India PET & PBT Resins Market, By PET Resins Application (Bottles, Films, Food Packaging, and Others), By PBT Resins Application (Automotive, Consumer Appliance, Electronical & Electrical and Others), By Region, Competition, Forecast & Opportunities, 2018

India PET & PBT Resins Market, By PET Resins Application (Bottles, Films, Food Packaging, and Others), By PBT Resins Application (Automotive, Consumer Appliance, Electronical & Electrical and Others), By Region, Competition, Forecast & Opportunities, 2018-2028F

India PET & PBT Resins Market is expected to witness impressive growth because of the government's various initiatives, such as Make in India, to promote domestic production during the forecast period. Electronics production across India was estimated to be valued at over USD 65 Billion in financial year 2021.

The demand for PET and PBT resins has grown significantly over the past five years because of rising utilization in various end-user industries, including packaging and bottling, automotive, electrical, and electronics. The replacement of conventional packaging materials like glass, aluminum, paper, and metal, as well as the expansion of the FMCG industry, is driving up demand for PET resin, while factors like thermal stability, high heat resistance, and superior electrical properties are driving up demand for PBT resin. Purified terephthalic acid (PTA) and monoethylene glycol (MEG) are used to make the plastic polymer Polyethylene Terephthalate (PET), whereas 1, 4-butanediol, and PTA are used to make Polybutylene Terephthalate (PBT).

Increasing Demand for PET-Based Bottles

PET, also known as polyethylene terephthalate, is now a vital component of India's packaging industry. A significant increase in demand for PET resins in food and beverage packaging grades has been triggered over recent years. The increased purchase of disposable objects, especially those created from PET-based resins, has been impelled by the critical concerns for Personal Hygiene. The Indian pharmaceutical and healthcare industries, which recently experienced rapid growth, can be accounted for as another influential factor driving the market growth. The Indian pharmaceutical market, which is ranked third in terms of volume and thirteenth in terms of value, is vital to the expansion of the PET bottles market, resulting in the rise of the India PET Resins Market during the forecast period.

Rising Demand for Electrical & Electronics Applications in Automotive Industry

Engineering plastics like Polybutylene Terephthalate were subject to import restrictions due to government-led initiatives like "Make in India." The plan calls for inviting foreign firms to do business in India and encouraging them to start new industrial facilities there. The market is anticipated to develop as more Polybutylene Terephthalate is used to make interior and exterior body parts for electric vehicles. As people become more aware of environmental damage, they choose electric cars over fuel-based (diesel, petrol, and CNG) vehicles more significant numbers. The market for polybutylene terephthalate is anticipated to grow steadily because of automotive advances such as electrification, automated driving, and efforts to reduce emissions. Additionally, the production of various electronic sensors for electric vehicles is significantly influenced by hydrolytically resistant PBT.

Recent Trends & Developments

The market for polybutylene terephthalate (PBT) and polyethylene terephthalate (PET) resins has undergone a few developments like LNP Elcrin WF006XXPiQ and LNP Elcrin WF0061XPiQ, two new polybutylene terephthalate (PBT) compounds, were introduced by SABIC in January 2021.

Market Segmentation

The India PET & PBT Resins Market is segmented based on PET Resins Application, PBT Resins Application, Company, and regional distribution. Based on PET Resins Application, the market can be segmented into Bottles, Films, Food Packaging, and Others. Based on PBT Resins Application, the market can be divided into Automotive, Consumer Appliance, Electronical & Electrical and Others. Regionally, the market can be split into North, South, East, and West.

Market Players

Reliance Industries Limited, JBF Industries Limited, BASF India Limited, SRF Limited, IVL Dhunseri Petrochem Industries Private Limited, Sen Pet (India) Limited, DuPont India Private Limited, Ester Industries Ltd., Mitsubishi Chemical India (MCI), SABIC are some of the key market players.

Report Scope:

In this report, India PET & PBT Resins Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• India PET & PBT Resins Market, By PET Resins Application:
• Bottles
• Films
• Food Packaging
• Others
• India PET & PBT Resins Market, By PBT Resins Application:
• Automotive
• Consumer Appliance
• Electronical & Electrical
• Others
• India PET & PBT Resins Market, By Region:
• North
• South
• East
• West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India PET & PBT Resins Market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights