H1 2023: The Polyethylene Terephthalate (PET) price trajectory in the Asian region exhibited varied dynamics throughout first half of 2023. During the initial half of Q1 2023, Polyethylene Terephthalate (PET) Resin prices witnessed an upswing in response to the anticipated shift in demand in the Asia-Pacific region. Additionally, export demand experienced an uptick post the Lunar New Year holiday in China. Subsequent to the holiday, production rates escalated swiftly, complemented by a surge in demand from the downstream packaging industry. The operational rates of downstream beverage plants remained steady. Notably, in February, Dragon Special Resins in Xiamen (China) underwent a maintenance closure throughout the entirety of the month. Nevertheless, in March 2023, the price trajectory reversed due to burgeoning inventories, despite sluggish downstream offtakes. Moving to the early part of Q2, Polyethylene Terephthalate (PET) prices experienced an upturn in the Asian market. Despite this, demand in the downstream packaging sector displayed a mixed pattern, with some improvement noted in the beverage and bottling segments. In June, PET resin prices saw a decline in the Asian nation attributed to weakened ethylene glycol feedstock prices, exerting downward pressure on the market. There was subdued end-user demand in the Asia Pacific region.
The global Polyethylene Terephthalate (PET) market stood around 29614 thousand tonnes in 2022 and is expected to grow at a steady CAGR of 4.14% during the forecast period until 2032. Polyethylene terephthalate is derived from ethylene glycol.
Polyethylene terephthalate (PET) stands as a highly versatile polymer with a spectrum of applications spanning multiple industries. Foremost among its uses is in packaging, where PET's transparency, lightweight nature, and exceptional mechanical properties make it a preferred material for bottling beverages, including water, soft drinks, and juices. The textile industry extensively utilizes PET in the creation of fibers, contributing to the production of durable clothing, carpets, and various fabrics. Additionally, PET serves a crucial role in the film and sheet sector, finding application in packaging, printing, and laminating materials. In the realm of engineering, PET is harnessed to produce resins for automotive components, electrical parts, and various mechanical applications. Beyond industrial uses, PET plays a pivotal role in everyday life. It is a key material for strapping, offering a strong and lightweight alternative for packaging and bundling goods. PET's thermoforming capabilities make it adaptable for crafting trays, containers, and other shapes, particularly in the food packaging and disposable product sectors. Medical applications also benefit from PET, with its use in IV containers, medical trays, and blister packaging for pharmaceuticals. Polyethylene Terephthalate (PET) serves diverse roles in textiles and automotive applications owing to its versatile attributes. In the textile industry, PET is extensively employed to produce polyester fibers, renowned for their durability and moisture-wicking features, utilized in clothing, home textiles, and industrial fabrics. Additionally, PET fibers play a pivotal role in the creation of resilient and stain-resistant carpets. In the automotive sector, PET finds application in the manufacturing of seat fabrics, contributing to interiors known for their wear resistance and easy maintenance. Furthermore, PET fibers are utilized in automotive carpeting and upholstery, offering durability and stain resistance suitable for the demanding conditions of vehicular use.
PET finds its primary application in the production of beverage bottles, benefiting from its food-safe and chemically inert properties, making it a widely preferred material for food packaging. The safety and inertness of PET contribute to its extensive use in the food packaging sector, fostering a sustained demand expected to persist in the forecast period. The automotive industry's increasing preference for PET fibers in seat fabrics, upholstery, and carpeting is driven by the polymer's attributes of durability, stain resistance, and ease of maintenance. As the automotive sector continues to prioritize materials that offer both functionality and sustainability, the demand for PET in diverse automotive applications is poised for sustained growth, making it a significant driver in the PET market. Furthermore, the market experiences growth propelled by an increasing demand for high-resistance fibers, particularly in the manufacturing of carpet textiles. Among these fibers, those derived from PET are anticipated to register the fastest growth. The inherent high resistance of PET fibers against stretching, resulting in a high initial modulus, positions them favorably. Additionally, their stiffness relative to nylon fibers makes PET fibers an ideal choice for textile applications requiring exceptional dimensional stability, contributing to the overall expansion of the market. Throughout the projection period the increase in the demand of Polyethylene Terephthalate (PET) from various sectors is likely to make it reach nearly 42600 thousand tonnes in the forecast period of 2032.
