Press release
Polyethylene Terephthalate Market is Projected to Reach USD 89.6 Billion by 2035
Polyethylene Terephthalate Market is Projected to Reach USD 89.6 Billion by 2035
MarketGenics has released its latest research on the Global Polyethylene Terephthalate (PET) Market, highlighting a strong push from sustainable packaging adoption, textile sector growth, and advances in bio-PET and rPET recycling technologies.
The report notes that Virgin PET holds ~78% of global demand in 2025, while Asia Pacific remains the largest regional market (39.1% share, USD 17.6 Billion revenue in 2025).
Get the complete market breakdown - statistics, insights, and future outlook: https://marketgenics.co/reports/polyethylene-terephthalate-market-65480
Recent Industry Developments
May 2025 - Jindal Poly Films Limited announced a ₹700 crore expansion at its Nashik facility, adding 55,000 tonnes per annum PET production capacity, strengthening its packaging supply chain.
April 2024 - Iterum commissioned a 40,000-tonne rPET recycling plant in Latvia, supplying food-grade recycled PET for Europe's circular economy goals.
January 2025 - Indorama Ventures expanded PET recycling capacity in Poland to meet EU recycled-content mandates for beverage packaging.
Polyethylene Terephthalate Market Forecast 2035
The global PET market was valued at USD 45.1 billion in 2025 and is projected to reach USD 89.6 billion by 2035, growing at a CAGR of 7.1%.
Virgin PET (~78%) dominates due to food-grade compliance, durability, and clarity.
Recycled PET (rPET) is expanding rapidly as beverage brands, led by Coca-Cola, adopt 100% rPET bottles in multiple markets.
Asia Pacific is the largest and fastest-growing region, fueled by urbanization, packaging demand, and expanding textile fiber applications.
To know more about the Polyethylene Terephthalate Market - Download our Sample Report: https://marketgenics.co/download-report-sample/polyethylene-terephthalate-market-65480
Market Dynamics
Driver
Sustainability-Driven Demand in Consumer Goods Packaging
Lightweight, durable, and recyclable PET is the preferred choice for food & beverage packaging. In June 2023, Coca-Cola Europacific Partners launched 100% rPET bottles across Europe, underscoring PET's role in circular packaging strategies.
Restraint
Regulatory Pressure on Single-Use Plastics
Governments are tightening restrictions on plastic waste. For example, Canada expanded its federal ban on single-use plastics in July 2023, impacting virgin PET packaging demand and forcing producers toward recycled or bio-based alternatives.
Opportunity
Commercialization of Bio-Based PET
Bio-PET, derived from sugarcane or corn, reduces reliance on fossil feedstocks while remaining compatible with recycling infrastructure. In April 2023, PepsiCo and Suntory announced scaling of 100% plant-based PET bottles, paving the way for mainstream bio-PET adoption.
Key Trend
Diversification of PET Applications Beyond Packaging
PET is increasingly used in automotive lightweighting and technical textiles. In November 2023, Toray Industries developed PET-based composites for EV applications, reducing weight while maintaining mechanical strength.
Regional Outlook
Asia Pacific (39.1% share, USD 17.6 Bn in 2025) - Dominant market driven by packaging, textiles, and cost advantages. Indorama Ventures expanded capacity in Indonesia to serve rising domestic demand.
Europe - Circular economy regulations accelerating rPET adoption. Iterum's Latvia facility is a major step toward EU recycling mandates.
North America - Strong demand from beverages and healthcare packaging, supported by brand sustainability targets.
Middle East & Africa / South America - Emerging demand for PET in affordable packaging and textiles, supported by urbanization.
Segmental Focus
Virgin PET: Largest product type (~78% share in 2025), driven by food-grade packaging and pharma applications.
Recycled PET (rPET): Rapidly scaling as beverage companies adopt closed-loop packaging systems.
Textiles: Surging PET fiber demand from fast fashion and home furnishings.
Get the Detailed Industry Analysis (including the Table of Contents, List of Figures, and List of Tables) - from the Polyethylene Terephthalate Market Research Report: https://marketgenics.co/press-releases/polyethylene-terephthalate-market-65480
Competitive Landscape
The global PET market is moderately fragmented, with the top five players holding ~35% market share in 2025.
Tier 1 Players: Indorama Ventures, Reliance Industries, SABIC, Eastman Chemical.
Tier 2 & Tier 3 Players: Jindal Poly Films, Iterum, Equipolymers, regional recyclers.
Suppliers of feedstock (paraxylene, ethylene glycol) hold high bargaining power, while packaging brands and textile manufacturers are pushing for greater recycled-content integration.
Recent Strategic Moves
Jindal Poly Films (May 2025) - ₹700 crore expansion in Nashik facility, strengthening PET supply for beverages, pharma, and personal care packaging.
Iterum (April 2024) - Launched Latvia rPET plant, producing 40,000 tonnes food-grade rPET annually.
Indorama Ventures (Jan 2025) - Expanded PET recycling in Poland to meet EU beverage bottle mandates.
Key Insight: By 2035, the PET market will unlock USD 44.5 Billion in new opportunities, with recycled PET, bio-PET, and textile applications emerging as the strongest growth engines.
Get a preview of our Polyethylene Terephthalate Market Playbook - your guide to GTM strategy, competitive intelligence, supplier dynamics, and patient behavior trends: https://marketgenics.co/playbook/polyethylene-terephthalate-market-65480
About Us
MarketGenics is a global market research and management consulting company empowering decision makers across healthcare, technology, and policy domains. Our mission is to deliver granular market intelligence combined with strategic foresight to accelerate sustainable growth.
We support clients across strategy development, product innovation, healthcare infrastructure, and digital transformation.
Contact:
Mr. Debashish Roy
MarketGenics India Pvt. Ltd.
800 N King Street, Suite 304 #4208, Wilmington, DE 19801, United States
USA: +1 (302) 303-2617
Email: sales@marketgenics.co
Website: https://marketgenics.co
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