Global Polyethylene Terephthalate Market research report: Information by Product (carbonated soft drink, bottled water, sheet & films, food, non-food and others) by Application (food and beverage, automotive, electronics, others) – Forecast till 2023

Synopsis of Polyethylene terephthalate Market

Polyethylene terephthalate also known as PET, PETE is a thermoplastic polymer resin most commonly used as an efficient packaging material in packaging of water bottles, fibers in clothing, and containers. The advantages of polyethylene terephthalate such as tensile strength, recyclability, and versatility among others pave their way into many end-use industries. The major end-use industries includes, automobiles, electronics, food & beverage, and others. The growing use of polyethylene terephthalate in packaging owing to its ability to bear enhanced weight, in turn reducing transportation cost is the major factor positively driving the market growth.

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Key Players:

Some of the prominent players operating in the Global polyethylene terephthalate market are Alpek S.A.B de C.V (Mexico), RTP company (U.S.), BASF SE (Germany), The Dow Chemicals Company (U.S.), Jiangsu Sanfangxiang Group (China), Indorama Ventures Public Company Limited (Thailand), M&G Chemicals (Italy), NAN YA PLASTICS CORPORATION (Taiwan), Far Eastern New Century Corporation (Taiwan), and The Quadrant group of companies (Switzerland).

Among the various application segments of polyethylene terephthalate, the food & beverage is the largest segment and is expected to show the same trend during the forecast years. Food 7 beverage accounted for over 45% of market share and is expected to grow with a considerable CAGR. PETE is extensively used as a packaging materials in food & beverage industry. Moreover, the growing demand for packaged food throughout the globe is a major factor attributed to the growth of the segment. Furthermore, approval from the Food and Drug Administration for the use of recyclable PET along with the growing demand for convenience food in Europe and North America is also expected to have a positive impact on the market growth.

Regional Analysis 

The polyethylene terephthalate market is segmented across five regions: North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be a dominant market with an encouraging CAGR during the forecast period. The flourishing growth in industries and urbanization is fuelling the growth of polyethylene terephthalate in the developing countries of Asia Pacific. Moreover, favorable government regulation has attracted many players to enter the lucrative market of Asia Pacific which in turn is fuelling the market growth. Furthermore, the development of retail sector coupled with the growing demand for convenience food is further expected to surge the market growth. In addition to this, the shifting manufacturing cost along with the growing research and development for innovative packaging is a major opportunity in this region.

North America is another dominant region in the market of polyethylene terephthalate. The developed end-use industries such as automobile and electronics among others are significantly driving the market growth. Moreover, the growing working population coupled with a fast-paced lifestyle has augmented the demand for on-the-go food and beverages which is expected to contribute substantially to the growth of the market. In addition to this, the growing technological innovations in the region for the development of environment friendly PETE is a major opportunity in the region.

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Segmental Analysis:

The global polyethylene terephthalate market on the basis of product types and application. On the basis of product types, the market is segmented as carbonated soft drink, energy drinks, bottled water sheets & films, food and non-food and others. On the basis of application industry, the global polyethylene terephthalate market is segregated into food & beverages, electronics, automotive, and others.

TABLE OF CONTENTS

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape