Global Polyethylene Terephthalate (PET) Market Likely to Emerge over a Period of

Posted by Rashi Pande on December 9th, 2019

Market Analysis: Global Polyethylene Terephthalate (PET) Market

Global polyethylene terephthalate (PET) market is set to witness substantial CAGR of 7.18% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand for lightweight & packed food and increasing investments in R&D activities to produce less hazardous PET materials are the factor for the growth of this market.

Market Definition: Global Polyethylene Terephthalate (PET) Market

PET or polyethylene terephthalate is a tough thermoplastic resin which is used in production of many products such as canes, pouches, bottles, films & sheets and others. They are colorless and are very lightweight in nature. These plastics are considered as re- usable in nature because they don’t percolate any chemicals and are safe for the human as well. These plastics are widely used in industries such as food and beverage, electronics, healthcare, consumer goods and others.

Market Drivers:

• Rising disposable income will accelerate the market growth
• Growing food and beverage industry drives the market growth
• Increasing demand for sustainable and recyclable material will also enhance the growth of this market
• Growing demand for frozen and processed food among population will also contribute as a factor for the growth of this market

Market Restraints:

• Strict government norms and regulation associated with the usage of PET material will restrain the market
• Availability of substitute product in the market will also hinder the growth of the market
• Less PET recycling rates due to high contamination will also hamper the market growth

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Segmentation: Global Polyethylene Terephthalate (PET) Market

By Product Type

• Bottles
• Films and Sheets
• Cups
• Cans
• Pouches
• Others

By End- User Industry

• Food & Beverage
• Automotive
• Electrical & Electronics
• Healthcare
• Consumer Goods
• Others

By Application

• Beverages
• Sheets & Films
• Consumer Goods
• Food Packaging
• Others
  • Cosmetic Bottles
  • Household Products

By Material

• Glass
• Plastics
• Metal
• Paperboard
• Others

By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • U.K.
  • Belgium
  • Spain
  • Russia
  • Turkey
  • Netherlands
  • Switzerland
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Philippines
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Egypt
  • South Africa
  • Israel
  • Rest of Middle East and Africa

Key Developments in the Market:

• In February 2019, Indorama Ventures Public Company Limited announced that they have acquired Bevpak (Nigeria) Ltd. The main aim of the acquisition is to improve their polyester-related portfolio in Europe and Africa. This acquisition will help the company to strengthen their position in the market and expand their services worldwide
• In October 2018, PTI announced the launch of their new polyethylene terephthalate (PET) bottle system Dromo which is specially designed for the semi- viscous or liquid products. This new product is very beneficial for household chemicals, personal care and other products. This new product is 75% lighter as compared to the other PET bottles and has weight less than 10 gram. They are mainly designed for the e-commerce distribution

Competitive Analysis:

Global polyethylene terephthalate (PET) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of polyethylene terephthalate (PET) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major competitors currently working in the global polyethylene terephthalate (PET) market are Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, JBF Industries Ltd, LOTTE Chemical CORPORATION, Far Eastern New Century Corporation, China Petrochemical Corporation., SABIC, Reliance Industries Limited., RTP Company, Vikas Ecotech Ltd., TEIJIN LIMITED, Hitachi, Ltd., NEO GROUP, UAB; DuPont de Nemours, Inc, Filatex India Limited, Polyplex, Retal Industries LTD., Persian Gulf Petrochemical Industries Co., the Mitsubishi Chemical Advanced Materials group of companies, Verdeco Recycling Inc. and others.