Market Size of Middle-East and Africa Polyethylene Terephthalate (PET) Resin Industry
| 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_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
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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 |
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.
Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Food and Beverage Industry
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1.1.2 Increasing Emphasis on Recycling
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1.2 Restraints
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1.2.1 Increasing Usage of Substitute Products
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Product Type
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2.1.1 Bottles
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2.1.2 Films and Sheets
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2.1.3 Other Product Types
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2.2 End-user Industry
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2.2.1 Food and Beverage
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2.2.2 Automotive
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2.2.3 Electrical and Electronics
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2.2.4 Healthcare
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2.2.5 Consumer Goods
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2.2.6 Other End-user Industries
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2.3 Geography
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2.3.1 Saudi Arabia
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2.3.2 South Africa
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2.3.3 United Arab Emirates
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2.3.4 Qatar
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2.3.5 Rest of Middle-East and Africa
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Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market Size FAQs
What is the current Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market size?
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)
Who are the key players in Middle-East and Africa Polyethylene Terephthalate (PET) Resin Market?
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.
