Crystalline Polyethylene Terephthalate Market: Current Analysis and Forecast (2022-2028)

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The 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 demand for crystalline polyethylene terephthalate can be attributed to the increased industrialization and the growing manufacturing of beverages and the carbonated soft drinks packaging has become increasingly attractive to investors owing to the technology-driven innovations contributing to market penetration. For instance, in Aug 2022, Indorama Ventures Public Company Limited, a global chemical company plans to invest in cloud computing and digital transformation to fuel their business growth. Furthermore, the crystalline polyethylene terephthalate market is anticipated to grow on account of the increased adoption of environmental friendly packaging as the plastic used is easily recyclable, therefore reduces pollution and garbage accumulation. However, some of the restraints in the market including fluctuation in the price of raw material comprises of ethylene glycol, dimethyl terephthalate or terephthalic acid.

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 are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst manufacturing process, the molding category accounted for the significant share in the market in 2020”

Based on manufacturing process, the crystalline polyethylene terephthalate market is segmented into extrusion and Molding. The molding segment accounted for a significant market share 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 the transparent bottles.

Crystalline Polyethylene Terephthalate Market Report Coverage

 “Amongst application, the bottles category is expected to witness considerable CAGR during the forecast period”

Based on the application, the market is fragmented into trays, cups, films/sheets, bottles, and others. The bottles segment grabbed a considerable market share, 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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“Amongst end user, the food & beverages category is expected to witness considerable CAGR during the forecast period”

Based on End user, the market is fragmented into food & beverages, pharmaceuticals, automotive and others. The food & beverages segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The earlier days and old trend packaging of metal, aluminum cans, glass bottles and cardboard cartons are replaced by polyethylene terephthalate and with newer version of concepts.

 “Asia Pacific to witness significant growth during the forecast period”

Asia Pacific constitutes a major market for the crystalline polyethylene terephthalate industry across the global with the largest consumption coming from countries such as China, Japan, and India owing to 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.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Research Methodology for the Global Crystalline Polyethylene Terephthalate Market Analysis (2022-2028)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global crystalline polyethylene terephthalate market were the three major steps undertaken to create and analyze the adoption of crystalline polyethylene terephthalate market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global crystalline polyethylene terephthalate market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the crystalline polyethylene terephthalate market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the crystalline polyethylene terephthalate market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the manufacturing process, application, and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the crystalline polyethylene terephthalate market. Further, we conducted factor analysis using dependent and independent variables such as an increased industrialization and the growing manufacturing of beverages and the carbonated soft drinks packaging globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the crystalline polyethylene terephthalate market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global crystalline polyethylene terephthalate market and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the crystalline polyethylene terephthalate market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global crystalline polyethylene terephthalate market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global crystalline polyethylene terephthalate market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of manufacturing process, application, and end user in the global crystalline polyethylene terephthalate market.

The main objective of the global Crystalline Polyethylene Terephthalate Market Study

The current & future market trends of the global crystalline polyethylene terephthalate market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the crystalline polyethylene terephthalate market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of manufacturing process, application, and end user.
• Define and analysis of the regulatory framework for the crystalline polyethylene terephthalate market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the crystalline polyethylene terephthalate market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
• Company profiles of the crystalline polyethylene terephthalate market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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