Polyethylene Terephthalate Market Research Report 2029 | Polyethylene Terephthalate Industry Size, Share, Key Players - M&G Chemicals, SABIC, DAK Americas, DuPont and Forecast by 2029

Various regulatory measures are being undertaken by governments to promote the use of safe packaging materials for food products. The increasing demand to protect packaged food products is promoting the Polyethylene Terephthalate (PET) Market, predicts a Fortune Business Insights™ 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, 2022-2029." The report offers a qualitative and quantitative approach to the overall market and its prime growth trajectories.

Objectives of the Report

The report on polyethylene terephthalate (PET) market offers a comprehensive overview of the market. List of factors boosting, propelling, challenging, and creating opportunities for the market. The report also throws light on the different segments of the market and the names of the leading segments with supporting evidence. Besides this, the report lists the names of significant market vendors and the key strategies adopted by them to gain a competitive edge in the market in the future. In conclusion, the report presents key industry developments and other polyethylene terephthalate (PET) market trends. For more information on the report or to purchase the report, one may refer to the company website.

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Increased Demand for Frozen Food is Propelling Growth

An important factor driving the polyethylene terephthalate (PET) market is the increasing demand for bio-based plastic materials. Apart from this, there is a rise in demand from the food and beverage sector for carbonated drinks packaging, frozen food packaging, and other products from the food and beverage sector. The factor mentioned above is further expected to help increase the overall polyethylene terephthalate (PET) market size in the forecast period.

On the contrary, factors such as strict environmental policies and environmental degradation regulations may pose a serious threat to the overall polyethylene terephthalate (PET) market growth. Furthermore, the rise in prices of crude oil, coupled with the fluctuating prices of raw materials may also cause hindrance to the overall polyethylene terephthalate (PET) market size in the forthcoming years.

Nevertheless, the increasing demand from electronics and electric sectors is likely to create lucrative polyethylene terephthalate (PET) market growth opportunities in the long run.

Presence of Well-established Electronic and Automotive Industries to Help North America Earn Significant Revenue

Geographically, the global polyethylene terephthalate (PET) market is widespread into Latin America, Europe, Asia Pacific, North America, and the Middle East and Africa. These regions are further divided into nations. As per a lead analyst at Fortune Business Insights™, Asia Pacific is dominating the market. China emerges as the largest consumer of polyethylene terephthalate and this is attributable to the high polyethylene terephthalate market demand from food and beverage industries. People in China have a high preference for packaged and ready-to-eat food products. Therefore, there is a high demand for PET products from China. On the other side, North America is also anticipated to witness significant growth on account of the well-established presence of electronic and automobile industries in the region.

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Mergers and Acquisition Strategies Adopted by Major Players for Better Revenue Generation

Various polyethylene terephthalate (PET) market manufacturers are focusing on mergers and acquisitions, collaborative agreements, and other related strategies to make their mark in the competition. They are also investing huge sums into opening new projects for PET recycling operations or for setting up of petrochemical projects.

Some of the key industry developments in thepolyethylene terephthalate (PET) marketare:

April 2017 - M & G Chemicals and their largest resin-processing plant became completely operational. This plant can process a million tons of PET resin on an annual basis.

June 2017 - The petrochemical project in Saudi Arabia was announced to start operations from 2020 by Pan Asia PET Resin Co. This plant is anticipated to manufacture 1 million tons of PET every year.

January 2019 - PET recycling facility from Perpetual Recycling Solutions was acquired by DAK Americas. These PET recycling operations have an annual capacity of producing 45,000 tons of high quality recycled PET also called rPET.

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

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

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