Polyethylene Terephthalate (PET) Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the global Polyethylene Terephthalate (PET) market. The report offers an in-depth evaluation of critical market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure.

Key Insights:

PET Market Size (2024E): US$47.7 Bn
Projected Market Value (2031F): US$72.1 Bn
Global Market Growth Rate (CAGR 2024 to 2031):6.1%

PET Market - Report Scope:

Polyethylene Terephthalate (PET) is a versatile thermoplastic polymer used extensively in packaging, textiles, and various industrial applications. The PET market caters to packaging industries for beverages, food, and pharmaceuticals, as well as to the textile sector for fibers and films. Market growth is driven by increasing demand for sustainable packaging solutions, advancements in recycling technologies, and the expansion of end-use industries, including food and beverage, automotive, and consumer goods.

Market Growth Drivers:

The global PET market is propelled by several key factors, including the rising demand for eco-friendly and recyclable packaging solutions. Consumers and companies are increasingly prioritizing sustainability, which drives the adoption of PET due to its recyclability and durability. Technological advancements in PET recycling, such as the development of closed-loop systems and the integration of advanced sorting technologies, further stimulate market growth. Additionally, the expansion of the food and beverage industry and increasing consumer preference for bottled water and convenience foods contribute to the growing demand for PET packaging.

Market Restraints:

Despite promising growth prospects, the PET market faces challenges related to environmental concerns and regulatory pressures. The production and disposal of PET can contribute to environmental pollution and plastic waste, leading to stringent regulations and growing scrutiny from environmental groups. Additionally, fluctuations in raw material prices and supply chain disruptions can impact manufacturing costs and market stability. Addressing these environmental and economic challenges requires innovation in recycling processes, alternative materials, and effective waste management strategies.

Market Opportunities:

The PET market presents significant growth opportunities driven by technological innovations, shifting consumer preferences, and evolving industry trends. The development of advanced PET recycling technologies, such as chemical recycling and enzymatic degradation, offers opportunities for market expansion and sustainability. Furthermore, the increasing adoption of PET in emerging applications, such as high-performance fibers and engineering plastics, broadens the market scope. Strategic investments in research and development, along with collaborations with industry stakeholders, are crucial for capitalizing on these opportunities and driving sustainable growth in the PET market.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the global PET market?
How are advancements in PET recycling technologies influencing market dynamics?
What are the key applications and end-use industries driving PET demand?
Who are the major players in the PET market, and what strategies are they employing to maintain market relevance?
What are the emerging trends and future prospects in the global PET market?

Competitive Intelligence and Business Strategy:

Leading players in the global PET market, including Indorama Ventures Public Company Limited, Alpek S.A.B. de C.V., and Far Eastern New Century Corporation, focus on innovation, product differentiation, and strategic partnerships to gain a competitive edge. These companies invest in R&D to develop advanced PET products, including high-performance and specialty grades, catering to diverse industry needs. Collaborations with packaging companies, technology providers, and regulatory agencies facilitate market access and promote technology adoption. Emphasis on sustainability initiatives, such as closed-loop recycling and reduced environmental impact, is integral to enhancing market growth and ensuring long-term success.

Key Companies Profiled:

Indorama Ventures Public Company Limited
Alpek S.A.B. de C.V.
Far Eastern New Century Corporation
DAK Americas LLC
PETnology International
Jiangsu Sanfangxiang Group Co., Ltd.
M&G Chemicals
Nan Ya Plastics Corporation
Krones AG
China Petroleum & Chemical Corporation (Sinopec)

Polyethylene Terephthalate (PET) Market Segmentation

By Product Type

Virgin
Recycled

By Application

Sheets & Straps
Rigid Packaging
Film

By Region

North America
Europe
East Asia
South Asia & Oceania
Latin America
The Middle East & Africa

Product Code: PMRREP34766

1. Executive Summary

1.1. Global Polyethylene Terephthalate (PET) Snapshot, 2024-2031
1.2. Market Opportunity Assessment, 2024-2031, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global Sectorial Outlook
- 2.3.2. Global GDP Growth Outlook
- 2.3.3. Other Macro-economic Factors
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact
2.6. Regulatory Landscape
2.7. Value Chain Analysis
- 2.7.1. List of Raw Materials Suppliers
- 2.7.2. List of Product Type Manufacturers
- 2.7.3. List of Product Type Distributors
- 2.7.4. List of End Users
2.8. PESTLE Analysis
2.9. Porter's Five Force Analysis

3. Price Trend Analysis, 2019-2031

3.1. Key Highlights
3.2. Key Factors Impacting Product Type Prices
3.3. Pricing Analysis, By Product Type
3.4. Regional Prices and Historical and Future Growth Trends

4. Global Polyethylene Terephthalate (PET) Outlook: Historical (2019-2023) and Forecast (2024-2031)

4.1. Key Highlights
- 4.1.1. Market Volume (Kilo Tons) Projections
- 4.1.2. Market Size (US$ Bn) and Y-o-Y Growth
- 4.1.3. Absolute $ Opportunity
4.2. Market Size (US$ Bn) Analysis and Forecast
- 4.2.1. Historical Market Size (US$ Bn) Analysis, 2019-2023
- 4.2.2. Current Market Size (US$ Bn) Analysis and Forecast, 2024-2031
4.3. Global Polyethylene Terephthalate (PET) Outlook: Product Type
- 4.3.1. Introduction / Key Findings
- 4.3.2. Historical Market Size (US$ Bn) and Volume (Kilo Tons) Analysis, By Product Type, 2019-2023
- 4.3.3. Current Market Size (US$ Bn) and Volume (Kilo Tons) Analysis and Forecast, By Product Type, 2024-2031
  - 4.3.3.1. Virgin
  - 4.3.3.2. Recycled
4.4. Market Attractiveness Analysis: Product Type
4.5. Global Polyethylene Terephthalate (PET) Outlook: Application
- 4.5.1. Introduction / Key Findings
- 4.5.2. Historical Market Size (US$ Bn) Analysis, By Application, 2019-2023
- 4.5.3. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2024-2031
  - 4.5.3.1. Sheets & Straps
  - 4.5.3.2. Rigid Packaging
  - 4.5.3.3. Film
  - 4.5.3.4. Others
4.6. Market Attractiveness Analysis: Application

5. Global Polyethylene Terephthalate (PET) Outlook: Region

5.1. Key Highlights
5.2. Historical Market Size (US$ Bn) and Volume (Kilo Tons) Analysis, By Region, 2019-2023
5.3. Current Market Size (US$ Bn) and Volume (Kilo Tons) Analysis and Forecast, By Region, 2024-2031
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. East Asia
- 5.3.4. South Asia and Oceania
- 5.3.5. Latin America
- 5.3.6. Middle East & Africa
5.4. Market Attractiveness Analysis: Region

6. North America Polyethylene Terephthalate (PET) Outlook: Historical (2019-2023) and Forecast (2024-2031)

6.1. Key Highlights
6.2. Pricing Analysis
6.3. Historical Market Size (US$ Bn) and Volume (Kilo Tons) Analysis, By Market, 2019-2023
- 6.3.1. By Country
- 6.3.2. By Product Type
- 6.3.3. By Application
6.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 6.4.1. U.S.
- 6.4.2. Canada
6.5. Current Market Size (US$ Bn) and Volume (Kilo Tons) Analysis and Forecast, By Product Type, 2024-2031
- 6.5.1. Virgin
- 6.5.2. Recycled
6.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2024-2031
- 6.6.1. Sheets & Straps
- 6.6.2. Rigid Packaging
- 6.6.3. Film
- 6.6.4. Others
6.7. Market Attractiveness Analysis

7. Europe Polyethylene Terephthalate (PET) Outlook: Historical (2019-2023) and Forecast (2024-2031)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Bn) and Volume (Kilo Tons) Analysis, By Market, 2019-2023
- 7.3.1. By Country
- 7.3.2. By Product Type
- 7.3.3. By Application
7.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 7.4.1. Germany
- 7.4.2. France
- 7.4.3. U.K.
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Turkey
- 7.4.8. Rest of Europe
7.5. Current Market Size (US$ Bn) and Volume (Kilo Tons) Analysis and Forecast, By Product Type, 2024-2031
- 7.5.1. Virgin
- 7.5.2. Recycled
7.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2024-2031
- 7.6.1. Sheets & Straps
- 7.6.2. Rigid Packaging
- 7.6.3. Film
- 7.6.4. Others
7.7. Market Attractiveness Analysis

