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Polyethylene Terephthalate (PET) Market Size, Share & Trends Analysis Report By Type (Virgin and Recycled), By Application (Packaging, Automotive, Construction, Medical, and Others), By Regional Outlook and Forecast, 2023 - 2030

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    Report

  • 273 Pages
  • March 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5949651
The Global Polyethylene Terephthalate (PET) Market size is expected to reach $46.3 billion by 2030, rising at a market growth of 5.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 20,631.9 Kilo Tonnes, experiencing a growth of 3.0% (2019-2022).

Governments and industries in the Asia Pacific region have been working towards sustainable practices, including increased PET recycling. Consequently, the Asia Pacific segment captured $11,603.5 million revenue in the market in 2022. Also, the China market consumed 2,424.16 kilo tonnes of volume in 2022. Environmental concerns and regulations have led to a greater emphasis on recycling in market. This trend can impact the overall market dynamics. Thus, the segment will expand rapidly in the upcoming years.



The beverage sector, spanning water, soft drinks, juices, and alcoholic beverages, stands as a dominant consumer of PET packaging. As beverages are often distributed on a large scale, the reduced weight of PET containers compared to alternative materials lowers shipping costs and environmental impact, making it an economically viable choice. Therefore, owing to these factors, the market will grow rapidly in the upcoming years.

Additionally, the global trends of urbanization and evolving consumer lifestyles are pivotal drivers in the packaging industry, emphasizing the demand for convenient and portable solutions. As per Statistics Canada, in 2021, nearly three in four Canadians (73.7%) lived in one of Canada's large urban centers, up from 73.2% five years earlier. Urbanization often corresponds with a faster-paced lifestyle, where consumers seek convenient and time-efficient solutions.

However, the demand for is intricately tied to the prices of its key raw materials, namely purified terephthalic acid (PTA) and monoethylene glycol (MEG). PET, derived from these feedstocks, is vulnerable to price fluctuations, posing a substantial challenge for manufacturers. The challenge extends beyond the production phase, affecting pricing strategies, supply chain management, and, ultimately, the ability of market players to maintain healthy profit margins.

By Application Analysis

On the basis of application, the market is divided into packaging, automotive, construction, medical, and others. The packaging segment recorded the 69.53% revenue share in the market in 2022. In terms of volume, packaging segment would register 20,219.4 kilo tonnes by 2030. The rise in consumer demand for convenience and on-the-go products has led to an increased consumption of packaged goods.



By Type Analysis

Based on type, the market is segmented into virgin and recycled. In 2022, the recycled segment garnered a 27.0% revenue share in the market. In terms of volume, recycled segment registered 5,330.0 kilo tonnes in 2022. Governments, industries, and organizations worldwide are promoting circular economy models. Utilizing recycled materials supports closing the loop, reducing the need for new raw materials, and minimizing waste.

By Regional Analysis

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured a 25.21% revenue share in the market in 2022. In terms of volume, North America segment utilized 4,928.0 kilo tonnes in 2022. PET is widely used to produce bottles, containers, and other packaging materials. The demand for PET in North America may be influenced by the growth in the food and beverage, personal care, and pharmaceutical industries, which are major consumers of PET packaging.

List of Key Companies Profiled

  • Lanxess AG
  • LOTTE Chemical Corporation (LOTTE Corp.)
  • DuPont de Nemours, Inc.
  • LyondellBasell Industries Holdings B.V.
  • BASF SE
  • Indorama Ventures Public Company Limited (Indorama Resources Ltd.)
  • RTP Company, Inc.
  • SABIC (Saudi Arabian Oil Company)
  • Nan Ya Plastics Corp. (NPC)
  • Koninklijke DSM N.V.

