Polyethylene Terephthalate (PET) Market Growth, Trends, Size, Revenue, Share and Future Outlook
Polyethylene Terephthalate (PET) Market Size- By Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Apr-2024 | Report ID: CHEM2434 | Pages: 1 - 225 | Formats*: |
| Category : Chemical & Materials | |||
Polyethylene Terephthalate (PET) Market Introduction and Overview
According to SPER Market Research, the Global Polyethylene Terephthalate (PET) Market is estimated to reach USD 57.83 billion by 2033 with a CAGR of 6.31%.
The report includes an in-depth analysis of the Global Polyethylene Terephthalate (PET), including market size and trends, product mix, applications, and supplier analysis. PET, or polyethylene terephthalate, is a thermoplastic polymer resin that is created when pure terephthalic acid (PTA) and monoethylene glycol (MEG) combine. It is utilized as an effective packing material for containers, fibers in clothes, and water bottles. Many end-use industries employ polyethylene terephthalate because of its tensile strength, recyclability, and adaptability. The main end-use sectors include electronics, food and beverage, and autos. Polyethylene Terephthalate is utilized in the packaging sector because it is inert. Because of its glass-like transparency, capacity to maintain the fizz in soft drinks, freshness, and excellent toughness to weight ratio—all of which make it easy to create, lightweight, and break-resistant—it is favored over the use of glass.
- June 2024; In an announcement, Far Eastern New Company stated that it intended to recycle over 20 million bottles annually and to grow its recycled PET business. The business increased its recycling capacity in line with its business plans.
- August 2024; An expansion of Brazil's recycling capacity was announced by Indorama Ventures Public Company Limited. The company used a World Bank Blue Loan to expand its recycling operation in Brazil. It is anticipated that the current recycling facility will be able to recycle 50 billion bottles annually.
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Market Opportunities and Challenges
A number of factors, including growing urbanization, rapid population growth, rising disposable income, the takeout and on-the-go culture, and the growing demand for fast-moving consumer goods, have contributed to the global food and beverage industry's explosive growth, with China and India in particular. The food packaging material known as polyethylene terephthalate (PET) resin is in high demand due to the expanding food and beverage sector. Furthermore, because PET goods have benefits over traditional packaging polymers, their use is growing at an impressive rate.
The widespread availability of replacement polymers such as polypropylene, polyethylene, and polystyrene restricts product utilization. Similar qualities to the originals include flexibility, low heat conductivity, high stress tolerance, lightweight design, and affordability. Furthermore, as the production of plastic produces a lot of pollution and negatively impacts the environment, strict government limits have been placed on the usage of plastics. According to the ClinMed International Library, using plastic products over an extended period of time and being exposed to high temperatures can cause dangerous chemical components to infiltrate into food, water, and beverages. There is a risk to the public's health when plastics are carelessly dumped on land and burned outdoors because they can release dangerous substances into the atmosphere. It is expected that these factors will prevent the industry from growing.
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Market Competitive Landscape
The competitive landscape for bio-based polyethylene terephthalate (PET) is broken down per competitor. The company's strengths and weaknesses, product launch, product width and breadth, application dominance, global presence, financials, revenue, market potential, R&D investment, new market initiatives, and production sites and facilities are all included in the details. Only the companies' focus on the bio-based polyethylene terephthalate (PET) industry is indicated by the data points above. The major players in the Global Polyethylene Terephthalate (PET) Marketinclude: BASF SE, LyondellBasell Industries Holdings B.V., RTP Company, Indorama Ventures Public Company Limited, SABIC, LOTTE Chemical CORPORATION, LANXESS, DuPont, NAN YA PLASTICS CORPORATION, DSM and others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Application |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | BASF SE, LyondellBasell Industries Holdings B.V., RTP Company, Indorama Ventures Public Company Limited, SABIC, LOTTE Chemical CORPORATION, LANXESS, DuPont, NAN YA PLASTICS CORPORATION, DSM and others. |
COVID-19 Impact on Global Polyethylene Terephthalate (PET) Market
The market for bio-based polyethylene terephthalate (PET) was negatively impacted by the current corona virus disease outbreak. The market suffered significant financial losses as a result of the major interruptions in various manufacturing and supply-chain processes caused by the multiple precautionary lockdowns enforced by governments to stop the spread of disease. Additionally, as the outbreak has negatively impacted the majority of people's overall financial situation, there has been a decrease in consumer demand as people are now more concerned with reducing non-essential spending from their budgets. The market's revenue trajectory will be measured during the forecast period by the aforementioned determinants. Positively, it is anticipated that the market would rebound when specific regulatory agencies start to ease these imposed lockdowns. The market is expected to grow as a result of the operations that have been cancelled and suspended continuing.
