What is Global Polyethylene Terephthalate (PET) Market?
The Global Polyethylene Terephthalate (PET) Market is a vast and dynamic sector that encompasses a wide range of products and applications. Polyethylene Terephthalate, commonly known as PET, is a type of plastic that is widely used in various industries due to its versatile properties such as strength, durability, and resistance to water and most chemicals. The global PET market is a significant segment of the overall plastic industry, contributing significantly to its growth and development. The market is driven by the increasing demand for PET products in various end-use industries such as packaging, textiles, automotive, and electronics, among others. The market's value was estimated at US$ 46890 million in 2022, and it is projected to reach US$ 61910 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period 2023-2029. The market is dominated by the top five manufacturers, who collectively hold a market share of about 40%. Geographically, Asia is the largest market for PET, accounting for over 70% of the global market share. This is followed by Europe and North America, each holding over 20% of the market share.
PET Filament, PET Staple, PET Chips in the Global Polyethylene Terephthalate (PET) Market:
The Global Polyethylene Terephthalate (PET) Market is segmented into various products such as PET Filament, PET Staple, and PET Chips. PET Filament is a type of synthetic fiber that is widely used in the textile industry for making fabrics and garments. It is known for its high tensile strength, durability, and resistance to wrinkles and shrinkage. PET Staple, on the other hand, is a type of short fiber that is used in the production of non-woven fabrics, filling materials, and insulation materials. PET Chips, also known as PET granules, are the raw material used in the production of PET products. They are produced by the polymerization of ethylene glycol and terephthalic acid, the two main ingredients of PET. The demand for these products is driven by their wide range of applications in various industries such as textiles, packaging, automotive, and electronics, among others.
Polyester Fiber, Container, Film Products, Others in the Global Polyethylene Terephthalate (PET) Market:
The Global Polyethylene Terephthalate (PET) Market finds its usage in various areas such as Polyester Fiber, Container, Film Products, and Others. Polyester Fiber is a type of synthetic fiber that is made from PET. It is widely used in the textile industry for making fabrics and garments due to its high strength, durability, and resistance to wrinkles and shrinkage. Containers made from PET are used in the packaging industry for storing and transporting various products such as food, beverages, pharmaceuticals, and cosmetics, among others. They are preferred for their lightweight, strength, and resistance to impact, moisture, and most chemicals. Film Products made from PET are used in various applications such as packaging, labeling, and protective films. They are known for their high transparency, gloss, and resistance to water and most chemicals. Other applications of PET include its use in the automotive industry for making parts and components, and in the electronics industry for making casings and insulators, among others.
Global Polyethylene Terephthalate (PET) Market Outlook:
The global Polyethylene Terephthalate (PET) market has shown a promising growth trajectory, with its value standing at US$ 46890 million in 2022. The market is projected to reach a value of US$ 61910 million by 2029, indicating a steady Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period of 2023-2029. The market is largely dominated by the top five manufacturers, who collectively account for about 40% of the market share. In terms of geographical distribution, Asia holds the lion's share of the market, accounting for over 70% of the global market. Europe and North America follow suit, each holding over 20% of the market share. These figures underscore the significant role of the PET market in the global economy and its potential for future growth.
| Report Metric | Details |
| Report Name | Polyethylene Terephthalate (PET) Market |
| Accounted market size in 2023 | US$ 48930 million |
| Forecasted market size in 2029 | US$ 61910 million |
| CAGR | 4.0 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Tongkun Group, Xin Feng Ming Group, Zhejiang Hengyi, Indorama Ventures, Alpek, FENC, Reliance Industries, Sheng Hong Group, Hengli Group, Billion Industrial, Rongsheng Petrochemical, Sanfangxiang Group, Sinopec Yizheng, Since CR Chemicals, JBF, Octal, NanYa, Wankai New Materials, Dhunseri Petrochem & Tea, SABIC, NEO GROUP, Lotte Chemical, Toray, KoKsan, Sibur (Polief), Advansa |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
