Asia-Pacific Polyethylene Terephthalate (PET) Market Size
Icons | Lable | Value |
---|---|---|
Study Period | 2017 - 2029 | |
Market Size (2024) | USD 11.52 Billion | |
Market Size (2029) | USD 15.59 Billion | |
Largest Share by End User Industry | Packaging | |
CAGR (2024 - 2029) | 6.24 % | |
Largest Share by Country | China | |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Polyethylene Terephthalate (PET) Market Analysis
The Asia-Pacific Polyethylene Terephthalate (PET) Market size is estimated at 11.52 billion USD in 2024, and is expected to reach 15.59 billion USD by 2029, growing at a CAGR of 6.24% during the forecast period (2024-2029).
11.52 Billion
Market Size in 2024 (USD)
15.59 Billion
Market Size in 2029 (USD)
4.21 %
CAGR (2017-2023)
6.24 %
CAGR (2024-2029)
Largest Market by End-user Industry
93.77 %
value share, Packaging, 2023
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
7.71 %
Projected CAGR, Electrical and Electronics, 2024-2029
With the rising demand for PET films in the electrical & electronics sector owing to their high insulation, mechanical, and electrical properties it is projected to grow at the fastest rate.
Largest Market by Country
55.21 %
value share, China, 2023
China held the largest share in the Asia-Pacific PET market owing to its significant share in regional plastic packaging production and electrical production, amounting to 52.3% and 68.01%, respectively.
Fastest Growing Market by Country
6.46 %
Projected CAGR, India, 2024-2029
With electronics production likely to record a CAGR of 7.96% during the forecast period, India is forecast to be the fastest-growing consumer in the market.
Leading Market Player
9.18 %
market share, China Resources (Holdings) Co.,Ltd., Ltd.
In 2022, the company held the largest market share while accounting for the highest production capacity of PET resin in the region, amounting to around 2.1 million tons per year. CR Holdings also offers various grades, including bottles.
The dominance of the packaging sector over PET is gradually shrinking
- PET has many applications in the packaging and electrical and electronics industries, including packaging foods and beverages, particularly convenience-sized soft drinks, water, coil forms, and electrical devices. Packaging and electrical and electronics industries accounted for 93.92% and 3.80%, respectively, of the revenue of the Asia-Pacific PET market in 2022.
- The packaging industry is the region's largest end-user industry for PET resin. Key factors influencing the region's plastic packaging industry include rising population, rising income levels, and changing lifestyles. The growth prospects of end-user segments such as FMCG, food and beverages, and pharmaceuticals are driving increased demand for the plastic packaging industry. Plastic packaging production in the region is expected to reach 90.7 million tons in 2029 from 70.9 million tons in 2023, registering a CAGR of 4.18%. As a result, the rising demand for packaging in the region is expected to drive the PET resin demand in the future.
- Electrical and electronics is expected to be the fastest-growing industry in the region, by value, registering a CAGR of 7.75% during the forecast period, 2023-2029. The rapid pace of electronic technological innovation drives consistent demand for newer and faster electrical and electronic products. The surge in demand for technologically advanced consumer electronics and appliances, such as smartphones, laptops, and televisions, is expected to boost consumer electronics demand during the forecast period. The consumer electronics in the region is projected to reach USD 565.5 billion in 2027 from USD 518.0 billion in 2023. As a result, the increase in electrical and electronics production in the region is projected to drive the demand for PET resin in the future.
China to dominate Asia-Pacific PET consumption owing to demand from various industries
- Asia-Pacific accounted for 42.47% of the global consumption of polyethylene terephthalate resin in 2022. Polyethylene terephthalate is an important polymer in Asia-Pacific for various industries, including packaging.
- China is the largest consumer of this resin in the region owing to its growing packaging, automotive, and electronics industries. Packaging held a share of around 94.8% in 2022 and is driving the demand for polyethylene terephthalate resins in the country. The rising production in the packaging, automotive, and electrical and electronics industries is expected to drive the demand for polyethylene terephthalate resin in the country during the forecast period.