8. East Asia Polyethylene Terephthalate (PET) Outlook: Historical (2019-2023) and Forecast (2024-2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Bn) and Volume (Kilo Tons) Analysis, By Market, 2019-2023
- 8.3.1. By Country
- 8.3.2. By Product Type
- 8.3.3. By Application
8.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 8.4.1. China
- 8.4.2. Japan
- 8.4.3. South Korea
8.5. Current Market Size (US$ Bn) and Volume (Kilo Tons) Analysis and Forecast, By Product Type, 2024-2031
- 8.5.1. Virgin
- 8.5.2. Recycled
8.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2024-2031
- 8.6.1. Sheets & Straps
- 8.6.2. Rigid Packaging
- 8.6.3. Film
- 8.6.4. Others
8.7. Market Attractiveness Analysis

9. South Asia & Oceania Polyethylene Terephthalate (PET) Outlook: Historical (2019-2023) and Forecast (2024-2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Bn) and Volume (Kilo Tons) Analysis, By Market, 2019-2023
- 9.3.1. By Country
- 9.3.2. By Product Type
- 9.3.3. By Application
9.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 9.4.1. India
- 9.4.2. Southeast Asia
- 9.4.3. ANZ
- 9.4.4. Rest of South Asia & Oceania
9.5. Current Market Size (US$ Bn) and Volume (Kilo Tons) Analysis and Forecast, By Product Type, 2024-2031
- 9.5.1. Virgin
- 9.5.2. Recycled
9.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2024-2031
- 9.6.1. Sheets & Straps
- 9.6.2. Rigid Packaging
- 9.6.3. Film
- 9.6.4. Others
9.7. Market Attractiveness Analysis

10. Latin America Polyethylene Terephthalate (PET) Outlook: Historical (2019-2023) and Forecast (2024-2031)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Bn) and Volume (Kilo Tons) Analysis, By Market, 2019-2023
- 10.3.1. By Country
- 10.3.2. By Product Type
- 10.3.3. By Application
10.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 10.4.1. Brazil
- 10.4.2. Mexico
- 10.4.3. Rest of Latin America
10.5. Current Market Size (US$ Bn) and Volume (Kilo Tons) Analysis and Forecast, By Product Type, 2024-2031
- 10.5.1. Virgin
- 10.5.2. Recycled
10.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2024-2031
- 10.6.1. Sheets & Straps
- 10.6.2. Rigid Packaging
- 10.6.3. Film
- 10.6.4. Others
10.7. Market Attractiveness Analysis

11. Middle East & Africa Polyethylene Terephthalate (PET) Outlook: Historical (2019-2023) and Forecast (2024-2031)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Bn) and Volume (Kilo Tons) Analysis, By Market, 2019-2023
- 11.3.1. By Country
- 11.3.2. By Product Type
- 11.3.3. By Application
11.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 11.4.1. GCC Countries
- 11.4.2. Egypt
- 11.4.3. South Africa
- 11.4.4. Northern Africa
- 11.4.5. Rest of Middle East & Africa
11.5. Current Market Size (US$ Bn) and Volume (Kilo Tons) Analysis and Forecast, By Product Type, 2024-2031
- 11.5.1. Virgin
- 11.5.2. Recycled
11.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2024-2031
- 11.6.1. Sheets & Straps
- 11.6.2. Rigid Packaging
- 11.6.3. Film
- 11.6.4. Others
11.7. Market Attractiveness Analysis

12. Competition Landscape

12.1. Market Share Analysis, 2023
12.2. Market Structure
- 12.2.1. Competition Intensity Mapping By Market
- 12.2.2. Competition Dashboard
12.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 12.3.1. Indorama Ventures
  - 12.3.1.1. Overview
  - 12.3.1.2. Segments and Grades
  - 12.3.1.3. Key Financials
  - 12.3.1.4. Market Developments
  - 12.3.1.5. Market Strategy
- 12.3.2. BASF SE
- 12.3.3. Far Eastern New Century Corp
- 12.3.4. Zhejiang Wankai New Materials Co Ltd
- 12.3.5. Reliance Industries Ltd.
- 12.3.6. The Dow Chemicals Company
- 12.3.7. Nan Ya Plastics Corporation
- 12.3.8. DAK Americas
- 12.3.9. SABIC
- 12.3.10. SK Chemicals
- 12.3.11. Neo Group
- 12.3.12. Alpek S.A.B. de C.V.
- 12.3.13. Lotte Chemical Corporation
- 12.3.14. Selenis
- 12.3.15. Zhejiang Hengyi Group Co., Ltd.

13. Appendix

13.1. Research Methodology
13.2. Research Assumptions
13.3. Acronyms and Abbreviations