Surging Demand for Recyclable and Sustainable Materials Driving Polyethylene Terephthalate (PET) Industry Growth

Published on : Jun 11, 2019

Albany, New York, June 11, 2019: Consumers seeking recyclable and eco-friendly materials are influencing manufacturers across industries such as packaging and textile to switch to more sustainable options such as polyethylene terephthalate (PET). PET has emerged as a strong and versatile option especially in packaging. In addition, the excellent capacity-to-weight ratio of polyethylene terephthalate can accommodate an increasing number of products in less space during packaging. Moreover, being fully recyclable, PET is considered highly sustainable material gaining popularity in the packaging industry.    

Moreover, the need for high strength and resistance fiber in the textile and carpet textile industry is also driving the demand for PET. The textile industry has also started using polyethylene terephthalate for fiber filling in pillows, furniture, and insulated clothing. In addition, it is finding wide application in the automotive industry to manufacture products including conveyor and driver belts, seat belts, and automobile tire yarns.  

Aforementioned insights are according to the report titled “Global Polyethylene Terephthalate (PET) Industry Outlook to 2023”. The report has been incorporated into the Market Research Hub (MRH) repository.  In response to the growing demand for PET across various industries, PET plants are likely to come online in developing regions in the coming years.  

Polyethylene Terephthalate (PET) Market: Report Content

Qualitative and quantitative analysis underpins the report on the polyethylene terephthalate (PET) market. The report extensively focuses on facets in the polyethylene terephthalate (PET) market that are likely to impact on the development of the polyethylene terephthalate (PET) market. Those facets include, trends, drivers, opportunities, and restraints. Moreover, the report also sheds light on the market segments while providing in-depth analysis on polyethylene terephthalate.   

Additionally, the report defines benchmarking that is intended at assessing the performance of the solutions, products, and business processes. Benchmarking also provides details on the performances of companies — both within and outside the polyethylene terephthalate (PET) industry in the quest to enhance performance. 

The in-depth analysis of the competitive scenario of the polyethylene terephthalate (PET) market is based on Porters’ Five Force Analysis. Additionally, the Porters’ Five Force Analysis provides extensive analysis on the potential strategies of the leading players in the polyethylene terephthalate (PET) market. Meanwhile, the business strategies of the players in the market depends upon company profile, product portfolio, latest development, key differentiation, and SWOT analysis.

Polyethylene Terephthalate (PET) Market: Research Methodology

The report on the polyethylene terephthalate (PET) market is drafted using an extensive research methodology. The research methodology forms the basis for the forecast provided on the polyethylene terephthalate (PET) market. The forecast in the report is based on primary and secondary research. Moreover, currency conversions are also calculated by leveraging a constant annual exchange rate.  

The detailed profiles of the key players in the polyethylene terephthalate (PET) market have also been included in the report. Details on the players include operations by the leading players in the market across regions and financial performance of companies in the polyethylene terephthalate (PET) market.   

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