Africa Polyethylene Terephthalate (PET) Market Size

The Africa Polyethylene Terephthalate (PET) market is experiencing growth driven by its versatile applications in packaging and the electrical and electronics industries. The market's expansion is significantly influenced by the increasing demand for convenient and functional packaging solutions, particularly in the food and beverage sector, as well as the rapid growth of the automotive industry. South Africa and Nigeria are key players in the region, with substantial contributions to the market size due to their robust packaging production. The automotive sector, in particular, is poised for rapid growth, spurred by technological advancements and government initiatives promoting electric vehicles, further enhancing the market's scale in the region.

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Market Size of africa polyethylene terephthalate (pet) Industry

Africa Polyethylene Terephthalate (PET) Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 586.26 Million
svg icon Market Size (2029) USD 815.38 Million
svg icon Largest Share by End User Industry Packaging
svg icon CAGR (2024 - 2029) 6.82 %
svg icon Largest Share by Country South Africa

Major Players

Africa Polyethylene Terephthalate (PET) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Africa Polyethylene Terephthalate (PET) Market Analysis

The Africa Polyethylene Terephthalate (PET) Market size is estimated at 586.26 million USD in 2024, and is expected to reach 815.38 million USD by 2029, growing at a CAGR of 6.82% during the forecast period (2024-2029).

586.26 Million

Market Size in 2024 (USD)

815.38 Million

Market Size in 2029 (USD)

5.25 %

CAGR (2017-2023)

6.82 %

CAGR (2024-2029)

Largest Market by End-user Industry

98.12 %

value share, Packaging, 2023

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Due to the wide range of applications, including bottles, jars, and containers, specifically in the food and beverages industry, the packaging industry held the largest market share.

Fastest Growing Market by End-user Industry

11.64 %

Projected CAGR, Electrical and Electronics, 2024-2029

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Due to the rising automotive application of PET, owing to its properties such as lightweight, high strength, and stiffness electronics is projected to be the fastest growing end-user.

Largest Market by Country

25.62 %

value share, South Africa, 2023

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South Africa held the largest share of the African PET market in line with its huge volume share of around 29.92% in regional plastic packaging production.

Fastest Growing Market by Country

6.07 %

Projected CAGR, South Africa, 2024-2029

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With plastic packaging production likely to record a CAGR of 4.03% during the forecast period, South Africa is forecast to be the fastest-growing country in the market.

Leading Market Player

76.19 %

market share, Safripol division of KAP Diversified Industrial (Pty) Ltd, 2022

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In 2022, the company held the largest market share and accounted for the highest production capacity of PET resin in Africa, amounting to around 240 kilotons per year.

Automotive segment to record the fastest-growing demand for PET

  • Polyethylene terephthalate has a transparent and semi-crystalline nature, which makes it suitable for a wide range of applications in the packaging and electrical and electronics industries, such as packaging foods and beverages, especially in the bottling of convenience-sized soft drinks, juices, and water, and coil forms for electrical encapsulation, electrical devices, solenoids, and smart meters. In 2022, the African PET resin market grew by 7.69% in value over 2021.
  • The packaging segment is the largest end-user industry in the regional market due to significant factors such as the sizes of families becoming smaller and a substantial increase in single-person homes, which is resulting in higher demand for functional, prepackaged, and convenient food products. African plastic packaging production reached a volume of 3.13 million tons in 2022 and is likely to record a CAGR of 4.69% during the forecast period (2023-2029). Such factors are expected to increase the demand for polyethylene terephthalate in the region during the forecast period.
  • Automotive is the fastest-growing end-user industry in the region by revenue, expected to record a CAGR of 10.59% during the forecast period (2023-2029). The rapid pace of technological innovation is driving demand for newer and faster automotive products. The initiatives taken by governments in the African region to promote electric vehicles in their respective countries are expected to boost the demand for PET in the near future. The region's vehicle production is projected to reach 1.74 million units by 2029, growing from 1.19 million units in 2022. As a result, the increase in automotive production in the region is projected to drive the demand for PET resin in the future.
Africa Polyethylene Terephthalate (PET) Market

South Africa to remain the major PET consumer in Africa

  • PET has a wide range of applications in the packaging and electrical and electronics industries, including in packaging foods and beverages, specifically convenience-sized soft drinks, water, coil forms, electrical encapsulation, electrical devices, and smart meters. Africa accounted for nearly 2.15% of the global consumption of PET resin in 2022. The resins exhibit versatile properties, which find applications in various other industries as well.
  • South Africa is the region's largest consumer country of PET resin due to the rising packaging production in the country. South Africa's packaging industry held a revenue share of 25.79% in 2022 in the African PET market. Plastic packaging production in the country increased at an annual rate of 2.20% in 2022 and reached around 0.94 million tons. South Africa is also the fastest-growing country in the region, with a CAGR of 6.24% by value, and it is likely to create more demand for the market in the future.
  • Nigeria is the second-largest country in the African PET resin market, which is expected to register a CAGR of 5.86% in terms of value during the forecast period (2023-2029). The country’s demand for PET resin is increasing significantly due to rising plastic packaging production. The plastic packaging production in the country reached around 0.30 million tons in 2022 from around 0.28 million tons in 2021.
  • Automotive is the fastest-growing end-user industry in the African region, which is expected to register a revenue CAGR of around 10.59% over the forecast period. Several African countries are investing in local automotive manufacturing to meet the growing demand for vehicles and reduce reliance on imports.

