Category

Global PET Resin Market - Forecasts From 2019 To 2024

108 pages
Published on : May 2019
Report Code : KSI061612532

Description

The global PET resin market was valued at US$30.295 billion in 2018 and 22.521 million tonnes by volume. PET (Polyethylene Terephthalate) is a clear, strong, lightweight plastic that is widely used for packaging food and beverages. It is most commonly used to package bottled water and carbonated drinks. The demand for PET resin is majorly driven by the food and beverage packaging sector as it is the most commonly used plastic due to its clarity and good barrier protection provided by the material. Good growth of packaging industry due to the rising disposable income of the population is playing an important role in the increased demand for PET resin. Also, the growing demand for bottled water across the globe is accelerating the PET resin market growth. Moreover, the resin is increasingly being utilized to form films, sheets, and foam that are extensively used across end-user industries such as food and beverage, pharmaceutical, automotive, and electrical and electronics. With manufacturers expanding their PET plants in order to meet growing demand and this coupled with constant innovation in producing sustainable or bio-based PET is expected to augment the market growth over the forecast period.

DRIVERS

Burgeoning usage of PET products across the industries

Good growth of food and beverage industry

RESTRAINTS

Availability of substitutes

INDUSTRY UPDATE

In September 2018, Indorama Ventures Public Company Limited and Loop Industries, Inc. announced a joint venture to manufacture and commercialize sustainable PET resin to meet the growing from beverage and consumer packed goods companies.  

In July 2018, NEO GROUP, Leading European resin producer, added 160,000 tpa line at its Baltic plant in Lithuania in order to address to the growing demand for PET across the region.

The major players profiled in the global PET resin market include DAK Americas, Indorama Ventures Public Company Limited, M&G Chemicals, Sanfangxiang Group Co., Ltd., TEIJIN LIMITED, SABIC, NEO GROUP, DuPont de Nemours, Inc., TORAY INDUSTRIES, INC., SCG Chemicals Co., Ltd., LOTTE Chemical Corporation, and Toyota Tsusho Corporation among others.

Segmentation

The global PET resin market has been analyzed through the following segments:

By Product Type

Sheet

Films

Foam

Fiber

 

By Application

Bottles and Jars

Packaging

Food and Beverage

Consumer Goods

Pharmaceutical

Tape

Others

 

By Geography

North America

USA

Canada

Mexico

 

South America

Brazil

Argentina

Others

 

Europe

Germany

France

United Kingdom

Others

 

Middle East and Africa

Saudi Arabia

Israel

Others

 

Asia Pacific

China

Japan

India

Others

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