“Global Polyethylene Terephthalate (PET) Market Analysis & Opportunity Outlook 2021”
The global polyethylene terephthalate (PET) market is segmented into product type such as cups, bottles, vials, jars, tubs and others, out of which bottles segment is anticipated to showcase a significant CAGR by the end of 2021. Likely, robust expansion of beverages industry across the globe on the back of rapid urbanization is expected to flourish the growth of global polyethylene terephthalate (PET) market. In addition to this, rapid growth in consumer packaged goods industry is also projected to intensify the growth of polyethylene terephthalate (PET) market in near future.
Global polyethylene terephthalate (PET) market is anticipated to mask a notable CAGR of 9.3% during the forecast period i.e. 2015-2021. Additionally, the market is riding on the back of growing packaging industry along with rising adoption of environmental friendly packaging. Moreover, the global polyethylene terephthalate (PET) market is anticipated to account noteworthy revenue by 2021.
The packaging segment by industry is anticipated to account a considerable CAGR by the end of 2021. This growth of packaging segment is attributed to the rising adoption of carbonated soft drinks packaging and increase in consumption of frozen and processed food. In terms of geography, Asia-Pacific accounted for the largest share of global polyethylene terephthalate (PET) market in 2014 due to presence of emerging economies such as China and India. Apart from this, with 23% share, North America regions accounted for second largest market of polyethylene terephthalate (PET) in 2014.
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In 2015, Reliance Industries Ltd. had announced the authorization of production of PET resin plant of 650 KTA capacity and purified terephthalic acid (PTA) capacity of 1,150 KTA in Gujarat. This factor is believed to flourish the growth of polyethylene terephthalate (PET) market during the forecast period.
Increasing demand for Eco-friendly Packaging
Growing to adoption of polyethylene terephthalate (PET) on the back of recyclable property along with rising environmental concerns is anticipated to be the dynamic factor behind the growth of polyethylene terephthalate (PET) market. Furthermore, un-breakable capability, and light for on-the-go use are some of the factors propelling the market of polyethylene terephthalate (PET) across the globe. On the contrary, sustainability concerns regarding PET packaging is believed to be the major factor hampering the Global Polyethylene Terephthalate (PET) Market.
The report titled “Global Polyethylene Terephthalate (PET) Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global polyethylene Terephthalate (PET) market in terms of market segmentation by product type, by industry, by application and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global polyethylene Terephthalate (PET) market which includes company profiling of RTP Company, BASF, DuPont, DSM, SRF Plastics, M&G Group, Indorama Ventures, PET Processors LLC., Lanxess Corporation, Nan Ya Plastics, and Lyondell Basell Industries N.V. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global polyethylene Terephthalate (PET) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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