PET and PBT Resin Market - Size, Share, and Forecast [2021-2031]
The PET and PBT Resin Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents analysis based on PET type (virgin PET and recycled PET). The report is segmented by PET application (bottles, films and sheets, and others). The report is segmented by PET end use industry (food and beverage, automotive, electrical and electronics, healthcare, consumer goods, and others). The report is segmented by PBT application (electrical and electronics, automotive, consumer appliances, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report PET and PBT Resin Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
PET and PBT Resin Market Segmentation
PET Type- Virgin PET and Recycled PET
- Bottles
- Films and Sheets
- Others
- Food and Beverage
- Automotive
- Electrical and Electronics
- Healthcare
- Consumer Goods
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
PET and PBT Resin Market Growth Drivers- Packaging Demand Drives Growth for PET and PBT Resins: Packaging is one of the significant growth stimulators for PET and PBT resins. In response to the growing demand for lightweight, resistant, recyclable products, manufacturers increasingly use PET and PBT resins in the production lines of their packaging. Such materials have excellent strength-to-weight ratios and versatility that make them suitable for a broad portfolio of applications.
- Sustainability Boosts PET Resin Demand in Beverage and Food Packaging: It is highly sought after in beverage and food packaging due to its clear transparency, excellent barrier properties, and recyclability. Brands are now looking towards green packaging solutions due to the increasing concerns for sustainability. Since companies are continuously investing in recycling technologies and processes to meet consumer expectations, the demand for rPET and its trend will further advance the resin market.
- PBT Resins in Industrial Packaging for Durability and Performance: PBT resins are increasingly being used for industrial packaging due to their high chemical resistance and thermal stability. The high performance makes it very suitable and widely used in the production of strong, durable containers and closures in the automotive and electronics industries. In general, in terms of the growth of these industries into more adoption of PBT resin, this market is expected to grow.
- Packaging Industry Drives PET and PBT Resin Growth: Growth drivers of PET and PBT resins are in the packaging industry. More manufacturers are extending their application of PET and PBT resins due to the need for weight-reducing, durable, and recyclable packaging. It affords excellent strength-to-weight ratios and versatility with wide applications.
- PET's Role in Sustainable Food and Beverage Packaging: PET has been found to have excellent applications in beverage and food packaging due to its high clarity, barrier properties, and recyclability. Sustainability concerns are increasingly driving demand for brands to seek alternatives with eco-friendly packaging solutions. This demand has kept rPET high, hence boosting the resin market. Investment by companies into recycling technologies, as well as processes serves to enhance consumer expectations further.
- PBT Resins Gain Popularity in Industrial Applications: High chemical resistance and thermal stability are making PBT very popular in industrial packaging applications. Durable containers and closures, specially the automotive and electronics sectors, widely accept the product. Growth in these industries increases the demand for PBT resins, fueling the market growth.
- High-Performance PET and PBT Resins Drive Market Expansion: High-performance grades of PET and PBT resins have created new growth opportunities in the market because specialty materials are being developed to meet high-requirement applications in various industries, including automotive, electronics, and packaging. Enhanced properties related to strength, heat, and chemical resistance make them highly in demand in many applications.
- PBT Resins Boosting Automotive Industry Innovation: High-performance PBT resins are increasingly used in automotive applications which require both abrasion resistance and heat resistance. Lightening and fuel efficiency is a current focus area with promise for yet more growth and demand for these advanced materials. Many opportunities exist for manufacturers to use this trend as a springboard to innovation and product line expansion.
- Advanced PET Resins Enhancing Packaging Applications: The first one that is gaining special attention within the packaging industry is high-performance PET resins, where applications require superior barrier and aesthetic properties. In food and beverages, for example, sensitive applications where safety and quality come first, resins fill the bill. As brands strive to give their products an extended shelf life and make them more attractive, demand for advanced PET grades will continue to increase.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the PET and PBT Resin Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the PET and PBT Resin Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The PET and PBT Resin Market is estimated to witness a CAGR of 6% from 2023 to 2031
The increasing demand from packaging industry is driving the market growth.
Indorama Ventures Public Company Limited; SABIC; BASF SE; Alpek S.A.B. de C.V.; NAN YA Plastics Industrial Co., Ltd.; DuPont; Reliance Industries Limited; Far Eastern New Century Corporation; MITSUI CHEMICALS ASIA PACIFIC, LTD.; and DSM are some of the key players operating in the PET and PBT resin market
Based on PET type, the recycled PET segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the PET and PBT resin market due to rapid industrialization and urbanization in countries such as China and India are driving significant demand for packaging, automotive, and electronics, which rely heavily on these resins.
