Global Polyethylene Terephthalate (PET) Market Size Study, by Type (Virgin, Recycled), by Application (Rigid Packaging, Film, Sheets & Straps, Others), and Regional Forecasts 2022-2032

Description

The Global Polyethylene Terephthalate (PET) Market is valued at approximately USD 48.35 billion in 2023 and is anticipated to grow at a robust compound annual growth rate (CAGR) of 9.50% over the forecast period 2024-2032. PET, widely recognized for its durability, lightweight properties, and recyclability, is integral to industries ranging from packaging to automotive. The demand for this versatile material is skyrocketing, driven by the surge in sustainable packaging solutions, especially in the food and beverage industry, and its expanding applications across various industrial sectors.

The market's growth is bolstered by technological advancements in PET manufacturing processes, enabling enhanced recyclability and reduced carbon footprints. Increasing consumer awareness and stringent regulations advocating eco-friendly practices are pushing businesses to adopt PET, particularly recycled variants, to align with environmental standards. The shift towards circular economies is further propelling the demand for PET, with brands and manufacturers embracing recycled PET to meet sustainability goals without compromising on product performance.

Regional dynamics play a pivotal role in shaping the PET market. North America and Europe are key markets, leveraging their advanced recycling infrastructure and strict environmental mandates to drive recycled PET adoption. Asia-Pacific emerges as the fastest-growing region, fueled by rapid industrialization, urbanization, and the escalating demand for rigid packaging solutions. Countries like China and India are at the forefront of PET consumption, with investments in recycling technologies and increasing public-private partnerships to enhance sustainability.

Leading companies in the market are focusing on innovative product development and strategic partnerships to address the growing demand for sustainable and high-performance PET solutions. Competitive strategies include expanding recycling capacities, exploring bio-based PET production, and establishing regional production facilities to cater to localized demand.

Major market players included in this report are:

Indorama Ventures Public Company Limited
Alpek S.A.B. de C.V.
Far Eastern New Century Corporation
Lotte Chemical Corporation
Jiangsu Sanfangxiang Group Co., Ltd.
Reliance Industries Limited
Octal Holding & Company SAOC
Zhejiang Hengyi Group Co., Ltd.
SABIC
Dow Inc.
Sinopec Group
Toray Industries, Inc.
BASF SE
Mitsubishi Chemical Corporation
Nan Ya Plastics Corporation

The detailed segments and sub-segments of the market are explained below:

By Type:

Virgin
Recycled

By Application:

Rigid Packaging
Film
Sheets & Straps
Others

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
ROE

Asia Pacific:

China
India
Japan
Australia
South Korea
RoAPAC

Latin America:

Brazil
Mexico

Middle East & Africa:

Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical Year - 2022
Base Year - 2023
Forecast Period - 2024 to 2032

Key Takeaways:

Comprehensive market estimates and forecasts spanning a 10-year horizon (2022-2032).
Granular revenue analysis at regional and segment levels.
Detailed geographical insights with country-specific data.
Profiling of major industry players with strategic initiatives and competitive analysis.
Recommendations for capitalizing on emerging market trends and opportunities.
In-depth analysis of supply-side and demand-side factors driving the market dynamics.

Chapter 1. Global Polyethylene Terephthalate (PET) Market Executive Summary

1.1. Global PET Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Polyethylene Terephthalate (PET) Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Polyethylene Terephthalate (PET) Market Dynamics

3.1. Market Drivers
- 3.1.1. Evolving Consumer Preferences for Sustainability
- 3.1.2. Innovations in Packaging Materials
- 3.1.3. Growth in Packaged Goods Consumption
3.2. Market Challenges
- 3.2.1. High Cost of Sustainable Packaging Materials
- 3.2.2. Regulatory Compliance Issues
3.3. Market Opportunities
- 3.3.1. Adoption of Smart Packaging Technologies
- 3.3.2. Expansion in Emerging Markets
- 3.3.3. Strategic Collaborations and Partnerships

Chapter 4. Global Polyethylene Terephthalate (PET) Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Polyethylene Terephthalate (PET) Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global PET Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Virgin
- 5.2.2. Recycled

Chapter 6. Global Polyethylene Terephthalate (PET) Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global PET Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Rigid Packaging
- 6.2.2. Film
- 6.2.3. Sheets & Straps
- 6.2.4. Others

Chapter 7. Global Polyethylene Terephthalate (PET) Market Size & Forecasts by Region 2022-2032

7.1. North America PET Market
- 7.1.1. U.S. PET Market
  - 7.1.1.1. Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. Application Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada PET Market
  - 7.1.2.1. Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.2.2. Application Breakdown Size & Forecasts, 2022-2032
7.2. Europe PET Market
- 7.2.1. U.K. PET Market
- 7.2.2. Germany PET Market
- 7.2.3. France PET Market
- 7.2.4. Spain PET Market
- 7.2.5. Italy PET Market
- 7.2.6. Rest of Europe PET Market
7.3. Asia-Pacific PET Market
- 7.3.1. China PET Market
- 7.3.2. India PET Market
- 7.3.3. Japan PET Market
- 7.3.4. Australia PET Market
- 7.3.5. South Korea PET Market
- 7.3.6. Rest of Asia Pacific PET Market
7.4. Latin America PET Market
- 7.4.1. Brazil PET Market
- 7.4.2. Mexico PET Market
- 7.4.3. Rest of Latin America PET Market
7.5. Middle East & Africa PET Market
- 7.5.1. Saudi Arabia PET Market
- 7.5.2. South Africa PET Market
- 7.5.3. Rest of Middle East & Africa PET Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Indorama Ventures Public Company Limited
- 8.1.2. Alpek S.A.B. de C.V.
- 8.1.3. Far Eastern New Century Corporation
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Indorama Ventures Public Company Limited
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Alpek S.A.B. de C.V.
- 8.3.3. Far Eastern New Century Corporation
- 8.3.4. Lotte Chemical Corporation
- 8.3.5. Jiangsu Sanfangxiang Group Co., Ltd.
- 8.3.6. Reliance Industries Limited
- 8.3.7. Octal Holding & Company SAOC
- 8.3.8. Zhejiang Hengyi Group Co., Ltd.
- 8.3.9. SABIC
- 8.3.10. Dow Inc.

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes