Global Polyethylene Terephthalate Market research report: Information by Product (carbonated soft drink, bottled water, sheet & films, food, non-food and others) by Application (food and beverage, automotive, electronics, others) – Forecast till 2023 —
Polyethylene terephthalate are widely used in the end-use industries such as automobile, food & beverage, electrical & electronics, and others. The global polyethylene terephthalate market is spanned across five regions of the world namely North America Latin America, Europe, and the Middle East & Africa and Asia Pacific. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading, owing to the growing demand from the food & beverage, automobile and electronic industry. The major countries attributing to this growth are India and China. The developing retail sector coupled with the growing working population has augmented the demand for on the go food and beverages which is a major factor positively effecting the market growth.
European market of polyethylene terephthalate is set to grow at a steady pace during the forecast period. The presence of the developed electronic and automobile are the major factor driving the market growth. Furthermore, the growing working population has augmented the demand for on the food and beverage products in turn adding to the market growth. In addition to this, the ever-increasing health consciousness about the foodborne diseases has resulted in the high adoption of polyethylene terephthalate in the food and beverage industry of the region.
Some of the prominent players operating in the Global polyethylene terephthalate market are Alpek S.A.B de C.V (Mexico), RTP company (U.S.), BASF SE (Germany), The Dow Chemicals Company (U.S.), Jiangsu Sanfangxiang Group (China), Indorama Ventures Public Company Limited (Thailand), M&G Chemicals (Italy), NAN YA PLASTICS CORPORATION (Taiwan), Far Eastern New Century Corporation (Taiwan), and The Quadrant group of companies (Switzerland).
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The polyethylene terephthalate market is segmented across five regions: North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be a dominant market with an encouraging CAGR during the forecast period. The flourishing growth in industries and urbanization is fuelling the growth of polyethylene terephthalate in the developing countries of Asia Pacific. Moreover, favorable government regulation has attracted many players to enter the lucrative market of Asia Pacific which in turn is fuelling the market growth. Furthermore, the development of retail sector coupled with the growing demand for convenience food is further expected to surge the market growth. In addition to this, the shifting manufacturing cost along with the growing research and development for innovative packaging is a major opportunity in this region.
North America is another dominant region in the market of polyethylene terephthalate. The developed end-use industries such as automobile and electronics among others are significantly driving the market growth. Moreover, the growing working population coupled with a fast-paced lifestyle has augmented the demand for on-the-go food and beverages which is expected to contribute substantially to the growth of the market. In addition to this, the growing technological innovations in the region for the development of environment friendly PETE is a major opportunity in the region.
The European market is a lucrative market mainly driven by the developed electrical & electronics, and automobile sector. The growing use of polyethylene terephthalate in vehicle to reduce its weight and emissions is a major factor driving the market in this region.
The global polyethylene terephthalate market on the basis of product types and application. On the basis of product types, the market is segmented as carbonated soft drink, energy drinks, bottled water sheets & films, food and non-food and others. On the basis of application industry, the global polyethylene terephthalate market is segregated into food & beverages, electronics, automotive, and others.
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The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Polyethylene terephthalate market manufacturers
Traders and Distributors of Polyethylene terephthalate market
Production Process Industries
Raw Material Suppliers
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