The global polyethylene terephthalate market size is anticipated to surpass USD 47.87 billion by 2027 and register a CAGR of 5.8% over the forecast period 2020 to 2027.
The global polyethylene terephthalate market size was valued at USD 25.25 billion in 2018.
Polyethylene terephthalate, commonly known as PET or PETE, is a non-toxic, lightweight, safe, and flexible material, which can be recycled and reused efficiently. It can also be processed up to 3 to 4 times without affecting its chemical properties. These features make polyethylene terephthalate an ideal choice for use in various industries such as automotive, electronics, and textiles, among others.
Moreover, polyethylene terephthalate offers unique physical properties, such as it is shatterproof and non-reactive to food and water, due to which it is widely used in flexible packaging applications. The growing technological advancements and innovations in packaging applications, mainly through weight reduction, are expected to positively influence the market growth. Major factors driving the market growth for Polyethylene Terephthalate (PET) include increasing consumption of textiles and fabrics, increasing recycling and collection rate of PET in Europe, and rising demand for sustainable & recyclable products globally. Meanwhile, stringent environmental regulations controlling the increasing use of PET and rising demand for environmentally friendly alternatives such as High-Density Polyethylene (HDPE) are expected to negatively impact the growth of the market.
The increasing demand for lightweight packaging solutions for electronics and food is anticipated to introduce new application avenues for polyethylene terephthalate. Moreover, the intensity of rivalry is expected to increase over the forecast period. Hence, players are focusing on strengthening their market position through the development of novel technologies.Companies are also focusing on the cost-effective and high-quality manufacturing processes of PET to gain a competitive edge in the market.
The bottled water segment has emerged as the largest application segment in the market for polyethylene terephthalate (PET) owing to the increasing demand for bottled water and carbonated soft drinks across the globe. The segment accounted for over 65% market share in 2018 and is expected to further grow over the forecast period. Packaging product manufacturers are expanding in terms of infrastructure and production capacity to cater to the dynamically growing market requirements. Moreover, numerous PET film & sheet manufacturers are adopting strategies such as acquisitions and collaborations for procuring raw material.
Further key findings from the study suggest:
The polyethylene terephthalate market was valued at USD 25,246.8 million in 2018 and is expected to register a CAGR of 5.8% from 2020 to 2027
The rising demand for environment-friendly and energy-saving products and solutions for packaging is expected to drive the market growth
The packaging segment accounted for the largest revenue share in 2018 on account of its increasing use in food and non-food packaging applications
The films & sheets segment accounted for a market share of 12.89% in 2018 and is projected to register a CAGR of 5.6% over the forecast period
The focus of various governments on improving indoor air quality and establishing stringent environmental regulations is anticipated to drive the demand for PET-based packaging
The Polyethylene Terephthalate market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Polyethylene Terephthalate market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Polyethylene Terephthalate market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Polyethylene Terephthalate market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Polyethylene Terephthalate market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Polyethylene Terephthalate capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Polyethylene Terephthalate by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Polyethylene Terephthalate market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Polyethylene Terephthalate market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Polyethylene Terephthalate market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Polyethylene Terephthalate industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Polyethylene Terephthalate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Polyethylene Terephthalate market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Polyethylene Terephthalate market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Polyethylene Terephthalate market. These factors have benefited the growth of the global market for Polyethylene Terephthalate. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Polyethylene Terephthalate. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key players have economically invested heavily in R&D activities to develop advanced products to cater to the requirements of the market. These players operating in the industry include RTP Company, BASF, DuPont, DSM, M&G Group, Indorama Ventures, PET Processors LLC., Lanxess Corporation, Nan Ya Plastics, and Lyondell Basell Industries N.V.
The other players in the value chain (profiles not included in the report) include Toray Industries, M&G Group, 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.
Films & Sheets
Packaging Application Outlook
Carbonated Soft Beverages
Central & South America
Middle East & Africa
In this study, the years considered to estimate the market size of Polyethylene Terephthalate are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are: