Global Polyethylene Terephthalate Market 2019 Size, Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2028
“Global Polyethylene Terephthalate Market, Growth and Forecast 2019 to 2028” is an upcoming researched market report by the research team of MarketResearch.biz. The subsequent report presents detailed global insights about the industry, revenue details, along with other important data on the global market. The report is inclusive of ongoing trends, drivers, restraints and threats, and opportunities. It also offers detailed facts about prominent players in the market, including financials, key developments and recent innovations, sustainability strategies such as acquisitions and mergers, etc. The quantitative and qualitative data for country-level markets under regions, and for segments have been provided for each in tabular format. The report has been bifurcated on the basis of technology, grade, end-use application, end-use industry, and region.
Polyethylene Terephthalate: Overview
Polyethylene Terephthalate, also termed as PETE or PET, is a polymer or plastic resin which is widely used in various end-use industries such as food & beverage, packaging, automotive, textiles, etc. There are 2 types of polyethylene terephthalate available currently, virgin and recycled. The virgin is used for blister forming, automotive, food packaging, and others. The recycled one is used for fiber, strapping, sheet and film, food & beverage bottles, non-food bottles, engineered resin, and others.
Polyethylene Terephthalate Market: Driving and Hindering Factors
Growing demand for packed food, frozen food, and carbonated beverages, bottled water and juices, coupled with adoption of recycled PET containers is anticipated to fuel market revenue growth. In addition, increasing need for PET-based packaging in the rapidly growing packaging industry and medical industry is another factor resulting in higher demand for PET, thereby propelling target market growth. Moreover, increasing production and sales of automobiles across the world and constantly rising demand for electrical and electronics by consumers is leading to higher adoption of polyethylene terephthalate.
Unfavorable regulations by the government concerning environmental emissions is a major factor that could hinder market growth. In addition, easy availability of substitutes and growing number of rules to ban plastic products in various countries are factors that could affect market growth in developed as well as developing countries.
Investments by major players in R&D activities in order to develop and launch innovative products using less hazardous PET materials such as bio-based PET is an ongoing trend that is estimated to offer revenue growth opportunities to companies in the near future.
Region Analysis: Polyethylene Terephthalate Market
The Asia Pacific (APAC) polyethylene terephthalate market is anticipated to record dominant share in the global market in terms of value over the next 10 years. Rising demand and adoption of packaged food products and beverages in China, Korea, India, Australia, etc. in the region is expected to fuel Asia Pacific polyethylene terephthalate market growth. In APAC, the China market holds dominance in terms of production and consumption of polyethylene terephthalate. Growing demand for plastic products or containers among population, combined with presence of prominent companies in the country is anticipated to propel revenue growth of the China market in APAC region. The North America market is anticipated to record second- highest market share in the market, followed by Europe market. The Europe polyethylene terephthalate market is projected to witness steady CAGR over the 10-year forecast period. Latin America and MEA markets are anticipated to hold moderate revenue shares simultaneously.
Recent Market News: Global Polyethylene Terephthalate Market
- In February 2019, a US-based Polyester company – DAK Americas LLC – acquired Perpetual PET recycling facility located in Richmond, Indiana, previously owned by a US-based company, Perpetual Recycling Solutions LLC.
- In 2018, US-based rPlanet Earth, a company that engages in closed-loop recycling of post-consumer plastics, started its first vertically integrated plant which has the ability to convert PET packaging waste into rPET finished products. These recycled products have properties similar to virgin PET.
Global Polyethylene Terephthalate Market Segmentation:
Segmentation by Technology:
- Blow Molding
- Injection Molding
- 3D Printing
Segmentation by Grade:
- Textile Grade
- Bottle Grade
- Film Grade
- Other Grades
Segmentation by End-use Application:
- Sheet and Film
- Food & Beverage Containers and Bottles
- Non-Food Containers and Bottles
Segmentation by End-use Industry:
- Electrical and Electronics
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- M&G Chemicals
- JBF Industries Ltd.
- BASF SE
- Jiangsu Sanfangxiang Group
- Alpek SAP DE CV
- China Resources Chemical Materials Technology Ltd.
- Hengli Group Ltd.
- Reliance Industries Ltd.
- Royal DSM
- Sinopec Group
- Saudi Basics Industries Corp
- Lotte Chemical Corporation
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