Global PET Resin
Market Report
2024
The global PET Resin market was valued at USD 39.4 billion in 2022 and is projected to reach USD 73.5 billion by 2030, registering a CAGR of 8.1% for the forecast period 2023- 2030
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global PET Resin market was valued at USD 39.4 billion in 2022 and is projected to reach USD 73.5 billion by 2030, registering a CAGR of 8.1% for the forecast period 2023- 2030
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global PET Resin Market Sales Revenue 2022 | $ 39.4 Billion |
Global PET Resin Market Sales Revenue 2030 | $ 73.5 Billion |
Global PET Resin Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.1% |
Market Split by Type |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of PET Resin industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
PET Resin Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
PET stands for polyethylene terephthalate and is a form of polyester-like clothing fabric. The PET is molded and extruded into plastic bottles, and containers. The PET resin is used for packaging bottles, personal products, food and beverages, and other consumer products. The PET resin offers high strength, and stiffness, is lightweight to use in transportation, and acts as a barrier for moisture, and electrical insulation. It is recyclable and safe for food and beverage application.
The global PET resin market is fuelled by the rising consumption of plastic bottles across the globe. The increase in consumption of plastic bottles compelled manufacturers to produce good quality, and recyclable plastic, to ensure environmental sustainability across the globe. The National Renewable Energy Laboratory in the US states that more than 82 billion polyethylene terephthalate (PET) materials are produced each year for packaging bottles, single-use beverages, and others. Thus, the rise in consumption of PET for industrial packaging, food and beverage, and other sectors, boosts the demand for PET resins. The food and beverage and other industrial sectors prefer PET materials for manufacturing and packaging. For instance, PETRA prefers polyethylene terephthalate as a packaging material for packaging foods & beverages, soft drinks, juices, and water, owing to its resistance to microbes, chemicals, and moisture. PET resin is increasingly consumed for making bottles. According to NCL Innovations (a division of the CSIR-National Chemical Laboratory, around 96% of PET resin is used for making bottles. Thus, the rising consumption of PET resin drives the global PET resin market.
The FSSAI guidelines have set several standards for the use of recycled PET for food and beverage application. The European Commission rejected requests by the bottled water sector to reserve recovered PET bottles in priority for recycling into new food-grade plastics, claiming that doing so ran the danger of distorting the market for secondary materials. The other regulation for recycling of PET includes that the food-grade PET recycling process should not have a decontamination level above 220ug//kg for its use in food and beverage applications, in order to maintain the safety and health of consumers. Furthermore, the EU directive on single-use plastic set standards for the percentage of recycled PET in all PET bottles to increase to 25 % by 2025 and 30% by 2030. The use of colorants and additives during the production of PET packaging, restraints the recyclability of PET. Thus, the stringent regulation set for recycling PET, restraints the growth of the global PET resin market.
The global PET resin market during the pandemic had a moderately negative impact, due to fluctuation in the demand for resin. The unprecedented cases of COVID-19 resulted in high resin inventories, due to disruption in supply-chain. The temporary halt in production at a manufacturing facility disrupted the resin market. Disruption and fluctuation in the resin market had a slightly negative impact on the growth of the PET resin market. Moreover, on the other side, the demand for PET resin for packaging was high during the pandemic. The PET resin was used for single-use packaging in food and beverage. This factor positively impacted the growth of the market.
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The key market players included in the report are Indorama, Sumilon Group, TEIJIN LIMITED, OCTAL, Iwatani Corporation, SASA Polyester Industry Inc., DAK Americas LLC, and Others
These companies have done R&D investments in the recycling of PET bottles to expand the use of PET resin for the end-user sector. The companies also engaged in partnerships to expand the presence of PET resin in emerging markets.
TEIJIN LIMITED has engaged in collaboration with Mitsui Chemicals for the integration of the PET resin operation, which expanded the PET resin operation and accelerated opportunities for the growth of the market.
