Polyethylene Terephthalate (Pet) Packaging Market Global Trends, Market Share

Polyethylene Terephthalate (PET) Packaging Market Introduction

Global Polyethylene Terephthalate (Pet) Packaging Market is predicted to value over US $ 3 billion by 2026, and register a CAGR of 5.9% during the forecast period 2019 to 2026.

Polyethylene Terephthalate (PET), is a polyester that is shaped or expelled into plastic boxes or jugs for food and refreshments packaging, personal care items and many more. It is terephthalic corrosive and an ethylene glycol polymer. PET pellets are heated to liquid form which can be expelled into any shape effortlessly. It was first used in the U.S. PET is non-receptive, solid yet lightweight, shatterproof and sparing which makes it an exceptional building material.

Polyethylene Terephthalate (PET) Packaging Market Overview

PET packaging is a cost-effective method and proven safe by FDA for packaging food, beverages, pharmaceutical & medical devices. It is further supported by extensive research activities led to robust growth of the market. Because of unique features of PET packaging, it is most preferable method of packaging in consumer segment. Rising demand of PET packaging to increase the product protection led to robust growth of the market. It increases the visibility of the product and improves brand perception among the general population. They also improve aesthetics of the product and have huge application in pharmaceuticals and food sectors which led to robust growth. Additionally, rapid advancement of technologies led to developed of fully automated process with multiple modalities and improved operational efficiencies.

North America accounts major shareholder in global market due to high concentration of manufacturers. Europe is second major stakeholder due to high adoption of PET packaging end-user segment. The Asia Pacific and Latin America regions created huge potential opportunistic space for manufacturers due to a large number of manufacturers of pharmaceuticals and food products. They are expected to witness a highest growth rate in global barrier packaging. The Asia Pacific is majorly dominated by domestic manufacturers. Rest of world is expected to account significant share due to increasing adoption.

Polyethylene Terephthalate (PET) Packaging market players include Celanese, Invista, DAK Americas, Mitsui Chemicals, DuPont, Sabic and others

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Polyethylene Terephthalate (PET) Packaging Market Segmentation

By Packaging Type

+ Rigid Packaging

+ Flexible Packaging

By End User

+ Food & Beverage

+ Pharmaceutical

+ Personal Care & Cosmetic

+ Agrochemicals

+ Dairy

By Region

+ North America

+ Latin America

+ Europe

+ Asia Pacific

+ Rest of the World

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Competitive Landscape:  
•    Tier 1 players- established companies in the market with a major market share
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  

•        FutureWise Key Takeaways 
  •    Growth prospects
  •    SWOT analysis 
  •    Key trends 
  •    Key data-points affecting market growth 
•        Objectives of the Study: 
•        •    To provide with an exhaustive analysis on the global Polyethylene Terephthalate (Pet) Packaging Market by Packaging, by End-User, and by Region
•        •    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  •    To evaluate and forecast micro-markets and the overall market 
  •    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
  •    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  •    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  

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About This Author

Akash DADHICH Joined: September 17th, 2019