Market Size of Polyethylene Naphthalate Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 1.74 Billion |
Market Size (2029) | USD 2.31 Billion |
CAGR (2024 - 2029) | 5.90 % |
Fastest Growing Market | North America |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Polyethylene Naphthalate Market Analysis
The Polyethylene Naphthalate Market size is estimated at USD 1.74 billion in 2024, and is expected to reach USD 2.31 billion by 2029, growing at a CAGR of 5.90% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns around the world, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, thereby restoring the growth trajectory of the market.
- Major factors driving the market studied are rising demand in packaging applications and increasing demand in the electronics industry.
- On the flip side, high manufacturing costs are the major restraint that hinders the growth of the market.
- The growing application of polyethylene naphthalate in solar cell protection is expected to offer various lucrative opportunities for the growth of the market.
- By application, the packaging segment is expected to dominate the polyethylene naphthalate market owing to its high durability and resistance to chemicals & solvents.
- North America region dominated the market across the globe with the largest consumption from countries such as United States, Canada and Mexico.
Polyethylene Naphthalate Industry Segmentation
Polyethylene Naphthalate is a type of polyester that has properties such as oxygen barrier, hydrolytic stability, and tensile strength. It expands the application range of polyester into more demanding end uses such as rigid and flexible packaging, industrial fiber, and film for electrical, light management, data storage, and imaging applications due to its higher stiffness, moisture, gas, and light barrier, as well as thermal, electrical, and chemical resistance. The polyethylene naphthalate market is segmented by application and geography. By application, the market is segmented into beverage bottling, packaging, electronics, rubber tires, and others. The report also covers the market size and forecasts for the polyethylene naphthalate market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done in revenue (USD).
Application | |
Beverage Bottling | |
Packaging | |
Electronics | |
Rubber Tires | |
Others |
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Polyethylene Naphthalate Market Size Summary
The polyethylene naphthalate market is poised for significant growth, driven by its increasing application in packaging and electronics. This polyester, known for its high resistance to chemicals and solvents, as well as its mechanical strength, is becoming increasingly popular in packaging due to its superior barrier capabilities and reduced permeability to oxygen and water vapor. These properties make it ideal for food preservation, reducing oxidation effects in containers, and simplifying packaging by minimizing the number of layers required. The packaging segment is expected to dominate the market, with rising demand in emerging economies and sectors such as flexible packaging in low-income countries. The market's recovery post-COVID-19 disruptions has been bolstered by the growing demand for polyethylene naphthalate in solar cell protection, presenting lucrative opportunities for future growth.
North America is anticipated to lead the polyethylene naphthalate market, with the United States and Canada at the forefront due to their robust end-user industries like packaging and electronics. The material's high mechanical and thermal properties make it suitable for electronic parts, while its use in electric vehicles and high-performance rubber tires is expected to further drive demand. The approval of polyethylene naphthalate for food packaging by the United States Food and Drug Administration adds to its market potential. The market is highly consolidated, with major players such as Dupont Teijin Films and Polyonics holding significant shares. Government support and initiatives aimed at increasing the use of recyclable materials and promoting electric vehicles are also contributing to the market's growth trajectory.
Polyethylene Naphthalate Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Rising Demand in Packaging Applications
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1.1.2 Increasing Demand in Electronics Industry
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1.1.3 Other Driver
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1.2 Restraints
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1.2.1 High Manufacturing Cost
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porters Five Force Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Application
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2.1.1 Beverage Bottling
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2.1.2 Packaging
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2.1.3 Electronics
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2.1.4 Rubber Tires
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2.1.5 Others
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle East and Africa
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Polyethylene Naphthalate Market Size FAQs
How big is the Polyethylene Naphthalate Market?
The Polyethylene Naphthalate Market size is expected to reach USD 1.74 billion in 2024 and grow at a CAGR of 5.90% to reach USD 2.31 billion by 2029.
What is the current Polyethylene Naphthalate Market size?
In 2024, the Polyethylene Naphthalate Market size is expected to reach USD 1.74 billion.