Transparency Market Research in its new report titled, “Polyethylene Naphthalate (PEN) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the polyethylene naphthalate market. The TMR report anticipates that the increasing demand from automotive and electronics industry will drive the polyethylene naphthalate market during the forecast period i.e, 2018-2026. As per the report, the applications of polyethylene naphthalate is seen in packaging, beverage bottling, electronics, and automotive tyres. Among these, the demand for polyethylene naphthalate is expected to be high in packaging as it helps in reducing oxidation and increasing shelf life until food is finally consumed. It also provides high shrinkage resistance, high temperature properties, superior barrier properties, and dimensional stability. In addition, polyethylene naphthalate provides heat resistance, low oligomer extraction, anti-hydrolysis, and strengthen which has boosted its demand in electronics industry, the report says.
The report says that the demand for smartphones, tablets, laptops, and desktops has increased at a significant rate. In United States itself, the demand for consumer electronic is anticipated to reach US$1.5 tn by the end of forecast period. As polyethylene naphthalate is used for the imaging, pressure sensitive tapes, electrical, thermal sheets, and solar cell protection have will significantly boosted the demand for polyethylene naphthalate in this region. On geographical front, North America is likely to offer huge growth opportunity in this market due to the presence of large number of producers and customers in the U.S. Rising demand for polyethylene naphthalate in the automotive industry as it provide improved mechanical properties, superior resistance to UV rays, and high moisture barrier. These factors led the growth in the global polyethylene naphthalate market. Europe is also expected to drive the demand in this market as it is used in producing high performance sailcloth and laminating sail on boats with high resistance from sunlight. In addition, growing demand for electronic vehicles in the regions further boosted the demand for polyethylene naphthalate, says the report.
As per the report, Asia Pacific is anticipated to offer lucrative growth opportunity in this market in the coming years. Increasing demand for packaged products and growing application of polyethylene naphthalate in end use industries including automotive, food and beverages, packaging, and others have led in the demand in this market. In the competitive landscape section, the report has covered prominent vendors operating in the global polyethylene naphthalate market. In this particular market, leading vendors have strategic geographical presence with multiple production facilities across the globe. This has helped them getting stronger hold in the market and provided them a competitive edge in the market. Innovation, collaboration, partnership, mergers, and expansion are some of the most preferred business development strategies used by the vendors operating in this market.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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