The Global PET Packaging Market is projected to reach a value of over USD 94.8 billion by 2027 at a CAGR of around 4.3%.
Polyethylene terephthalate (PET or PETE) is a general-purpose thermoplastic polymer which belongs to the polyester family of polymers. Polyester resins are known for their excellent combination of properties such as mechanical, thermal, chemical resistance, and dimensional stability. Moreover, PET is one of the most recycled thermoplastics, recycled PET can be converted to fibres, fabrics, sheets for packaging and manufacturing automotive parts. Due to these properties, it is widely used in packaging application.
Market Driver:
To maintain the quality and increase the quality of the food and to deal with external environment conditions, PET packaging has been widely used due to superior characteristics including resistance of chemical, acid, and oil. Furthermore, the hot-sealable property of PET helps to manufacture the seal-tight lids and caps. It also plays a crucial role in transportation and logistics because of the lightweight. Thus, the varying consumer preferences for healthy packaged food is boosting the growth of the PET packaging market in the food & beverage industry.
Market Restraint:
Several materials such as monoethylene glycol (MEG) and purified terephthalic acid (PTA) or dimethyl terephthalate (DMT) are used for the manufacturing of PET. Volatility in the prices of these materials is a major factor likely to hamper the market growth during the forecasted period. The fluctuating price of petroleum product due to supply and demand gap, natural disasters, production cost along with storage capacity.
The report on the PET Packaging market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Billion) |
Segments Included |
Form, Material, Packaging Type, Pack Type, End-users, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
PET Packaging Market, by Form
PET Packaging Market, by Packaging Type
PET Packaging Market, by Pack Type
PET Packaging Market, by End User
PET Packaging Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE PET PACKAGING MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY