Published Date : Mar 06, 2017
ALBANY, New York, March 6, 2017 : MarketResearchReports.biz has recently added the report titled, “Global Polyethylene Terephthalate Market 2017-2021” to its offering. The report evaluates the key growth opportunities, trends, growth drivers, and restraints prevailing in the market. It also includes detailed discussions on value chain reports, competitive landscape, market attractiveness, and supply and demand dynamics.
The report leverages Porter’s Five Force reports in order to gauge the level of competition between the key market players. The market shares and product portfolios of the major companies operating in the global polyethylene terephthalate market have also been covered in the report.
The global polyethylene terephthalate market is primarily driven by the increasing demand for recyclable and sustainable material. As a material used in packaging, polyethylene terephthalate boasts advantages such as strength, recyclability, and versatility. As a result, an increasing number of vendors have been preferring this material. The growth prospects are slated to expand further as demand from numerous application industries such as food and beverage, automotive, and electronics increases.
Moreover, polyethylene terephthalate utilizes lesser space to accommodate more quantity of products, apart from reducing the overall weight of the package. As these properties bring down the costs of transportation and handling to a significant extent, the market for polyethylene terephthalate is expected to soar.
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Polyethylene terephthalate, being a petroleum-based product, causes less harm to the environment than glass, aluminum, and other packaging materials. The emergence of bio-based polyethylene terephthalate products is expected to present substantial opportunities over the forecast period.
Based on geography, the global market for polyethylene terephthalate has been segmented into Europe, the Middle East, and Africa (EMEA), the Americas, and APAC. The APAC accounted for the maximum share in the global market in 2016. This region is expected to retain its prominence over the next few years due to the escalating demand for packaging in the carbonated soft drinks and alcoholic drinks industries.
Increasing beverage consumption in India and China is an important growth driver for the global polyethylene terephthalate market. India’s vast population base, growing demand for packaged goods, and large-scale industrial development have been driving the market in this region. The market in China is expected to contribute significantly to the growth of APAC due to the low costs of operation coupled with extended production capacities. Apart from these regions, Russia and Brazil are poised for significant growth.
Some of the major companies operating in the global polyethylene terephthalate market are FENC, SABIC, Jiangsu Sanfangxiang, DuPont, M&G Chemicals, Indorama Ventures, NEOGROUP, DAK Americas, Seda De Barcelona, Covestro, and Quadrant.
The market for polyethylene terephthalate appears to be somewhat fragmented in terms of competition, owing to the existence of a number of market players on global as well as regional levels. Product development has been one of the major areas of focus among the leading market players.
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