Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market by PET Resin Application (Bottles, Films, Food packaging, and Others), PBT Resin Application (Automotive, Consumer Appliance, Electronic & Electrical, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026755 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed the US$ 32 billion mark in 2022 and is expected to hit US$ 50 billion by 2030, recording a CAGR of 5.9% during the forecast period.

Polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) Resin market is significantly increasing with rising demand from various application industries   

Increasing demand for PET in the packaging sector, technological advancement in PET packaging sector, rising demand for PBT in the electrical and electronic industry, and increased demand for manufacturing of lightweight vehicles are some of the major factors driving the growth of the market. The bottle segment is expected to hold a significant in the market. The growth is attributed to advantages of conventional packaging have increased the demand for engineering plastic products such as PET containers and bottles in the packaging sector. The film and food packaging segments are also expected to hold a substantial share during the forecast period. 

Within the report, the market is segmented into PET resin application, PBT resin application, and geography. By PET application, the market is further segmented into bottles, films, food packaging, and others. On basis of PBT application, the market is segmented into automotive, consumer appliance, electronic & electrical, and others.  Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Increasing demand for sustainable packaging solution has empowered the market growth

Environmental concerns have increased the demand for environmentally friendly and sustainable packaging solutions, including recycled plastic. This has pushed the market players to develop sustainable and green packaging solutions. They are engaged in investment in research & development of cost-effective and sustainable products. Thus, increased demand for such packaging solutions has surged the demand for polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market during the forecast period.

Rising adoption of highly recyclable plastic resins.

The Polyethylene Terephthalate (PET) are highly recyclable plastic and is one of the widely used recycled plastic across the globe. PET are used in various applications such as sheets and films, automotive parts, sweaters, and others. in addition, manufacturers of consumer goods are adopting use of recyclable plastics in their packaging. In addition, governments are taking initiatives to incorporated recyclable plastics in various industries, thereby propelling the growth of the market.

Recent strategic developments in polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market

The polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market has undergone several significant developments, and a few of these have been mentioned below:

  • In January 2021, SABIC launched two novel polybutylene terephthalate (PBT) compounds, LNP Elcrin WF006XXPiQ and LNP Elcrin WF0061XPiQ.

The polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Indorama Ventures Limited, Mitsubishi Chemical Corporation, SABIC, Alpek, and BASF SE are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Application industry of polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • PET Resin Application:
    • Bottles
    • Films
    • Food packaging
    • Others
  • PBT Resin Application:
    • Automotive
    • Consumer Appliance
    • Electronic & Electrical
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Indorama Ventures Limited
    • Mitsubishi Chemical Corporation
    • SABIC
    • Alpek
    • BASF SE

The List of Companies
- Indorama Ventures Limited
- Mitsubishi Chemical Corporation
- Alpek

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