09-Jan-17 Polyethylene terephthalate (PET) is a thermoplastic polymer resin produced by the reaction of raw materials monoethylene glycol (MEG) and purified terephthalic acid (PTA). The material exhibits exceptional barrier properties towards moisture and water and finds applications across diverse industries such as automotive, food and beverage packaging, electronics among the others. Recently, Reliance Industries have announced to open two petrochemical plants in Dahej, Gujarat, 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.
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.
