The Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Global Market Report 2024, The polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market size has grown rapidly in recent years. It will grow from $44.17 billion in 2023 to $48.93 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to growth in packaging and bottling industries, demand for lightweight and recyclable materials, expansion of automotive and electrical sectors, development of high-performance resins, regulatory standards for material safety..
The polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market size is expected to see rapid growth in the next few years. It will grow to $73.47 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to sustainable and eco-friendly resin formulations, growth in electric vehicle production, customized resin solutions for specific applications, demand for impact-resistant and flame-retardant resins, expansion in renewable energy applications.. Major trends in the forecast period include bio-based and biodegradable pet and pbt resins, regulatory compliance in resin safety, nanocomposite and reinforced resin materials, smart and self-healing resin technologies, circular economy practices in resin production.
An increase in demand for polyethylene terephthalate (PET) in the packaging sector is expected to propel the growth of the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market going forward. The packaging industry is a business that designs and manufactures packaging products. Polyethylene terephthalate (PET) contains characteristics such as clear, long-lasting, chemically inert, and lightweight, which are suitable for making polyethylene packaging products. For instance, according to the National Renewable Energy Laboratory, a US-based national laboratory, in 2021, over 82 million metric tons of polyethylene terephthalate (PET) were manufactured globally each year to make single-use beverage bottles, packaging, garments, and carpets. Therefore, the increase in demand for PET in the packaging sector drives the growth of the polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market.
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The polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market covered in this report is segmented –
1) By Type: Transparent And Non-Transparent Pet, Recycled Pet
2) By PET Application: Bottles, Films, Food Packaging, Other PET Applications
3) By PBT Application: Electrical And Electronics, Automotive, Consumer Appliances, Other PBT Applications
Product innovations are the key trend gaining popularity in the polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market. Major companies operating in the market are focused on introducing new innovative products with reduced carbon footprints to gain a competitive advantage. For instance, in May 2022, SABIC, a Saudi Arabia-based chemical manufacturing company, launched LNP ELCRIN WF0061BiQ PBT resin, produced from chemically upcycled ocean-bound PET bottles. This compound has the potential to reduce CO2 emissions by up to 14% and cumulative energy demand by up to 25% when compared to glass fiber. It is a potential material for consumer electronics applications such as computer fan housings, vehicle seats, electrical connectors, and enclosures.
The polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market report table of contents includes:
1. Executive Summary
2. Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market Characteristics
3. Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market Trends And Strategies
4. Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market – Macro Economic Scenario
5. Global Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market Size and Growth
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26. South America Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market
27. Brazil Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market
28. Middle East Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market
29. Africa Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market
30. Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market Competitive Landscape And Company Profiles
Top Major Players:
- Saudi Basic Industries Corporation
- BASF SE
- Indorama Ventures Limited
- Mitsubishi Chemical Corporation
- Toray Industries Inc
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