Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market Report Latest Trends and Future Opportunities Analysis

 The report 'Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market by PET Type, PET Application (Bottles, Films, Food Packaging), PBT Application (Electrical & Electronics, Automotive, Consumer Appliance), Region - Global Forecast to 2029', exhibits high growth potential and is projected to reach a market size of USD 57.64 and USD 6.37 billion by 2029 respectively from USD 43.06 and USD 4.93 Billion in 2024 at a CAGR of 6.0% and 5.3% respectively. One of the largest markets for PET & PBT resin worldwide is the Asia Pacific area. The demand for PET & PBT resin is increasing in the bottles, packaging, electricals and electronics, and automotive industry. The demand from developing nations, such as China, India, and Brazil are expected to drive the global PET & PBT resin market.

Browse in-depth TOC on 'Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market'

320 – Tables
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In Europe, rPET, by type segment is expected to be fastest growing type for PET resin market during the forecasted period.

rPET (recycled polyethylene terephthalate) is expected to be the fastest-growing segment in the PET resin market in Europe due to rising environmental concerns and sustainability initiatives. European regulations, such as the Circular Economy Action Plan, encourage increased use of recycled materials. Consumer demand for eco-friendly packaging and advancements in recycling technologies also support this trend. Major brands are committing to using more rPET in packaging, further driving the growth of rPET in the European market during the forecast period.

Bottle, by application segment hold the largest share in PET resin market during forecast period.

The largest share in the PET resin market during the forecast period will likely be held by bottles due to their vast application in packaging beverages, food, and other consumer products. Bottles are made with PET as it is lightweight and strong, along with being relatively cheap. Bottles made of PET are therefore gaining increasing prominence due to the rising demand for bottled water, soft drinks, and other convenience food packaging, the trend toward sustainable packaging, and the developments in recycling technologies. Such advancements are set to positively imprint PET bottle market growth by accelerating their share.

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Asia Pacific likely to be the fastest growing region of the global PBT resin market during forecasted period.

The Asia Pacific region shall be a leading contributor to the global PBT (Polybutylene Terephthalate) resin market growth throughout the forecast period. This rise can be attributed to progression in industrialization, increased demand for automotive components, and growth of electronics and electrical sectors in the region. Countries including China, India, and Japan will be the fast-developing nations fueling the region's rapid manufacturing advancement and enlarging consumer markets. Also, the urge for high-performance materials in automotive and electronics is placing strong demand on PBT resins in the region.

Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market Companies

Indorama Ventures Public Company Limited (Thailand), Alpek, S.A.B. de C.V. (Mexico), SABIC (Saudi Arabia), BASF SE (Germany), Lotte Chemical Corporation (South Korea), Mitsubishi Chemical Group Corporation (Japan), and Jiangsu Sanfangxiang Group Co., Ltd. (China) are the key players in the global PET & PBT resin market.

Indorama Ventures Public Company Limited: Indorama Ventures Public Company Limited is a global leader in the manufacture and recycling of PET resins. The company is operating in three key segments: Combined PET, Integrated Oxides and Derivatives, and Fibers. Combined PET (CPET), the largest and most established of business segment of the company. It is a key pillar of the company's integrated global business model. CPET offers PET resins for bottles, food packaging, and other consumer applications and also provides both virgin and recycled PET to the Fibers segment, supporting the production of premium polyester yarns and fibers. Indorama Ventures has established a very extensive global network with 63 PET manufacturing and recycling facilities in 26 countries across Asia Pacific, North America, Europe, and the Middle East & Africa, ensuring the delivery of high-quality, competitive, and sustainable PET solutions worldwide.

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Alpek, S.A.B. de C.V.: Alpek, S.A.B. de C.V. is the second-largest petrochemical company in Latin America and the largest producer of integrated polyester and rPET in the Americas. The company operates in two main business segments: Polyester, Plastics and Chemicals. The remaining operations of the company come under other business segments. It operates polyester business through one of its subsidiaries, Alpek Polyester, S. A. de C. V. This polyester segment includes the production of purified terephthalic acid (PTA), polyethylene terephthalate (PET) reins, recycled PET ((RET), and polyester fibers, serving industries such as food and beverage packaging, textiles, and industrial filaments. Alpek, S.A.B. de C.V. is committed to sustainability, focusing on a circular economy by improving recycling technologies and increasing rPET, production. It has 22 manufacturing plants of the polyester segment, with a production capacity of 7,363 thousand tons per annum and is well spread over North America, South America, Europe, and Middle East & Africa.