Close Lucintel Chat
Didn't Find What You're Looking for?
Call us at +1972 636 5056 or write at helpdesk@Lucintel.com
Ask an Expert Provide Custom Requirements Download Sample Report Search Available Reports
  • helpdesk@Lucintel.com
  • |
  • Call Lucintel +1 972 636 5056
  • |
  • Login
  • |
  • Register
  • |
  • Search
  • |
'
...

The Impact of COVID-19 is included in Polyethylene Terephthalate Resin Market. Buy it today to get an advantage.

Request the impact of COVID-19 on your product or industry


Polyethylene Terephthalate Resin Market Trends and Forecast

Lucintel finds that the future of the global polyethylene terephthalate resin market looks promising with opportunities in the food and beverages, consumer goods, industrial, medical, electrical and electronics, and textile end uses. The global polyethylene terephthalate resin market is expected to reach an estimated $43 Million by 2030 with a CAGR of 5% from 2024 to 2030.  The major drivers for this market are growing demand for application in packaging for water, carbonated soft drinks, pharmaceuticals and other food & beverages in developing countries.

Polyethylene Terephthalate Resin Market

The polyethylene terephthalate, or PET (Polyethylene Terephthalate) is a global market that mainly uses purified terephthalic acid or dimethyl terephthalate and ethylene glycol to make PET resin. The resin is known for its clearness, durability as well as recyclability. Additionally it includes stabilizers, colorants and modifiers which enhance the performance of this substance. Packaging materials, textile fibers and engineering plastics contain PET since it has excellent barrier properties and versatile processing methods. Comparatively speaking, the prices for PET resins are reasonably competitive with other plastic commodities such as polypropylene (PP) and polyethylene (PE) albeit they are smaller than these of chemical grade polymers like polycarbonate (PC) and polyamide (PA). Hence costs of raw materials, efficiency in production process, and demand for product among others establish price competitiveness resulting in investment feasibility thus allowing its use in many applications.
  • Lucintel forecasts that food and beverage will remain the largest end use whereas medical is expected to witness highest growth over the forecast period by value and volume due to its higher demand in various products for healthcare industry.
  • Bottle will remain the largest segment due to its wide application area in food and beverage and consumer goods industries.
  • Asia Pacific is expected to remain the largest market by value and volume and it is also expected to witness the highest growth over the forecast period due to its use of engineering plastic products in the packaging sector.

Country wise Outlook for the Polyethylene Terephthalate Resin Market

The PET resin market is witnessing substantial growth globally, driven by increased demand from various industries such as gas carriers and storage, transportation, life support, and recreational. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major polyethylene terephthalate resin producers in key regions: the USA, Germany, China, India, and Brazil.

Polyethylene Terephthalate Resin Market by Country

Emerging Trends in the Polyethylene Terephthalate Resin Market

Emerging trends in the PET resin market shaping its future applications and market dynamics:
  • Increase in Recycling and Sustainability Initiatives: There has been such a rise in sustainability that other PET materials have been created. PET is not used for food grade packaging as it is made from advanced recycling processes using quality PET.
  • Biodegradable/bio-based PET: Is it possible to create PET out of plant based inputs? It would take less carbon to produce than conventional PET but still shows the same characteristics of bio-PET.
  • Adoption of Advanced Recycling Technologies: In the process, PET gets broken down into its monomers. This clears way for purification and re-polymerization leading to virgin-quality PET. Chemical recycling also allows use of hard-to-process mechanical recycling methods of waste PET.
  • Improved Barrier Properties: Polymer applications such as beverage packaging, medical etc. are now easier thanks to these recent developments in additives and coatings.


Polyethylene Terephthalate Resin Market Emerging Trend

A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below.
Polyethylene Terephthalate Resin Market by Segments

