Polyethylene Terephthalate Market in the end user industries is projected to drive the market growth during the forecast period, 2021-2030

Market Overview:

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.

North America is another dominant region which is mainly driven by the developed end-use industries. The growing export of food and beverages from the region has further fuelled the need for polyethylene terephthalate in packaging due to its high tensile strength and lightweight. Moreover, the growing adoption of PET in the automobile sector owing to its light weight and fuel efficiency is also expected to boost the market growth in this region. The U.S. and Canada are important countries attributing to this 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.

The global polyethylene terephthalate market share, by region

Source: MRFR analysis

Segmentation:

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 drinks, 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.

 Competitive Analysis

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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