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Polyethylene Terephthalate

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Polyethylene Terephthalate Market report categorizes global market by Product Type (Carbonated Soft Drink, Bottled Water, Other Drinks, Sheets & Films, Food, Non-Food), Application, and Geography - Insights, Size, Share, Opportunity Analysis, and I
Polyethylene Terephthalate Market - Insights, Size,
Share, Opportunity Analysis, and Industry Forecast
till 2025
Polyethylene terephthalate is the most common plastic resin of polyester made from
the combination of two monomers. Polyethylene terephthalate, also referred to as
PET or PETE, is a remarkable cost and energy efficient packaging material, which
possesses properties of versatility, strength, and recyclability, thus being used in
various end-use industries such as packaging and textile. The polyethylene
terephthalate market is projected to boost an excellent sustainability during the
forecast period (2017-2025). However, growing environmental pollution from the
chemical and petrochemical industries is expected to be one of the key concerns for
the PET market. Despite various environmental concerns of PET use, it is much
favorable in comparison to steel, aluminum, glass and other materials used for
packaging, due to its high weight bearing capacity and light weight, which in turn
reduces the transportation cost by utilizing less space and weight.
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Technological advancement for developing lightweight, high strength and
energy-efficient PET bottles is expected to boost the market growth. For instance, in
2014, SIDEL introduced a new ‘NEW RIGHTWEIGHT’, 0.5 liter bottle for still water,
weighing 7.95 grams, yet offering a superior consumer experience and a top-load
performance of 33 kilograms, without the need for nitrogen dosing, using standard
26/22 closures.
Polyethylene terephthalate can be recycled and reused for manufacturing door
panels, rain coats, industrial sheets and carpets. The closed loop recycling of used
polyethylene terephthalate bottles into new grade PET is expected to subsequently
decrease the environmental pollution by a decreasing the demand for raw material,
consequently increasing the profit margin of the PET bottle manufacturer.
PET is biologically inert material, which does not react with any food or beverages
and offers high resistance to micro-organism. For instance, in December 1992, the
U.S. Food and Drug Administration (FDA) announced the use of recycled PET
bottles, as safe from any kind of microbial contamination and reaction with the
packed food or beverages.
In 2016, the global polyethylene terephthalate market size was pegged at US$ 26.57
billion (revenue) and 27,749.22 kilo tons (volume), The market is expected to expand
at a CAGR of 9.7% in terms of revenue and 7.6% in terms of volume during the
forecast period.
Market Dynamics
Among product type, carbonated soft drink segment is expected to hold dominant
position in the polyethylene terephthalate market over the forecast period, at a
CAGR of over 10.1% in terms of revenue, and 8.1% in terms of volume. According to
Coherent Market Insights’ analysis, it is estimated that the carbonated soft drink
segment will reach over 7.70 billion by 2017. Since PET bottles or packaging
materials are used as an alternative to silica glass and acrylic materials due to its
superior resistance to micro-organisms, the demand for PET will increase, thereby
driving growth of the global PET market.
Stringent government regulation is expected to be one of the key challenges for
global PET market during 2017-2025. For instance,
● On March 18, 2016, Government of India, Ministry of Forest and
Environment (MoEF) introduced plastic waste management rule 2016.
● Bureau of Indian Standards, IS 14534: 1998--- has issued standard
guidelines on how to recover and recycle plastic waste and what kind of
products could be manufactured from recycled plastics
Regional Insights
In 2016, Asia Pacific, followed by Europe and North America, respectively,
accounted for a major share in terms of revenue and volume, in the global
polyethylene terephthalate market, and the trend is expected to remain the same
over the forecast period. In 2016, the share in terms of volume, held by Asia Pacific
was 68.4% and by Europe was 12.5%. The growing demand for carbonated soft
drinks in Asia Pacific due to growing demand for packaged and ready to eat food
coupled with growing population, and infrastructure development of retail and
hospitality sector is expected to drive growth of the global polyethylene terephthalate
market over the forecast period. According to a study conducted by Coherent Market
Insights, the other drink application segment market is expected to witness a CAGR
of 8.8% from 2017 to 2025, in terms of revenue, which in turn is expected to fuel
growth of the global polyethylene terephthalate market.
Multinational players need to tap potential addressable market in the emerging
regions with the help of geographical expansion
Product portfolio expansion and geographical expansion are the key market trends,
which are expected to shape the industry in the near future. Major players in the
global Polyethylene Terephthalate market include Alpek S.A.B de C.V., RTP
company, BASF SE, The Dow Chemicals Company, Jiangsu Sanfangxiang Group,
Indorama Ventures, M&G Chemicals, Nan Ya Plastics Corporation, Far Eastern New
Century, and Quadrant AG among others.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering
action-ready syndicated research reports, custom market analysis, consulting
services, and competitive analysis through various recommendations related to
emerging market trends, technologies, and potential absolute dollar opportunity.
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Coherent Market Insights
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#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email​​: [email protected]
Author
apeksha motghare
apeksha motghare533   documents Email
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