Market Report Segmentation

By Type (Volume, kilo Tonnes, USD Billion, 2019-2030)
  • Virgin
  • Recycled
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
  • Packaging
  • Automotive
  • Construction
  • Medical
  • Others
By Geography (Volume, kilo Tonnes, USD Billion, 2019-2030)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Polyethylene Terephthalate (PET) Market, by Type
1.4.2 Global Polyethylene Terephthalate (PET) Market, by Application
1.4.3 Global Polyethylene Terephthalate (PET) Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. Global Polyethylene Terephthalate (PET) Market by Type
4.1 Global Virgin Market by Region
4.2 Global Recycled Market by Region
Chapter 5. Global Polyethylene Terephthalate (PET) Market by Application
5.1 Global Packaging Market by Region
5.2 Global Automotive Market by Region
5.3 Global Construction Market by Region
5.4 Global Medical Market by Region
5.5 Global Others Market by Region
Chapter 6. Global Polyethylene Terephthalate (PET) Market by Region
6.1 North America Polyethylene Terephthalate (PET) Market
6.1.1 North America Polyethylene Terephthalate (PET) Market by Type
6.1.1.1 North America Virgin Market by Country
6.1.1.2 North America Recycled Market by Country
6.1.2 North America Polyethylene Terephthalate (PET) Market by Application
6.1.2.1 North America Packaging Market by Country
6.1.2.2 North America Automotive Market by Country
6.1.2.3 North America Construction Market by Country
6.1.2.4 North America Medical Market by Country
6.1.2.5 North America Others Market by Country
6.1.3 North America Polyethylene Terephthalate (PET) Market by Country
6.1.3.1 US Polyethylene Terephthalate (PET) Market
6.1.3.1.1 US Polyethylene Terephthalate (PET) Market by Type
6.1.3.1.2 US Polyethylene Terephthalate (PET) Market by Application
6.1.3.2 Canada Polyethylene Terephthalate (PET) Market
6.1.3.2.1 Canada Polyethylene Terephthalate (PET) Market by Type
6.1.3.2.2 Canada Polyethylene Terephthalate (PET) Market by Application
6.1.3.3 Mexico Polyethylene Terephthalate (PET) Market
6.1.3.3.1 Mexico Polyethylene Terephthalate (PET) Market by Type
6.1.3.3.2 Mexico Polyethylene Terephthalate (PET) Market by Application
6.1.3.4 Rest of North America Polyethylene Terephthalate (PET) Market
6.1.3.4.1 Rest of North America Polyethylene Terephthalate (PET) Market by Type
6.1.3.4.2 Rest of North America Polyethylene Terephthalate (PET) Market by Application
6.2 Europe Polyethylene Terephthalate (PET) Market
6.2.1 Europe Polyethylene Terephthalate (PET) Market by Type
6.2.1.1 Europe Virgin Market by Country
6.2.1.2 Europe Recycled Market by Country
6.2.2 Europe Polyethylene Terephthalate (PET) Market by Application
6.2.2.1 Europe Packaging Market by Country
6.2.2.2 Europe Automotive Market by Country
6.2.2.3 Europe Construction Market by Country
6.2.2.4 Europe Medical Market by Country
6.2.2.5 Europe Others Market by Country
6.2.3 Europe Polyethylene Terephthalate (PET) Market by Country
6.2.3.1 Germany Polyethylene Terephthalate (PET) Market
6.2.3.1.1 Germany Polyethylene Terephthalate (PET) Market by Type
6.2.3.1.2 Germany Polyethylene Terephthalate (PET) Market by Application
6.2.3.2 UK Polyethylene Terephthalate (PET) Market
6.2.3.2.1 UK Polyethylene Terephthalate (PET) Market by Type
6.2.3.2.2 UK Polyethylene Terephthalate (PET) Market by Application