Africa Polyethylene Terephthalate (PET) Industry Segmentation

Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Nigeria, South Africa are covered as segments by Country.

  • Polyethylene terephthalate has a transparent and semi-crystalline nature, which makes it suitable for a wide range of applications in the packaging and electrical and electronics industries, such as packaging foods and beverages, especially in the bottling of convenience-sized soft drinks, juices, and water, and coil forms for electrical encapsulation, electrical devices, solenoids, and smart meters. In 2022, the African PET resin market grew by 7.69% in value over 2021.
  • The packaging segment is the largest end-user industry in the regional market due to significant factors such as the sizes of families becoming smaller and a substantial increase in single-person homes, which is resulting in higher demand for functional, prepackaged, and convenient food products. African plastic packaging production reached a volume of 3.13 million tons in 2022 and is likely to record a CAGR of 4.69% during the forecast period (2023-2029). Such factors are expected to increase the demand for polyethylene terephthalate in the region during the forecast period.
  • Automotive is the fastest-growing end-user industry in the region by revenue, expected to record a CAGR of 10.59% during the forecast period (2023-2029). The rapid pace of technological innovation is driving demand for newer and faster automotive products. The initiatives taken by governments in the African region to promote electric vehicles in their respective countries are expected to boost the demand for PET in the near future. The region's vehicle production is projected to reach 1.74 million units by 2029, growing from 1.19 million units in 2022. As a result, the increase in automotive production in the region is projected to drive the demand for PET resin in the future.
End User Industry
Automotive
Building and Construction
Electrical and Electronics
Industrial and Machinery
Packaging
Other End-user Industries
Country
Nigeria
South Africa
Rest of Africa
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Africa Polyethylene Terephthalate (PET) Market Size Summary

The Africa Polyethylene Terephthalate (PET) market is experiencing significant growth, driven by its versatile applications in packaging and the electrical and electronics industries. PET's transparent and semi-crystalline properties make it ideal for packaging foods and beverages, particularly in bottling convenience-sized drinks, and for use in electrical encapsulation and devices. The packaging sector is the largest consumer of PET in the region, fueled by trends such as smaller family sizes and an increase in single-person households, which heighten the demand for convenient and prepackaged food products. The automotive industry is emerging as the fastest-growing end-user sector, with government initiatives promoting electric vehicles further boosting PET demand. South Africa leads the region in PET consumption, supported by its robust packaging industry, while Nigeria follows as a significant market player.

The African PET market is characterized by a fairly consolidated structure, with major companies like Alfa S.A.B. de C.V., Indorama Ventures Public Company Limited, Reliance Industries Limited, SABIC, and Safripol division of KAP Diversified Industrial (Pty) Ltd dominating the landscape. South Africa's strategic position as a manufacturing hub, coupled with its efficient logistics and regional market access, makes it a key player in supplying electronics to Africa. Despite challenges such as reliance on imports for consumer electronics and past disruptions in production, the region is poised for growth, with a focus on enhancing domestic manufacturing and supporting the electrical and electronics sectors. The market's expansion is further supported by increasing plastic packaging production and a growing middle-class population, which drives demand for PET and related products.

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Africa Polyethylene Terephthalate (PET) Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Automotive

      2. 1.1.2 Building and Construction

      3. 1.1.3 Electrical and Electronics

      4. 1.1.4 Industrial and Machinery

      5. 1.1.5 Packaging

      6. 1.1.6 Other End-user Industries

    2. 1.2 Country

      1. 1.2.1 Nigeria

      2. 1.2.2 South Africa

      3. 1.2.3 Rest of Africa

Africa Polyethylene Terephthalate (PET) Market Size FAQs

The Africa Polyethylene Terephthalate (PET) Market size is expected to reach USD 586.26 million in 2024 and grow at a CAGR of 6.82% to reach USD 815.38 million by 2029.

In 2024, the Africa Polyethylene Terephthalate (PET) Market size is expected to reach USD 586.26 million.

Africa Polyethylene Terephthalate (PET) Market Report Snapshots

Africa Polyethylene Terephthalate (PET) Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029