Polyethylene terephthalate is also known as PET/PETE and is the most common thermoplastic polymer resin in the polyester family. It is produced by combining raw materials such as monoethylene glycol and purified terephthalic acid. It is used in thermoforming applications such as in fibers for clothing, containers for liquids and foods, and in combination with glass fiber for engineering resins. It is widely used for the formation of plastic bottles, which are increasingly adopted across the food & beverage industry, owing to its excellent water and moisture barrier material properties. PET is produced from ethylene glycol, which is usually called monoethylene glycol (MEG). It is made from a combination of MEG and dimethyl terephthalate (DMT) (C6H4(CO2CH3)2) but mostly terephthalic acid.

According to a new report published by Allied Market Research, titled, “Polyethylene Terephthalate Market," The polyethylene terephthalate market size was valued at $30.3 billion in 2022, and is estimated to reach $54.4 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

Polyethylene terephthalate is a thermoplastic polymer resin in the polyester family. It is produced by polymerizing monoethylene glycol and terephthalic acid. It is used for thermoforming in clothing fibers, liquid and food containers, and engineering resins. Its excellent water and moisture barrier properties make it popular in the food and beverage industry, particularly for plastic bottles.

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The demand for eco-friendly packaging materials is also on the rise, with companies focusing on long-term sustainability goals and creative product design to respond to consumer pressures. In addition to that, the global FMCG industry has seen a surge in the consumption of PET bottles due to their cost-effectiveness, superior quality, and longer shelf life.

Further, the rapid development of the global FMCG industry has led to a plethora of advances in the consumption of PET bottles across the globe which has further experienced rapid growth in the past couple of decades. Emerging economies such as India, China, and Brazil are expected to account for a significant share of the global polyethylene terephthalate market and are expected to experience a rapidly growing population base during the forecast period.

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Key Benefits For Stakeholders
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the polyethylene terephthalate market analysis from 2022 to 2032 to identify the prevailing polyethylene terephthalate market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the polyethylene terephthalate market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global polyethylene terephthalate market trends, key players, market segments, application areas, and market growth strategies.

Key Market Players:
NAN YA PLASTICS CORPORATION, RTP Company, LOTTE Chemical CORPORATION, Indorama Ventures Public Company Limited, DSM, LyondellBasell Industries Holdings B.V., SABIC, DuPont, BASF SE, LANXESS
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Key findings of the study:
• By type, the virgin segment was the highest revenue contributor to the market in 2022, growing with a CAGR of 6.0%.
• Based on application, the packaging segment was the highest revenue contributor to the market in 2022.
• Region wise, Asia-Pacific dominated the market in 2022.

FAQ’s:
Q1. What is the estimated industry size of Polyethylene Terephthalate ?
A. The polyethylene terephthalate market valued for $30.3 billion in 2022 and is estimated to reach $54.4 billion by 2032, exhibiting a CAGR of 6.1% from 2023 to 2032
Q2. What is the key driver for Polyethylene Terephthalate Market?
A. Surge in demand from packaging industry is the key driver for Polyethylene Terephthalate Market.
Q3. What is the leading application of Polyethylene Terephthalate Market?
A. Packaging is the leading application of Polyethylene Terephthalate Market.


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