Emerging Opportunities In Polyethylene Terephthalate Market To Be Driven By F&B

Emerging opportunities in polyethylene terephthalate market to be driven by F&B

09-Feb-17

Polyethylene terephthalate finds applications across diverse industries such as automotive, food and beverage packaging, electronics among the others. As per Future Market Insights, increasing demand of polyethylene terephthalate from food and beverage sector like in carbonated soft drinks packaging, increase demand for packaged food due to rise in consumption of frozen and processed food, rise in demand for electronics and automotive applications/industries and eco friendly substitution are the most important driving factors in the polyethylene terephthalate market. Also, rapid urbanization, innovative packaging and high economic growth is contribution in increasing the demand for polyethylene terephthalate regardless of the geographical location. Stringent environmental rules and regulations by government and threat of substitutes, are acting as a barrier for polyethylene terephthalate market.

Recently, Reliance Industries have announced to open two petrochemical plants in Dahej, Gujrat, for making polyester plastic and would also commissioned a 650 KTA polyethylene terephthalate (PET) resin capacity and purified terephthalic acid (PTA) plant. It will increase their global capacity share of almost 4% and would also lower the operational cost and achieve full chain margins.

Polyethylene terephthalate market has grown substantially at a healthy CAGR due to an increase use of PET in food and beverages industry. With rapid technological advancement market and increasing demand from end user industries like automotive, packaging and electronics is expected to fuel the growth of the market. Asia Pacific represents the largest market for this product category. China and India will emerge as the fastest growing region for this market.
Asia Pacific is the fastest growing market followed by Europe and North America. This is due to the increasing demand of PET and ethylene from these regions. There’s is a robust demand of PET from Africa and Middle East.