Polyethylene Terephthalate industry Overview:
Polyethylene terephthalate are widely
used in the end-use industries such as automobile, food & beverage,
electrical & electronics, and others. The global Polyethylene Terephthalate
industry is spanned across five regions of the world namely North America Latin
America, Europe, and the Middle East & Africa and Asia Pacific. Among these, Asia Pacific holds a major share
of the global market and is projected to continue leading, owing to the growing
demand from the food & beverage, automobile and electronic industry. The
major countries attributing to this growth are India and China. The developing
retail sector coupled with the growing working population has augmented the
demand for on the go food and beverages which is a major factor positively
effecting the market growth.
North America is another dominant
region which is mainly driven by the developed end-use industries. The growing
export of food and beverages from the region has further fuelled the need for
polyethylene terephthalate in packaging due to its high tensile strength and
lightweight. Moreover, the growing adoption of PET in the automobile sector
owing to its light weight and fuel efficiency is also expected to boost the
market growth in this region. The U.S. and Canada are important countries attributing
to this growth.
European market of Polyethylene Terephthalate Industry is set to grow at a steady pace
during the forecast period. The presence of the developed electronic and
automobile are the major factor driving the market growth. Furthermore, the
growing working population has augmented the demand for on the food and beverage
products in turn adding to the market growth. In addition to this, the
ever-increasing health consciousness about the foodborne diseases has resulted
in the high adoption of polyethylene terephthalate in the food and beverage
industry of the region.
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Segmentation:
The global Polyethylene Terephthalate
industry on the basis of product types and application. On the basis of product
types, the market is segmented as carbonated soft drinks, energy drinks,
bottled water sheets & films, food and non-food and others. On the basis of
application industry, the global Polyethylene Terephthalate industry is
segregated into food & beverages, electronics, automotive, and others.
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Competitive Analysis
Some of the prominent players
operating in the Global Polyethylene Terephthalate industry are Alpek S.A.B de
C.V (Mexico), RTP company (U.S.), BASF SE (Germany), The Dow Chemicals Company
(U.S.), Jiangsu Sanfangxiang Group (China), Indorama Ventures Public Company
Limited (Thailand), M&G Chemicals (Italy), NAN YA PLASTICS CORPORATION
(Taiwan), Far Eastern New Century Corporation (Taiwan), and The Quadrant group
of companies (Switzerland).
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Studying Covid19 and its Impact on Various Industry Verticals and wherever
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