The growing focus on recyclable materials are expected to be the key market trends.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 PET And PBT Resin Market - By Applications
1.3.2 PET And PBT Resin Market - By Region
1.3.2.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PET AND PBT RESIN MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. PET AND PBT RESIN MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. PET AND PBT RESIN MARKET - GLOBAL MARKET ANALYSIS
6.1. PET AND PBT RESIN - GLOBAL MARKET OVERVIEW
6.2. PET AND PBT RESIN - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PET AND PBT RESIN MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATIONS
7.1. OVERVIEW
7.2. APPLICATIONS MARKET FORECASTS AND ANALYSIS
7.3. PET APPLICATION
7.3.1. Overview
7.3.2. PET Application Market Forecast and Analysis
7.3.3. Bottles Market
7.3.3.1. Overview
7.3.3.2. Bottles Market Forecast and Analysis
7.3.4. Films Market
7.3.4.1. Overview
7.3.4.2. Films Market Forecast and Analysis
7.3.5. Food Packaging Market
7.3.5.1. Overview
7.3.5.2. Food Packaging Market Forecast and Analysis
7.3.6. Others Market
7.3.6.1. Overview
7.3.6.2. Others Market Forecast and Analysis
7.4. PBT APPLICATION
7.4.1. Overview
7.4.2. PBT Application Market Forecast and Analysis
7.4.3. Automotive Market
7.4.3.1. Overview
7.4.3.2. Automotive Market Forecast and Analysis
7.4.4. Electrical and Electronics Market
7.4.4.1. Overview
7.4.4.2. Electrical and Electronics Market Forecast and Analysis
7.4.5. Consumer Appliance Market
7.4.5.1. Overview
7.4.5.2. Consumer Appliance Market Forecast and Analysis
7.4.6. Others Market
7.4.6.1. Overview
7.4.6.2. Others Market Forecast and Analysis
8. PET AND PBT RESIN MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
8.1. NORTH AMERICA
8.1.1 North America PET And PBT Resin Market Overview
8.1.2 North America PET And PBT Resin Market Forecasts and Analysis
8.1.3 North America PET And PBT Resin Market Forecasts and Analysis - By Applications
8.1.4 North America PET And PBT Resin Market Forecasts and Analysis - By Countries
8.1.4.1 United States PET And PBT Resin Market
8.1.4.1.1 United States PET And PBT Resin Market by Applications
8.1.4.2 Canada PET And PBT Resin Market
8.1.4.2.1 Canada PET And PBT Resin Market by Applications
8.1.4.3 Mexico PET And PBT Resin Market
8.1.4.3.1 Mexico PET And PBT Resin Market by Applications
8.2. EUROPE
8.2.1 Europe PET And PBT Resin Market Overview
8.2.2 Europe PET And PBT Resin Market Forecasts and Analysis
8.2.3 Europe PET And PBT Resin Market Forecasts and Analysis - By Applications
8.2.4 Europe PET And PBT Resin Market Forecasts and Analysis - By Countries
8.2.4.1 Germany PET And PBT Resin Market
8.2.4.1.1 Germany PET And PBT Resin Market by Applications
8.2.4.2 France PET And PBT Resin Market
8.2.4.2.1 France PET And PBT Resin Market by Applications
8.2.4.3 Italy PET And PBT Resin Market
8.2.4.3.1 Italy PET And PBT Resin Market by Applications
8.2.4.4 United Kingdom PET And PBT Resin Market
8.2.4.4.1 United Kingdom PET And PBT Resin Market by Applications
8.2.4.5 Russia PET And PBT Resin Market
8.2.4.5.1 Russia PET And PBT Resin Market by Applications
8.2.4.6 Rest of Europe PET And PBT Resin Market
8.2.4.6.1 Rest of Europe PET And PBT Resin Market by Applications
8.3. ASIA-PACIFIC
8.3.1 Asia-Pacific PET And PBT Resin Market Overview
8.3.2 Asia-Pacific PET And PBT Resin Market Forecasts and Analysis
8.3.3 Asia-Pacific PET And PBT Resin Market Forecasts and Analysis - By Applications
8.3.4 Asia-Pacific PET And PBT Resin Market Forecasts and Analysis - By Countries
8.3.4.1 Australia PET And PBT Resin Market
8.3.4.1.1 Australia PET And PBT Resin Market by Applications
8.3.4.2 China PET And PBT Resin Market
8.3.4.2.1 China PET And PBT Resin Market by Applications
8.3.4.3 India PET And PBT Resin Market
8.3.4.3.1 India PET And PBT Resin Market by Applications
8.3.4.4 Japan PET And PBT Resin Market
8.3.4.4.1 Japan PET And PBT Resin Market by Applications
8.3.4.5 South Korea PET And PBT Resin Market
8.3.4.5.1 South Korea PET And PBT Resin Market by Applications
