Global Polyethylene Terephthalate (Pet) Packaging Market is Predicted to Value Over US $ 3 Billion by 2026

  • 27 Jun 2019

Global Polyethylene Terephthalate (Pet) Packaging Market is predicted to value over US $ 3 billion by 2026 and register a CAGR of 5.9% during the forecast period 2018 to 2026.

Polyethylene terephthalate is a kind of polyester which is known as PET. It is made up of a blend of mono-ethylene glycol and terephthalic acid. PET can be shaped in boxes for packaging of food, personal care items and in plastic jugs as well. PET is an ethylene glycol polymer and terephthalic corrosive. Polyethylene Terephthalate is lightweight but solid in shape. It's shatterproof, sparing and non-receptive as well. PET's insurance for refreshment, individual care,  restorative application and pharmaceutical has been well recognized by various experts around the globe. PET packaging is a cost-effective method and proven safe by FDA for packaging food, beverages, pharmaceutical & medical devices. It is further supported by extensive research activities led to the robust growth of the market. Because of its unique features of PET packaging, it is the most preferable method of packaging in the consumer segment. Rising demand for PET packaging to increase product protection led to the robust growth of the market. It increases the visibility of the product and improves brand perception among the general population. PET amends aesthetics of the product. They also have huge application in food sectors and pharmaceuticals and which led to booming growth. Additionally, the rapid advancement of technologies led to developed of the fully automated process with multiple modalities and improved operational efficiencies. Investments are poured in R&D activities to produce less hazardous and more innovative PET which is a further indication of the growth of the market. The burgeoning demand for packaging of carbonated drinks and no better substitute are driving the market of PET.
However, factors like price fluctuations and low-profit margins are hindering the growth of the market.
North America accounts for a major shareholder in the global market due to the high concentration of manufacturers. Europe is the second major stakeholder due to high adoption of PET packaging end-user segment. Asia Pacific and Latin America regions have established vast potential opportunistic space for manufacturers thanks to a large number of manufacturers of pharmaceuticals and food products. They are expected to witness the highest growth rate in global barrier packaging. The Asia Pacific is majorly dominated by domestic manufacturers. Rest of the world is expected to account significant share due to increasing adoption.

Polyethylene Terephthalate (PET) Packaging market players include Celanese, Invista, DAK Americas, Mitsui Chemicals, DuPont, Sabic and others.
Polyethylene Terephthalate (Pet) Packaging Market Restraints: 
•    Price fluctuations
•    Low-profit margins

 

Polyethylene Terephthalate (Pet) Packaging Market Segmentation:

By Packaging Type
•    Rigid Packaging
•    Flexible Packaging

By End User
•    Food & Beverage
•    Pharmaceutical
•    Personal Care & Cosmetic
•    Agrochemicals
•    Dairy

By Region:
•    North America
•    Latin America
•    Europe
•    Asia Pacific
•    Rest of the World

Competitive Landscape:
•    Tier 1 players- established companies in the market with a major market share
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  

FutureWise Key Takeaways 
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 


Objectives of the Study: 
•    To provide with an exhaustive analysis on the Global Off-Label Anticancer Drugs Market by Indications, by End-User, and by Region
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  

 

Get unlimited analyst support and customise this study further to your requirements, contact sales@futurewiseresearch.com