6.2.3.3 France Polyethylene Terephthalate (PET) Market
6.2.3.3.1 France Polyethylene Terephthalate (PET) Market by Type
6.2.3.3.2 France Polyethylene Terephthalate (PET) Market by Application
6.2.3.4 Russia Polyethylene Terephthalate (PET) Market
6.2.3.4.1 Russia Polyethylene Terephthalate (PET) Market by Type
6.2.3.4.2 Russia Polyethylene Terephthalate (PET) Market by Application
6.2.3.5 Spain Polyethylene Terephthalate (PET) Market
6.2.3.5.1 Spain Polyethylene Terephthalate (PET) Market by Type
6.2.3.5.2 Spain Polyethylene Terephthalate (PET) Market by Application
6.2.3.6 Italy Polyethylene Terephthalate (PET) Market
6.2.3.6.1 Italy Polyethylene Terephthalate (PET) Market by Type
6.2.3.6.2 Italy Polyethylene Terephthalate (PET) Market by Application
6.2.3.7 Rest of Europe Polyethylene Terephthalate (PET) Market
6.2.3.7.1 Rest of Europe Polyethylene Terephthalate (PET) Market by Type
6.2.3.7.2 Rest of Europe Polyethylene Terephthalate (PET) Market by Application
6.3 Asia Pacific Polyethylene Terephthalate (PET) Market
6.3.1 Asia Pacific Polyethylene Terephthalate (PET) Market by Type
6.3.1.1 Asia Pacific Virgin Market by Country
6.3.1.2 Asia Pacific Recycled Market by Country
6.3.2 Asia Pacific Polyethylene Terephthalate (PET) Market by Application
6.3.2.1 Asia Pacific Packaging Market by Country
6.3.2.2 Asia Pacific Automotive Market by Country
6.3.2.3 Asia Pacific Construction Market by Country
6.3.2.4 Asia Pacific Medical Market by Country
6.3.2.5 Asia Pacific Others Market by Country
6.3.3 Asia Pacific Polyethylene Terephthalate (PET) Market by Country
6.3.3.1 China Polyethylene Terephthalate (PET) Market
6.3.3.1.1 China Polyethylene Terephthalate (PET) Market by Type
6.3.3.1.2 China Polyethylene Terephthalate (PET) Market by Application
6.3.3.2 Japan Polyethylene Terephthalate (PET) Market
6.3.3.2.1 Japan Polyethylene Terephthalate (PET) Market by Type
6.3.3.2.2 Japan Polyethylene Terephthalate (PET) Market by Application
6.3.3.3 India Polyethylene Terephthalate (PET) Market
6.3.3.3.1 India Polyethylene Terephthalate (PET) Market by Type
6.3.3.3.2 India Polyethylene Terephthalate (PET) Market by Application
6.3.3.4 South Korea Polyethylene Terephthalate (PET) Market
6.3.3.4.1 South Korea Polyethylene Terephthalate (PET) Market by Type
6.3.3.4.2 South Korea Polyethylene Terephthalate (PET) Market by Application
6.3.3.5 Australia Polyethylene Terephthalate (PET) Market
6.3.3.5.1 Australia Polyethylene Terephthalate (PET) Market by Type
6.3.3.5.2 Australia Polyethylene Terephthalate (PET) Market by Application
6.3.3.6 Malaysia Polyethylene Terephthalate (PET) Market
6.3.3.6.1 Malaysia Polyethylene Terephthalate (PET) Market by Type
6.3.3.6.2 Malaysia Polyethylene Terephthalate (PET) Market by Application
6.3.3.7 Rest of Asia Pacific Polyethylene Terephthalate (PET) Market
6.3.3.7.1 Rest of Asia Pacific Polyethylene Terephthalate (PET) Market by Type
6.3.3.7.2 Rest of Asia Pacific Polyethylene Terephthalate (PET) Market by Application
6.4 LAMEA Polyethylene Terephthalate (PET) Market
6.4.1 LAMEA Polyethylene Terephthalate (PET) Market by Type
6.4.1.1 LAMEA Virgin Market by Country
6.4.1.2 LAMEA Recycled Market by Country
6.4.2 LAMEA Polyethylene Terephthalate (PET) Market by Application
6.4.2.1 LAMEA Packaging Market by Country
6.4.2.2 LAMEA Automotive Market by Country