8.3.4.6 Rest of Asia-Pacific PET And PBT Resin Market
8.3.4.6.1 Rest of Asia-Pacific PET And PBT Resin Market by Applications
8.4. MIDDLE EAST AND AFRICA
8.4.1 Middle East and Africa PET And PBT Resin Market Overview
8.4.2 Middle East and Africa PET And PBT Resin Market Forecasts and Analysis
8.4.3 Middle East and Africa PET And PBT Resin Market Forecasts and Analysis - By Applications
8.4.4 Middle East and Africa PET And PBT Resin Market Forecasts and Analysis - By Countries
8.4.4.1 South Africa PET And PBT Resin Market
8.4.4.1.1 South Africa PET And PBT Resin Market by Applications
8.4.4.2 Saudi Arabia PET And PBT Resin Market
8.4.4.2.1 Saudi Arabia PET And PBT Resin Market by Applications
8.4.4.3 U.A.E PET And PBT Resin Market
8.4.4.3.1 U.A.E PET And PBT Resin Market by Applications
8.4.4.4 Rest of Middle East and Africa PET And PBT Resin Market
8.4.4.4.1 Rest of Middle East and Africa PET And PBT Resin Market by Applications
8.5. SOUTH AND CENTRAL AMERICA
8.5.1 South and Central America PET And PBT Resin Market Overview
8.5.2 South and Central America PET And PBT Resin Market Forecasts and Analysis
8.5.3 South and Central America PET And PBT Resin Market Forecasts and Analysis - By Applications
8.5.4 South and Central America PET And PBT Resin Market Forecasts and Analysis - By Countries
8.5.4.1 Brazil PET And PBT Resin Market
8.5.4.1.1 Brazil PET And PBT Resin Market by Applications
8.5.4.2 Argentina PET And PBT Resin Market
8.5.4.2.1 Argentina PET And PBT Resin Market by Applications
8.5.4.3 Rest of South and Central America PET And PBT Resin Market
8.5.4.3.1 Rest of South and Central America PET And PBT Resin Market by Applications
9. INDUSTRY LANDSCAPE
9.1. MERGERS AND ACQUISITIONS
9.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
9.3. NEW PRODUCT LAUNCHES
9.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
10. PET AND PBT RESIN MARKET, KEY COMPANY PROFILES
10.1. ALPEK
10.1.1. Key Facts
10.1.2. Business Description
10.1.3. Products and Services
10.1.4. Financial Overview
10.1.5. SWOT Analysis
10.1.6. Key Developments
10.2. BASF SE
10.2.1. Key Facts
10.2.2. Business Description
10.2.3. Products and Services
10.2.4. Financial Overview
10.2.5. SWOT Analysis
10.2.6. Key Developments
10.3. DSM
10.3.1. Key Facts
10.3.2. Business Description
10.3.3. Products and Services
10.3.4. Financial Overview
10.3.5. SWOT Analysis
10.3.6. Key Developments
10.4. E.I. DU PONT DE NEMOURS AND CO.
10.4.1. Key Facts
10.4.2. Business Description
10.4.3. Products and Services
10.4.4. Financial Overview
10.4.5. SWOT Analysis
10.4.6. Key Developments
10.5. FAR EASTERN NEW CENTURY
10.5.1. Key Facts
10.5.2. Business Description
10.5.3. Products and Services
10.5.4. Financial Overview
10.5.5. SWOT Analysis
10.5.6. Key Developments
10.6. INDORAMA VENTURES
10.6.1. Key Facts
10.6.2. Business Description
10.6.3. Products and Services
10.6.4. Financial Overview
10.6.5. SWOT Analysis
10.6.6. Key Developments
10.7. JIANGSU SANFANGXIANG GROUP
10.7.1. Key Facts
10.7.2. Business Description
10.7.3. Products and Services
10.7.4. Financial Overview
10.7.5. SWOT Analysis
10.7.6. Key Developments
10.8. M AND G CHEMICALS
10.8.1. Key Facts
10.8.2. Business Description
10.8.3. Products and Services
10.8.4. Financial Overview
10.8.5. SWOT Analysis
10.8.6. Key Developments
10.9. SAUDI BASIC INDUSTRIES CORPORATION
10.9.1. Key Facts
10.9.2. Business Description
10.9.3. Products and Services
10.9.4. Financial Overview
10.9.5. SWOT Analysis
10.9.6. Key Developments
10.10. TORAY INDUSTRIES, INC
10.10.1. Key Facts
10.10.2. Business Description
10.10.3. Products and Services
10.10.4. Financial Overview
10.10.5. SWOT Analysis
10.10.6. Key Developments
11. APPENDIX
11.1. ABOUT THE INSIGHT PARTNERS
11.2. GLOSSARY OF TERMS
1. Alpek
2. BASF SE
3. DSM
4. E.I. Du Pont De Nemours And Co.
5. Far Eastern New Century
6. Indorama Ventures
7. Jiangsu Sanfangxiang Group
8. M and G Chemicals
9. Saudi Basic Industries Corporation
10. Toray Industries, Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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