Polyethylene Teraphtalate market in North America to be driven by beverage bottles

27-Jan-16

Replacement of traditional packaging applications and reduced atmospheric emissions are the reasons for increase in the demand of Polyethylene Terephthalate (PET) market, as per Research and Markets. 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. Polyethylene terephthalate (PET) are used in an increasing number of markets - from Packaging, Automotive, Electrical & electronics, Consumer Appliances and others. The key drivers of PET industry are population growth, rise in disposable income, urbanization in developing economies, and growing fast moving consumer goods, and restraint such as being a capital and technology intensive industry. Demand for PET is rising with polyester and food and beverages industries determining market behavior. The market is and will be characterized by excessive capacity bringing it to oversupply. The influence of PET performs sector is decreasing as packaging industry witnesses change to lighter-weighted bottles and carbonated drinks consumption decline (especially in North America), besides the share of recycled material application is growing