Global Polyethylene Terephthalate Market 2021 (Includes Business Impact of COVID-19)

  • TBI399505
  • September 16, 2021
  • Global
  • 149 pages
  • Market.US
                                              

Report updated on 11th September, 2021: Global Polyethylene Terephthalate Market 2021 (Includes Business Impact of COVID-19)

Global Polyethylene Terephthalate Market, Growth and Forecast 2021 to 2030 is an upcoming researched market report by the research team of Trusted Business Insights. The subsequent report presents detailed global insights about the industry, revenue details, along with other important data on the global market. The report is inclusive of ongoing trends, drivers, restraints and threats, and opportunities. It also offers detailed facts about prominent players in the market, including financials, key developments and recent innovations, sustainability strategies such as acquisitions and mergers, etc. The quantitative and qualitative data for country-level markets under regions, and for segments have been provided for each in tabular format. The report has been bifurcated on the basis of technology, grade, end-use application, end-use industry, and region. The global Polyethylene Terephthalate market size was valued at USD$29.16 billion in 2020 and is projected to reach USD $49.43 billion by 2030 is anticipated to expand at a CAGR of 5.40% over the forecast period from 2020 to 2030.

Polyethylene Terephthalate: Overview

Polyethylene Terephthalate, also termed as PETE or PET, is a polymer or plastic resin which is widely used in various end-use industries such as food & beverage, packaging, automotive, textiles, etc. There are 2 types of polyethylene terephthalate available currently, virgin and recycled. The virgin is used for blister forming, automotive, food packaging, and others. The recycled one is used for fiber, strapping, sheet and film, food & beverage bottles, non-food bottles, engineered resin, and others.

Polyethylene Terephthalate Market: Driving and Hindering Factors

Growing demand for packed food, frozen food, and carbonated beverages, bottled water and juices, coupled with adoption of recycled PET containers is anticipated to fuel market revenue growth. In addition, increasing need for PET-based packaging in the rapidly growing packaging industry and medical industry is another factor resulting in higher demand for PET, thereby propelling target market growth. Moreover, increasing production and sales of automobiles across the world and constantly rising demand for electrical and electronics by consumers is leading to higher adoption of polyethylene terephthalate. Unfavorable regulations by the government concerning environmental emissions is a major factor that could hinder market growth. In addition, easy availability of substitutes and growing number of rules to ban plastic products in various countries are factors that could affect market growth in developed as well as developing countries. Investments by major players in R&D activities in order to develop and launch innovative products using less hazardous PET materials such as bio-based PET is an ongoing trend that is estimated to offer revenue growth opportunities to companies in the near future.

Region Analysis: Polyethylene Terephthalate Market

The Asia Pacific (APAC) polyethylene terephthalate market is anticipated to record dominant share in the global market in terms of value over the next 10 years. Rising demand and adoption of packaged food products and beverages in China, Korea, India, Australia, etc. in the region is expected to fuel Asia Pacific polyethylene terephthalate market growth. In APAC, the China market holds dominance in terms of production and consumption of polyethylene terephthalate. Growing demand for plastic products or containers among population, combined with presence of prominent companies in the country is anticipated to propel revenue growth of the China market in APAC region. The North America market is anticipated to record second- highest market share in the market, followed by Europe market. The Europe polyethylene terephthalate market is projected to witness steady CAGR over the 10-year forecast period. Latin America and MEA markets are anticipated to hold moderate revenue shares simultaneously.

Recent Market News: Global Polyethylene Terephthalate Market

In February 2019, a US-based Polyester company -DAK Americas LLC -acquired Perpetual PET recycling facility located in Richmond, Indiana, previously owned by a US-based company, Perpetual Recycling Solutions LLC. In 2018, US-based rPlanet Earth, a company that engages in closed-loop recycling of post-consumer plastics, started its first vertically integrated plant which has the ability to convert PET packaging waste into rPET finished products. These recycled products have properties similar to virgin PET.

Below are the active patents related to Polyethylene Terephthalate Market.

Patent Number: US20150343746A1 Multilayer films of fdca-based polyesters Abstract A multilayer film comprising (a) a biaxially-oriented polyethylene furanoate (BO-PEF) polymer layer, (b) an optional ink layer, (c) a bonding layer, and (d) a sealant layer, wherein the BO-PEF polymer has an 02 gas permeability of less than 0.25 cc-mil/100 in.2 24 hrs atm at 80% relative humidity, or a moisture permeability of less than 0.5 g-mil/ 100 in.2 24 hrs atm at 38° C., or both. The film may be formed from microlayers of BO-PEF -based polymer and polymer with a melting point of at least 5° C. greater than the melting point of the BO-PEF-based polymer. Application File Date: 2013-12-18 Application Granted Date: 2018-05-15 Current Assignee: Dow Global Technologies LLC Patent Number: CN104086957A High transparent anti-static PET (polyethylene terephthalate) polyester thin film and preparation method thereof Abstract The invention discloses a high transparent anti-static PET (polyethylene terephthalate) polyester thin film and a preparation method thereof. The high transparent anti-static PET polyester thin film comprises the following components: PET, an anti-static agent and an antioxidant at a mass ratio of (95-99):(1-5):0.1. Block copolymerization is carried out on terephthalic acid, ethylene glycol and polyether, and the obtained copolymer is subjected to twin-screw extrusion pelletizing, so that an anti-static master batch, namely the anti-static agent, is prepared; a PET polyester is chipped, the anti-static master batch is subjected to vacuum drying, the anti-static master batch and the PET polyester chips are uniformly mixed, the antioxidant is added and mixing is carried out; then a thick film is obtained by virtue of twin-screw extrusion, and the thick film is subjected to two-way stretching and then is sized, so that the high transparent anti-static thin film is obtained. The PET polyester thin film has the advantages that the anti-static function of the thin film is improved, the surface resistance of the PET polyester thin film can be reduced to 108-1010 ohm, and high transparency is also maintained; by adopting the anti-static master batch, a long-time and stable anti-static function can be played. Application File Date: 2014-07-15 Application Granted Date: 2016-01-13 Current Assignee: HANGZHOU HUASU INDUSTRY Co Ltd Patent Number: CN103747940B Extrusion polyethylene terephthalate parison, container, and method Abstract Extrusion PET parison includes the first extruded polymer comprising PET, and the second extruded polymer comprising PET.In embodiment, first extruded polymer and second extruded polymer are what is be coextruded, and first extruded polymer is with the inherent viscosity higher than the inherent viscosity of second extruded polymer. Further disclose a monolayer embodiment. In embodiment, individual layer extrusion pet container is made up of bottle grade PET resin, and the bottle grade PET resin has been solid-state and can be with from about 0.96 to about 1.4 IV. Application File Date: 2012-08-27 Application Granted Date: 2017-03-29 Current Assignee: Plastipak Packaging Inc