Recent Developments by the Polyethylene Terephthalate Resin Market

Recent developments in polyethylene terephthalate resin market by various sectors of the polyethylene terephthalate resin market which have been highlighted by recent developments:
  •  Recycled PET (PET): Companies have been substituting the use of recycled PET in their products as a way to decrease environmental damage. Chemical recycling, for example, these innovations in recycling technologies result into better qualities and purity of PET that is used for applications where high performance is required.
  • Closed-Loop Recycling: Concentration on closed-loop recycling systems by some firms ensures that PET bottles and containers are collected, recycled and reused within the same sector thereby reducing plastic waste considerably.
  • Reduced Material Usage: The improvement in PET resin formulations has enabled manufacturers to produce lighter bottles and packaging without compromising their strength or durability. Subsequently, this will lead to reduced material usage while at the same time transportation costs leading to overall sustainability.
  • Enhanced Barrier Technologies: Better coatings which block oxygen, carbon dioxide or moisture as well as multilayered PET bottles that extend the shelf life of beverages or food through sophisticated techniques are developed
  • Plant-Based Sources: Businesses are creating biobased PET resins from renewable feedstock such as sugarcane or corn. This will reduce reliance on fossil fuels and also cut down carbon footprint from production of PET.
  • Smart Packaging: RFID tags or QR codes integrated into PET packaging allow enhanced value proposition for brands including tracking, authentication, consumer engagement. This would be a great benefit for both producers and customers.
  • Energy-Efficient Manufacturing: Innovations in energy use reduction during pet production processes are being made with emphasis on improving its efficiency. These include advances in polymerization technology application and adoption of renewables by manufacturing plants
  • High-Performance PET: High-performance hot-fill packaging materials, such as hot-fill containers for engineering plastics have been developed based on high-performance polyethylene terephthalate (PET) resins with improved mechanical properties, heat resistance and clarity.
  • BPA-Free Initiatives: Ensuring global compliance with highly stringent consumer safety requirements demands protection of consumers from harmful ingredients in PET resins like Bisphenol A (BPA).

Strategic Growth Opportunities for Polyethylene Terephthalate Resin Market

Among the polyethylene terephthalate (PET) resin market, there are numerous strategic growth opportunities because of its versatility, recyclability, and wide use in packaging and textiles. Here is a more comprehensive look at these opportunities:
Market Expansion
  • Emerging Economies: Asia-Pacific, Latin America, and Africa have increasing urbanization drive and high disposable incomes leading to rising demand for consumer goods, packaging materials, textiles.
  • Non-Traditional Markets: In the construction industry as well as automotive or electronics sectors other than the conventional packaging applications where it will be possible to deploy PET’s light weightiness and durability.
Product Innovation
  • High-Performance PET: Specialized applications like hot-fill containers, microwaveable packaging systems, high-strength fibers can necessitate creation of improved grades of PET with enhanced barrier properties, heat resistance as well as strength.
  • Sustainable PET: To meet growing customer expectations and regulatory demands on sustainability requires investments in development of bio-based PET and chemically recycled PET (rPET).
  • Smart Packaging: Enhance shelf life safety standards as well as food security aspects via innovations for inclusion of sensors or indicators in the packaging technologies that contain PET.
Increasing Sustainability Initiatives
  • Recycling Infrastructure: Improve recycling infrastructure to scale up collection and processing of used PET reducing environmental pollution while boosting recycled PET availability.
  • Circular Economy Models: Designing products for recyclability; supporting closed-loop recycling programs; enhancing brand engagement with retailers are some ways through which circular economy principles can be implemented to foster sustainability within the domain of consumption made by consumers’ societies and defined by them.
  • Eco-Friendly Manufacturing: Lowering carbon emissions during production through use of low emission production methods that require less energy inputs makes manufacturing processes environmentally friendly.

 
Strategic Partnerships and Collaborations
  • Industry Collaboration: It involves partnering with companies in different areas such as raw material providers/recyclers/end-users along pet value chain towards promoting sustainable industry and encouraging innovations.
  • Research and Development: Collaborative research efforts with universities and other research institutions can support the advancement of PET technologies as well as identification of newer applications for them.
Regulatory Compliance and Standards
  • Global Standards Adherence: The products made from PET should meet the international standards set out by such agencies in order to ensure easy market entry as well as consumer health protection.
  • Certification and Labeling: Consumer trust depends on their confidence in safety measures employed during production processes hence getting certification or establishing labeling programs that indicate how environmentally friendly they are helps build such trust among customers.

PET Resin Market Drivers and Challenges

Complex interplays among factors steer the global PET resin market. Bottled beverages are gaining popularity, PET is recyclable and sustainable while packaging industry grows. On the other hand, market experiences few challenges including volatile raw materials prices, environmental concerns, competition from alternative materials, poor recycling infrastructure and supply chain disruptions. To maneuver in this vibrant market therefore stakeholder must be aware of these things.
The key drivers for the global PET resin market include:
  1. Growing Demand for Bottled Beverages: Increasing consumption of bottled water, soft drinks and other beverages results in demand for PET resin because it is light and unbreakable.
  2. Recycling Capability and Sustenance: One key benefits of PET are that it can be recycled thus meeting environmental standards as well as consumer’s preference to use sustainable packaging options.
  3. Expansion in Packaging Sector: The use of PET resin in packaging materials across sectors such as food and beverage industry, cosmetics sector or pharmaceuticals among others has resulted to increased market growth.
  4. Advancements in Technology Landscape: Many improvements have been made regarding production processes of PET resin improving its properties so that it can compete better with different substitute products.
  5. Urbanization Increase and Disposable Income: This material sees more use within emerging markets due to increased urbanization rates coupled with rising disposable incomes.
The challenges in the global PET resin market include:
  1. Raw Material Price Fluctuation: Unpredictable costs of crude oil together with ethylene glycol make production very expensive thus reducing profit margins.
  2. Environment Concerns and Regulations: Such issues as plastic waste which involve more stringent regulations on recycling have made manufacturers adopt new polymers instead of using polyethylene terephthalate resins (PET).
  3. Rivalry with Other Products: Competition comes from glass, aluminum cans as well as biodegradable plastics that wish to push out this product from market shelves.
The industry is anticipated to develop because demand for bottled beverages, sustainability tendencies and packaging evolution are also rising. However, there are various hiccups that this market may face including feedstock price volatility, alternative materials competing with it; poor plastics recycling systems and environmental concerns among others. It is thus important for players aiming at capitalizing on market opportunities and securing long-term survival to manage these aspects efficiently.

PET Resin Suppliers and Their Market Shares

In this globally competitive market, several key players such as Indorama Ventures, Alpek, Far Eastern New Century, Sinopec Group, and Nan Ya Plastics etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players, contact          us.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies PET resin cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the PET resin companies profiled in this report include.
These companies have established themselves as leaders in the global PET resin market, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations. 
The market share dynamics within the polyethylene terephthalate resin market are evolving, with the entry of new players and the emergence of innovative PET resin market technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.

Polyethylene Terephthalate Resin Market by Segment

There is significant growth in various segments of the PET resin market. The beverage industry remains key, with an upsurge in demand for PET bottles for water, soft drinks and other drinks due to their lightness and recyclability. Food packaging is another segment that is growing because of the need for safe, transparent and tough packaging solutions. Textile industry also demonstrates growth as polyester fibers used in clothing and home textiles are usually manufactured from PET resin. Moreover, there is increased adoption of PET resins by automotive sector such as interior components and under-the-hood parts. Additionally, pharmaceutical packaging demands more PET because of its excellent barrier properties and safety standards. 
The study includes trends and forecast for the global polyethylene terephthalate resin market by end use, product type, and region as follows:

Polyethylene Terephthalate Resin Market by End Use [Value ($M) and Volume (KT) Analysis for 2018 – 2030]:

Polyethylene Terephthalate Resin Market by Product Type [Value ($M) and Volume (KT) Analysis for 2018 – 2030]:

  • Bottle
  • Films & Sheets
  • Food Packaging
  • Others

Polyethylene Terephthalate Resin Market by Region [Value ($M) and Volume (KT) Analysis for 2018 – 2030]:

Lucintel Analytics Dashboard

Features of Recycled Carbon Fiber Market

  • Market Size Estimates: Polyethylene terephthalate market size estimation in terms of value ($M) and volume ( KT )
  • Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
  • Segmentation Analysis: Market size by product type, end use, and region
  • Regional Analysis: Polyethylene terephthalate market breakdown by North America, Europe, Asia Pacific, Middle East and Africa, and South America.
  • Growth Opportunities: Analysis of growth opportunities in different end use, product type and regions for polyethylene terephthalate market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the polyethylene terephthalate market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in PET resin or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.

Lucintel Consulting Services

FAQ

Q1. What is the polyethylene terephthalate resin market size?
Answer: The global polyethylene terephthalate resin market is expected to reach an estimated $43 Million by 2030.         
Q2. What is the growth forecast for polyethylene terephthalate resin market?
Answer: The polyethylene terephthalate resin market is expected to grow at a CAGR of 5% from 2024 to 2030.         
Q3. What are the major drivers influencing the growth of the polyethylene terephthalate resin market?
Answer: The major drivers for this market are growing demand for application in packaging for water, carbonated soft drinks, pharmaceuticals and other food & beverages in developing countries. 
Q4. What are the major end uses for polyethylene terephthalate?
Answer: Food and beverage and consumer goods are the major end uses for polyethylene terephthalate.          
Q5. What are the emerging trends in polyethylene terephthalate resin market?
Answer: Emerging trend, which have a direct impact on the dynamics of the industry, include bio based polyethylene terephthalate resin.
Q6. Who are the key polyethylene terephthalate resin companies?
Answer: Some of the key polyethylene terephthalate resin companies are as follows:
  • Indorama Ventures Public Company Ltd.
  • Alpek
  • Far Eastern New Century Corporation
  • Sinopec Group
  • Nan  ya  Plastic
Q7.Which polyethylene terephthalate resin product type segment will be the largest in future?
Answer: Lucintel forecasts that bottle will remain the largest segment due to its wide application area in food and beverage and consumer goods industries.
Q8: In polyethylene terephthalate resin market, which region is expected to be the largest in next 7 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 7 years.          
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global polyethylene terephthalate resin market by end use (food and beverages, consumer goods, industrial, medical, electrical and electronics, textiles, and others), product type (bottles, films & sheets, food packaging, and Others ), and region (North America, Europe, Asia Pacific, Middle East and Africa, and South America )?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
 
