Market Analysis: Global Polyethylene Terephthalate (PET) Market

Global polyethylene terephthalate (PET) market is set to witness substantial CAGR of 7.18% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand for lightweight & packed food and increasing investments in R&D activities to produce less hazardous PET materials are the factor for the growth of this market.

Market Definition: Global Polyethylene Terephthalate (PET) Market

PET or polyethylene terephthalate is a tough thermoplastic resin which is used in production of many products such as canes, pouches, bottles, films & sheets and others. They are colorless and are very lightweight in nature. These plastics are considered as re- usable in nature because they don’t percolate any chemicals and are safe for the human as well. These plastics are widely used in industries such as food and beverage, electronics, healthcare, consumer goods and others.

Market Drivers:

Rising disposable income will accelerate the market growth
Growing food and beverage industry drives the market growth
Increasing demand for sustainable and recyclable material will also enhance the growth of this market
Growing demand for frozen and processed food among population will also contribute as a factor for the growth of this market

Market Restraints:

Strict government norms and regulation associated with the usage of PET material will restrain the market
Availability of substitute product in the market will also hinder the growth of the market
Less PET recycling rates due to high contamination will also hamper the market growth

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Segmentation: Global Polyethylene Terephthalate (PET) Market

By Product Type

Bottles
Films and Sheets
Cups
Cans
Pouches
Others

By End- User Industry

Food & Beverage
Automotive
Electrical & Electronics
Healthcare
Consumer Goods
Others

By Application

Beverages
Sheets & Films
Consumer Goods
Food Packaging
Others
Cosmetic Bottles
Household Products

By Material

Glass
Plastics
Metal
Paperboard
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
U.K.
Belgium
Spain
Russia
Turkey
Netherlands
Switzerland
Rest of Europe
Asia-Pacific
Japan
China
India
South Korea
Australia
Singapore
Malaysia
Thailand
Indonesia
Philippines
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
UAE
Saudi Arabia
Egypt
South Africa
Israel
Rest of Middle East and Africa

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Key Developments in the Market:

In February 2019, Indorama Ventures Public Company Limited announced that they have acquired Bevpak (Nigeria) Ltd. The main aim of the acquisition is to improve their polyester-related portfolio in Europe and Africa. This acquisition will help the company to strengthen their position in the market and expand their services worldwide
In October 2018, PTI announced the launch of their new polyethylene terephthalate (PET) bottle system Dromo which is specially designed for the semi- viscous or liquid products. This new product is very beneficial for household chemicals, personal care and other products. This new product is 75% lighter as compared to the other PET bottles and has weight less than 10 gram. They are mainly designed for the e-commerce distribution

Competitive Analysis:

Global polyethylene terephthalate (PET) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of polyethylene terephthalate (PET) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major competitors currently working in the global polyethylene terephthalate (PET) market are Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, JBF Industries Ltd, LOTTE Chemical CORPORATION, Far Eastern New Century Corporation, China Petrochemical Corporation., SABIC, Reliance Industries Limited., RTP Company, Vikas Ecotech Ltd., TEIJIN LIMITED, Hitachi, Ltd., NEO GROUP, UAB; DuPont de Nemours, Inc, Filatex India Limited, Polyplex, Retal Industries LTD., Persian Gulf Petrochemical Industries Co., the Mitsubishi Chemical Advanced Materials group of companies, Verdeco Recycling Inc. and others.