Skip to main content

Polyethylene Terephthalate Market: Production Volume to Cross 34,077 Kilo Tons Mark by 2024, reports TMR

With the presence of a large pool of players, the global polyethylene terephthalate (PET) market exhibits a highly fragmented landscape, finds a research report by Transparency Market Research (TMR). The top five players, namely, Indorama Ventures, M & G Chemicals, Jiangsu Sanfanxiang, Octal, and DAK Americas, together could hold only 39% of the overall market in 2015.
Over the forthcoming years, the competition within the market is likely to intensify due to the low switching costs and the presence of PET resin suppliers in a large number, reports the market study.
According to the research report, the global polyethylene terephthalate (PET) market offered an opportunity worth US$23.73 bn in 2015. Analysts expect this market to expand at a 5.80% CAGR during the period from 2016 to 2024 and touch a value of US$39.16 bn by the end of the forecast period. In terms of volume, the market is likely to cross 34,077 kilo tons mark by 2024.

The beverage packaging segment reports a higher demand for polyethylene terephthalate and is anticipated to remain doing so throughout the forecast period, thanks to its widespread application in the production of juice bottles, soft drink bottles, water bottles, and bottles for liquid dairy products.
Asia Pacific to Register Continued Dominance
In terms of region, the worldwide market for polyethylene terephthalate is spread across Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. The report also provides a comprehensive assessment of the regional presence of this market across the world. As per the study, Asia Pacific led the global market in 2015 with a share of more than 35%, owing to increased demand for packaged food products and beverages from the middle class consumers in emerging Asian economies. Researchers expect this region to maintain its dominance over the period of forecast, which China emerging as the leading domestic polyethylene terephthalate market, closely followed by Japan, India, and ASEAN countries
Other regional markets, especially, the Middle East and Africa and Latin America, are also anticipated to witness steady growth in the near future. The rising demand for packaged food and beverages, infrastructural advancements in the retail sector, significant upswing in the number of tourists in the Middle East, and the development of the formal retail in Africa are likely to drive the Middle East and Africa Market over the forthcoming years. The Latin America market, on the other hand, is expected to be driven by the surge in the demand for soft drinks and packaged drinking water. However, over the same time period, the markets in North America and Europe are projected to witness moderate progress due to maturation.
Enter your information below to receive a sample copy of this report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=415
Replacement of Glass Packaging with PET Packaging to Reflect Positively on Market’s Growth
“The global polyethylene terephthalate market is highly dynamic. The recent trend of replacing traditional glass packaging with polyethylene terephthalate packaging is showing a considerable impact on this market,” says a research analyst at TMR. The high recyclability of PET is also driving this market significantly. As PET packaging is 100% recyclable, they are reused by manufacturers of products, which do not require virgin PET, such as carpets and raincoats. This, as a result, leads to a higher profit margin for market players.
Currently, PET products are witnessing a high demand in developing economies, pointing towards a thriving future of this market. However, the high price volatility of crude oil and the enforcement of stringent government rules regulating the usage of polyethylene terephthalate are likely to refrain the market from growing steadily in the coming years. Going forward, the increasing demand for packaged food is expected to offer lucrative growth opportunities for market players over the forecast period, notes the study.
The report segments the global polyethylene terephthalate market as:
By Application
  • Beverages
    • Bottled water
    • Carbonated drinks
    • Others (Juices, LDP)
  • Films
  • Food Packaging
  • Others (Cosmetic Bottles, Household Products)

The study presented here is based on a report by Transparency Market Research (TMR), titled “Polyethylene Terephthalate Market (Beverages (Bottled Water, Carbonated Drinks, Juices, and LDP), Films, Food Packaging, Cosmetic Bottles, and Household Products) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
Labels:
Location: Albany, NY 12207, USA

Comments

Post a Comment

Popular posts from this blog

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a
Post a Comment
Read more

Industrial Lubricants Market: Strong Demand Across Automotive Industry, Trends To 2025

Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @  http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry Had
Post a Comment
Read more

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @   http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi
Post a Comment
Read more