Global Polyethylene Terephthalate Market Segmentation:

Segmentation by Technology:
  • Blow Molding
  • Injection Molding
  • Extrusion
  • 3D Printing
Segmentation by Grade:
  • Textile Grade
  • Bottle Grade
  • Film Grade
  • Other Grades
Segmentation by End-use Application:
  • Fiber
  • Sheet and Film
  • Strapping
  • Food & Beverage Containers and Bottles
  • Non-Food Containers and Bottles
  • Others
Segmentation by End-use Industry:
  • Textile
  • Packaging
  • Automotive
  • Electrical and Electronics
  • Medical
  • Others

Key Market Players included in the report:

  • Alpek S.A.B de C.V. (Mexico)
  • Arkema
  • BASF SE
  • Evonik Industries
  • Far Eastern New Century (China)
  • Indorama Ventures (Thailand)
  • Jiangsu Sanfangxiang Group (China)
  • M&G Chemicals (Luxembourg)
  • Nan Ya Plastics Corporation (China)
  • Quadrant AG (Switzerland)
  • SABIC
  • The Sherwin-Williams Company.
  • Tray-Pak Corporation (U.S.)
  • Verdeco Recycling Inc. (U.S.)
  • Voridian (Eastman Chemicals) Inc (U.S.).

Below are the key development related to Polyethylene Terephthalate Market in 2020 and 2021.

June 2021: Indorama Ventures Completes Acquisition Of Carbonlite’s Texas PET Recycling Facility. Indorama Ventures (IVL), a global chemicals producer, has completed its acquisition of CarbonLite Holdings’ facility in Texas as part of the company’s commitment to increasing PET recycling capacity. Now known as Indorama Ventures Sustainable Recycling (IVSR), the Dallas site is one of the largest producers of food-grade recycled pellets (Recycled Polyethylene Terephthalate or rPET) in the United States, with a combined capacity of 92,000 tons annually. The facility will recycle more than 3 billion PET plastic beverage bottles per year and support more than 130 jobs directly. IVL is the world’s largest producer of recycled PET for beverage bottles. With this acquisition, IVL expands its U.S. recycling capacity to 10 billion beverage bottles a year, towards its global target of recycling 50 billion bottles (750,000 metric tons) annually by 2025. Source October 2021: Alpla acquires Amcor PET plant in western India The acquired plant manufactures preforms for the production of PET bottles for the beverage industry. Alpla Group, a specialist for packaging solutions and recycling based in Hard, Austria, has announced plans to acquire an Amcor facility in western India that produces preforms for polyethylene terephthalate (PET) bottles. Source August 2020: Indorama Ventures acquires Polish PET recycler IMP Polowat has the capacity to produce 23,000 metric tons of rPET flakes and 4,000 metric tons of rPET pellets annually. Global chemical producer Indorama Ventures Public Co. Ltd. (IVL), Bangkok, says it has entered into a definitive agreement to acquire Industrie Maurizio Peruzzo Polowat spotka z ograniczona odpowiedzialnoscia (IMP Polowat), a polyethylene terephthalate (PET) recycler in Poland. The acquisition consists of two assets, strategically located in Bielsko-Biala and Leczyca, close to the major population centers of Krakow and Warsaw. The production sites have a combined annual capacity of 23,000 metric tons of recycled PET (rPET) flakes and 4,000 metric tons of rPET pellets. Source February 2020: Direct Pack Inc. acquires Mexican PET recycler the acquired company, Atmosphera Verde, operates a facility that recycles about 20,000 tons of PET per year. (DPI), a sustainable thermoformed packaging company headquartered in Azusa, California, plans to expand its global operations with the acquisition of Guadalajara, Mexico-based Atmosphera Verde, a recycler of polyethylene terephthalate (PET). The Mexican recycler operates a facility that is capable of recycling 20,000 tons of PET per year, including postconsumer PET thermoforms. Source

Table of Contents
Chapter 1. Methodology and Scope                  1.1. Research Methodology                  1.2. Research Scope & Assumptions                  1.3. List of Data SourcesChapter 2. Executive SummaryChapter 3. Global Polyethylene Terephthalate Market Outlook                  3.1. Market Segmentation                  3.2. Market Size and Growth Prospects, 2016 - 2027                  3.3. Value Chain Analysis                  3.4. Market Dynamics                      3.4.1. Market driver analysis                      3.4.2. Market restraint analysis        
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