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GLOBAL POLYETHYLENE TEREPHTHALATE (PET) MARKET FORECAST 2019-2027

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GLOBAL POLYETHYLENE TEREPHTHALATE (PET) MARKET FORECAST 2019-2027

The global Polyethylene Terephthalate (PET) market in terms of value was at $XX million in 2018 and is likely to rise to $493.95 million by 2027, growing at a CAGR of 7.08 % throughout the forecast period. The base year considered for the study is 2018, and the estimated period lies between 2019 and 2027. Also, the market, in terms of volume, is expected to grow at a CAGR of 5.26% during 2019-2027. The significant factor for the growth of the market is the surging demand for ready-to-eat foods on a global scale. The population rise accompanied by high disposable income is benefitting the packaging industry. The continuing research and development of innovative packaging methods by the manufacturers are further aiding the market growth of PET. Additionally, the growing use of retort pouches, which is used in the packaging of ready-to-eat foods coupled with a rise in metal-based PET, is driving the demand for PET.

GLOBAL POLYETHYLENE TEREPHTHALATE (PET) MARKET FORECAST 2019-2027

Global Polyethylene Terephthalate (Pet) Market by Type (Cups, Cans, Bottles, Pouches, Others) by Materials (Glass, Plastic, Metal, Paperboard, Others) by Application (Food and Beverage, Automotive, Electrical and Electronics, Healthcare, Consumer Goods, Other Applications) by Geography.

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The global Polyethylene Terephthalate (PET) market in terms of value was at $XX million in 2018 and is likely to rise to $493.95 million by 2027, growing at a CAGR of 7.08 % throughout the forecast period. The base year considered for the study is 2018, and the estimated period lies between 2019 and 2027. Also, the market, in terms of volume, is expected to grow at a CAGR of 5.26% during 2019-2027.

The major drivers responsible for the global PET market growth are:

  • Rising consumption of ready-to-eat foods
  • Technological advancements in PET market
  • The growing interest in eco-friendly packaging
  • Increased demand for bottled water

 

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The significant factor for the growth of the market is the surging demand for ready-to-eat foods on a global scale. The population rise accompanied by high disposable income is benefitting the packaging industry. The continuing research and development of innovative packaging methods by the manufacturers are further aiding the market growth of PET. Additionally, the growing use of retort pouches, which is used in the packaging of ready-to-eat foods coupled with a rise in metal-based PET, is driving the demand for PET.

Food and Beverages are the fastest as well as the largest growing segment in the PET market, with around 74% market share in 2018. The primary use of PET in food and beverage is for packaging purposes. In recent years, the high demand for food delivery and takeaway, coupled with the usage of thermoformed PET, is stimulating the demand of the PET market in the coming years. Furthermore, similar to glass, PET is durable and hygienic. It resists the attack from micro-organisms. Also, it does not react with products like foods or beverages and does not degrade biologically. Health authorities have recognized its safety for use in the food and beverage industry worldwide. But unlike glass, PET is extremely lightweight, easy to transport, and won’t break, and thus, it is preferred for packaging by the food and beverage industry. Also, the rise in the production of commodities in regions like Asia is escalating the demand for PET resin.

However, the strict regulations levied by the authorities is a major challenge for the PET market. In some countries, the regulations are tolerant, while in other countries such as the US, they are quite stringent. In the US, the FDA addresses concerns related to the safety of food packaging. Companies have to justify their use of certain packaging material for a particular food product. The growing regulations set up a high barrier for the entry of new players in the market, thereby affecting the market adversely.

The report scope of the global PET market covers segmentation analysis of application, type, materials, and geography.

Market by Type:

  • Cups
  • Bottles
  • Pouches
  • Cans
  • Others

Market by Materials:

  • Glass
  • Paperboard
  • Metal
  • Plastic
  • Others

Market by Application:

  • Glass
  • Paperboard
  • Plastic
  • Metal
  • Others

Geographically, the global PET market has been segmented based on four major regions, which includes:

  • North America: the United States & Canada
  • Europe: Spain, United Kingdom, Germany, Italy, France, & Rest of Europe
  • Asia Pacific: South Korea, China, Australia, India, Japan, & Rest of Asia Pacific
  • Rest of World: Latin America, Middle East & Africa

Geographically, Asia Pacific is the largest market with a market share of 53.13% in terms of revenue in 2018. The PET market is overlooking a steady growth in the region owing to the lineage of the production of plastic-based products in China, which is driving the growth of the PET market in the upcoming years. Many players in the region are major manufacturers of PTA and polyester chips, which acts as a base for the production of PET-based products. Furthermore, the availability of cheap labor and manufacturing at more affordable rates is further increasing the demand for PET in the region. Many key players are producing advanced products to reduce plastic waste and curb energy costs, which is supplementing the growth of the market in the Asia-Pacific region. Additionally, a majority of the retailers in the country have witnessed packaging waste, owing to which, the organizations are aiming to adapt to environment-friendly packaging, to curb these wastes.

