The PET market is estimated at 20.98 mln tons in 2014 and is expected to grow at a CAGR of 6.1%, over the next six years to reach 29.93 mln tons by 2020, as per Research and Markets. Asia-Pacific, with its thriving economies and rapidly expanding population, is expected to experience highest growth rate between 2014 and 2020. About 72% of the PET resin demand was from the bottle application, driven by the beverage bottles for mineral water, carbonated soft drinks, ready to drink tea, and functional, dairy, and energy drinks. It is expected that light weight PET bottle trend will continue in future as it is a cost saving measure.
28-Jan-16 
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