openPR Logo
Press release

Polyethylene Terephthalate (PET) Market to Attract High Revenue from Rise in Demand from Automotive Sector: Fortune Business Insights™

Polyethylene Terephthalate (PET) Market to Attract High

The global polyethylene terephthalate (PET) market size is prognosticated to rise remarkably owing to the increasing demand for polyethylene terephthalate from the food and beverage sector. In a recent report by Fortune Business Insights™ 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 market is discussed in details.

Browse Report Summary:

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

Some of the key polyethylene terephthalate (PET) market manufacturers include:

• Rangsheng Petrochemicals
• DAK Americas
• Indorama Ventures
• Zhengbang Fibre
• M&G Chemicals
• Lotte Chemicals
• Imperial chemical industry PLC
• Nan Ya Plastics
• Octal Petrochemicals
• SABIC
• DuPont

Highlights of the Report

• Qualitative and quantitative analysis of the market
• Details of growth trajectories such as drivers, restraints, challenges, and opportunities of the market
• Key segmentation of the market based on factors such as grade, end-use industry, and region
• List of significant players and key strategies adopted by them for achieving a competitive edge in the market
• Other polyethylene terephthalate (PET) market trends

Rise in Demand from Food Packaging Industry to Propel Growth

The rise in demand for PET or polyethylene terephthalate from the food industry is a major factor promoting the polyethylene terephthalate (PET) market growth. Industries such as carbonated drinks require PET for packaging, on account of the surge in processed and frozen food consumption. Besides this, the increasing demand from the automotive and electronics industries are anticipated to help increase the overall polyethylene terephthalate market revenue in the forecast period.

On the flip side, strict government regulations imposed on the use of PET may act as a hindrance to the market. Additionally, the evolving market for PET substitutes may pose a threat to the polyethylene terephthalate market, thus hampering the overall polyethylene terephthalate market size. Furthermore, the volatile price of crude oil is resulting in fluctuating raw material polyethylene terephthalate cost. This may cause huge polyethylene terephthalate market growth restrictions in the forecast period.

Request a Sample Copy of the Market Research Report :
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/polyethylene-terephthalate-pet-market-101743

Asia Pacific to Dominate Market on Account of Increasing Demand for Ready-to-eat Food Products

The global polyethylene terephthalate market size to widespread in about five regions, namely Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. The report predicts Asia Pacific to have a dominant polyethylene terephthalate market share, followed by North America. This dominance enjoyed by Asia Pacific is based on the low cost of PET production in the region.

China is considered one of the largest consumers of polyethylene terephthalate, owing to the abundant availability of raw materials in the nation. Apart from this, there is a rise in demand for convenience and ready-to-eat food, which ultimately boosts the demand for PET from the food packaging industry in China. The aforementioned factor is likely to help accelerate the Asia Pacific polyethylene terephthalate market growth in the future.

On the other side, North America market is gaining traction on account of the presence of established electronic and automobile industries. On the other side, the Europe market is expected to grow remarkably on account of the presence of its own automotive industry.

In addition, there is a surge in the use of polyethylene terephthalate in vehicles for reducing its total weight and keep control of carbon emissions to the atmosphere. Additionally, Saudi Arabia is among the largest market in the Middle East and Africa region attributable to the increasing demand for sustainable packaging as a result of the rise in food consumption.

New Operational Setting up of Industries to Intensify Competition

Polyethylene terephthalate (PET) market manufacturers are investing huge sums into processing plants and petrochemical projects. Besides this, companies are also adopting strategies such as merger and acquisitions, company collaborations, and others for gaining a competitive edge in the market.

Key industry developments in the polyethylene terephthalate (PET) market include:

June 2017 – A petrochemical project in Saudi Arabia by Pan Asia PET Resin Co. is anticipated to become operational from 2020. This plant is capable of manufacturing 1 million tons of PET on an annual basis.

December 2017 – IVL Dhunseri Petrochem Industries Pvt. Ltd.(IDPIPL) merged with Micro Polypet Private Limited (MPPL), wherein Dhunseri Ventures Limited and Indorama Ventures owned a 50% venture stake.

January 2019 - PET recycling facility from Perpetual Recycling Solutions was acquired by DAK Americas in January this year. With an annual capacity of 45,000 tons per year, the Perpetual PET recycling operations are expected to producing high quality recycled polyethylene terephthalate or rPET.

