Polyethylene Terephthalate (PET) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Polyethylene Terephthalate (PET) Market
The Polyethylene Terephthalate (PET) market size was valued at USD 48.43 billion in 2023, and the market is now projected to grow from USD 52.94 billion in 2024 to USD 109.63 billion by 2032, exhibiting a CAGR of 9.5% during the forecast period of 2024-2032.
The government limitations on people's movement due to the COVID-19 widespread compelled numerous customers to switch to online shopping. This made a enormous demand for bundling and wrapping films from the e-commerce division. The development within the online purchase of basic merchandise including goods, solutions, packed foods, and beverages increased the demand for bundling materials from the consumer merchandise and pharmaceutical segments amid this period. Furthermore, major development within the e-commerce and healthcare businesses fueled the appropriation of PET packaging products.
The developing demand for recycled PET from different businesses, such as packaging, food & beverages, and automotive is anticipated to supply critical development openings for the advertise. A few of the major key players in this advertise are centering on enhancing recyclable plastics in reaction to developing nursery gas emanations and contamination caused by plastic waste. Besides, this polymer is an effortlessly recyclable material as compared to other polymers, supporting the advertise growth.
PET is regularly molded and expelled into plastic bottles and holders to pack beverages and buyer, individual care, and food items. This polymer is cost-effective as well and offers high quality, amazing cover, and lightweight properties, making it a reasonable bundling item for conveyances and utilizing less fuel amid transportation. The utilization of PET holders and sheets for bundling different merchandise is extending within the e-commerce segment. This development is ascribed to the simple accessibility of online items, lower costs, alluring rebates, and shipping & return arrangements advertised by e-commerce stages to shoppers.
Comprehensive Analysis Of Polyethylene Terephthalate (PET) Market
Based on sort, the advertise is portioned into virgin and recycled. The virgin section accounted for a large market share in 2023. This resin is fabricated from a petrochemical feedstock, including rough oil and normal gas. Based on application, the advertise is sectioned into rigid packaging, film, sheets & straps, and others. The rigid packaging section is anticipated to hold the biggest share and develop at the speediest rate amid the figure period. Increasing buyer use on online shopping and surging demand for bundling foods to meet cleanliness benchmarks are driving the fragment development.
The advertise measure in Asia Pacific stood at USD 18.65 billion in 2023. Expanding progressions in plastic generation to form it more feasible have surged the market development within the region. China holds the driving market share within the region and is the fastest-growing nation. This development is ascribed to the rising investigate & advancement exercises, expanded plastics reusing, and developing bundling, electrical, and gadgets businesses.
The key players are additionally getting and collaborating with unmistakable industry fragments over the globe to develop their promote and discover progress geographical markets. The list of key companies profiled are LIST OF KEY COMPANIES PROFILED:
Reliance Industries (India), Lotte Chemical Corporation (South Korea), DAK Americas (U.S.), Indorama Ventures (Thailand), Dupont (U.S.), Far Eastern New Century (Taiwan), Nan Ya Plastics Corporation (Taiwan), Octal Petrochemicals (U.S.), SABIC (Saudi Arabia), Jiangsu Sanfangxiang Group Co., Ltd. (China).
In the month of August 2023, the company Indorama Ventures Public Company Limited reported an increment within the reusing capacity in Brazil. The company extended its reusing office in Brazil, bolstered by Blue Credit from the World Bank. The set-up recycling unit is anticipated to reach the reusing capacity of 50 billion bottles per year.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 9.5% from 2024 to 2032