- India is the region's second-largest plastic packaging producer, and its demand for polyethylene terephthalate resins is increasing significantly due to growing packaging production. In 2022, the country produced 4,158,800 tons, a 3.97% increase over 2021. The country's vehicle production is also expanding, and it may amount to 33,300,764 units in 2023. These factors are expected to drive the demand for polyethylene terephthalate resins in the country.
- India is among the fastest-growing countries in terms of the use of polyethylene terephthalate resin. It is expected to register a CAGR of 6.49% by revenue during the forecast period (2023-2029), in line with the growing demand for resin in the country. For the promotion of the plastic industry in the country, the government has taken various industry-friendly policy initiatives, such as deregulating the petrochemical industry and allowing 100% FDI under the automatic route to facilitate fresh investments.
Asia-Pacific Polyethylene Terephthalate (PET) Market Trends
Rapid growth in ASEAN countries to foster electronics production
- The Asia-Pacific region saw an increase in electrical and electronics production revenue by 13.9% from 2020 to 2021. The electronics sector accounts for 20-50% of the total value of most Asian countries' exports. Consumer electronics such as televisions, radios, computers, and cellular phones are largely manufactured in the ASEAN region.
- ASEAN leads the production of hard drives, with over 80% of hard drives being manufactured in the region. Overall, the electrical and electronics (E&E) industry in ASEAN relies more on foreign inputs and technology than other industries, with 53% of E&E exports arising from foreign value added (FVA) or foreign inputs integrated into ASEAN’s E&E exports.
- Countries like Thailand and Malaysia lead in the production of electronics in the region. Thailand, home to one of the largest electronics assembly bases in Southeast Asia, leads in the production of hard drives, integrated circuits, and semiconductors. It ranks second in manufacturing air conditioning units and fourth in the global refrigerators market.
- The electronics industry has greatly benefitted from ASEAN's integrated production networks, which foster improved trade with larger Asian economies like China and Japan.
- China held an 11.2% share of global exports in electrical products and registered a growth of 5.8% in the export of digital products from 2019 to 2020. According to the Asian Development Bank, China provides a large market for electronics in the region. Countries such as Thailand, Japan, China, Malaysia, India, and the Philippines continue to lead the region in the production of electronics.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Rapid growth of civil aviation to drive the aerospace component production
- Growing FDI, coupled with supportive government initiatives, to drive the construction industry
- Chinese exports to help Asia-Pacific maintain its dominance in global PET trade
- Films and sheets to remain dominant during the forecast period
- Electric vehicles to boost the automobile market in the coming years
- Evolving consumer trends and growing e-commerce sector to amplify plastic packaging industry
- Higher growth expected in conjunction with crude oil prices
- The PET recycling rate is high in countries like China (94%) India (90%) and Japan (86%)
Asia-Pacific Polyethylene Terephthalate (PET) Industry Overview
The Asia-Pacific Polyethylene Terephthalate (PET) Market is fragmented, with the top five companies occupying 33.09%. The major players in this market are China Petroleum & Chemical Corporation, China Resources (Holdings) Co.,Ltd., Far Eastern New Century Corporation, Indorama Ventures Public Company Limited and Sanfame Group (sorted alphabetically).
Asia-Pacific Polyethylene Terephthalate (PET) Market Leaders
China Petroleum & Chemical Corporation
China Resources (Holdings) Co.,Ltd.
Far Eastern New Century Corporation
Indorama Ventures Public Company Limited
Sanfame Group
Other important companies include JBF Industries Ltd, Lotte Chemical, Reliance Industries Limited, Zhejiang Hengyi Group Co., Ltd., Zhejiang Zhink Group Co., Ltd..
*Disclaimer: Major Players sorted in alphabetical order.