Have Any Query? Ask Our Experts:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/polyethylene-terephthalate-pet-market-101743

Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Polyethylene Terephthalate (PET) Market to Attract High Revenue from Rise in Demand from Automotive Sector: Fortune Business Insights™ here

News-ID: 1905257 • Views: 66

More Releases from Fortune Business Insights Pvt Ltd

Electric Bus Market to Exhibit 5.7 % CAGR: Rising Demand for Cost-efficient Publ …
The global electric bus market is prognosticated to reach 291 thousand units by 2026, exhibiting a CAGR of 5.7% during the forecast period 2019-2026 attributed to the increasing need for controlling environmental concerns emitted from automobiles worldwide. As per the United Nations Environment Programme, a significant amount of black carbon emitted from the transportation sector is from urban buses which are further expected to increase in the coming years.
Nylon Market size is expected to reach USD 30.77 Billion by 2026
The global Nylon Market size is expected to reach USD 30.77 Billion by 2026, exhibiting a CAGR of 3.3% during the forecast period. With the surge in water sport activities, such as kite surfing, supping, scuba and kayaking, the production of nylon will increase. As nylon is essential in the manufacturing of water sports products, the initiatives by companies to recycle nylon and launch products will certainly be an imperative
Injection Molded Plastics Market to Hit $513.45 Bn by 2026
The global injection molded plastics market size is expected to reach USD 513.45 billion by 2026, exhibiting a CAGR of 5.1% during the forecast period. Rising uptake of injection molded plastics across different industries is foreseen to be a key growth driver for this market in the forthcoming years. These plastics are being extensively utilized in the food and beverage industry owing to the stringent regulatory norms that govern their
Xenon Market Size to Reach USD 292.26 Million by 2026
Key Companies Mentioned in Xenon Market Research Report are Iceblick Ltd, Electronic Fluorocarbons, LLC, Akela-p Medical Gases P. Ltd, Coregas Pty Ltd, American Gas Products (AGP LLC), Matheson Tri-Gas, Inc, Proton Gases (India) Pvt. Ltd, Messer Group GmbH, Air Products & Chemicals, Inc, Linde plc and Air Liquide The global xenon market size is anticipated to be worth USD 292.26 million by 2026 on account of the increasing demand for xenon

All 5 Releases


More Releases for PET

Recycled PET Market Share, Recycled PET Market Size, Recycled PET Market Trends, …
Scope of the Report: This study provides an overview of the global recycled PET market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for
Global Pet Product Market Segment by Type - Pet Food Products, Pet Drug Products …
Researchmoz added Most up-to-date research on "Global Pet Product Market Segment by Type - Pet Food Products, Pet Drug Products, Pet Health Products, Pet Feeding Products and Pet Clothing Products" to its huge collection of research reports. This report studies the global Pet Product market, analyzes and researches the Pet Product development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top
Pet Guardian App - Keeps Your Pet Healthy and Safe
One of the first things you need to do is to ensure that your pet is eating nutritious and healthy food. There are quite a number of good quality pet food brands to choose from. It's just as important to know what you should not be feeding your pet. These all types of information you will get easily through our Pet Guardian App, as there are cases where the food
Pet Health Products Market
A pet or companion animal is an animal kept primarily for one's company, protection, or entertainment. Popular pets are regularly noted for their attractive appearances and their loyal or playful personalities. While dogs and cats are the most preferred pet animals, people also keep house rabbits, fancy rats, guinea pigs, parrots, chickens, and aquatic pets. The trend of pet adoption and keeping is gaining rapid traction across the globe. The
Pet Project Malaysia 2013
To be held on 23rd March, 2013 (from 9am to 6pm) at The British International School of Kuala Lumpur in association with Expatriate Lifestyle, Pet Project Malaysia is BACK and we are once again “Getting Active to Help Save Animals”. Created in 2011, this is an event to unify the community in supporting animal welfare by doing something FUN and proactive. This event is open to the public and we
Pet Sitters International announces new partnership with Ultimate Pet Websites
Pet Sitters International announces new partnership with Ultimate Pet Websites Pet Sitters International (PSI) is pleased to announce that Ultimate Pet Websites is now a preferred provider for its more than 7,000 member businesses. FOR IMMEDIATE RELEASE PRLog (Press Release) - Aug 19, 2011 - Pet Sitters International (PSI) is pleased to announce that Ultimate Pet Websites is now a preferred provider for its more than 7,000 member businesses. The announcement comes on