitrogen dosing. These innovation among PET bottles and thin films which are being used in packaging industry by food and beverage companies such as Coca-Cola, PepsiCo, and Parle Agro for its bottles are creating high demand for PET material.

Various technological advancement among companies is also expected to boost the polyethylene terephthalate (PET) market. For instance, in May 2016, Graham Packaging Company Inc., from Pennsylvania, was given the Diamond Award, which is the highest accolade, due to its achievement in Thermostat Blow Molded PET Container for hot-fill and pasteurized food. This product provides various benefits such that being easy to hold, safe, shatter-resistant, and recyclable which helps to significantly reduce the shipping and manufacturing costs for the companies. Thus, owing to these factors, the polyethylene terephthalate (PET) market is expected to propel during the forecast period 2018-2025.

Technologies and Plastics Trends

PET is an inert material (biologically), which does not react with beverages or food items, thus making them an ideal material towards food packaging and containers, as they provide high resistance towards micro-organisms. For instance, according to the U.S. Food and Drug Administration (FDA), recycled PET bottles are safe to use, as they are non-reactive towards any micro-organisms, and reduces microbial contamination and reaction with packaged food and beverages items. Various environmental concerns are a major concern for the PET market, however, as compared to glass, aluminum, steel and other, PET are more packaging friendly material, due to its light weight and high weight bearing capacity, which reduces the transportation cost by utilizing less weight and space.

Regional Analysis

The polyethylene terephthalate (PET) market is expected to be dominated by Asia Pacific, which is followed by Europe, in terms of both revenue and volume, and the growth inclination is anticipated to remain same by the forecast period. In Asia Pacific the increasing demand for drinks and other beverages such as carbonated drinks is expected to seize the PET market in Asia Pacific. The growing demand for packaged food, ready to eat food coupled with changing life style, and growing urbanization and population along with infrastructure expansion of retail sectors is projected to propel the growth for polyethylene terephthalate (PET) market over the forecast period in Asia Pacific. The increasing preference of automotive manufacturers towards utility of PET, in automotive parts such as body vinyl, dashboards, and others are highly preferred due to its light weight properties, and it lowers both manufacturing cost and operational cost, providing enhancement in performance. According to the International Trade Administration, the sales of automotive has increased by 3.2% in Asia Pacific, while according to India Brand Equity Foundation, the total sale of vehicles in 2017, is accounted for 17.5 million units. Thus, this surge for automotive sale, is expected to drive the market for polyethylene terephthalate (PET), due to its application in for internal and external injection moulded parts.

Global Polyethylene Terephthalate (PET) Market Size, Share Analysis By Region 2017

Global Polyethylene Terephthalate Market Study Objective

1. To forecast the market size of polyethylene terephthalate market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of polyethylene terephthalate market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have major impact on the growth of polyethylene terephthalate market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of polyethylene terephthalate market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the polyethylene terephthalate market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Market Players:

Major players for global polyethylene terephthalate market include BASF SE, RTP Company, Alpek S.A.B de C.V., Quadrant AG, The Dow Chemicals Company, Indorama Ventures, and Jiangsu Sanfangxiang Group among others.

Global Polyethylene Terephthalate Market Study Report Offer You!

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