Polyethylene Terephthalate Market: Information by Application (Polyester Fiber and Packaging Resin), End-User (Packaging Industry, Electrical & Electronics), and Region — Forecast till 2029

Apr 14, 2020   Market Overview Polyethylene terephthalate (PET) is a polymer commonly known as PET. The polymer is extensively used in packaging, fabrics, films, molded parts for automotive and electronics, among others. The polymer is mainly used as flexible packaging for FMCG products or daily-use consumer products such as water bottles, toothpaste, cosmetics, and personal care and hygiene products. Polyethylene terephthalate is resistant to oil, alcohol, diluted acid, aliphatic hydrocarbons, and grease. It...
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Market Overview

Polyethylene terephthalate (PET) is a polymer commonly known as PET. The polymer is extensively used in packaging, fabrics, films, molded parts for automotive and electronics, among others. The polymer is mainly used as flexible packaging for FMCG products or daily-use consumer products such as water bottles, toothpaste, cosmetics, and personal care and hygiene products. Polyethylene terephthalate is resistant to oil, alcohol, diluted acid, aliphatic hydrocarbons, and grease. It has moderate resistance to diluted alkali halogenated and aromatic hydrocarbon. It is witnessing huge demand in the food and beverage industries, further driving the market growth. The production of PET bottles worldwide was 485 billion in 2016.

Advantages of Polyethylene Terephthalate (PET) over Polybutylene Terephthalate (PBT)

Chemical polyethylene terephthalateis similar to polybutylene terephthalate, as both are mainly used in the packaging industry. Some advantages of PET are as follows;

  • PET has higher strength and stiffness than Polybutylene Terephthalate
  • PET is well known for its good moisture and gas (oxygen, carbon dioxide) barrier properties
  • PET is very strong and lightweight and hence easy and efficient to transport
  • It also has excellent electrical insulating properties
  • PET can be used to a broad range of temperature from ­­-60 to 130-degree C
  • Compared to PBT it also has higher heat distortion temperature (HDT)
  • PET has low gas permeability, particularly with CO2
  • Polyethylene Terephthalate is suitable for transparent applications
  • Polyethylene Terephthalate does not fracture or break. It is shatter-resistant and suitable glass replacement in various applications
  • PET is recyclable and transparent to microwave radiation
  • PET is approved as GRAS for food application by the FDA, Health Canada, EFSA, and other authorities

Rapid Expansion of Bottled Water Industry: A Key Market Driver

Shifting preference towards bottled water is compelling the market players to introduce a new variety of water, such as sparkling water, minerals infused water, and flavored bottled water, among others.  As per the International Bottled Water Associations 2018 report, in the U.S.., the bottled water market consumption increased from 12,808 million gallons to 13,7105 million gallons. Similarly, per person consumption of bottled water is projected to reach more than 50 gallons in the coming years. Polyethylene Terephthalate (PET) is extensively used for packaging bottled water as it is recyclable and environment-friendly.

Stringent Environmental Norms Regarding the Disposal of Polyethylene Terephthalate: A Key Market Restraint

Polyethylene Terephthalate(PET) is used in packaging, automobile, electrical electronics, textiles, and household appliance industries. It is transparent and non-biodegradable —meaning it breaks into smaller fragments and pollutes water bodies by seeping underground and contaminating soil — which is restraining the market growth. To address the situation, the governments across the globe have imposed stringent regulations in terms of PET disposal, further hampering the market growth. For instance, Basel Conference of the Parties, held in May 2019, amended the Basel Convention to include plastic waste in a legally binding framework. The countries will have to take prior consent before exporting mixed plastic scrap. Furthermore, rising environmental awareness regarding plastic pollution has compelled the governments to ban plastic, further impeding the market growth.

Panic Buying of Consumer Goods: A Key Market Opportunity 

The COVID-19 pandemic has increased the demand for consumer goods with ready to eat packaged foods and other perishable goods flying off the shelves. The pandemic has also accelerated the demand for online food delivery and other essential goods. Companies like Amazon, Walmart, and Target in the U.S are channelizing efforts to offer consumer goods in such challenging times. The pandemic is also causing panic buying and hoarding of essential goods such as hand sanitizers by consumers. FMCG industry employs extensive use of Polyethylene Terephthalate (PET) for packaging processed foods, beverages, cosmetics, and toiletries, among others.

Regional Overview

Polyethylene Terephthalate Market in North America

As per the American Chemistry Council, in 2017, plastic production was around 35 million tons in the U.S. As per the EPA, roughly 1021.1 billion plastic bags are used in the U.S. every year. Thus, the rising demand for plastic is subsequently increasing water pollution, which has compelled the U.S. government to ban plastic in the country. For instance, almost 8 million tons of plastic is dumped in the world's ocean annually. Plastic wastes kill nearly a million sea creatures every year.

