POLYETHYLENE NAPHTHALATE MARKET ANALYSIS

Polyethylene Naphthalate MarketSize and Trends

Market Outlook

Global polyethylene naphthalate market size was valued at US$ 1,126.9 million in 2018, and is expected to register a CAGR of 8.48% during the forecast period (2019-2027). This is owing to a rise in the use of polyethylene naphthalate in various applications such as electronics and electrical equipment. Polyethylene naphthalate has excellent dielectric constant and high resistance to temperature, which is expected to increase its demand and subsequently boost the market growth in the near future. Furthermore, polyethylene naphthalate is used in manufacturing of beverage containers, especially for carbonated drinks. Polyethylene naphthalate has received the U.S. FDA approval to pack carbonated beverages, which is expected to support growth of the market during the forecast period. Moreover, perishable food products that are needed to be protected from sunlight require packaging containers made of polyethylene naphthalate, which is expected to propel the market growth in the near future. Furthermore, as compared to polyethylene terephthalate, PEN is lighter in weight which reduces the shipping cost. This has made more and more manufacturers to turn towards polyethylene naphthalate packaging, and hence support the market growth.