Overview and Scope
Polyethylene terephthalate is a strong, rigid synthetic fiber and resin belonging to the polyester family of polymers and formed by the polymerization of ethylene glycol with terephthalic acid. Polybutylene terephthalate (PBT) resin is a crystalline synthetic resin formed by the polymerization of butanediol and terephthalic acid. Polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resins are used in the manufacture of lightweight plastic for packaging foods and beverages, and soft drinks.
Sizing and Forecast
The polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market size has grown rapidly in recent years. It will grow from <b>$44.17 billion in 2023 to $48.93 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. </b> 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 <b>$73.47 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. </b> 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
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Segmentation & Regional Insights
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
<b>Asia-Pacific</b> was the largest region in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market in 2023. <b>North America</b> was the second-largest region in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market. The regions covered in the polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the polyethylene terephthalate (pet) and polybutylene terephthalate (pbt) resins market include <b> 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, Reliance Industries Limited, Far Eastern New Century Corporation, RTP Company Inc., Kolon Plastics Inc., Celanese Corporation, Distrupol Ltd., Indorama Ventures Limited, Alpek, Lanxess Corporation, LyondellBasell Industries N.V., Eastman Chemical Company, Formosa Plastics Group, JBF Industries Ltd., Grupo Kimex S.A. de C.V., Polyplex Corporation Ltd., Chang Chun Group, Hengli Group Co. Ltd., Wuxi Xingsheng New Material Technology Co.Ltd., China National BlueStar (Group) Co Ltd., Covestro AG, Celanese Corporation, Royal DSM N.V., DowDuPont Inc. </b>
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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