Asia-Pacific Polyethylene Terephthalate (PET) Market News
- October 2022: Indorama Ventures Public Company Limited announced the opening of the largest PET recycling plant in partnership with Coca-Cola Beverages, with the goal of recycling approximately 2 billion additional used PET (polyethylene terephthalate) plastic bottles in the Philippines each year.
- April 2022: Indorama Ventures Public Ltd acquired Ngoc Nghia Industry, a leading PET packaging manufacturer.
- May 2021: Indorama Ventures Public Ltd planned to construct a new resin manufacturing facility in India to increase the production capacity of PET resin to 700 tons a day.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 15+ free charts, the section covers rare data on various end-user production trends including passenger vehicle production, commercial vehicle production, motorcycle production, aerospace components production, electrical and electronics production, and regional data for engineering plastics demand etc.
Asia-Pacific Polyethylene Terephthalate (PET) Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
-
4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
- 4.1.4 Electrical and Electronics
- 4.1.5 Packaging
-
4.2 Import And Export Trends
- 4.2.1 Polyethylene Terephthalate (PET) Trade
- 4.3 Price Trends
- 4.4 Form Trends
-
4.5 Recycling Overview
- 4.5.1 Polyethylene Terephthalate (PET) Recycling Trends
-
4.6 Regulatory Framework
- 4.6.1 Australia
- 4.6.2 China
- 4.6.3 India
- 4.6.4 Japan
- 4.6.5 Malaysia
- 4.6.6 South Korea
- 4.7 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
-
5.1 End User Industry
- 5.1.1 Automotive
- 5.1.2 Building and Construction
- 5.1.3 Electrical and Electronics
- 5.1.4 Industrial and Machinery
- 5.1.5 Packaging
- 5.1.6 Other End-user Industries
-
5.2 Country
- 5.2.1 Australia
- 5.2.2 China
- 5.2.3 India
- 5.2.4 Japan
- 5.2.5 Malaysia
- 5.2.6 South Korea
- 5.2.7 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
-
6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 China Petroleum & Chemical Corporation
- 6.4.2 China Resources (Holdings) Co.,Ltd.
- 6.4.3 Far Eastern New Century Corporation
- 6.4.4 Indorama Ventures Public Company Limited
- 6.4.5 JBF Industries Ltd
- 6.4.6 Lotte Chemical
- 6.4.7 Reliance Industries Limited
- 6.4.8 Sanfame Group
- 6.4.9 Zhejiang Hengyi Group Co., Ltd.
- 6.4.10 Zhejiang Zhink Group Co., Ltd.
7. KEY STRATEGIC QUESTIONS FOR ENGINEERING PLASTICS CEOS
8. APPENDIX
-
8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- PRODUCTION REVENUE OF AEROSPACE COMPONENTS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, ASIA-PACIFIC, 2017 - 2029
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, ASIA-PACIFIC, 2017 - 2029
- Figure 4:
- PRODUCTION REVENUE OF ELECTRICAL AND ELECTRONICS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 5:
- PRODUCTION VOLUME OF PLASTIC PACKAGING, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 6:
- IMPORT REVENUE OF POLYETHYLENE TEREPHTHALATE (PET) TRADE BY TOP COUNTRIES, USD, ASIA-PACIFIC, 2017 - 2021
- Figure 7:
- EXPORT REVENUE OF POLYETHYLENE TEREPHTHALATE (PET) TRADE BY TOP COUNTRIES, USD, ASIA-PACIFIC, 2017 - 2021
- Figure 8:
- ASIA-PACIFIC POLYETHYLENE TEREPHTHALATE (PET) MARKET, PRICE TRENDS, BY COUNTRY, USD PER KG, 2017-2021
- Figure 9:
- REVENUE OF POLYETHYLENE TEREPHTHALATE (PET) BY FORM TYPE, USD, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 10:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 11:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 12:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 13:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 14:
- VOLUME SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 15:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 16:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN AUTOMOTIVE INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 17:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN AUTOMOTIVE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 18:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN AUTOMOTIVE INDUSTRY BY COUNTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 19:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 20:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 21:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY COUNTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 22:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 23:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 24:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY BY COUNTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 25:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 26:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 27:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY BY COUNTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 28:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN PACKAGING INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 29:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN PACKAGING INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 30:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN PACKAGING INDUSTRY BY COUNTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 31:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 32:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 33:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY COUNTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 34:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY COUNTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 35:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 36:
