PET Market: High Consumption Of PET For Manufacturing Bottles to Spur Sales Opportunties

The increasing demand for carbonated drinks packaging from the food and beverage industry is a key factor predicted to bolster the growth of the global polythene terephthalate (PET) market, says Fortune Business Insights™ in a report, titled “Polyethylene Terephthalate (PET) Market Size, Share & Industry Analysis, By Grade (Textile, Bottle, Film), By End-Use Industry (Packaging, Textiles, Automotive, Electrical and electronics) and Regional Forecast, 2019-2026” the increasing consumption of frozen and packaged food is expected to fuel demand for polythene terephthalate in the forthcoming years.

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https://www.fortunebusinessinsights.com/industry-reports/polyethylene-terephthalate-pet-market-101743

List of the Major Companies in the Global Polyethylene Terephthalate (PET) Market are:
• Indorama Ventures
• DuPont
• Imperial chemical industry PLC
• DAK Americas
• M&G Chemicals
• Octal Petrochemicals
• Lotte Chemcals
• SABIC
• Nan Ya Plastics
• Rangsheng Petrochemicals
• Zhengbang Fibre.

According to the report, the polythene terephthalate (PET) market based on grade is divided into textile grade, bottle grade, and film grade. The bottle grade PET segment is expected to hold a major share in the market owing to its better versatility, lower price, and physical properties. PET bottles are also recycled for various purposes such as in solar water disinfection, industrial strapping rope, boat sails, sleeping bags and upholstery fabrics.

Furthermore, the packaging end-use industry is predicted to remain dominant during the forecast period owing to it’s characteristics of PET such as chemical resistance, impact resistance and moderate rigidity that makes rigidity makes the material suitable for packaging.

In addition, the surge in the consumption of PET for manufacturing bottles or containers, consumable products such as soft drinks, alcoholic beverages, medicines and detergents is expected to boost the packaging industry. This factor will, in turn, aid the polythene terephthalate (PET) market growth during the forecast period

The polythene terephthalate (PET) market report provides a detailed analysis of all the leading companies operating in the market. The competitive landscape is discussed in detail, and based on extensive research methods, forecast values have been drawn for the market. Besides the competitive scenario, factors such as growth drivers and leading segments are studied precisely.
In addition, the benefits of polythene terephthalate have enabled the broad adoption of products.
In addition, the report encompasses several factors that have made a positive impact on the growth of the global polythene terephthalate (PET) market in recent times.

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Acquisition of DAK Americas for Perpetual Recycling Solutions to Speed Up Market Expansion

The increasing demand for polythene terephthalate in the electronics and automotive industry is predicted to bolster the healthy growth of the market. The growing merger and acquisitions of key players are likely to create sales opportunities for the market in the forthcoming years. For instance, in January 2019, DAK Americas acquired PET recycling facility from Perpetual Recycling Solutions. Perpetual PET recycling operations have an annual capacity of 45,000 tons per year of high quality Recycled Polyethylene Terephthalate (rPET).

Furthermore, in December 2017, Micro Polypet Private Limited (MPPL) merged with IVL Dhunseri Petrochem Industries Pvt. Ltd (IDPIPL), in which Indorama Ventures and Dhunseri Ventures Limited own a 50% venture stake. The merger between the two companies is predicted to spur growth opportunities in the forthcoming years. In addition, the announcement of the petrochemical project in the Middle East is likely to boost the polythene terephthalate (PET) market trends in the foreseeable future. For instance, in June 2017, Pan Asia PET Resin Co. announced that the petrochemical project in Saudi Arabia is likely to become operational in 2020. This plant will produce 1 million tons of PET annually.

However, environmental regulations by the government and threats of substitutes are factors predicted to hamper the growth of the polyethylene terephthalate market during the forecast period.

Low-Cost Production of PET to Enable Growth in Asia Pacific

Geographically, the global polyethylene terephthalate (PET) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Polyethylene terephthalate market in Asia Pacific is expected to dominate the global market in the forthcoming years. China is one of the largest consumers of polyethylene terephthalate (PET). The abundant of raw materials and low cost of production are factors expected to create growth opportunities for the market in the region.

The increasing demand ready-to-eat and packaged food will further bode well for Asia Pacific market. The established automobile and electronics industries are expected to boost revenue in North America. In Europe, the increasing use of PET in vehicles to lessen its weight and reduce emissions is a significant factor expected to influence market growth. Germany is the leading consumer of PET in Europe owing to its automotive industry. In the South American region, the PET market is primarily driven by the food & beverage industry.

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