Unit Value (USD Billion); Volume (Million Ton)
Segmentation By Type
Virgin
Recycled
By Application
Rigid Packaging
Film
Sheets and Straps
Others
By Geography
North America (By Type, By Application, By Country)
- U.S. (By Application)
- Canada (By Application)
Europe (By Type, By Application, By Country)
- Germany (By Application)
- Italy (By Application)
- France (By Application)
- Spain (By Application)
- U.K. (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Type, By Application, By Country)
- China (By Application)
- India (By Application)
- Japan (By Application)
- South Korea (By Application)
- Rest of Asia Pacific (By Application)
Latin America (By Type, By Application, By Country)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
Middle East & Africa (By Type, By Application, By Country)
- Saudi Arabia (By Application)
- South Africa (By Application)
- Rest of Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Regions
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 4.6. Impact of COVID-19 on Global Polyethylene Terephthalate (PET) Market
- 5. Global Polyethylene Terephthalate (PET) Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Type (Value, and Volume)
- 5.2.1. Virgin
- 5.2.2. Recycled
- 5.3. By Application (Value, and Volume)
- 5.3.1. Rigid Packaging
- 5.3.2. Film
- 5.3.3. Sheets and Straps
- 5.3.4. Others
- 5.4. By Region (Value, and Volume)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Polyethylene Terephthalate (PET) Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Type (Value, and Volume)
- 6.2.1. Virgin
- 6.2.2. Recycled
- 6.3. By Application (Value, and Volume)
- 6.3.1. Rigid Packaging
- 6.3.2. Film
- 6.3.3. Sheets and Straps
- 6.3.4. Others
- 6.4. By Country (Value, and Volume)
- 6.4.1. U.S
- 6.4.1.1. By Application (Value, and Volume)
- 6.4.1.1.1. Rigid Packaging
- 6.4.1.1.2. Film
- 6.4.1.1.3. Sheets and Straps
- 6.4.1.1.4. Others
- 6.4.2. Canada
- 6.4.2.1. By Application (Value, and Volume)
- 6.4.2.1.1. Rigid Packaging
- 6.4.2.1.2. Film
- 6.4.2.1.3. Sheets and Straps
- 6.4.2.1.4. Others
- 7. Europe Polyethylene Terephthalate (PET) Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Type (Value, and Volume)
- 7.2.1. Virgin
- 7.2.2. Recycled
- 7.3. By Application (Value, and Volume)
- 7.3.1. Rigid Packaging
- 7.3.2. Film
- 7.3.3. Sheets and Straps
- 7.3.4. Others
- 7.4. By Country (Value, and Volume)
- 7.4.1. Germany
- 7.4.1.1. By Application (Value, and Volume)
- 7.4.1.1.1. Rigid Packaging
- 7.4.1.1.2. Film
- 7.4.1.1.3. Sheets and Straps
- 7.4.1.1.4. Others
- 7.4.2. Italy
- 7.4.2.1. By Application (Value, and Volume)
- 7.4.2.1.1. Rigid Packaging
- 7.4.2.1.2. Film
- 7.4.2.1.3. Sheets and Straps
- 7.4.2.1.4. Others
- 7.4.3. France
- 7.4.3.1. By Application (Value, and Volume)
- 7.4.3.1.1. Rigid Packaging
- 7.4.3.1.2. Film
- 7.4.3.1.3. Sheets and Straps
- 7.4.3.1.4. Others
- 7.4.4. Spain
- 7.4.4.1. By Application (Value, and Volume)
- 7.4.4.1.1. Rigid Packaging
- 7.4.4.1.2. Film
- 7.4.4.1.3. Sheets and Straps
- 7.4.4.1.4. Others
- 7.4.5. U.K.
- 7.4.5.1. By Application (Value, and Volume)
- 7.4.5.1.1. Rigid Packaging
- 7.4.5.1.2. Film
- 7.4.5.1.3. Sheets and Straps
- 7.4.5.1.4. Others
- 7.4.6. Rest of Europe
- 7.4.6.1. By Application (Value, and Volume)
- 7.4.6.1.1. Rigid Packaging
- 7.4.6.1.2. Film
- 7.4.6.1.3. Sheets and Straps
- 7.4.6.1.4. Others
- 8. Asia-Pacific Polyethylene Terephthalate (PET) Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Type (Value, and Volume)
- 8.2.1. Virgin
- 8.2.2. Recycled
- 8.3. By Application (Value, and Volume)
- 8.3.1. Rigid Packaging
- 8.3.2. Film
- 8.3.3. Sheets and Straps
- 8.3.4. Others
- 8.4. By Country (Value, and Volume)
- 8.4.1. China
- 8.4.1.1. By Application (Value, and Volume)
- 8.4.1.1.1. Rigid Packaging
- 8.4.1.1.2. Film
- 8.4.1.1.3. Sheets and Straps
- 8.4.1.1.4. Others
- 8.4.2. India
- 8.4.2.1. By Application (Value, and Volume)
- 8.4.2.1.1. Rigid Packaging
- 8.4.2.1.2. Film
- 8.4.2.1.3. Sheets and Straps
- 8.4.2.1.4. Others
- 8.4.3. Japan
- 8.4.3.1. By Application (Value, and Volume)
- 8.4.3.1.1. Rigid Packaging
- 8.4.3.1.2. Film
- 8.4.3.1.3. Sheets and Straps
- 8.4.3.1.4. Others
- 8.4.4. South Korea
