Polyethylene Terephthalate (PET) Market, By Product Type (Carbonated Soft Drink, Bottled Water, Other Drinks, Sheets & Films, Food, Non-Food), By Application (Food and Beverages, Automotive, Electronics, and Others), and By Regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa (MEA) -

Published In : Jan 2023

Code : CMI279

Pages :150

Formats :

Excel and PDF

Industry : Polymers and Resins

Polyethylene Terephthalate (PET) MarketSize and Trends

The global polyethylene terephthalate market is estimated to surpass US$ 72.88 Bn by the end of 2030 in terms of revenue, exhibiting a CAGR of 6.7% during the forecast period (2022 to 2030).

Figure 1. Global Polyethylene Terephthalate (PET) Market Value Share (%), By Region, 2022

Asia Pacific dominated the global Polyethylene Terephthalate (PET) market in 2022, accounting for a 48% share in terms of revenue, followed by Europe and North America, respectively.

Figure 2. Global Polyethylene Terephthalate (PET) Market value Share (%), By Application, 2022

Polyethylene Terephthalate Market, Segment Analysis by application:

Based on application, the market is segmented into Food & Beverages, Automotive, Electronics, and Others. The food & beverages segment accounted for the largest market share in the Global Polyethylene Terephthalate market which was 80.3% of the total revenue share in 2021 and is expected to continue its dominance over the forecast period.

Market Trends

As polyethylene terephthalate (PET) is an excellent water and moisture barrier material, plastic bottles made from PET are widely used for Mineral Water and Soft Drinks (Low and High Carbonated). PET bottles are also recycled for various purposes. For example, they are used in solar water disinfection in developing nations, in which empty PET bottles are filled with water and left in the sun to allow disinfection by ultraviolet radiation. PET is useful for this purpose because many other materials (including window glass) that are transparent to visible light are opaque to ultraviolet radiation. According to the Indian Journal of Science and Technology, PET bottles filled with sand, soil, fly ash, or any other material like household plastic waste when well compacted can be used as a building material replacing traditional bricks.