Polyethylene Terephthalate (PET) Compounding Market Size (2024 - 2029)

The Polyethylene Terephthalate (PET) Compounding market is projected to experience growth driven by increasing demand in packaging applications, despite challenges posed by the COVID-19 pandemic. This market's expansion is supported by the material's properties, making it ideal for packaging food and beverages due to its cleanliness, strength, lightweight nature, and dimensional stability. The Asia-Pacific region is anticipated to dominate the market due to its significant consumption of PET compounding products.

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Market Size of Polyethylene Terephthalate (PET) Compounding Industry

polyethylene terephthalate pet compounding - market summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Polyethylene Terephthalate (PET) Compounding Market Major Players

*Disclaimer: Major Players sorted in no particular order

Polyethylene Terephthalate (PET) Compounding Market Analysis

The Polyethylene Terephthalate (PET) Compounding market is expected to develop at a CAGR of over 4% during the forecast period. The major factor driving the growth of the polyethylene terephthalate compounding market is the increasing demand from the packaging applications. On the flip-side, unfavorable conditions arising due to the sudden outbreak of COVID-19 is anticipated to foil the growth of the market studied.

  • Polyethylene Terephthalate (PET) Compounding products are extensively utilized for packaging of numerous food and refreshments as it is clean, solid, lightweight, holds the freshness of the items, and doesn't break, and dimensionally stable material. It is impervious to water, chemical compounds, and non-harmful material that can be easily reused.
  • Asia-Pacific is expected to be the largest market due to the large-scale consumption of polyethylene terephthalate (PET) compounding products in the region.

Polyethylene Terephthalate (PET) Compounding Industry Segmentation

The Polyethylene Terephthalate (PET) Compounding Market report includes:

End-User
Packaging
Electrical & Electronics
Industrial Machinery
Automotive
Construction
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Polyethylene Terephthalate (PET) Compounding Market Size Summary

The Polyethylene Terephthalate (PET) Compounding market is poised for significant growth, driven primarily by the increasing demand from packaging applications. PET is favored in the packaging sector due to its properties such as being clean, solid, lightweight, and capable of preserving the freshness of products. Its resistance to water and chemical compounds, along with being non-toxic and easily recyclable, makes it an ideal choice for packaging food and beverages, particularly water and carbonated drinks. Despite the positive growth trajectory, the market faces challenges from the adverse impacts of the COVID-19 pandemic, which could hinder its expansion.

The Asia-Pacific region is anticipated to be the largest market for PET compounding, attributed to its extensive consumption in various industries. The region's dominance is supported by its substantial contribution to the global bottled water business and significant construction expenditure, with countries like China, India, and Indonesia playing pivotal roles. The market is characterized by a consolidated landscape, with key players such as BASF SE, DuPont, SABIC, Vikas Ecotech Ltd, and RTP Company driving innovation and competition. These factors collectively suggest a robust growth outlook for the PET compounding market during the forecast period.

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

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Packaging Industry

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 End-User

      1. 2.1.1 Packaging

      2. 2.1.2 Electrical & Electronics

      3. 2.1.3 Industrial Machinery

      4. 2.1.4 Automotive

      5. 2.1.5 Construction

      6. 2.1.6 Others

    2. 2.2 Geography

      1. 2.2.1 Asia-Pacific

        1. 2.2.1.1 China

        2. 2.2.1.2 India

        3. 2.2.1.3 Japan

        4. 2.2.1.4 South Korea

        5. 2.2.1.5 Rest of Asia-Pacific

      2. 2.2.2 North America

        1. 2.2.2.1 United States

        2. 2.2.2.2 Canada

        3. 2.2.2.3 Mexico

      3. 2.2.3 Europe

        1. 2.2.3.1 Germany

        2. 2.2.3.2 United Kingdom

        3. 2.2.3.3 France

        4. 2.2.3.4 Italy

        5. 2.2.3.5 Rest of Europe

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest of South America

      5. 2.2.5 Middle-East and Africa

        1. 2.2.5.1 Saudi Arabia

        2. 2.2.5.2 South Africa

        3. 2.2.5.3 Rest of Middle-East and Africa

Polyethylene Terephthalate (PET) Compounding Market Size FAQs

The Polyethylene Terephthalate (PET) Compounding Market is projected to register a CAGR of 4% during the forecast period (2024-2029)

BASF SE, DuPont, SABIC, Vikas Ecotech Ltd and RTP Company are the major companies operating in the Polyethylene Terephthalate (PET) Compounding Market.

Polyethylene Terephthalate (PET) Compounding Report Snapshots

Polyethylene Terephthalate (PET) Compounding Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)