Key Target Audience
- PET Resin Manufacturers
- PET Processors and Converters
- Brand Owners and Manufacturers
- Recycling Companies
- Government Agencies and Regulatory Bodies
Our in-depth analysis of the Polyethylene Terephthalate (PET) Market includes the following segments:
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- Key Topics Covered in the Report
- Global Polyethylene Terephthalate (PET) Market Size (FY’2024-FY’2033)
- Overview of Global Polyethylene Terephthalate (PET) Market
- Segmentation of Global Polyethylene Terephthalate (PET) Market By Type (Virgin and Recycled)
- Segmentation of Global Polyethylene Terephthalate (PET) Market By Application (Rigid Packaging, Film, Sheets & Straps, and Others)
- Statistical Snap of Global Polyethylene Terephthalate (PET) Market
- Expansion Analysis of Global Polyethylene Terephthalate (PET) Market
- Problems and Obstacles in Global Polyethylene Terephthalate (PET) Market
- Competitive Landscape in the Global Polyethylene Terephthalate (PET) Market
- Impact of COVID-19 and Demonetization on Global Polyethylene Terephthalate (PET) Market
- Details on Current Investment in Global Polyethylene Terephthalate (PET) Market
- Competitive Analysis of Global Polyethylene Terephthalate (PET) Market
- Prominent Players in the Global Polyethylene Terephthalate (PET) Market
- SWOT Analysis of Global Polyethylene Terephthalate (PET) Market
- Global Polyethylene Terephthalate (PET) Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Polyethylene Terephthalate (PET) Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Polyethylene Terephthalate (PET) Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Polyethylene Terephthalate (PET) Market
7. Global Polyethylene Terephthalate (PET) Market, By Type (USD Million)
7.1. Global Polyethylene Terephthalate (PET) Market Value Share and Forecast, By Type, 2024-20337.2. Virgin7.3. Recycled
8. Global Polyethylene Terephthalate (PET) Market, By Application (USD Million)
8.1. Global Polyethylene Terephthalate (PET) Market Value Share and Forecast, By Application, 2024-20338.2. Rigid Packaging8.3. Film8.4. Sheets8.5. Straps
9. Global Polyethylene Terephthalate (PET) Market Forecast, 2020-2033 (USD Million)
9.1. Global Polyethylene Terephthalate (PET) Market Size and Market Share
10. Global Polyethylene Terephthalate (PET) Market, By Type 2020-2033 (USD Million)
10.1. Global Polyethylene Terephthalate (PET) Market Size and Market Share By Type (2020-2026)10.2. Global Polyethylene Terephthalate (PET) Market Size and Market Share By Type (2027-2033)
11. Global Polyethylene Terephthalate (PET) Market, By Application, 2020-2033 (USD Million)
11.1. Global Polyethylene Terephthalate (PET) Market Size and Market Share By Application (2020-2026)11.2. Global Polyethylene Terephthalate (PET) Market Size and Market Share By Application (2027-2033)
12. Global Polyethylene Terephthalate (PET) Market, By Region, 2020-2033 (USD Million)
12.1. Global Polyethylene Terephthalate (PET) Market Size and Market Share By Region (2020-2026)12.2. Global Polyethylene Terephthalate (PET) Market Size and Market Share By Region (2027-2033)12.3. Asia-Pacific
12.3.1. Australia12.3.2. China12.3.3. India12.3.4. Japan12.3.5. South Korea12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France12.4.2. Germany12.4.3. Italy12.4.4. Spain12.4.5. United Kingdom12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia12.5.2. United Arab Emirates12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada12.6.2. Mexico12.6.3. United States
12.7. Latin America
12.7.1. Argentina12.7.2. Brazil12.7.3. Rest of Latin America
13. Company Profile
13.1. BASF SE
13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments
13.2. LyondellBasell Industries Holdings B.V.
13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments
13.3. RTP Company
13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments
13.4. Indorama Ventures Public Company Limited.
13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments
13.5. SABIC
13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments
13.6. LOTTE Chemical CORPORATION
13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments
13.7. LANXESS
13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments
13.8. DuPont
13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments
13.9. NAN YA PLASTICS CORPORATION13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments
13.10. DSM
13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments
13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Polyethylene Terephthalate (PET) Market is projected to reach USD 57.83 Billion by 2033, growing at a CAGR of 6.31% during the forecast period.
Polyethylene Terephthalate (PET) Market grew in Market size from 2022. The Market is expected to reach USD 57.83 Billion by 2033, at a CAGR of 6.31% during the forecast period.
Polyethylene Terephthalate (PET) Market CAGR of 6.31% during the forecast period.
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Polyethylene Terephthalate (PET) Market size is USD 57.83 Billion from 2024 to 2033.
Polyethylene Terephthalate (PET) Market Segment is covered By Type, By Application.
The North America is anticipated to have the highest Market share in the Polyethylene Terephthalate (PET) Market.
The key players in the Market include Companies Covered BASF SE, LyondellBasell Industries Holdings B.V., RTP Company, Indorama Ventures Public Company Limited, SABIC, LOTTE Chemical CORPORATION, LANXESS, DuPont, NAN YA PLASTICS CORPORATION, DSM and others.
PET, or polyethylene terephthalate, is a thermoplastic polymer resin that is created when pure terephthalic acid (PTA) and monoethylene glycol (MEG) combine.
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