Global PET market estimated to reach US$48.4 bln in 2016

29-Nov-12

The global PET market was estimated to be worth US$23.3 bln in 2010 and is expected to reach US$48.4 bln in 2016, growing at a CAGR of 9.6% from 2011 to 2016, as per Transparency Market Research. In the overall global market, Asia Pacific is expected to maintain its leading position in terms PET demand over the next five years. Demand for PET is primarily being driven by increasing application in CSD packaging as well as rising consumption of packaged, frozen and other processed foods. Largest PET applications include packaging of CSD and bottled water, alcoholic and hot beverages, sheet/films and food. The PET value chain market has been further segmented under two markets, polyethylene terephthalate (PET) and ethylene. Over the last decade demand PET has increased considerably due to growing demand from food and beverages industry. Ethylene market is segmented on the basis of its application as polyethylene, ethylene oxide, and ethylene dichloride and ethyl benzene. The market for ethylene was estimated to be worth US$140.4 bln in 2010 and it is expected to reach US$54.5 bln in 2016.