Crystalline Polyethylene Terepthalate Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Crystalline Polyethylene Terepthalate Market Analysis
The market for Crystalline Polyethylene Terephthalate is expected to grow at a CAGR of over 4% globally during the forecast period. Major factors driving the market studied are increasing demand from the food & beverage industry. On the flip side, stringent environmental regulations and unfavorable conditions arising due to the COVID-19 outbreak are expected to hinder the growth of the market studied.
- Increasing demand owing to the wide range of applications in the food & beverage industry is expected to drive market growth during the forecast period.
- Asia-Pacific region is expected to dominate the market across the globe with the largest consumption coming from countries such as China, Japan, and India.
Crystalline Polyethylene Terepthalate Market Trends
This section covers the major market trends shaping the Crystalline Polyethylene Terepthalate Market according to our research experts:
Increasing Demand from the Food & Beverage Industry
- Crystalline polyethylene terephthalate (C-PET) is a product of the polyester family. When PET is held in the stretched form at elevated temperatures, it slowly crystallizes and starts to become opaque, more rigid and less flexible.
- In the food & beverage industry, the C-PET application is seen in take-home, prepared-food containers, and trays that can be reheated in the oven or microwave.
- Additionally, C-PET also finds its application in bottles made for carbonated soft drinks, alcoholic beverages, and other edibles.
- C-PET is generally opaque and their thickness range is much higher as to withstand extreme applications.
- C-PET has superior properties like outstanding high temperatures and is less tensile due to which its application in food & beverage industry has been increasing.
- Hence, owing to the growing application of C-PET in food & beverage industry especially in Asia-Pacific region, the demand for Crystalline Polyethylene Terephthalate Market is expected to increase over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for C-PET during the forecast period. Due to the high demand from countries like China, India, and Japan the market for C-PET has been rapidly increasing in the region.
- The largest producers of C-PET are located in the Asia-Pacific region. Some of the leading companies involved in the production of C-PET in the region are - NOVAPET, SABIC, PolyQuest, Indorama Ventures Public Company Limited, and Mitsubishi Chemical Advanced Materials.
- Apart from the food and beverage industry, the pharmaceutical industry majorly finds the application of C-PET in making sterilizing equipment like trays, lids, blood bottles, beakers, and other equipment that are extensively used.
- In India, about 296 cold chain projects in food processing have been approved in 2019, hence increasing the scope of application of C-PET.
- Chinese pharmaceutical industry which is valued at about ~USD 145 billion currently, represents the biggest emerging market with growth tipped to reach about ~USD 200 billion by 2022, thus increasing the scope of application of C-PET.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for Crystalline Polyethylene Terephthalate market during the forecast period.
Crystalline Polyethylene Terepthalate Industry Overview
The global Crystalline Polyethylene Terephthalate market is fragmented, with players accounting for a marginal share in the market. Some of the major companies include NOVAPET, SABIC, PolyQuest, Indorama Ventures Public Company Limited and TEIJIN LIMITED.
Crystalline Polyethylene Terepthalate Market Leaders
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NOVAPET
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SABIC
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Indorama Ventures Public Company Limited
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PolyQuest
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TEIJIN LIMITED
*Disclaimer: Major Players sorted in no particular order
Crystalline Polyethylene Terepthalate Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Demand from the Food & Beverage Industry
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Stringent Environmental Regulations
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4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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4.5 Feedstock Analysis
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4.6 Technological Snapshot
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5. MARKET SEGMENTATION
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5.1 Application
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5.1.1 Trays
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5.1.2 Cups
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5.1.3 Films/Sheets
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5.1.4 Bottles
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5.1.5 Others
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5.2 End-user Industry
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5.2.1 Food & Beverage
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5.2.2 Pharmaceutical
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5.2.3 Others
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 France
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5.3.3.4 Italy
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share (%)**/Ranking Analysis
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 ETIMEX PRIMARY PACKAGING
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6.4.2 Indorama Ventures Public Company Limited
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6.4.3 JBF Industries Ltd
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6.4.4 Mitsubishi Chemical Advanced Materials group of companies
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6.4.5 NOVAPET
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6.4.6 OCTAL
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6.4.7 PolyQuest
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6.4.8 SABIC
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6.4.9 TEIJIN LIMITED
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6.4.10 Zhejiang Hengyi Group Co., Ltd
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Crystalline Polyethylene Terepthalate Industry Segmentation
The Crystalline Polyethylene Terephthalate Market report includes:
| Application | |
| Trays | |
| Cups | |
| Films/Sheets | |
| Bottles | |
| Others |
| End-user Industry | |
| Food & Beverage | |
| Pharmaceutical | |
| Others |
| Geography | |||||||
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Crystalline Polyethylene Terepthalate Market Research FAQs
What is the current Crystalline Polyethylene Terephthalate Market size?
The Crystalline Polyethylene Terephthalate Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Crystalline Polyethylene Terephthalate Market?
NOVAPET, SABIC , Indorama Ventures Public Company Limited, PolyQuest and TEIJIN LIMITED are the major companies operating in the Crystalline Polyethylene Terephthalate Market.
Which is the fastest growing region in Crystalline Polyethylene Terephthalate Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Crystalline Polyethylene Terephthalate Market?
In 2024, the Asia Pacific accounts for the largest market share in Crystalline Polyethylene Terephthalate Market.
What years does this Crystalline Polyethylene Terephthalate Market cover?
The report covers the Crystalline Polyethylene Terephthalate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Crystalline Polyethylene Terephthalate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Crystalline Polyethylene Terephthalate Industry Report
Statistics for the 2024 Crystalline Polyethylene Terephthalate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Crystalline Polyethylene Terephthalate analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
