Global Crystalline Polyethylene Terephthalate Market is expected to foresee significant growth. Asia Pacific leads the growth!

Global Crystalline Polyethylene Terephthalate market is expected to register a CAGR of approx. 7% over the period of 2022-2028. Crystalline Polyethylene Terephthalate (C-PET) C-PET) is a product of the polyester family. When PET is held in the stretched form at elevated temperatures, it slowly crystallizes and starts to become opaque, more rigid, and less flexible. It is used as utilized in packaging because of its exceptional stiffness and capacity to tolerate high temperatures ranging from -400 to 4000 degrees Fahrenheit. The global crystalline polyethylene Terephthalate can be attributed to rising in the demand for sustainable packaging material and the increasing demand for food majorly through online mode leads to further demand for food packaging which rising the adoption of inorganic growth strategies among key industry players across the globe. For instance, In Sep. 2022,Eastman advanced a circular future for healthcare packaging with key collaboration by announcing an agreement with Ethicon, a MedTech company to source raw material for its medical device sterile-barrier packaging. The companies worked closely to chart a path toward creating a more circular future for the packaging of medical devices, driving landfill diversion, and reducing carbon emissions. Furthermore, the rise in demand contributes to the enhanced mechanical properties of PET termed as an extremely versatile engineering-grade plastic possessing excellent chemical and thermal resistance. PET itself exhibits a
high melting point which is one of the main reasons why the polymer can retain its properties at high temperatures.

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Based on the manufacturing process, the crystalline polyethylene terephthalate market is segmented into extrusion and Molding. The molding segment accounted for a significant market share in 2021 and it is estimated that it will grow rapidly during the projected timeframe. Extrusion helps in creating linear and 2-dimensional (2-D) structures, while molding creates 3-D packaging structures. The types of molding used are blow molding and injection molding for transparent bottles.

Based on the application, the market is fragmented into trays, cups, films/sheets, bottles, and others. The bottles segment grabbed a considerable market share in 2021, and it is expected to grow at a significant CAGR during the forecast period. This is because crystalline PET bottles are anti-microbial while also pricing necessary hygiene and product protection.

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For a better understanding of the market adoption of Crystalline Polyethylene Terephthalate, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes a major market for the crystalline polyethylene terephthalate industry across the globe with the largest consumption coming from countries such as China, Japan, and India owing to the use of crystalline PET is the non-toxicity of the product which does not affect the quality of the product. The global crystalline polyethylene terephthalate is anticipated to witness the highest growth in Asia-Pacific owing to the growing chemical industry of China and India. The regional market may further be propelled by the growing population leading to an increase in the revenue of the F & B sector. Other factors that could lead to more revenue involve increasing product innovation, higher investments, increase in the number of players at the domestic and international levels.

Some of the major players operating in the market include Eastman Chemical Co, Dow, Far Eastern New Century Corp, Indorama Ventures PCL, SABIC (Saudi Basic Industries Corporation), PolyQuest, Inc., Teijin Ltd, Delta-Engineering, Treform Packaging AB, and Petrotemex.

Global Crystalline Polyethylene Terephthalate Market Segmentation

Market Insight, by Manufacturing Type

• Extrusion
• Molding

Market Insight, by Application

• Trays
• Cups
• Films/Sheets
• Bottles
• Others

Market Insight, by End User

• Food & Beverages
• Pharmaceuticals
• Automotive
• Others

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Australia
  • Japan
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• Eastman Chemical Co
• Dow
• Far Eastern New Century Corp
• Indorama Ventures PCL
• SABIC (Saudi Basic Industries Corporation)
• PolyQuest, Inc.
• Teijin Ltd
• Delta-Engineering
• Treform Packaging AB
• Petrotemex