Polyethylene terephthalate is also known as PET/PETE, and is the most common thermoplastic polymer resin in the polyester family. It is produced by combining raw materials, such as monoethylene glycol and purified terephthalic acid. It is used in thermoforming applications, such as in fibers for clothing, containers for liquids & foods, and in combination with glass fiber for engineering resins. It is widely used for the formation of plastic bottles, which are increasingly embraced across food & beverage industry, owing to its excellent water and moisture barrier material properties.
Consumers are widely embracing PET, owing to its utilization in packaging food and non-food items. Moreover, it possesses safe, strong, transparent, versatile, lightweight, resealability, shatter-resistance, and recyclability characteristics. In addition, recycled PET packages exhibit the property of recycling again.
This report projects the trends and opportunities of the global PET market. This research study includes a qualitative & quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview towards the market growth and predict the market behavior during the forecast period
The PET market is emerging on account of its growth in demand from electrical & electronic industry, it is durable electrical & electronic performance, thereby offering a glossy finish. Its lightweight, glass-reinforced composition exhibits dimensional stability, making it ideal for the replacement of die-cast metals and thermosets. Thus, PET UV-resistant property makes it ideal for utilization in electronic products eventually driving the market growth.
The global polyethylene terephthalate market is highly dynamic since manufacturers are focusing on replacing traditional glass packaging with polyethylene terephthalate packaging. Moreover, excellent recyclability characteristics of polyethylene terephthalate is a major factor expected to surge the market growth. Moreover, PET packaging is 100% recyclable, thus increasingly reused by manufacturers of products, that do not require virgin PET, such as carpets and raincoats, which resulted in higher profit margin for market players. However, the fluctuating prices of crude oil and the enforcement of stringent government rules regulating the usage of PET are expected to refrain the market growth.
The global polyethylene terephthalate market is segmented based on application, end-use industry, and geography. Based on application, it is categorized into beverages, sheet & films, food packaging, and others (cosmetic bottles and household products). Beverages is divided into bottled water, carbonated, and others (juices and LDP). Based on end-use industry, it is classified into packaging, electrical & electronics, industrial machinery, automotive, construction, and others (material handling and strapping). Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key market players in the global polyethylene terephthalate market include:
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By End-use Industry
The other players in the value chain (profiles not included in the report) include:
*The above list of companies is not profiled in the report, and can be added based on client interest.
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