Global PET market has been segmented on the basis of type, materials, and application. The type segment is segmented into cups, cans, bottles, pouches, and others. The material segment is sub-segmented into glass, plastic, metal, paperboard, and others. The application segment is segmented into food and beverage, automotive, electrical and electronics, healthcare, consumer goods, and other end-user industries.

The market has numerous players, and some of the prominent players included in the global PET market are:

  • BASF SE
  • Hengli Group Ltd.
  • Indorama Ventures Public Company Ltd.
  • JBF Industries Ltd.
  • Jiangsu Sanfangxiang Group
  • others

Company profiles of several renowned market players have been examined in detail in the report. These companies are seeking several organic & inorganic growth strategies to gain a competitive advantage over each other in this market. For instance, in March 2018, Reliance Industries Ltd., partnered with Applied DNA, GHCL, and Reliance Industries together, launched CertainT recycled PET products.

Key findings of the global PET market are:

  • Surging demand for ready-to-eat foods is influencing the growth of the PET market during the forecast period
  • Asia Pacific dominates the global PET market by capturing the significant market share of around 53.13% in 2018
  • The increasing demand for eco-friendly products is augmenting the growth of the PET market
  • Growing demand for Bio-based PET is fuelling the growth of the market in the forecast period

  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ASIA PACIFIC DOMINATES THE OVERALL PET MARKET
      • INCREASED DEMAND FOR BOTTLED WATER
      • GROWING USAGE OF BIODEGRADABLE PLASTICS
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • RISING CONSUMPTION OF READY-TO-EAT FOODS
      • TECHNOLOGICAL ADVANCEMENTS IN PET MARKET
      • GROWING INTEREST FOR ECO-FRIENDLY PACKAGING
    • MARKET RESTRAINTS
      • STRICT RULES LEVIED BY REGULATORY FIRMS
      • INCREASING USAGE OF SUBSTITUTE PRODUCTS
    • MARKET OPPORTUNITIES
      • ONSET OF BIO-BASED PET
    • MARKET CHALLENGES
      • SHIFT OF PRODUCTION CAPABILITIES TO ASIA
  1. MARKET BY TYPE
    • CUPS
    • CANS
    • BOTTLES
    • POUCHES
    • OTHERS
  2. MARKET BY MATERIALS
    • GLASS
    • PLASTIC
    • METAL
    • PAPERBOARD
    • OTHERS
  3. MARKET BY APPLICATION
    • FOOD AND BEVERAGE
    • AUTOMOTIVE
    • ELECTRICAL AND ELECTRONICS
    • HEALTHCARE
    • CONSUMER GOODS
    • OTHER APPLICATIONS
  4. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • ALPEK SAP DE CV
    • BASF SE
    • CHINA RESOURCES CHEMICAL MATERIALS TECHNOLOGY LTD.
    • FAR EASTERN NEW CENTURY CORPORATION
    • HENGLI GROUP LTD.
    • INDORAMA VENTURES PUBLIC COMPANY, LTD.
    • JBF INDUSTRIES LTD.
    • JIANGSU SANFANGXIANG GROUP
    • LOTTE CHEMICAL CORPORATION
    • M&G CHEMICALS
    • OCTAL
    • RELIANCE INDUSTRIES LTD.
    • ROYAL DSM
    • SAUDI BASICS INDUSTRIES CORP
    • SINOPEC GROUP

TABLE LIST

TABLE 1. GLOBAL PET MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2. GLOBAL PET MARKET, BY TYPE, 2019-2027, (IN $ MILLION)

TABLE 3. GLOBAL PET MARKET, BY TYPE, 2019-2027, (IN KILOTONS)

TABLE 4. GLOBAL CUPS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5. GLOBAL CANS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6. GLOBAL BOTTLES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7. GLOBAL POUCHES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8. GLOBAL OTHERS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9. GLOBAL PET MARKET, BY MATERIALS, 2019-2027, (IN $ MILLION)

TABLE 10. GLOBAL PET MARKET, BY MATERIALS, 2019-2027, (IN KILOTONS)

TABLE 11. GLOBAL GLASS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12. GLOBAL PLASTIC MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13. GLOBAL METAL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14. GLOBAL PAPERBOARD MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 15. GLOBAL OTHERS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16. GLOBAL PET MARKET, BY APPLICATION, 2019-2027, (IN $ MILLION)