- VOLUME SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 37:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 38:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, TONS, AUSTRALIA, 2017 - 2029
- Figure 39:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, USD, AUSTRALIA, 2017 - 2029
- Figure 40:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, AUSTRALIA, 2022 VS 2029
- Figure 41:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, TONS, CHINA, 2017 - 2029
- Figure 42:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, USD, CHINA, 2017 - 2029
- Figure 43:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, CHINA, 2022 VS 2029
- Figure 44:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, TONS, INDIA, 2017 - 2029
- Figure 45:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, USD, INDIA, 2017 - 2029
- Figure 46:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, INDIA, 2022 VS 2029
- Figure 47:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, TONS, JAPAN, 2017 - 2029
- Figure 48:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, USD, JAPAN, 2017 - 2029
- Figure 49:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, JAPAN, 2022 VS 2029
- Figure 50:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, TONS, MALAYSIA, 2017 - 2029
- Figure 51:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, USD, MALAYSIA, 2017 - 2029
- Figure 52:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, MALAYSIA, 2022 VS 2029
- Figure 53:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 54:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 55:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 56:
- VOLUME OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, TONS, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 57:
- VALUE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED, USD, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 58:
- VALUE SHARE OF POLYETHYLENE TEREPHTHALATE (PET) CONSUMED BY END USER INDUSTRY, %, REST OF ASIA-PACIFIC, 2022 VS 2029
- Figure 59:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, ASIA-PACIFIC, 2019 - 2021
- Figure 60:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2019 - 2021
- Figure 61:
- PRODUCTION CAPACITY SHARE OF POLYETHYLENE TEREPHTHALATE (PET) BY MAJOR PLAYERS, %, ASIA-PACIFIC, 2022
Asia-Pacific Polyethylene Terephthalate (PET) Industry Segmentation
Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Australia, China, India, Japan, Malaysia, South Korea are covered as segments by Country.
- PET has many applications in the packaging and electrical and electronics industries, including packaging foods and beverages, particularly convenience-sized soft drinks, water, coil forms, and electrical devices. Packaging and electrical and electronics industries accounted for 93.92% and 3.80%, respectively, of the revenue of the Asia-Pacific PET market in 2022.
- The packaging industry is the region's largest end-user industry for PET resin. Key factors influencing the region's plastic packaging industry include rising population, rising income levels, and changing lifestyles. The growth prospects of end-user segments such as FMCG, food and beverages, and pharmaceuticals are driving increased demand for the plastic packaging industry. Plastic packaging production in the region is expected to reach 90.7 million tons in 2029 from 70.9 million tons in 2023, registering a CAGR of 4.18%. As a result, the rising demand for packaging in the region is expected to drive the PET resin demand in the future.
- Electrical and electronics is expected to be the fastest-growing industry in the region, by value, registering a CAGR of 7.75% during the forecast period, 2023-2029. The rapid pace of electronic technological innovation drives consistent demand for newer and faster electrical and electronic products. The surge in demand for technologically advanced consumer electronics and appliances, such as smartphones, laptops, and televisions, is expected to boost consumer electronics demand during the forecast period. The consumer electronics in the region is projected to reach USD 565.5 billion in 2027 from USD 518.0 billion in 2023. As a result, the increase in electrical and electronics 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 | Australia |
China | |
India | |
Japan | |
Malaysia | |
South Korea | |
Rest of Asia-Pacific |
Market Definition
- End-user Industry - Building & Construction, Packaging, Automotive, Industrial Machinery, Electrical & Electronics, and Others are the end-user industries considered under the polyethylene terephthalate market.
