Polyethylene Terephthalate Global Market 2023 - By Size, Demand, Future Growth, Business Strategies, Opportunities, Challenges, Competitors, Trends and Drivers For 2032

Year End Offer By The Business Research Company - Get 33% Discount On Opportunities And Strategies Reports And 25% Discount On Global Market Reports

As per The Business Research Company's Polyethylene Terephthalate Opportunities And Strategies Market Report 2023, The global polyethylene terephthalate market reached a value of nearly $39,230.5 million in 2022, having grown at a compound annual growth rate (CAGR) of 5.3% since 2017. The market is expected to grow from $39,230.5 million in 2022 to $61,352.8 million in 2027 at a rate of 9.4%. The market is then expected to grow at a CAGR of 9.5% from 2027 and reach $96,648.8 million in 2032.

Rising demand from the packaging industry is expected to propel the growth of the polyethylene terephthalate market going forward. The packaging industry refers to the sector of the economy where employers and their staff collaborate to package items and goods for customers in exchange for payment. PET is frequently used in the packaging industry since it has so many benefits, such as transparency, toughness, and low production costs. It is used in the production of beverage bottles and is widely used in food packaging, including for trays, jars, cups, and bottles. For instance, according to an article published by MDPI (Multidisciplinary Digital Publishing Institute), a Switzerland-based publisher of open access articles, the production of plastic packaging is expected to increase from 140 million tons in 2023 to around 180 million tons in 2029, reflecting the rising demand in the packaging industry. Therefore, rising demand from the packaging industry is driving the growth of the polyethylene terephthalate market.

PURCHASE the report @ https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12833

View Complete Report @ https://www.thebusinessresearchcompany.com/report/polyethylene-terephthalate-market

Major companies operating in the polyethylene terephthalate market are focusing on setting up new recycling plants to strengthen their product portfolio. For instance, in June 2023, ALPLA Group, an Austria-based packaging solutions company, will build a state-of-the-art PET recycling plant in South Africa. The plant signals the company's entry into the African recycling sector and has an annual production capacity of 35,000 tons of recovered PET material. ALPLA is investing roughly $65.24 million (60 million euros) in the development of the local circular economy. Furthermore, in June 2023, PT ALBA Tridi Plastics Recycling Indonesia, an Indonesia-based plastic recycling company and a subsidiary of ALBA Group Asia, will build a polyethylene terephthalate (PET) recycling facility. This project highlights Indonesia's potential for PET recycling, and the Certified Blue Loan program seeks to increase investment in waste management and recycling. To construct a polyethylene terephthalate (PET) recycling facility, the firm and the Asian Development Bank (ADB) have signed a $44.2 million blue loan agreement.

The top opportunities in the polyethylene terephthalate market segmented by product type will arise in the virgin segment, which will gain $16,902.1 million of global annual sales by 2027. The top opportunities in the polyethylene terephthalate market segmented by application will arise in the beverages segment, which will gain $9,761.2 million of global annual sales by 2027. The top opportunities in the polyethylene terephthalate market segmented by end user industry will arise in the packaging segment, which will gain $15,715.5 million of global annual sales by 2027. The polyethylene terephthalate market size will gain the most in USA at $6,203.1 million.

Polyethylene Terephthalate Market Segmentation:
The polyethylene terephthalate market is segmented by product type, by application and by end user industry

By Product Type
The polyethylene terephthalate market is segmented by product type into
a) Virgin
b) Recycle

By Application
The polyethylene terephthalate market is segmented by application into
a) Beverages
b) Sheets And Films
c) Consumer Goods
d) Food Packaging
e) Other Applications

By End User Industry
The polyethylene terephthalate market is segmented by end user industry into
a) Packaging
b) Electrical And Electronics
c) Automotive
d) Construction
e) Other End Use Industries

Major players in the Polyethylene Terephthalate market include Indorama Ventures Public Company Limited, Far Eastern New Century Corporation, Alpek S.A.B de C.V., Reliance Industries Limited, SABIC

The regions covered in the global Polyethylene Terephthalate market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Download FREE SAMPLE Report - https://www.thebusinessresearchcompany.com/sample_request?id=12833&type=smp

The latest report from The Business Research Company, 'Global Polyethylene Terephthalate Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Polyethylene Terephthalate Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
…………………………………..
20. Company Profiles
21. Key Mergers And Acquisitions
22. Opportunities And Strategies
23. Polyethylene Terephthalate Market, Conclusions And Recommendations
24. Appendix

Get to know us better:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/

This release was published on openPR.