Global Polyethylene Terephthalate market is estimated to grow with approx.6.81% CAGR during the year 2018–2026. The base year considered for the study is 2017 and the forecast period is 2018-2026. Global Polyethylene Terephthalate market is primarily driven by the following factors:

• Increase in demand for bottled water
• Rise in the consumption of ready-to-eat food products
• Fully recyclable
• Innovation in packaging through weight reduction
• Technological advancement

The important factor increasing growth in the Global Polyethylene Terephthalate Market is its feature of being fully recyclable. PET is the most recycled plastic in the world. More than 1.5 billion pounds of used PET bottles and containers are recovered in the United States each year for recycling. PET can easily be identified by the #1 in the triangular “chasing arrows” code, which is usually found moulded into the bottom or side of the container. No other plastic carries the #1 code.
PET can be commercially recycled thorough washing and re-melting, or by chemically breaking it down to its component materials to make new PET resin. Almost every municipal recycling program in North America and Europe accepts PET containers. Products commonly made from recycled PET include new PET bottles and jars, carpet, clothing, industrial strapping, rope, automotive parts, fiberfill for winter jackets and sleeping bags, construction materials, and protective packaging.

PET plastic bottles are a popular choice for packaging soft drinks due to the numerous benefits they provide, both to the manufacturers and consumers. 70% of soft drinks (carbonated drinks, still and dilutable drinks, fruit juices and bottled water), are now packaged in PET plastic bottles – the rest comes mainly in glass bottles, metal cans and cartons. Glass bottles are less preferred by consumers due to the danger of breakage. The risk is even higher in the case of children and the elderly. Additionally, the cost of manufacturing glass containers is 20%-30% higher than that of PET bottles. The large quantity of raw materials required for making glass bottles and the high cost of shipping glass due to its heavy weight are the main cause behind the higher manufacturing cost of glass containers.

Stringent rules and regulations and low PET recycling rates due to high contamination are the major factors hindering the Polyethylene Terephthalate market. Vendors in the Global PET market face difficulties in complying with the stringent rules and regulations imposed by various authorities in the countries they operate in. These regulations pertain to the entry of new players and the launch of new products. The number of regulations in some countries is minimal, while in other countries, it is increasing considerably. In some countries, the regulations are lenient, while in other countries such as the US they are stringent. Contamination of PET containers and bottles is caused by labels used on the surface of the bottles. The two labels that cause contamination and hinder the recyclability of PET containers are pressure-sensitive labels and shrink sleeve labels.

The Global Polyethylene Terephthalate market is segmented by applications.

• Bottles
• Films & sheets
• Packaging
• Others

Geographically, the Global Polyethylene Terephthalate market has been segmented on the basis of four major regions, which includes:

• Polyethylene Terephthalate North America Market – U.S. & Canada
• Polyethylene Terephthalate Asia Pacific Market – China, India, Japan, South Korea, Australia, RoAPAC
• Polyethylene Terephthalate Europe Market – UK, France, Germany, Italy, Spain, RoE
• Rest of World – Latin America, MENA, Africa

Asia Pacific is anticipated to account for the largest market share during the forecast period due to the increasing demand for bottled water. The growing demand for bottled water in the region can be mainly attributed to the lack of quality tap water, the growing awareness of health concerns and benefits among people, and an increase in the number of international tourist visits. Premiumization is another factor that is driving the PET market in APAC. Consumers are looking for products that have high quality and added benefits. Several bottle manufacturers switched from HDPE bottles to PET bottles because PET bottles are considered to be healthier and offer more clarity and transparency as compared to other forms of packaging. On the other hand, Europe is anticipated to be the fastest-growing region for the Polyethylene Terephthalate market. PET containers are widely used in the European packaging industry as they are strong, can withstand high pressures, and do not break when dropped. PET bottles also have gas barrier properties that are suitable for packing of effervescent and sparkling drinks.

The Polyethylene Terephthalate Market is segmented on the basis of applications which are sub-divided into bottles, films & sheets, packaging, and others. 

The major market players in the Global Polyethylene Terephthalate market are:

• BASF SE
• DIAB GROUP
• DSM
• INDORAMA VENTURES PUBLIC COMPANY LIMITED
• RTP COMPANY
• OTHERS

Company Profiles covers analysis of important players

These companies are using organic and inorganic strategies for growth. For instance, on 19th September 2017, BASF and Solvay signed an agreement related to the sale of Solvay’s integrated polyamide business to BASF. The acquisition would complement BASF’s engineering plastics portfolio and expand the company’s position as a solution provider for the transportation, construction, industrial applications and consumer industries. Regionally, the transaction would enhance access to key growth markets in Asia and South America. At the same time, the purchase would strengthen BASF’s polyamide 6.6 value chain through increased polymerization capacities and the backward integration into the key raw material ADN (adipodinitrile). On 4th April 2018, Unilever announced a partnership with start-up company Ioniqa & the largest global producer of PET resin, Indorama Ventures, to pioneer a new technology which converts PET waste back into virgin grade material for use in food packaging.

Key Findings of the Global Polyethylene Terephthalate market.

• Fully recyclable and increase in demand for bottled water is fueling growth in the Global Polyethylene Terephthalate market.
• Asia Pacific accounted the largest revenue share in 2017.
• Bottles segment is dominating the market due to growing adoption of bottled water
• Increasing government support
• Product launch is the key strategy adopted by various market players of the Global Polyethylene Terephthalate market.