- Resin - Under the scope of the study, virgin polyethylene terephthalate resin in primary forms such as liquid, powder, pellet, etc. are considered.
Keyword | Definition |
---|---|
Acetal | This is a rigid material that has a slippery surface. It can easily withstand wear and tear in abusive work environments. This polymer is used for building applications such as gears, bearings, valve components, etc. |
Acrylic | This synthetic resin is a derivative of acrylic acid. It forms a smooth surface and is mainly used for various indoor applications. The material can also be used for outdoor applications with a special formulation. |
Cast film | A cast film is made by depositing a layer of plastic onto a surface then solidifying and removing the film from that surface. The plastic layer can be in molten form, in a solution, or in dispersion. |
Colorants & Pigments | Colorants & Pigments are additives used to change the color of the plastic. They can be a powder or a resin/color premix. |
Composite material | A composite material is a material that is produced from two or more constituent materials. These constituent materials have dissimilar chemical or physical properties and are merged to create a material with properties unlike the individual elements. |
Degree of Polymerization (DP) | The number of monomeric units in a macromolecule, polymer, or oligomer molecule is referred to as the degree of polymerization or DP. Plastics with useful physical properties often have DPs in the thousands. |
Dispersion | To create a suspension or solution of material in another substance, fine, agglomerated solid particles of one substance are dispersed in a liquid or another substance to form a dispersion. |
Fiberglass | Fiberglass-reinforced plastic is a material made up of glass fibers embedded in a resin matrix. These materials have high tensile and impact strength. Handrails and platforms are two examples of lightweight structural applications that use standard fiberglass. |
Fiber-reinforced polymer (FRP) | Fiber-reinforced polymer is a composite material made of a polymer matrix reinforced with fibers. The fibers are usually glass, carbon, aramid, or basalt. |
Flake | This is a dry, peeled-off piece, usually with an uneven surface, and is the base of cellulosic plastics. |
Fluoropolymers | This is a fluorocarbon-based polymer with multiple carbon-fluorine bonds. It is characterized by high resistance to solvents, acids, and bases. These materials are tough yet easy to machine. Some of the popular fluoropolymers are PTFE, ETFE, PVDF, PVF, etc. |
Kevlar | Kevlar is the commonly referred name for aramid fiber, which was initially a Dupont brand for aramid fiber. Any group of lightweight, heat-resistant, solid, synthetic, aromatic polyamide materials that are fashioned into fibers, filaments, or sheets is called aramid fiber. They are classified into Para-aramid and Meta-aramid. |
Laminate | A structure or surface composed of sequential layers of material bonded under pressure and heat to build up to the desired shape and width. |
Nylon | They are synthetic fiber-forming polyamides formed into yarns and monofilaments. These fibers possess excellent tensile strength, durability, and elasticity. They have high melting points and can resist chemicals and various liquids. |
PET preform | A preform is an intermediate product that is subsequently blown into a polyethylene terephthalate (PET) bottle or a container. |
Plastic compounding | Compounding consists of preparing plastic formulations by mixing and/or blending polymers and additives in a molten state to achieve the desired characteristics. These blends are automatically dosed with fixed setpoints usually through feeders/hoppers. |
Plastic pellets | Plastic pellets, also known as pre-production pellets or nurdles, are the building blocks for nearly every product made of plastic. |
Polymerization | It is a chemical reaction of several monomer molecules to form polymer chains that form stable covalent bonds. |
Styrene Copolymers | A copolymer is a polymer derived from more than one species of monomer, and a styrene copolymer is a chain of polymers consisting of styrene and acrylate. |
Thermoplastics | Thermoplastics are defined as polymers that become soft material when it is heated and becomes hard when it is cooled. Thermoplastics have wide-ranging properties and can be remolded and recycled without affecting their physical properties. |
Virgin Plastic | It is a basic form of plastic that has never been used, processed, or developed. It may be considered more valuable than recycled or already used materials. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms