Polyethylene Terephthalate Market Size | Industry Overview, Development Analysis, Strategic Outlook, Demand Analysis and Forecast by 2027
Market Overview:
Polyethylene terephthalate Market Size are widely used in the
end-use industries such as automobile, food & beverage, electrical &
electronics, and others. The global Polyethylene
Terephthalate Market Size is spanned across five regions of the world
namely North America Latin America, Europe, and the Middle East & Africa
and Asia Pacific. Among these, Asia Pacific holds a major share of the
global market and is projected to continue leading, owing to the growing demand
from the food & beverage, automobile and electronic industry. The major
countries attributing to this growth are India and China. The developing retail
sector coupled with the growing working population has augmented the demand for
on the go food and beverages which is a major factor positively effecting the
market growth.
North America is another dominant region which is mainly driven
by the developed end-use industries. The growing export of food and beverages
from the region has further fuelled the need for polyethylene terephthalate in
packaging due to its high tensile strength and lightweight. Moreover, the
growing adoption of PET in the automobile sector owing to its light weight and
fuel efficiency is also expected to boost the market growth in this region. The
U.S. and Canada are important countries attributing to this growth.
European market of
polyethylene terephthalate is set to grow at a steady pace during the forecast
period. The presence of the developed electronic and automobile are the major
factor driving the market growth. Furthermore, the growing working population
has augmented the demand for on the food and beverage products in turn adding
to the market growth. In addition to this, the ever-increasing health
consciousness about the foodborne diseases has resulted in the high adoption of
polyethylene terephthalate in the food and beverage industry of the region.
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Segmentation:
The global polyethylene
terephthalate market size on the basis of product types and application. On the
basis of product types, the market is segmented as carbonated soft drinks,
energy drinks, bottled water sheets & films, food and non-food and others.
On the basis of application industry, the global polyethylene terephthalate
market is segregated into food & beverages, electronics, automotive, and
others.
Competitive Analysis
Some of the prominent players operating in the Global
polyethylene terephthalate market are Alpek S.A.B de C.V (Mexico), RTP company
(U.S.), BASF SE (Germany), The Dow Chemicals Company (U.S.), Jiangsu
Sanfangxiang Group (China), Indorama Ventures Public Company Limited
(Thailand), M&G Chemicals (Italy), NAN YA PLASTICS CORPORATION (Taiwan),
Far Eastern New Century Corporation (Taiwan), and The Quadrant group of
companies (Switzerland).
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