Top Emerging Trends Of Polyethylene Terephthalate Market Progress Forecast 2025 |Grand View Research, Inc.



The global polyethylene terephthalate market size is anticipated to reach USD 47.46 billion by 2025 and register a CAGR of 5.6% over the forecast period, according to a new report by Grand View Research, Inc. Polyethylene terephthalate is produced by the polymerization of ethylene glycol and terephthalic acid. Features such as increased strength and flexibility, lightweight, and non-toxic nature have made the material a preferred choice for packaging. PET finds wide uses in applications such as beverage packaging, consumer goods, and food packaging as it can efficiently be reused after recycling.
The globally increasing demand for efficient and eco-friendly packaging solutions coupled with the rising consumption of packaged & processed food has resulted in an increased demand for PET in food packaging applications. Moreover, the shifting trend of consumers toward the use of recyclable containers for food packaging is further boosting the demand for PET. Various other properties offered by the material also make it ideal for use in films and sheets, which are highly demanded by the medical packaging industry.
Various advancements are being made in PET to efficiently meet the needs of consumers and brand owners, which include enhanced food safety, improved sustainability, and reduced cost. Manufacturers of PET are focusing on product innovations and expansion of their production capacity to cater to the growing demand for sustainable and bio-based PET. This is one of the key drivers expected to propel the PET market growth over the forecast period.
Prominent companies operating in the market for Polyethylene Terephthalate (PET) include BASF SE, M&G Chemicals, SABIC, Arkema, Evonik Industries, and The Sherwin-Williams Company.Majority of the key players have integrated their resin production and distribution operations with an aim to improve resin quality and expand their regional presence. This has resulted in cost reduction, thus positively impacting the profit margin for companies. Moreover, in an attempt to gain a competitive edge in the market, companies are focused on investing in R&D activities to develop new application scopes and to efficiently cater to the dynamically evolving end-user requirements.
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https://www.grandviewresearch.com/industry-analysis/polyethylene-terephthalate-market/request/rs4
Further key findings from the study suggest:
·         The polyethylene terephthalate market was valued at USD 25,246.8 million in 2018 and is expected to register a CAGR of 5.6% from 2019 to 2025
·         The rising demand for environment-friendly and energy-saving products and solutions for packaging is expected to drive the market growth
·         The packaging segment accounted for the largest revenue share in 2018 on account of its increasing use in food and non-food packaging applications
·         The films & sheets segment accounted for a market share of 12.89% in 2018 and is projected to register a CAGR of 5.6% over the forecast period
·         The focus of various governments on improving indoor air quality and establishing stringent environmental regulations is anticipated to drive the demand for PET-based packaging
·         Key players active in the polyethylene terephthalate market include BASF SE, M&G Chemicals, SABIC, Arkema, Evonik Industries, and The Sherwin-Williams Company.
Based on application, the market for Polyethylene Terephthalate (PET) has been segmented into packaging, films & sheets, and others. The packaging application emerged as the largest segment in 2018, accounting for a market share of over 32.0%. The growing packaging industry, which is driven by high consumerism in emerging economies, is expected to boost the demand for plastics such as polyethylene and PET over the forecast period. Regulatory bodies have laid down various guidelines regarding the safe use of packaging materials in food contact applications, which is influencing the demand for PET in this segment.
Meanwhile, the increasing consumption of food containers in emerging economies such as China and India is expected to significantly drive the demand for PET in films & sheets applications. These containers offer thermal insulation to the products stored in them along with an aesthetic appeal. Moreover, microwave-safe containers are paving the way for the growth of the films & sheets segment. Customers across the globe prefer using microwave-compatible food containers to save preparation time.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-polyethylene-terephthalate-market
Grand View Research has segmented the Polyethylene Terephthalate market on the basis of application, packaging application:
Polyethylene Terephthalate Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·         Packaging
·         Films & Sheets
·         Others
Polyethylene Terephthalate Packaging Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·         Bottled Water
·         Carbonated Soft Beverages
·         Juices
·         Alcoholic Beverages
·         Thermoforming Trays
·         Food Packaging
·         Non-Food Packaging
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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