Based on region, Asia Pacific region is the leading consumer of Polyethylene Terephthalate (PET) all across the globe and is likely to retain its position in the upcoming years. With populous countries like China and India driving substantial demand for PET in packaging, textiles, and beverages, the region benefits from a burgeoning middle-class population and increasing urbanization. Notably, the robust manufacturing capabilities in countries like China contribute to a significant expansion of PET production capacity, establishing the region as a key player in the global market. The proximity of raw material sources and an efficient supply chain further fortify its competitive edge. Additionally, the region's rapid economic development and industrialization fuel demand across diverse sectors, including construction and automotive. The Asia Pacific's commitment to sustainability, evidenced by a growing emphasis on recycling initiatives and the circular economy, aligns seamlessly with PET's recyclability, positioning the region as a influential force shaping the trajectory of the global PET market in the years ahead.
Based on the end-user industry, the global Polyethylene Terephthalate (PET) market is segmented into Food & Beverages Packaging, Films & sheets, Consumer Goods, Fibers, and Others. Among these, Food & Beverages Packaging is dominating as a consumer, with a market share of roughly 40% of the total demand in 2022.
Significant players in the Global Polyethylene Terephthalate (PET) market are lfa S.A.B. de C.V., China Petroleum & Chemical Corporation, China Resources (Holdings) Co., Ltd., Far Eastern New Century Corporation, Indorama Ventures Public Company Limited, JBF Industries Ltd, Reliance Industries Limited, SABIC, Sanfame Group, Zhejiang Hengyi Group Co., Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of Polyethylene Terephthalate (PET) which covers production, demand and supply of Polyethylene Terephthalate (PET) market in the globe.
• To analyse and forecast the market size of Polyethylene Terephthalate (PET)
• To classify and forecast Global Polyethylene Terephthalate (PET) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polyethylene Terephthalate (PET) market in the globe.
To extract data for Global Polyethylene Terephthalate (PET) market, primary research surveys were conducted with Polyethylene Terephthalate (PET) suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polyethylene Terephthalate (PET) market over the coming years.
ChemAnalyst calculated Polyethylene Terephthalate (PET) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Polyethylene Terephthalate (PET) across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyethylene Terephthalate (PET) and other stakeholders
• Organizations, forums and alliances related to Polyethylene Terephthalate (PET) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyethylene Terephthalate (PET) customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polyethylene Terephthalate (PET) s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
29614 thousand tonnes
Market size Volume by 2032
42600 thousand tonnes
Growth Rate
CAGR of 4.14% from 2023 to 2032
Base year
2022
Estimated year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Food & Beverages Packaging, Films & sheets, Consumer Goods, Fibers, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com.
Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Polyethylene Terephthalate (PET) market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential and their current and future operation capacity on a practically real-time basis for Polyethylene Terephthalate (PET).
3. Capacity By Location
To better understand the regional supply of Polyethylene Terephthalate (PET) by analyzing location-based capacity.
4. Plant Operating Efficiency
To determine what percentage are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Polyethylene Terephthalate (PET) by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Food & Beverages Packaging, Films & sheets, Consumer Goods, Fibers, and Others) are creating a market and the forecast for the growth of the Polyethylene Terephthalate (PET) market.
7. Demand by Region
Analyzing the change in demand of Polyethylene Terephthalate (PET) in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Polyethylene Terephthalate (PET). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Polyethylene Terephthalate (PET).
10. Company Share
Figure out what proportion of the market share of Polyethylene Terephthalate (PET) is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Polyethylene Terephthalate (PET).
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected global market size of Polyethylene Terephthalate (PET) in terms of volume for 2032?
Ans:
The global market size of Polyethylene Terephthalate (PET) is expected to reach approximately 42600 thousand tonnes by 2032, and it is expected to further expand with a CAGR of 4.14%.
Q2.
What are the major end-use industries of Polyethylene Terephthalate (PET)?
Ans:
Polyethylene Terephthalate (PET) is used in a wide range of end use industries including Food & Beverages Packaging, Films & sheets, Consumer Goods, Fibers, and Others.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database) Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.
