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Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Global Market Report 2024Market Size, Growth And Overview Report 2024-2033
Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Global Market
As per the report, the polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market size has grown rapidly in recent years. It will grow from $44.17 billion in 2023 to $48.93 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market size is expected to see rapid growth in the next few years. It will grow to $73.47 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
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The Surging Demand For Pet Resins Is Shaping The Pet & Pbt Resins Market
An increase in demand for polyethylene terephthalate (PET) in the packaging sector is expected to propel the growth of the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market going forward. The packaging industry is a business that designs and manufactures packaging products. Polyethylene terephthalate (PET) contains characteristics such as clear, long-lasting, chemically inert, and lightweight, which are suitable for making polyethylene packaging products. For instance, according to the National Renewable Energy Laboratory, a US-based national laboratory, in 2021, over 82 million metric tons of polyethylene terephthalate (PET) were manufactured globally each year to make single-use beverage bottles, packaging, garments, and carpets. Therefore, the increase in demand for PET in the packaging sector drives the growth of the polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market.
Product Innovations Redefining The Pet And Pbt Resin Market
Product innovations are the key trend gaining popularity in the polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market. Major companies operating in the market are focused on introducing new innovative products with reduced carbon footprints to gain a competitive advantage. For instance, in May 2022, SABIC, a Saudi Arabia-based chemical manufacturing company, launched LNP ELCRIN WF0061BiQ PBT resin, produced from chemically upcycled ocean-bound PET bottles. This compound has the potential to reduce CO2 emissions by up to 14% and cumulative energy demand by up to 25% when compared to glass fiber. It is a potential material for consumer electronics applications such as computer fan housings, vehicle seats, electrical connectors, and enclosures.
The polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market covered in this report is segmented -
1) By Type: Transparent And Non-Transparent Pet, Recycled Pet
2) By PET Application: Bottles, Films, Food Packaging, Other PET Applications
3) By PBT Application: Electrical And Electronics, Automotive, Consumer Appliances, Other PBT Applications
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Major companies operating in the polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market include Saudi Basic Industries Corporation, BASF SE, Indorama Ventures Limited, Mitsubishi Chemical Corporation, Toray Industries Inc., Koninklijke DSM N.V., Jiangsu Sanfangxiang Group Co.Ltd., M&G Chemicals SA, DowDuPont Inc., Nan Ya Plastics Corporation, Reliance Industries Limited, Far Eastern New Century Corporation, RTP Company Inc., Kolon Plastics Inc., Celanese Corporation, Distrupol Ltd., Indorama Ventures Limited, Alpek, Lanxess Corporation, LyondellBasell Industries N.V., Eastman Chemical Company, Formosa Plastics Group, JBF Industries Ltd., Grupo Kimex S.A. de C.V., Polyplex Corporation Ltd., Chang Chun Group, Hengli Group Co. Ltd., Wuxi Xingsheng New Material Technology Co.Ltd., China National BlueStar (Group) Co Ltd., Covestro AG, Celanese Corporation, Royal DSM N.V., DowDuPont Inc.
Contents of the report:
1. Executive Summary
2. Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market Report Structure
3. Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market Trends And Strategies
4. Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market - Macro Economic Scenario
5. Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market Size And Growth
…..
27. Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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