Global Polyethylene Naphthalate Market 2017-2021
About Polyethylene Naphthalate
Polyester resins are unsaturated synthetic resins produced from poly alcohols and dibasic organic acids. Vendors of sheet molding and bulk molding, the toner of laser printers, and wall panels fabricated from polyester resins reinforced with fiberglass, majorly require polyester resin as a key component of the manufacturing process. PEN is a new generation polyester polymer manufactured from naphthalene-2,6-dicarboxylate, and ethylene glycol, offering higher barrier properties, higher oxygen barrier, higher heat resistance, and enhanced dimensional stability.
Technavio’s analysts forecast the global polyethylene naphthalate market to grow at a CAGR of 8.10% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global polyethylene naphthalate market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Polyethylene Naphthalate Market 2017-2021
Technavio recognizes the following companies as the key players in the global polyethylene naphthalate market: Dupont Teijin Films, Polyonics, SKC, Sumitomo Chemical, and TORAY INDUSTRIES.
Other Prominent Vendors in the market are: 3M, BP, CBC, DFT DuraFiber Technologies, FE Thin Films, GTS Flexible, KOLON PLASTICS, PPI Adhesive Products, SASA, Shell Chemical, SMP Corporation, Thermo Fisher Scientific, and Teraoka Seisakusho.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rising application in solar cell protection. The increase in R&D activities by major vendors has led to the demand for PEN from various applications such as solar cell protection. PEN is used as a substrate for new solar cells. The transparency properties of PEN make it suitable for the formation of superstrates.”
According to the report, one driver in the market is growing demand from the packaging industry. PEN is used widely in flexible food packaging. PEN offers superior barrier properties making it suitable for bottling beverages that are vulnerable to oxidation such as carbonated drinks, beer, and wine. It also provides superior durability required for numerous refilling cycles, and survives numerous high-temperature washes, which aids in longer shelf life. It is used in food contact applications due to its anti-scalping property. Crockery manufactured from PEN can survive rough handling and numerous instances of high-temperature washing.
Further, the report states that one challenge in the market is volatile price of raw materials and inadequate feedstock. In recent years, profoundly precarious costs of commodities have increased the complexity of the financial pressure. Subsequent to the global crisis, the cost of the crude materials has been fluctuating, which is affecting the cost of raw materials derived from crude oil for manufacturing other products. Moreover, prices of consumer-packaged goods witnessed an increase of double digits. Major economies are yet to recover from the global crisis, with some still facing the same situation and with others having recovered from the crisis.
Dupont Teijin Films, Polyonics, SKC, Sumitomo Chemical, and TORAY INDUSTRIES, 3M, BP, CBC, DFT DuraFiber Technologies, FE Thin Films, GTS Flexible, KOLON PLASTICS, PPI Adhesive Products, SASA, Shell Chemical, SMP Corporation, Thermo Fisher Scientific, and Teraoka Seisakusho.