Polyethylene Terephthalate Market Trend | Industry Size, Key Vendors, Application Outlook To 2030
Market Overview:
Polyethylene terephthalate Market trend are widely used
in the end-use industries such as automobile, food & beverage, electrical
& electronics, and others. The global Polyethylene
Terephthalate Market Trend 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 Prices 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.
Segmentation:
The global polyethylene terephthalate market trend 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 trends 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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