The polyethylene terephthalate market is projected to boost an excellent sustainability during the forecast period (2017-2025). However, growing environmental pollution from the chemical and petrochemical industries is expected to be one of the key concerns for the PET market. Despite various environmental concerns of PET use, it is much favorable in comparison to steel, aluminum, glass and other materials used for packaging, due to its high weight bearing capacity and light weight, which in turn reduces the transportation cost by utilizing less space and weight.

In 2016, the global polyethylene terephthalate market size was pegged at US$ 26.57 billion (revenue) and 27,749.22 kilo tons (volume), The market is expected to expand at a CAGR of 9.7% in terms of revenue and 7.6% in terms of volume during the forecast period.

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PET is biologically inert material, which does not react with any food or beverages and offers high resistance to micro-organism. For instance, in December 1992, the U.S. Food and Drug Administration (FDA) announced the use of recycled PET bottles, as safe from any kind of microbial contamination and reaction with the packed food or beverages.
Among product type, carbonated soft drink segment is expected to hold dominant position in the polyethylene terephthalate market over the forecast period, at a CAGR of over 10.1% in terms of revenue, and 8.1% in terms of volume.

In 2016, Asia Pacific, followed by Europe and North America, respectively, accounted for a major share in terms of revenue and volume, in the global polyethylene terephthalate market, and the trend is expected to remain the same over the forecast period. In 2016, the share in terms of volume, held by Asia Pacific was 68.4% and by Europe was 12.5%. The growing demand for carbonated soft drinks in Asia Pacific due to growing demand for packaged and ready to eat food coupled with growing population, and infrastructure development of retail and hospitality sector is expected to drive growth of the global polyethylene terephthalate market over the forecast period.

Multinational players need to tap potential addressable market in the emerging regions with the help of geographical expansion

Product portfolio expansion and geographical expansion are the key market trends, which are expected to shape the industry in the near future. Major players in the global Polyethylene Terephthalate market include Alpek S.A.B de C.V., RTP company, BASF SE, The Dow Chemicals Company, Jiangsu Sanfangxiang Group, Indorama Ventures, M&G Chemicals, Nan Ya Plastics Corporation, Far Eastern New Century, and Quadrant AG among others.

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