Polyethylene Terephthalate Market Growth 2019-2026 by Top Key Players – Alpek S.A.B de C.V, BASF SE, DuPont de Nemours etc.

Polyethylene Terephthalate Market

Polyethylene terephthalate (PET) is a polymer commonly known as PET. The polymer is extensively used in packaging, fabrics, films, molded parts for automotive and electronics, among others. The polymer is mainly used as flexible packaging for FMCG products or daily-use consumer products such as water bottles, toothpaste, cosmetics, and personal care and hygiene products. Polyethylene terephthalate is resistant to oil, alcohol, diluted acid, aliphatic hydrocarbons, and grease. It has moderate resistance to diluted alkali halogenated and aromatic hydrocarbon. It is witnessing huge demand in the food and beverage industries, further driving the market growth. The production of PET bottles worldwide was 485 billion in 2016.

Shifting preference towards bottled water is compelling the market players to introduce a new variety of water, such as sparkling water, minerals infused water, and flavored bottled water, among others.  As per the International Bottled Water Associations 2018 report, in the U.S.., the bottled water market consumption increased from 12,808 million gallons to 13,7105 million gallons. Similarly, per person consumption of bottled water is projected to reach more than 50 gallons in the coming years. Polyethylene Terephthalate (PET) is extensively used for packaging bottled water as it is recyclable and environment-friendly.

Polyethylene Terephthalate(PET) is used in packaging, automobile, electrical electronics, textiles, and household appliance industries. It is transparent and non-biodegradable —meaning it breaks into smaller fragments and pollutes water bodies by seeping underground and contaminating soil — which is restraining the market growth. To address the situation, the governments across the globe have imposed stringent regulations in terms of PET disposal, further hampering the market growth. For instance, Basel Conference of the Parties, held in May 2019, amended the Basel Convention to include plastic waste in a legally binding framework. The countries will have to take prior consent before exporting mixed plastic. Furthermore, rising environmental awareness regarding plastic pollution has compelled the governments to ban plastic, further impeding the market growth.

The COVID-19 pandemic has increased the demand for consumer goods with ready to eat packaged foods and other perishable goods flying off the shelves. The pandemic has also accelerated the demand for online food delivery and other essential goods. Companies like Amazon, Walmart, and Target in the U.S are channelizing efforts to offer consumer goods in such challenging times. The pandemic is also causing panic buying and hoarding of essential goods such as hand sanitizers by consumers. FMCG industry employs extensive use of Polyethylene Terephthalate (PET) for packaging processed foods, beverages, cosmetics, and toiletries, among others.

Asia Pacific held the largest share in the plastic and polymer production across the world. As per the Gulf Petrochemicals & Chemical Association, the global polymer sales value was around USD 851 million, of which Asia-Pacific alone accounted for 67% of polymers sales in 2016. China is the largest producer of thermoplastics, such as polyethylene terephthalate, in the region. The country alone produced 92.1 million tons of thermoplastic in 2016, which is around 31% of the global production of thermoplastic. In the same year, Asia-Pacific, excluding China, produced about 63.1 million tons of thermoplastic and contributed around 21% to the global sales volume.

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The Major Prominent Players Covered in this Report:
Alpek S.A.B de C.V, BASF SE, DuPont de Nemours, Inc, Indorama Ventures, Lanxess Corporation, KoninklijkeDSM N.V, Dhunseri Petrochem Ltd, Eastman Chemical Company, Reliance Industries Ltd, Distrupol, Verdeco Recycling Inc, SRF Limited, RadiciPartecipazioni S.P.A, Kolon Plastics, SABIC , & More.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

By Application, Polyester fiber, Packaging resin,
By End-User, Packaging industry, Electrical & electronics, Automotive, Household appliance, Textile

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Polyethylene Terephthalate Market Trends:
- The report identifies, determines, and forecasts the Global Polyethylene Terephthalate Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Polyethylene Terephthalate Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Polyethylene Terephthalate Market.

Key Questions Answered in The Report:
What will the Polyethylene Terephthalate market growth rate?
What are the key factors driving the global Polyethylene Terephthalate market?
Who are the key manufacturers in the Polyethylene Terephthalate market space?
What are the market opportunities, market risk, and market overview of the Polyethylene Terephthalate market?
What are sales, revenue, and price analysis of top manufacturers of the Polyethylene Terephthalate market?
Who are the distributors, traders, and dealers of the Polyethylene Terephthalate market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Polyethylene Terephthalate Industry?
What are sales, revenue, and price analysis by regions of Polyethylene Terephthalate industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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