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 |
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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.