China to be the Leading Contributor to Asia-Pacific’s Polyethylene Terephthalate Market

Asia Pacific held the largest share in the plastic and polymer production across the world. As per the Gulf Petrochemicals & Chemical Association, the global polymer sales value was around USD 851 million, of which Asia-Pacific alone accounted for 67% of polymers sales in 2016. China is the largest producer of thermoplastics, such as polyethylene terephthalate, in the region. The country alone produced 92.1 million tons of thermoplastic in 2016, which is around 31% of the global production of thermoplastic. In the same year, Asia-Pacific, excluding China, produced about 63.1 million tons of thermoplastic and contributed around 21% to the global sales volume.  

Saudi Arabia: Largest Producer of Polyethylene

The Middle East is a prominent region for petrochemical products such as polyethylene terephthalate. The region is primarily focused on the production of petrochemical products. The GCC polymer industry employs around 40,000 people. Saudi Arabia is the largest producer of petrochemicals in the region. The country accounted for about 67% percent of the GCC resin’s production in 2016. It was also the largest consumer of polymers in the region, accounting for about 61% or 5 million tons of consumption in the GCC. In addition, Saudi Arabia alone accounted for 2% of the global polymer sales and ranked eight at the top plastic producers globally.

Table: Data on Plastics in MSW (U.S.) by Weight (000’ Metric Tons)

Data on-Plastics-in-MSW-by-Weight

Key Players

  • Alpek S.A.B de C.V
  • BASF SE
  • DuPont de Nemours, Inc.
  • Indorama Ventures
  • Lanxess Corporation
  • KoninklijkeDSM N.V.
  • Dhunseri Petrochem Ltd.
  • Eastman Chemical Company
  • Reliance Industries Ltd
  • Distrupol
  • Verdeco Recycling Inc
  • SRF Limited
  • RadiciPartecipazioni S.P.A. 
  • Kolon Plastics
  • SABIC

Polyethylene Terephthalate Market Segmentation

By Application

  • Polyester fiber
  • Packaging resin

By End-User

  • Packaging industry
  • Electrical & electronics
  • Automotive
  • Household appliance
  • Textile

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • Netherlands
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Singapore
  • Vietnam
  • The Rest of Europe

Central and South America, and the Caribbean

  • Brazil
  • Argentina
  • Colombia
  • The Rest of Central, South America, and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • Oman
  • Bahrain
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • Ghana
  • Tanzania
  • The Rest of Africa

Frequently Asked Questions (FAQs)

Packaging Industry Segment is expected to be the leading segment in Polyethylene Terephthalate Market during the forecast period.
Alpek S.A.B de C.V, BASF SE, DuPont de Nemours, Inc., Indorama Ventures, Lanxess Corporation, KoninklijkeDSM N.V., Dhunseri Petrochem Ltd., Eastman Chemical Company, Reliance Industries Ltd are the top players in Polyethylene Terephthalate Market.
North America is expected to hold the highest market share in Polyethylene Terephthalate Market.
Increasing huge demand in the food and beverage industries, the rapid expansion of the bottled water industry are the key factors expected to drive Polyethylene Terephthalate Market during the forecast period.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.

Market Overview

Polyethylene terephthalate (PET) is a polymer commonly known as PET. The polymer is extensively used in packaging, fabrics, films, molded parts for automotive and electronics, among others. The polymer is mainly used as flexible packaging for FMCG products or daily-use consumer products such as water bottles, toothpaste, cosmetics, and personal care and hygiene products. Polyethylene terephthalate is resistant to oil, alcohol, diluted acid, aliphatic hydrocarbons, and grease. It has moderate resistance to diluted alkali halogenated and aromatic hydrocarbon. It is witnessing huge demand in the food and beverage industries, further driving the market growth. The production of PET bottles worldwide was 485 billion in 2016.

Advantages of Polyethylene Terephthalate (PET) over Polybutylene Terephthalate (PBT)

Chemical polyethylene terephthalateis similar to polybutylene terephthalate, as both are mainly used in the packaging industry. Some advantages of PET are as follows;

  • PET has higher strength and stiffness than Polybutylene Terephthalate
  • PET is well known for its good moisture and gas (oxygen, carbon dioxide) barrier properties
  • PET is very strong and lightweight and hence easy and efficient to transport
  • It also has excellent electrical insulating properties
  • PET can be used to a broad range of temperature from ­­-60 to 130-degree C
  • Compared to PBT it also has higher heat distortion temperature (HDT)
  • PET has low gas permeability, particularly with CO2
  • Polyethylene Terephthalate is suitable for transparent applications
  • Polyethylene Terephthalate does not fracture or break. It is shatter-resistant and suitable glass replacement in various applications
  • PET is recyclable and transparent to microwave radiation
  • PET is approved as GRAS for food application by the FDA, Health Canada, EFSA, and other authorities

Rapid Expansion of Bottled Water Industry: A Key Market Driver

Shifting preference towards bottled water is compelling the market players to introduce a new variety of water, such as sparkling water, minerals infused water, and flavored bottled water, among others.  As per the International Bottled Water Associations 2018 report, in the U.S.., the bottled water market consumption increased from 12,808 million gallons to 13,7105 million gallons. Similarly, per person consumption of bottled water is projected to reach more than 50 gallons in the coming years. Polyethylene Terephthalate (PET) is extensively used for packaging bottled water as it is recyclable and environment-friendly.