Table of Contents

1. Executive Summary

2. Market Background and Classifications
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends and Forecasts
3.2: Global Polyethylene Terephthalate Resin Market Trends and Forecast
3.3: Global Polyethylene Terephthalate Resin Market by End Use
3.3.1: Food and Beverages
3.3.2: Consumer Goods
3.3.3: Industrial
3.3.4: Medical
3.3.5: Electrical & Electronics
3.3.6: Textile
3.3.7: Other End Uses
3.4: Global Polyethylene Terephthalate Resin Market by Product Type
3.4.1: Bottles
3.4.2: Films & Sheets
3.4.3: Food Packaging
3.4.4: Other Product Types

4. Market Trends and Forecast Analysis from 2018 to 2030
4.1: Global Polyethylene Terephthalate Resin Market by Region
4.2: North American Polyethylene Terephthalate Resin Market Trends and Forecast
4.2.1: North American Polyethylene Terephthalate Resin Market by End Use
4.2.2: North American Polyethylene Terephthalate Resin Market by Product Type
4.2.3: United States Polyethylene Terephthalate Resin Market
4.2.4: Mexican Polyethylene Terephthalate Resin Market
4.2.5: Canadian Polyethylene Terephthalate Resin Market
4.3: European Polyethylene Terephthalate Resin Market Trends and Forecast
4.3.1: European Polyethylene Terephthalate Resin Market by End Use
4.3.2: European Polyethylene Terephthalate Resin Market by Product Type
4.3.3: Italian Polyethylene Terephthalate Resin Market
4.3.4: German Polyethylene Terephthalate Resin Market
4.3.5: French Polyethylene Terephthalate Resin Market
4.3.6: Spanish Polyethylene Terephthalate Resin Market
4.3.7: Turkish Polyethylene Terephthalate Resin Market
4.4: APAC Polyethylene Terephthalate Resin Market Trends and Forecast
4.4.1: APAC Polyethylene Terephthalate Resin Market by End Use
4.4.2: APAC Polyethylene Terephthalate Resin Market by Product Type
4.4.3: Chinese Polyethylene Terephthalate Resin Market
4.4.4: Japanese Polyethylene Terephthalate Resin Market
4.4.5: Indonesia Polyethylene Terephthalate Resin Market
4.5: Middle East and African Polyethylene Terephthalate (PET) Resin Market Trends and Forecast
4.5.1: Middle East and African Polyethylene Terephthalate Resin Market by End Use
4.5.2: Middle East and African Polyethylene Terephthalate Resin Market by Product Type
4.6: South American Polyethylene Terephthalate Resin Market Trends and Forecast
4.6.1: South American Polyethylene Terephthalate Resin Market by End Use
4.6.2: South American Polyethylene Terephthalate Resin Market by Product Type

5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter’s Five Forces Analysis

6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Polyethylene Terephthalate Resin Market by End Use
6.1.2: Growth Opportunities for the Global Polyethylene Terephthalate Resin Market by Product Type
6.1.3: Growth Opportunities for the Global Polyethylene Terephthalate Resin Market by Region
6.2: Emerging Trends in the Global Polyethylene Terephthalate Resin Market
6.3: Strategic Analysis
6.3.1: Capacity Expansion of the Global Polyethylene Terephthalate Resin Market
6.3.2: Mergers, Acquisitions, and Joint Ventures in the Global Polyethylene Terephthalate Resin Market
6.3.3: Certification and Licensing

7. Company Profile of Leading Players
7.1: Indorama Ventures Public Company Limited
7.2: Alpek
7.3: Far Eastern New Century Corporation
7.4: Sinopec Group
7.5: Nan Ya Plastics
7.6: Jiangsu Sanfangxiang Group Co., Ltd.
7.7: Hengyi Petrochemical Co. Ltd.
7.8: Sabic
7.9: JBF Industries Ltd.
7.10: Reliance Industries
7.11: Zhejiang Zhink Group Co. Ltd
.

Buy full report or by chapter as follows

Price by License Type:
[-] Hide Chapter Details
[Chapter Number] [Chapter Name] [Chapter Number Of Pages] [Chapter Price]
Title/Chapter Name Pages Price
Full Report: Polyethylene Terephthalate Resin Market: Trends, Opportunities and Competitive Analysis to 2030 Full Report $ 4,850
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

Please sign in below to get report brochure - Polyethylene Terephthalate Resin Market.

At Lucintel, we respect your privacy and maintain the confidentiality of information / data provided by you
(Please enter your corporate email. * These fields are mandatory )
Have an Account / Returning Visitors?

Follow us on