The polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resins market is growing exponentially. The market size will rise from $48.62 billion in 2024 to reach $53.71 billion in 2025 with a compound annual growth rate (CAGR) of 10.5%. Growth in the past years has been driven by growth in packaging and bottling industries, increased demand for lightweight and recyclable materials, expansion of automotive and electrical sectors, and development of high-performance resins.
This growth is expected to continue with market size projected to reach $82.63 billion in 2029 at a CAGR of 11.4%. Factors contributing to this acceleration include sustainable and eco-friendly resin formulations, growth in electric vehicle production, advancements in resin solutions, increasing demand for impact-resistant and flame-retardant resins, and industry expansion into renewable energy applications.
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What Factors are Driving the PET and PBT Resins Market?
An increase in demand for polyethylene terephthalate (PET) in the packaging sector is a major driving force in the growth of the PET and PBT resins market. The packaging industry’s affinity for PET’s unique properties such as clarity, durability, chemical inertness, and light weight, make it ideal for packaging products. In May 2023, Mexico’s international acquisitions of plastic resins amounted to USD 41.52 billion, creating promising opportunities for foreign suppliers to trade their products with OEMs.
What Are the Main Market Segments?
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
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Who are the Key Players in the PET and PBT Resins Market?
Major companies operating in the PET and PBT resin market include Saudi Basic Industries Corporation, BASF SE, Indorama Ventures Limited, Mitsubishi Chemical Corporation, Toray Industries Inc., Koninklijke DSM N.V., Jiangsu Sanfangxiang Group Co.Ltd., M&G Chemicals SA, DowDuPont Inc., Nan Ya Plastics Corporation, and more.
What New Trends are Emerging in the PET and PBT Resins Market?
The development of new and innovative products with lower carbon footprints is a key emerging trend in the PET and PBT resin market. For instance, in May 2022, SABIC launched LNP ELCRIN WF0061BiQ PBT resin, produced from chemically upcycled ocean-bound PET bottles. This compound potentially reduces CO2 emissions by up to 14% and energy demand by up to 25%.
What is the Regional Market Landscape?
Asia-Pacific was the most significant region in the PET and PBT resins market in 2024, followed by North America. The report covers regional market details for Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market Report 2025 Offer?
The Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Market research report presents global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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