Polyethylene Terephthalate Market Worth to Outgrow by USD 41.5 BN By 2027
Posted On April 02, 2021
According to the research report by Value Market Research, the Global Polyethylene Terephthalate Market is likely to grow to USD 41.5 BN by 2027 with a CAGR of 7.5% during the year 2021-2027. The increased adoption of plastic materials that are recyclable and sustainable across a wide range of industries is the main trending factor for PET market growth. The high demand for PET in the consumable products packaging industry as it is shatterproof, widely available, has an extremely high strength to weight ratio, low price, and does not react to food and water will benefit market growth. The growing popularity of PET in the manufacture of various products like carpet, clothing, industrial strapping, upholstery fabrics, boat sails, automotive parts, fiberfill for winter jackets, sleeping bags, construction materials will lead to steady growth in the market. The various limitations of PET like low impact strength, low moldability than PBT, lack of biodegradation, and affected by boiling water are few constraints hampering the market growth.
Polyethylene terephthalate, whose abbreviated name is PET, or PETE, is one of the most used thermoplastic polymer resins of the polyester family. It can exist either as an amorphous or as a semi-crystalline polymer based on the processing method. PET resins have excellent mechanical, thermal properties, chemical resistance as well as dimensional stability. PET is used in fibers for garments and to make packaging containers for liquids, foods. The use of PET in the thermoforming process for manufacturing, and along with glass fiber in the manufacture of engineering resins, is widely popular. Recycled PETE is used to make fibers, fabrics, sheets for packaging and manufacture automotive parts.
"Global Polyethylene Terephthalate Market Report By Application (Beverages Packaging, Sheets & Films, Consumer Goods, Food Packaging, Non-Food Packaging, Others), By End-Use Industry (Packaging, Electrical & Electronics, Automotive, Construction, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" is an elaborate report providing market data on the basis of segments and geography.
On the basis of Application the market is segmented into Beverages Packaging, Sheets & Films, Consumer Goods, Food Packaging, Non-Food Packaging, Others. By End-Use Industry the polyethylene terephthalate market is categorised as Packaging, Electrical & Electronics, Automotive, Construction, Others. By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Polyethylene Terephthalate is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global Polyethylene Terephthalate Market -
- Beverages Packaging
- Sheets & Films
- Consumer Goods
- Food Packaging
- Non-Food Packaging
By End-Use Industry
- Electrical & Electronics
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Toray Industries, M&G Group, Jiangsu Sanfangxiang Group, Far Eastern New Century, Quadrant AG, Tray-Pak Corporation, Verdeco Recycling Inc., Eastman Chemical Company, lpek S.A.B de C.V., Reliance Industries Ltd., and Dhunseri Petrochem Ltd.
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