Stringent Environmental Norms Regarding the Disposal of Polyethylene Terephthalate: A Key Market Restraint

Polyethylene Terephthalate(PET) is used in packaging, automobile, electrical electronics, textiles, and household appliance industries. It is transparent and non-biodegradable —meaning it breaks into smaller fragments and pollutes water bodies by seeping underground and contaminating soil — which is restraining the market growth. To address the situation, the governments across the globe have imposed stringent regulations in terms of PET disposal, further hampering the market growth. For instance, Basel Conference of the Parties, held in May 2019, amended the Basel Convention to include plastic waste in a legally binding framework. The countries will have to take prior consent before exporting mixed plastic scrap. Furthermore, rising environmental awareness regarding plastic pollution has compelled the governments to ban plastic, further impeding the market growth.

Panic Buying of Consumer Goods: A Key Market Opportunity 

The COVID-19 pandemic has increased the demand for consumer goods with ready to eat packaged foods and other perishable goods flying off the shelves. The pandemic has also accelerated the demand for online food delivery and other essential goods. Companies like Amazon, Walmart, and Target in the U.S are channelizing efforts to offer consumer goods in such challenging times. The pandemic is also causing panic buying and hoarding of essential goods such as hand sanitizers by consumers. FMCG industry employs extensive use of Polyethylene Terephthalate (PET) for packaging processed foods, beverages, cosmetics, and toiletries, among others.

Regional Overview

Polyethylene Terephthalate Market in North America

As per the American Chemistry Council, in 2017, plastic production was around 35 million tons in the U.S. As per the EPA, roughly 1021.1 billion plastic bags are used in the U.S. every year. Thus, the rising demand for plastic is subsequently increasing water pollution, which has compelled the U.S. government to ban plastic in the country. For instance, almost 8 million tons of plastic is dumped in the world's ocean annually. Plastic wastes kill nearly a million sea creatures every year.

China to be the Leading Contributor to Asia-Pacific’s Polyethylene Terephthalate Market

Asia Pacific held the largest share in the plastic and polymer production across the world. As per the Gulf Petrochemicals & Chemical Association, the global polymer sales value was around USD 851 million, of which Asia-Pacific alone accounted for 67% of polymers sales in 2016. China is the largest producer of thermoplastics, such as polyethylene terephthalate, in the region. The country alone produced 92.1 million tons of thermoplastic in 2016, which is around 31% of the global production of thermoplastic. In the same year, Asia-Pacific, excluding China, produced about 63.1 million tons of thermoplastic and contributed around 21% to the global sales volume.  

Saudi Arabia: Largest Producer of Polyethylene

The Middle East is a prominent region for petrochemical products such as polyethylene terephthalate. The region is primarily focused on the production of petrochemical products. The GCC polymer industry employs around 40,000 people. Saudi Arabia is the largest producer of petrochemicals in the region. The country accounted for about 67% percent of the GCC resin’s production in 2016. It was also the largest consumer of polymers in the region, accounting for about 61% or 5 million tons of consumption in the GCC. In addition, Saudi Arabia alone accounted for 2% of the global polymer sales and ranked eight at the top plastic producers globally.

Table: Data on Plastics in MSW (U.S.) by Weight (000’ Metric Tons)

Data on-Plastics-in-MSW-by-Weight

Key Players

  • Alpek S.A.B de C.V
  • BASF SE
  • DuPont de Nemours, Inc.
  • Indorama Ventures
  • Lanxess Corporation
  • KoninklijkeDSM N.V.
  • Dhunseri Petrochem Ltd.
  • Eastman Chemical Company
  • Reliance Industries Ltd
  • Distrupol
  • Verdeco Recycling Inc
  • SRF Limited
  • RadiciPartecipazioni S.P.A. 
  • Kolon Plastics
  • SABIC

Polyethylene Terephthalate Market Segmentation

By Application

  • Polyester fiber
  • Packaging resin

By End-User

  • Packaging industry
  • Electrical & electronics
  • Automotive
  • Household appliance
  • Textile

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • Netherlands
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Singapore
  • Vietnam
  • The Rest of Europe

Central and South America, and the Caribbean

  • Brazil
  • Argentina
  • Colombia
  • The Rest of Central, South America, and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • Oman
  • Bahrain
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • Ghana
  • Tanzania
  • The Rest of Africa

Frequently Asked Questions (FAQs)

Packaging Industry Segment is expected to be the leading segment in Polyethylene Terephthalate Market during the forecast period.
Alpek S.A.B de C.V, BASF SE, DuPont de Nemours, Inc., Indorama Ventures, Lanxess Corporation, KoninklijkeDSM N.V., Dhunseri Petrochem Ltd., Eastman Chemical Company, Reliance Industries Ltd are the top players in Polyethylene Terephthalate Market.
North America is expected to hold the highest market share in Polyethylene Terephthalate Market.
Increasing huge demand in the food and beverage industries, the rapid expansion of the bottled water industry are the key factors expected to drive Polyethylene Terephthalate Market during the forecast period.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.