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Global Polyethylene Terephthalate (PET) Market Size,Trends, Growth Forecast to 2031

Category : Chemicals & Materials | Report Code : 1777 | Pages : 141 | Oct 2024

Report Overview

Polyethylene Terephthalate (PET), also called PETE, is a type of engineering resin.

PET resins are known for their excellent combination of properties such as mechanical, thermal, chemical resistance as well as dimensional stability.

It is polymerized by pure terephthalic acid and ethylene glycol, and mainly used for clothing fabric and household textiles, food and beverage packaging, films, injection moulding, etc.

The global Polyethylene Terephthalate (PET) market size is projected to grow from US$ 116010 million in 2024 to US$ 140270 million in 2030; it is expected to grow at a CAGR of 3.2% from 2024 to 2030.

Analytic Insights Hub' newest research report, the “Polyethylene Terephthalate (PET) Industry Forecast” looks at past sales and reviews total world Polyethylene Terephthalate (PET) sales in 2023, providing a comprehensive analysis by region and market sector of projected Polyethylene Terephthalate (PET) sales for 2024 through 2030. With Polyethylene Terephthalate (PET) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Polyethylene Terephthalate (PET) industry.

This Insight Report provides a comprehensive analysis of the global Polyethylene Terephthalate (PET) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Polyethylene Terephthalate (PET) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Polyethylene Terephthalate (PET) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Polyethylene Terephthalate (PET) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Polyethylene Terephthalate (PET).

The global Polyethylene Terephthalate (PET) market is currently influenced by several key trends:
Sustainability and Recycling: There is a significant push towards sustainability, with increasing demand for recycled PET (rPET) driven by environmental regulations and consumer preferences for eco-friendly products. Many manufacturers are adopting circular economy practices to enhance recyclability.

Growth in Packaging Industry: PET's excellent properties for packaging, particularly in the food and beverage sector, continue to drive demand. Its lightweight, strength, and barrier properties make it a preferred choice for containers and bottles.

Expansion in Emerging Markets: Rapid urbanization and increasing disposable incomes in emerging economies, particularly in Asia-Pacific (e.g., China and India), are fueling the growth of the PET market as consumer goods and packaged products become more prevalent.

Technological Advancements: Innovations in PET manufacturing, such as the development of bio-based PET and improvements in processing technologies, are enhancing product performance and reducing environmental impact.

Market Consolidation: The PET resin market is seeing mergers and acquisitions among major players, which aim to improve production efficiencies, expand product offerings, and enhance global reach.

Shift to E-commerce and Convenience Packaging: The rise of e-commerce is influencing packaging requirements, leading to increased demand for lightweight and durable PET products that can protect goods during transit.

Global key players of Polyethylene Terephthalate (PET) include Tongkun Group, Xin Feng Ming Group, Zhejiang Hengyi, Indorama Ventures, Alpek, etc. The top five players hold a share about 33%. Asia-Pacific is the largest market, and has a share about 76%, followed by Europe and North America with share 9% and 9%, separately. In terms of product type, PET Filament is the largest segment, accounting for a share of 51%. In terms of application, Apparel is the largest field with a share about 39%.

This report presents a comprehensive overview, market shares, and growth opportunities of Polyethylene Terephthalate (PET) market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
    PET Filament
    PET Staple
    Bottle Grade PET
    Film Grade PET

Segmentation by Application:
    Apparel
    Household Textiles
    Bottle Packaging Container
    Automotive Decoration
    Electronics & Electrical
    Building and Construction
    Others

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
    Tongkun Group
    Xin Feng Ming Group
    Zhejiang Hengyi
    Indorama Ventures
    Alpek
    FENC
    Reliance Industries
    Sheng Hong Group
    Hengli Group
    Billion Industrial
    Rongsheng Petrochemical
    Sanfangxiang Group
    Sinopec Yizheng
    CR Chemical Materials
    JBF Industries
    NanYa
    Wankai New Materials
    Dhunseri Ventures Limited
    SABIC
    NEO GROUP
    Lotte Chemical
    Toray
    KoKsan
    Sibur (Polief)
    Asia Pacific Fibers (APF)

Key Questions Addressed in this Report
What is the 10-year outlook for the global Polyethylene Terephthalate (PET) market?
What factors are driving Polyethylene Terephthalate (PET) market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Polyethylene Terephthalate (PET) market opportunities vary by end market size?
How does Polyethylene Terephthalate (PET) break out by Type, by Application?

Frequently Asked Questions?

Ans - The purpose of a Polyethylene Terephthalate (PET) market research report is to provide data-driven insights and analysis on a Polyethylene Terephthalate (PET) market. It helps businesses understand industry trends, competition, consumer behavior, market size, growth potential, and risks, supporting strategic decision-making.

Ans - Market research reports typically include both quantitative (market size, revenue, growth rates) and qualitative (trends, consumer preferences, competitive analysis) data. It often includes industry statistics, surveys, expert opinions, historical data, and future forecasts.

Ans - The forecast period typically for Polyethylene Terephthalate (PET) market report spans the next 5 to 10 years. It includes projected market trends, growth opportunities, and potential challenges.

Ans - Yes, Analytic Insights Hub customization services, allowing businesses to focus on specific geographies, sectors, or market segments that are relevant to them.

Ans - The report highlights major trends such as technological innovations, consumer behavior shifts, regulatory changes, or emerging markets that may impact the industry?s growth.