Top Companies Market Share in PET Resin Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
The Asia Pacific dominated the global PET resin market, owing to an increase in demand for recyclable plastic materials across several end-user sectors in Asia Pacific. Japan has high per capita plastic consumption, owing to the presence of cutting-edge plastic waste management, advanced infrastructure, and policies for recycling plastics. The consumption of PET bottles is ~USD 23.2 billion bottles per year in Japan. The recycling rate of PET bottles is 85.8% in Japan (Source: PLASTIC ATLAS ASIA 2022.) Thus, the high demand for recycling PET plastic increases its demand in the Asia Pacific. Furthermore, PET material is used for the manufacturing of automotive parts such as wiper arms, and, engine cover, connector housing, and others. China is a major country in the manufacturing of automotive components, boosting the demand for PET automotive films in the Asia Pacific. Overall, the demand for recycled plastic materials and the increase in per-capita consumption of recycled PET boosts the growth of PET resin in the end-user sector.
The current report Scope analyzes PET Resin Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global PET Resin Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing PET Resin Industry growth. PET Resin market has been segmented with the help of its Type, End User , and others. PET Resin market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Quality management is the major parameter to meet specific standards and specifications, reliability and consistency. The chemical and material industry is full of various types of chemicals and it is necessary to focus on quality management because it may affect environment & other equipment. Raw materials plays an important role in this industry. The chemical industry converts these raw materials into primary, secondary, and tertiary products. Fluctuations in raw material prices may impact the market growth in the near future. This study includes the revenue generation of each type in each region for the year 2019 to 2031. Additionally it also provides detailed supply chain analysis along with current trends in the market which are expected to propel the market growth in the coming year.
Type of PET Resin analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of PET Resin Industry. Request a Free Sample PDF!
Packaging accounts for a significant share of the global PET resin market due to the increasing demand for PET resin for packaging food and beverages. The manufacturer adopted the use of PET resin for food and beverage packaging. According to the Indorama Corporation, the demand for PET resin is more than 20 billion tons a year. The high preference for the use of PET resin in food and beverage packaging increases its demand across the globe. Polyethylene terephthalate (PET) packaging accounts for ~44.7% share 2021 of single-serve beverage packaging in the US. Major beverage manufacturer reduces their environmental footprint by using PET for packaging owing to its properties such as eco-friendly, safe, and resistant to moisture and microbes. These properties increase its usage in the food and beverage sector. (Source: U.S. Department of Health and Human Services). Thus, the high preference for the use of PET resin in food and beverage boosts the packaging segment across the globe.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the PET Resin market report 2024 Edition by contacting our team.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global PET Resin Market is witnessing significant growth in the near future.
In 2023, the Bottles segment accounted for noticeable share of global PET Resin Market and is projected to experience significant growth in the near future.
The Packaging segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Alpek S.A.B. de C.V. , JBF Industries Ltd and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | Bottles, Films, Sheets, Cups, Cans, Pouches, Others |
End User | Packaging, Electrical & Electronics, Automotive, Food & Beverage, Others |
List of Competitors | Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, JBF Industries Ltd, LOTTE Chemical CORPORATION, Far Eastern New Century Corporation, China Petrochemical Corporation., SABIC, Reliance Industries Limited., RTP Company, Vikas Ecotech Ltd., TEIJIN LIMITED, Hitachi Ltd., NEO GROUP, UAB, DuPont de Nemours Inc, Filatex India Limited, Polyplex, Retal Industries LTD., Persian Gulf Petrochemical Industries Co., the Mitsubishi Chemical Advanced Materials group of companies, Verdeco Recycling |
This chapter will help you gain GLOBAL Market Analysis of PET Resin. Further deep in this chapter, you will be able to review Global PET Resin Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America PET Resin Market Trends North America PET Resin Technological Road Map North America PET Resin Market Drivers North America PET Resin Market Restraints North America PET Resin Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global PET Resin market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Bottles have a significant impact on PET Resin market? |
What are the key factors affecting the Bottles and Films of PET Resin Market? |
What is the CAGR/Growth Rate of Packaging during the forecast period? |
By type, which segment accounted for largest share of the global PET Resin Market? |
Which region is expected to dominate the global PET Resin Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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