Market Size of Middle-East and Africa Polyethylene Terephthalate (PET) Resin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.50 % |
| Market Concentration | High |
Major Players_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
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MEA Polyethylene Terephthalate (PET) Resin Market Analysis
The Middle East and Africa polyethylene terephthalate (PET) resin market is expected to reach over 2,990 tons by the end of this year and is estimated to grow at a CAGR of over 4.5% during the forecast period.
COVID-19 impacted negatively the Middle East and Africa polyethylene terephthalate resin market growth. However, the surging demand for PET films in the automotive industry has propelled industry growth.
- The growing food and beverage industry and increasing emphasis on recycling are expected to drive the market during the forecast period.
- Stringent regulations regarding the usage of PET and the increasing usage of alternative products may hinder the market growth.
- Increasing use of bio-based PET products is projected to create future market growth opportunities.
- Saudi Arabia is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