- 8.4.4.1. By Application (Value, and Volume)
- 8.4.4.1.1. Rigid Packaging
- 8.4.4.1.2. Film
- 8.4.4.1.3. Sheets and Straps
- 8.4.4.1.4. Others
- 8.4.5. Rest of Asia Pacific
- 8.4.5.1. By Application (Value, and Volume)
- 8.4.5.1.1. Rigid Packaging
- 8.4.5.1.2. Film
- 8.4.5.1.3. Sheets and Straps
- 8.4.5.1.4. Others
- 9. Latin America Polyethylene Terephthalate (PET) Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Type (Value, and Volume)
- 9.2.1. Virgin
- 9.2.2. Recycled
- 9.3. By Application (Value, and Volume)
- 9.3.1. Rigid Packaging
- 9.3.2. Film
- 9.3.3. Sheets and Straps
- 9.3.4. Others
- 9.4. By Country (Value, and Volume)
- 9.4.1. Brazil
- 9.4.1.1. By Application (Value, and Volume)
- 9.4.1.1.1. Rigid Packaging
- 9.4.1.1.2. Film
- 9.4.1.1.3. Sheets and Straps
- 9.4.1.1.4. Others
- 9.4.2. Mexico
- 9.4.2.1. By Application (Value, and Volume)
- 9.4.2.1.1. Rigid Packaging
- 9.4.2.1.2. Film
- 9.4.2.1.3. Sheets and Straps
- 9.4.2.1.4. Others
- 9.4.3. Rest of Latin America
- 9.4.3.1. By Application (Value, and Volume)
- 9.4.3.1.1. Rigid Packaging
- 9.4.3.1.2. Film
- 9.4.3.1.3. Sheets and Straps
- 9.4.3.1.4. Others
- 10. Middle East & Africa Polyethylene Terephthalate (PET) Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. By Type (Value, and Volume)
- 10.2.1. Virgin
- 10.2.2. Recycled
- 10.3. By Application (Value, and Volume)
- 10.3.1. Rigid Packaging
- 10.3.2. Film
- 10.3.3. Sheets and Straps
- 10.3.4. Others
- 10.4. By Country (Value, and Volume)
- 10.4.1. Saudi Arabia
- 10.4.1.1. By Application (Value, and Volume)
- 10.4.1.1.1. Rigid Packaging
- 10.4.1.1.2. Film
- 10.4.1.1.3. Sheets and Straps
- 10.4.1.1.4. Others
- 10.4.2. South Africa
- 10.4.2.1. By Application (Value, and Volume)
- 10.4.2.1.1. Rigid Packaging
- 10.4.2.1.2. Film
- 10.4.2.1.3. Sheets and Straps
- 10.4.2.1.4. Others
- 10.4.3. Rest of Middle East and Africa
- 10.4.3.1. By Application (Value, and Volume)
- 10.4.3.1.1. Rigid Packaging
- 10.4.3.1.2. Film
- 10.4.3.1.3. Sheets and Straps
- 10.4.3.1.4. Others
- 11. Company Profiles
- 11.1. Indorama Ventures
- 11.1.1. Overview
- 11.1.2. Description
- 11.1.3. Product Portfolio
- 11.1.4. Financials (Data as available in public domain and/or on paid databases)
- 11.1.5. Recent Developments
- 11.2. Far Eastern New Century
- 11.2.1. Overview
- 11.2.2. Description
- 11.2.3. Product Portfolio
- 11.2.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.5. Recent Developments
- 11.3. DAK Americas
- 11.3.1. Overview
- 11.3.2. Description
- 11.3.3. Product Portfolio
- 11.3.4. Financials (Data as available in public domain and/or on paid databases)
- 11.3.5. Recent Developments
- 11.4. NAN Ya Plastic Corporation
- 11.4.1. Overview
- 11.4.2. Description
- 11.4.3. Product Portfolio
- 11.4.4. Financials (Data as available in public domain and/or on paid databases)
- 11.4.5. Recent Developments
- 11.5. SABIC
- 11.5.1. Overview
- 11.5.2. Description
- 11.5.3. Product Portfolio
- 11.5.4. Financials (Data as available in public domain and/or on paid databases)
- 11.5.5. Recent Developments
- 11.6. DuPont
- 11.6.1. Overview
- 11.6.2. Description
- 11.6.3. Product Portfolio
- 11.6.4. Financials (Data as available in public domain and/or on paid databases)
- 11.6.5. Recent Developments
- 11.7. Lotte Chemical Corporation
- 11.7.1. Overview
- 11.7.2. Description
- 11.7.3. Product Portfolio
- 11.7.4. Financials (Data as available in public domain and/or on paid databases)
- 11.7.5. Recent Developments
- 11.8. Reliance Industries
- 11.8.1. Overview
- 11.8.2. Description
- 11.8.3. Product Portfolio
- 11.8.4. Financials (Data as available in public domain and/or on paid databases)
- 11.8.5. Recent Developments
- 11.9. Octal Petrochemicals
- 11.9.1. Overview
- 11.9.2. Description
- 11.9.3. Product Portfolio
- 11.9.4. Financials (Data as available in public domain and/or on paid databases)
- 11.9.5. Recent Developments
- 11.10. Jiangsu Sanfangxiang Group Co., Ltd.
- 11.10.1. Overview
- 11.10.2. Description
- 11.10.3. Product Portfolio
- 11.10.4. Financials (Data as available in public domain and/or on paid databases)
- 11.10.5. Recent Developments
- 11.11. Others players
- 12. Strategic Recommendations
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