The Polyethylene Terephthalate (PET) Market Report (2019-2026): Opportunities, Challenges, Strategies, and Forecasts
In 2019, the global Polyethylene Terephthalate (PET) market size was USD 25,796 million and it is expected to reach USD 40,750 million by the end of 2026, with a CAGR of 6.75% during 2019-2026.
Polyethylene Terephthalate (PETE or PET) is the most commonly used thermoplastic polymer in the world and is better known in the textile industry by the trade name “polyester.” It is a naturally transparent and semi-crystalline plastic widely used as a fiber for clothing, as an effective moisture barrier with wide applicability in bottling and packaging (known in these cases as PET or “PET resin”), and as an engineering plastic when it is combined with other materials like glass fiber or carbon nanotubes to significantly increase the material’s strength. It is a naturally colorless, semi-crystalline material.
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Market Driver and Constraint
Polyethylene terephthalate (PET) can be used in various application industries such as beverage packaging, consumer goods, sheets & films, food packaging, automotive, and construction. Increasing demand for PET containers particularly from the food and beverage sector and also a growing demand for frozen & processed food are major factors that drive the polyethylene terephthalate market. Further polyethylene terephthalate offers several benefits such as it is light-weighted, it has high transparency, it is high pressure resistant and many more. These benefits also boosting the demand for polyethylene terephthalate (PET) across the world. The booming construction industry in BRICS nations, positive environmental impact, and rising government initiatives are some of the other driving factors of the market during the forecast period. Moreover, the development of new products and services are likely to create a lucrative opportunity in the near future.
Yet, the unstable economic cycle and high prices of silicones product are some of the main factors that limit the market growth of Polyethylene Terephthalate (PET) over the forecast period. In addition, choking hazards related to PET containers may also hamper the growth of the Polyethylene Terephthalate (PET) market.
Region-wise Analysis
Asia-Pacific held the largest share of the market in 2018, accounting for close to 32.87% share. It was followed by North America and Europe, with a share of 29.66% and 28.25% respectively. Asia-Pacific is the leading region across the world in terms of market share due to rising demand for sustained & recyclable material and growing food & beverage sector in the region. In the Asia Pacific, China is anticipated to be a dominating country followed by India and Japan.
North America is another leading region in the polyethylene terephthalate market. The increasing urbanized population with a busy lifestyle has increased the demand for the ready to eat food and beverage products which are also expected to support the growth of the polyethylene terephthalate market. Moreover, growing technological innovations in the region for the development of environment-friendly PETE is a major factor driving the polyethylene terephthalate market in North America. The European market is also a lucrative market mainly driven by the developed electrical & electronics, and automobile sector.
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Competition Analysis
Key participants have economically invested heavily in R&D activities to develop advanced products to cater to the requirements of the market. Major enterprises in the global market of Polyethylene Terephthalate (PET) include MPI Polyester Industries, Sri Poma Plastic, WinTech Polymer Ltd., Commercial Plastic Industries (CPI), Mayplas Packaging Sdn Bhd, Indorama Ventures, Polyplex, Asia Resins Co., Ltd, Thai PET Resin Co., Ltd., Shinkong Synthetic Fibers Corporation (SSFC), MPI polyester Industries Sdn. Bhd. Ltd., WinTech Polymer Ltd., Poly Projects Sdn Bhd, Eastman, Dupont, SK Chemicals, SABIC, Nan Ya Plastics, Petroquimica Suape, KoKsan, EIPET, DAK, M&G Chemicals, Far Eastern New Century Corporation, JBF, OCTAL, Lotte Chemical, and etc.
Worldwide Polyethylene Terephthalate (PET) Market by Type
Fibers, Resins, and Others.
Worldwide Polyethylene Terephthalate (PET) Market by Application
Packaging, Electrical & Electronics, Automotive, Construction, and Others (Material Handling and Strapping).
The packaging segment offers the greatest market potential in the polyethylene terephthalate market, owing to an increase in demand for Polyethylene terephthalate materials for efficient and environment-friendly packaging alternatives globally and rise in demand for packaged & processed food. Further, 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 application of polyethylene terephthalate in electrical & electronics has also made significant progress, owing to constant growth in per capita disposable income and rise in demand for lightweight materials.
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Polyethylene Terephthalate (PET) Market
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2 Market Trends and Competitive Landscape
3 Segmentation of Polyethylene Terephthalate (PET) Market by Types
4 Segmentation of Polyethylene Terephthalate (PET) Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Polyethylene Terephthalate (PET) Market in Major Countries
7 North America Polyethylene Terephthalate (PET) Landscape Analysis
8 Europe Polyethylene Terephthalate (PET) Landscape Analysis
9 Asia Pacific Polyethylene Terephthalate (PET) Landscape Analysis
10 Latin America, Middle East & Africa Polyethylene Terephthalate (PET) Landscape Analysis
11 Major Players Profile
11.1 MPI Polyester Industries
11.1.1 MPI Polyester Industries Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Sri Poma Plastic
11.3 WinTech Polymer Ltd.
11.4 Commercial Plastic Industries (CPI)
11.5 Mayplas Packaging Sdn Bhd
11.6 Indorama Ventures
11.7 Polyplex
11.8 Asia Resins Co., Ltd
11.9 Thai PET Resin Co., Ltd.
11.10 Shinkong Synthetic Fibers Corporation (SSFC)
11.11 MPI polyester Industries Sdn. Bhd. Ltd.
11.12 WinTech Polymer Ltd.
11.13 Poly Projects Sdn Bhd
11.14 Eastman
11.15 Dupont
11.16 SK Chemicals
11.17 SABIC
11.18 Nan Ya Plastics
11.19 Petroquimica Suape
11.20 KoKsan
…
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Target Audience:
Polyethylene Terephthalate (PET) manufacturers
Distributors and resellers of Polyethylene Terephthalate (PET)
Polyethylene Terephthalate (PET) end-user sectors
Raw material suppliers of Polyethylene Terephthalate (PET)
Research and Development (R&D) companies
Polyethylene Terephthalate (PET) industry associations
Product managers, Polyethylene Terephthalate (PET) industry administrator, C-level executives of the industries
Market research and consulting firms
Small and Medium-sized Enterprises (SMEs)
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2019 to 2026
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