6.4.2.3 LAMEA Construction Market by Country
6.4.2.4 LAMEA Medical Market by Country
6.4.2.5 LAMEA Others Market by Country
6.4.3 LAMEA Polyethylene Terephthalate (PET) Market by Country
6.4.3.1 Brazil Polyethylene Terephthalate (PET) Market
6.4.3.1.1 Brazil Polyethylene Terephthalate (PET) Market by Type
6.4.3.1.2 Brazil Polyethylene Terephthalate (PET) Market by Application
6.4.3.2 Argentina Polyethylene Terephthalate (PET) Market
6.4.3.2.1 Argentina Polyethylene Terephthalate (PET) Market by Type
6.4.3.2.2 Argentina Polyethylene Terephthalate (PET) Market by Application
6.4.3.3 UAE Polyethylene Terephthalate (PET) Market
6.4.3.3.1 UAE Polyethylene Terephthalate (PET) Market by Type
6.4.3.3.2 UAE Polyethylene Terephthalate (PET) Market by Application
6.4.3.4 Saudi Arabia Polyethylene Terephthalate (PET) Market
6.4.3.4.1 Saudi Arabia Polyethylene Terephthalate (PET) Market by Type
6.4.3.4.2 Saudi Arabia Polyethylene Terephthalate (PET) Market by Application
6.4.3.5 South Africa Polyethylene Terephthalate (PET) Market
6.4.3.5.1 South Africa Polyethylene Terephthalate (PET) Market by Type
6.4.3.5.2 South Africa Polyethylene Terephthalate (PET) Market by Application
6.4.3.6 Nigeria Polyethylene Terephthalate (PET) Market
6.4.3.6.1 Nigeria Polyethylene Terephthalate (PET) Market by Type
6.4.3.6.2 Nigeria Polyethylene Terephthalate (PET) Market by Application
6.4.3.7 Rest of LAMEA Polyethylene Terephthalate (PET) Market
6.4.3.7.1 Rest of LAMEA Polyethylene Terephthalate (PET) Market by Type
6.4.3.7.2 Rest of LAMEA Polyethylene Terephthalate (PET) Market by Application
Chapter 7. Company Profiles
7.1 Lanxess AG
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Acquisition and Mergers:
7.1.6 SWOT Analysis
7.2 LOTTE Chemical Corporation (LOTTE Corp.)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.3 DuPont de Nemours, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 SWOT Analysis
7.4 LyondellBasell Industries Holdings B.V.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Product Launches and Product Expansions:
7.4.6 SWOT Analysis
7.5 BASF SE
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 SWOT Analysis
7.6 Indorama Ventures Public Company Limited (Indorama Resources Ltd.)
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Recent strategies and developments:
7.6.3.1 Geographical Expansions:
7.6.4 SWOT Analysis
7.7 RTP Company, Inc.
7.7.1 Company Overview
7.7.2 SWOT Analysis
7.8 SABIC (Saudi Arabian Oil Company)
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Recent strategies and developments:
7.8.4.1 Product Launches and Product Expansions:
7.8.5 SWOT Analysis
7.9 Nan Ya Plastics Corp. (NPC)
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 SWOT Analysis
7.10. Koninklijke DSM N.V.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 SWOT Analysis
Chapter 8. Winning Imperatives of Polyethylene Terephthalate (PET) Market

Companies Mentioned

  • Lanxess AG
  • LOTTE Chemical Corporation (LOTTE Corp.)
  • DuPont de Nemours, Inc.
  • LyondellBasell Industries Holdings B.V.
  • BASF SE
  • Indorama Ventures Public Company Limited (Indorama Resources Ltd.)
  • RTP Company, Inc.
  • SABIC (Saudi Arabian Oil Company)
  • Nan Ya Plastics Corp. (NPC)
  • Koninklijke DSM N.V.

Methodology

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