TABLE 17. GLOBAL PET MARKET, BY APPLICATION, 2019-2027, (IN KILOTONS)

TABLE 18. GLOBAL FOOD AND BEVERAGE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 19. GLOBAL AUTOMOTIVE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 20. GLOBAL ELECTRICAL AND ELECTRONICS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 21. GLOBAL HEALTHCARE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 22. GLOBAL CONSUMER GOODS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 23. GLOBAL OTHER APPLICATIONS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 24. OPPORTUNITY MATRIX

TABLE 25. VENDOR LANDSCAPE

TABLE 26. GLOBAL PET MARKET, BY GEOGRAPHY, 2019-2027, (IN $ MILLION)

TABLE 27. GLOBAL PET MARKET, BY GEOGRAPHY, 2019-2027, (IN KILOTONS)

TABLE 28. NORTH AMERICA PET MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 29. NORTH AMERICA PET MARKET, BY COUNTRY, 2019-2027 (IN KILOTONS)

TABLE 30. EUROPE PET MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 31. EUROPE PET MARKET, BY COUNTRY, 2019-2027 (IN KILOTONS)

TABLE 32. ASIA PACIFIC PET MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 33. ASIA PACIFIC PET MARKET, BY COUNTRY, 2019-2027 (IN KILOTONS)

TABLE 34. REST OF WORLD PET MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 35. REST OF WORLD PET MARKET, BY REGION, 2019-2027 (IN KILOTONS)

FIGURE LIST

FIGURE 1. GLOBAL PET MARKET, BY APPLICATION, 2018 & 2027 (IN %)

FIGURE 2. GLOBAL PET MARKET, BY CUPS, 2019-2027 (IN $ MILLION)

FIGURE 3. GLOBAL PET MARKET, BY CANS, 2019-2027 (IN $ MILLION)

FIGURE 4. GLOBAL PET MARKET, BY BOTTLES, 2019-2027 (IN $ MILLION)

FIGURE 5. GLOBAL PET MARKET, BY POUCHES, 2019-2027 (IN $ MILLION)

FIGURE 6. GLOBAL PET MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 7. GLOBAL PET MARKET, BY GLASS, 2019-2027 (IN $ MILLION)

FIGURE 8. GLOBAL PET MARKET, BY PLASTIC  2019-2027 (IN $ MILLION)

FIGURE 9. GLOBAL PET MARKET, BY METAL, 2019-2027 (IN $ MILLION)

FIGURE 10. GLOBAL PET MARKET, BY PAPERBOARD, 2019-2027 (IN $ MILLION)

FIGURE 11. GLOBAL PET MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 12. GLOBAL PET MARKET, BY FOOD AND BEVERAGE, 2019-2027 (IN $ MILLION)

FIGURE 13. GLOBAL PET MARKET, BY AUTOMOTIVE, 2019-2027 (IN $ MILLION)

FIGURE 14. GLOBAL PET MARKET, BY ELECTRICAL AND ELECTRONICS, 2019-2027 (IN $ MILLION)

FIGURE 15. GLOBAL PET MARKET, BY HEALTHCARE, 2019-2027 (IN $ MILLION)

FIGURE 16. GLOBAL PET MARKET, BY CONSUMER GOODS, 2019-2027 (IN $ MILLION)

FIGURE 17. GLOBAL PET MARKET, BY OTHER APPLICATIONS, 2019-2027 (IN $ MILLION) MARKET

FIGURE 18. PORTER’S FIVE FORCE ANALYSIS

FIGURE 19. GLOBAL PET MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 20. UNITED STATES PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 21. CANADA PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 22. UNITED KINGDOM PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23. GERMANY PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24. FRANCE PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25. SPAIN PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26. ITALY PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27. RUSSIA PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28. REST OF EUROPE PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29. CHINA PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30. JAPAN PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31. INDIA PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32. SOUTH KOREA PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33. AUSTRALIA PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34. REST OF ASIA PACIFIC PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35. LATIN AMERICA PET MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36. MIDDLE EAST & AFRICA PET MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY TYPE
    • CUPS
    • CANS
    • BOTTLES
    • POUCHES
    • OTHERS
  2. MARKET BY MATERIALS
    • GLASS
    • PLASTIC
    • METAL
    • PAPERBOARD
    • OTHERS
  3. MARKET BY APPLICATION
    • FOOD AND BEVERAGE
    • AUTOMOTIVE
    • ELECTRICAL AND ELECTRONICS
    • HEALTHCARE
    • CONSUMER GOODS
    • OTHER APPLICATIONS
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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