Asia-Pacific Polyethylene Terephthalate (PET) Market - Growth, Trends, and Forecast (2018 - 2023)

The market is segmented by Product Type (Bottles, Films, and Sheets, and Other Product Types), End-user Industry (Food and Beverage, Automotive, Electrical and Electronics, Healthcare, Consumer Goods, and Other End-user Industries), and Geography

Market Snapshot

Asia-Pacific PET market summary
Study Period:

2016-2024

Base Year:

2018

Key Players:

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Market Overview

The Asia-Pacific Polyethylene Terephthalate (PET) market is expected to grow at a CAGR of around 5.86% during the forecast period of 2019 – 2024. Major factors driving the market studied are the growing food and beverage industry, and the increasing demand for sustainable and recyclable materials.

  • Stringent regulations regarding the usage of PET, and increasing usage of substitute products, such as high-density polyethylene are expected to hinder the growth of the market studied.
  • The advent of bio-based PET and shift toward flexible packaging are likely to act as an opportunity in the future.

Scope of the Report

The Asia-Pacific polyethylene terephthalate (PET) market report includes:

Product Type
Bottles
Films and Sheets
Other Product Types
End-user Industry
Food and Beverage
Automotive
Electrical and Electronics
Healthcare
Consumer Goods
Other End-user Industries
Geography
China
India
Japan
South Korea
Australia & New Zealand
Rest of Asia-Pacific

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Key Market Trends

Growing Food & Beverage Industry

  • This consumption can be credited to the fact that most packaging materials, such as bottles and containers, use PET. The different types of packaging materials used by the food & beverage industry are rigid plastic packaging, flexible plastic packaging, beverage cans, etc.
  • The PET is formed by combining purified terephthalic acid or dimethyl terephthalate and modified ethylene glycol. This makes PET high impact resistant and provides food contact safety. Therefore the market for PET is driven by its easy-to-handle nature, durability, reliability, and lightweight. The food & beverage industry is the largest consumer of packaging materials.
  • PET in the food and beverage industry is commonly used for packaging. The three major packaging applications of PET include containers (bottles, jars and tubs), thin oriented films (bags and snack food wrappers), and semi-rigid sheet for thermoforming (trays and blisters).
  • The Food and Drug Administration (FDA) has also approved PET as safe for food and beverage contact. Thermoformed type of PET is highly advantageous, as it can be formed according to the required shape.
  • Therefore the above factors are expected to boost the consumption of PET in the food & beverage industry during the forecast period.
Asia-Pacific PET market- End-user industry

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China to Dominate the Market

  • China is one of the largest consumers of polyethylene terephthalate (PET) globally. The abundant availability of raw materials and low cost of production have been supporting the production growth of the engineering plastics, such as PET in the country since the past few years.
  • The consumption of PET has increased drastically in the recent past due to the growing population, increasing urbanization, and substitution of many metals in various industries, such as automotive, consumer appliances, etc.
  • The use of engineering plastic products in the packaging sector (PET containers, bottles, etc.) is increasing at a tremendous rate, owing to their advantages over the conventional packaging plastics used. The demand from industries like food and beverage, consumer goods, and others for packing materials is increasing in China, owing to the increasing exports, as well as domestic consumption.
  • The PET market for food and beverage are also being boosted as the living standard in China increases along with consumption power, and people venture into packaged food, and ready-to-eat and ready-to-cook food, as well as a variety of beverages, including health drinks.
  • In 2018, China produced the highest number of motor vehicles globally that is 27,809,196 units. However, the market registered a decline over 2017; but it is projected to recover over the forecast period.
  • Thus from the aforementioned points, the prolific Chinese market has attracted many PET manufacturers in the country, catering to the market in China and also to other countries of the Asia-Pacific region.
Asia-Pacific PET -China

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Competitive Landscape

The Asia-Pacific polyethylene terephthalate (PET) market is a consolidated market. The major players include Lotte Chemical Corporation, Reliance Industries Limited, Far Eastern New Century Corporation, Indorama Ventures Public Company Limited, and Sinopec Group.

Major Players

  1. Lotte Chemical Corporation
  2. Reliance Industries Limited
  3. Far Eastern New Century Corporation
  4. Indorama Ventures Public Company Limited
  5. Sinopec Group

* Complete list of players covered available in the table of contents below

Asia-Pacific PET - concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Food and Beverage Industry

      2. 4.1.2 Demand for Sustainable and Recyclable Materials

    2. 4.2 Restraints

      1. 4.2.1 Stringent Regulations Regarding the Usage of PET

      2. 4.2.2 Increasing Usage of Substitute Products, Such as High-density Polyethylene

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Bottles

      2. 5.1.2 Films and Sheets

      3. 5.1.3 Other Product Types

    2. 5.2 End-user Industry

      1. 5.2.1 Food and Beverage

      2. 5.2.2 Automotive

      3. 5.2.3 Electrical and Electronics

      4. 5.2.4 Healthcare

      5. 5.2.5 Consumer Goods

      6. 5.2.6 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 China

      2. 5.3.2 India

      3. 5.3.3 Japan

      4. 5.3.4 South Korea

      5. 5.3.5 Australia & New Zealand

      6. 5.3.6 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 China Resources Chemical Materials Technology Co. Ltd

      2. 6.4.2 Eastman Chemical Company

      3. 6.4.3 Far Eastern New Century Corporation

      4. 6.4.4 Hengli Group Co. Ltd

      5. 6.4.5 Hengyi Petrochemical Co. Ltd

      6. 6.4.6 Indorama Ventures Public Company Limited.

      7. 6.4.7 JBF Industries Ltd

      8. 6.4.8 Jiangsu Sanfangxiang Group

      9. 6.4.9 LOTTE Chemical CORPORATION.

      10. 6.4.10 OCTAL

      11. 6.4.11 Reliance Industries Ltd

      12. 6.4.12 Saudi Basic Industries Corporation (SABIC)

      13. 6.4.13 Sinopec Group

      14. 6.4.14 Zhejiang Zhink Group Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Advent of Bio-based PET

    2. 7.2 Shift toward Flexible Packaging

**Subject to Availability

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