Polyethylene Terephthalate Market Insight | New Innovations Trends, Research, Global Share and Growth Factor Forecast 2021-2027
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 Insight 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 insight
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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