In the year 2020, the global Polyethylene Terephthalate (PET) Resin Market was estimated at around 80 million tons and it is expected to register a CAGR of 5.2% over the forecast period of 2022-2027.
The growing food and beverage industry, increase in PET collection and recycling rates in Europe, and demand for sustainable and recyclable materials are likely to drive the market's growth. The food industry has been witnessing robust growth in the Asia-Pacific and Middle East and African regions. The rising income levels and the increasing population levels are the primary factors driving the growth of the food industry in these regions. With huge scope for growth in these regions, new investments are being observed in the food and beverage sector, which is intended toward setting up individual confectionery, food processing, and beverage producing facilities. The shift toward flexible packaging and the advent of bio-based PET are likely to act as opportunities for the market's growth in the future. The bottles segment accounted for the largest market share of more than 50%. It is estimated to register a healthy CAGR during the forecast period.
Top Key players in the Polyethylene Terephthalate (PET) Resin Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Polyethylene Terephthalate (PET) Resin Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Indorama Ventures Co. Ltd. (Stuttgart: I93.SG), Alpek, Fennec Pharmaceuticals Inc. (NasdaqCM :FENC), JBF, Octal, Since CR Chemicals, Zhejiang Hengyi, Sinopec Yizheng, Sanfangxiang Group, Rongsheng Petrochemical, Wankai New Materials, Dhunseri Petrochem & Tea, SABIC, Tongkun Group, NEO GROUP, Lotte Chemical, Nan Ya, KoKsan, Sibur and others.
Recent Developments:
January 11, 2022, NN, a Vietnamese PET converter, was proposed to be acquired by Indorama Ventures. The company is now in the process of obtaining shares in NN. The planned acquisition is intended to assist IVL in strengthening its market position in the packaging sector in Asia-Pacific areas with high growth.
January 1, 2020; 100% of the polyethylene terephthalate (PET) production facilities in Wilton, United Kingdom, formerly known as Lotte Chemical UK Limited, have been acquired by a subsidiary of Alpek, S.A.B. de C.V. (Alpek), said the company.
Polyethylene Terephthalate (PET) Resin Market is segmented based on the type, applications, companies and regions.
By Type, Polyethylene Terephthalate (PET) Resin Market has been segmented into
By Application, Polyethylene Terephthalate (PET) Resin Market has been segmented into,
China accounted for more than 15% of the global market and the demand is expected to grow drastically during the forecast period.China is a major producer of PET resins with the PetroChina Group and Jiangsu Sangfangxiang among the global largest manufacturers in terms of volume, with capacities of more than 2 million tons.The use of engineering plastic products in the packaging sector (PET containers, bottles, etc.) is increasing at a tremendous rate, owing to their advantages over the conventional packaging plastics used. The demand from industries like food and beverage, consumer goods, and others for packing materials is increasing in China, owing to the increasing exports, as well as domestic consumption.China's food and beverage consumption has evolved dramatically over the past 40 years, and gradually transformed from an industry-driven to a consumption-driven market. Revenue in the Food & Beverages segment of China is projected to reach USD 176,857 million in 2021 and is expected to show an annual growth rate (CAGR 2021-2025) of over 8 %, resulting in a projected market volume of USD 244,055 million by 2025.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 5.2% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | Indorama Ventures Co. Ltd. (Stuttgart:I93.SG), Alpek, Fennec Pharmaceuticals Inc. (NasdaqCM :FENC), JBF, Octal, Since CR Chemicals, Zhejiang Hengyi, Sinopec Yizheng, Sanfangxiang Group, Rongsheng Petrochemical, Wankai New Materials, Dhunseri Petrochem & Tea, SABIC, Tongkun Group, NEO GROUP, Lotte Chemical, Nan Ya, KoKsan, Sibur and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 124 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Luxury Crystal Ware Market is studied from 2017 - 2027.
What is the growth rate of Luxury Crystal Ware Market?
The Luxury Crystal Ware Market is growing at a CAGR of 5.2% over the next 5 years.
Who are the leading key players in Luxury Crystal Ware Market?
Indorama Ventures Co. Ltd. (Stuttgart:I93.SG), Alpek, Fennec Pharmaceuticals Inc. (NasdaqCM :FENC), JBF, Octal, Since CR Chemicals, Zhejiang Hengyi, Sinopec Yizheng, Sanfangxiang Group, Rongsheng Petrochemical, Wankai New Materials, Dhunseri Petrochem & Tea, SABIC, Tongkun Group, NEO GROUP, Lotte Chemical, Nan Ya, KoKsan, Sibur and others.
What regions regions does this Luxury Crystal Ware Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Luxury Crystal Ware Market?
Bottle Grade PET, Fiber Grade PET, Film Grade PET
What are the significant Applications of Luxury Crystal Ware Market?
Packaging, Textile Industry, Other
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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