Global Polyethylene Terephthalate Market was valued at US$ 25.3 Bn in 2019 and expected to reach US$ 43.7 Bn by 2026, at a CAGR of 7.01% during the forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Polyethylene terephthalate (PET) is the most common thermoplastic polymer resin of the polyester family and is used in fibers for clothing, containers for liquids and foods, thermoforming for manufacturing, and in combination with glass fiber for engineering resins.
Polymer chin breakdowns easily at a low temperature, so it recycles friendly. Polyethylene terephthalate plastic has become the world’s choice in the packaging sector. It is widely used for the packaging of many food and beverage items as it is hygienic, strong, and lightweight. It retains the freshness of the products and does not shatter. The majority of the world’s polyethylene terephthalate production is for synthetic fibers (up to 60%), with bottle production accounting for about 30% of global demand.
The packaging segment offers maximum market potential in the polyethylene terephthalate market, owing to the increase in demand for Polyethylene terephthalate materials for efficient and environment-friendly packaging alternatives globally. It also offers a rise in demand for packaged & processed food. Furthermore, an increase in the leaning of consumers toward efficient & easily recyclable beverage containers and growth in usage as an eco-friendly substitute further boost the growth of this segment. The use of polyethylene terephthalate in electrical & electronics has also witnessed major developments, owing to constant growth in per-capita disposable income and rise in demand for lightweight materials.
Asia Pacific holds a major share of the polyethylene terephthalate market and is expected to be a dominant market with an encouraging CAGR during the forecast period. Asia-Pacific accounted for more than 35% share of the total revenue in 2017, followed by Europe and North America.
North America is a dominant region in the market of polyethylene terephthalate. Owing the developed automobile and electronics industries are significantly driving the market growth. The European market is also a lucrative market mainly driven by the developed electrical & electronics, and automobile sector.
The key market players operating in the global polyethylene terephthalate market are RTP Company, BASF, DuPont, DSM, M&G Group, Indorama Ventures, PET Processors LLC., Lanxess Corporation, Nan Ya Plastics, Lyondell Basell Industries N.V., Toray Industries, Jiangsu Sanfangxiang Group, Far Eastern New Century, Quadrant AG, Tray-Pak Corporation, Verdeco Recycling Inc., Eastman Chemical Company, lpek S.A.B de C.V., Reliance Industries Ltd., and Dhunseri Petrochem Ltd.
The report covers the total market for polyethylene terephthalate market has been analyzed based on the Porter’s five forces model. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. This gives an idea about the key drivers, such as high growth and demand in emerging economies countries.
Global Polyethylene Terephthalate Market, by Application
• Electrical & Electronics
Global Polyethylene Terephthalate Market, by Region
• North America
• Middle East & Africa
• South America
Key Players Operating in the Polyethylene Terephthalate Market:
• RTP Company
• M&G Group
• Indorama Ventures
• PET Processors LLC.
• Lanxess Corporation
• Nan Ya Plastics
• Lyondell Basell Industries N.V.
• Toray Industries
• Jiangsu Sanfangxiang Group
• Far Eastern New Century
• Quadrant AG, Tray-Pak Corporation,
• Verdeco Recycling Inc.
• Eastman Chemical Company
• lpek S.A.B de C.V.
• Reliance Industries Ltd.
• Dhunseri Petrochem Ltd.
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