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Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market Size (2024 - 2029)

The Middle East and Africa polyethylene terephthalate (PET) resin market is poised for growth, driven by the rising demand in the automotive sector and the expanding food and beverage industry. Despite challenges such as stringent regulations and competition from alternative products, the market is expected to benefit from an increasing focus on recycling and the adoption of bio-based PET products. Saudi Arabia is anticipated to lead the market, experiencing the most rapid growth in the region.

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Market Size of Middle-East and Africa Polyethylene Terephthalate (PET) Resin Industry

Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 4.50 %
Market Concentration High

Major Players

Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market Major Players

*Disclaimer: Major Players sorted in no particular order

MEA Polyethylene Terephthalate (PET) Resin Market Analysis

The Middle East and Africa polyethylene terephthalate (PET) resin market is expected to reach over 2,990 tons by the end of this year and is estimated to grow at a CAGR of over 4.5% during the forecast period.

COVID-19 impacted negatively the Middle East and Africa polyethylene terephthalate resin market growth. However, the surging demand for PET films in the automotive industry has propelled industry growth.

  • The growing food and beverage industry and increasing emphasis on recycling are expected to drive the market during the forecast period.
  • Stringent regulations regarding the usage of PET and the increasing usage of alternative products may hinder the market growth.
  • Increasing use of bio-based PET products is projected to create future market growth opportunities.
  • Saudi Arabia is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.

MEA Polyethylene Terephthalate (PET) Resin Industry Segmentation

The raw materials used in the production of PET are mono ethylene glycol (MEG), purified terephthalic acid (PTA), and dimethyl terephthalate (DMT). The PET resin is processed to convert into bottles, fibers, films, and sheets, which are then used in various applications for many end-user industries, such as food and beverage, healthcare, consumer appliances, and others. 

The Middle East and Africa polyethylene terephthalate (PET) resin market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into bottles, films and sheets, and other product types. By end-user industry, the market is segmented into food and beverage, automotive, electrical and electronics, healthcare, consumer goods, and other end-user industries. The report also covers the market size and forecasts for the market in four countries across the region (Saudi Arabia, South Africa, United Arab Emirates, Qatar, and the Rest of the Middle East and Africa). For each segment, market sizing and forecasts have been done on the basis of volume (tons).

Product Type
Bottles
Films and Sheets
Other Product Types
End-user Industry
Food and Beverage
Automotive
Electrical and Electronics
Healthcare
Consumer Goods
Other End-user Industries
Geography
Saudi Arabia
South Africa
United Arab Emirates
Qatar
Rest of Middle-East and Africa
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Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market Size Summary

The Middle East and Africa PET resin market is poised for growth, driven by the increasing demand in the food and beverage industry, particularly for packaging applications. PET's advantages, such as being lightweight, shatterproof, and resistant to microbial attacks, make it a preferred choice over traditional materials like glass. The automotive sector's rising need for PET films further propels market expansion. However, the market faces challenges from stringent regulations and the emergence of alternative materials. The emphasis on recycling and the adoption of bio-based PET products present new opportunities for market growth. Saudi Arabia is expected to lead the market, benefiting from its expanding food and beverage sector and strategic economic diversification efforts.

Saudi Arabia's economic diversification initiatives, particularly in non-oil sectors, are fostering growth in the PET resin market. The country's packaging industry is experiencing significant expansion, fueled by increased food manufacturing, processing, and the burgeoning online food delivery services. The healthcare sector's substantial expenditure and the privatization of public hospitals are anticipated to drive demand for PET in medical applications. Key players in the market, such as SABIC and Indorama Ventures, are actively innovating and expanding their offerings, further strengthening the market's competitive landscape. The consolidation of major companies and strategic acquisitions, like Alpek's acquisition of OCTAL Holding, are expected to enhance market dynamics and value-added production capabilities.

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Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Food and Beverage Industry

      2. 1.1.2 Increasing Emphasis on Recycling

    2. 1.2 Restraints

      1. 1.2.1 Increasing Usage of Substitute Products

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Product Type

      1. 2.1.1 Bottles

      2. 2.1.2 Films and Sheets

      3. 2.1.3 Other Product Types

    2. 2.2 End-user Industry

      1. 2.2.1 Food and Beverage

      2. 2.2.2 Automotive

      3. 2.2.3 Electrical and Electronics

      4. 2.2.4 Healthcare

      5. 2.2.5 Consumer Goods

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Saudi Arabia

      2. 2.3.2 South Africa

      3. 2.3.3 United Arab Emirates

      4. 2.3.4 Qatar

      5. 2.3.5 Rest of Middle-East and Africa

Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market Size FAQs

The Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)

SABIC, Indorama Ventures Public Company Limited, BASF SE, Equate Petrochemical Company and Dow are the major companies operating in the Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market.

Middle East & Africa PET Resin Market Report Snapshots

Middle East & Africa PET Resin Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)