North America Polyethylene Teraphtalate (PET) Market - Segmented by Product type, Industry and Geography - Trends and Forecasts (2015-2020)
Replacement of traditional packaging applications and reduced atmospheric emissions are the reasons for increase in the demand of Polyethylene Terephthalate (PET) market.
The PET market is estimated at XX million tonnes in 2015 and is expected to grow at a CAGR of XX%, over the next six years to reach XX million tonnes by 2020. North America, is expected to grow considerably, owing to the increasing urbanization between 2015 and 2020.
The US emerged as the driving factor for PET market, contributing about XX% share, of the total North American demand in terms of consumption. The increased demand from the automotive and electrical & electronic industries in US is expected to drive the market.
About 72% of the PET resin demand was from the bottle application, driven by the beverage bottles for mineral water, carbonated soft drinks, ready to drink tea, and functional, dairy, and energy drinks. It is expected that light weight PET bottle trend will continue in future as it is a cost saving measure.
Polyethylene terephthalate (PET) are used in an increasing number of markets from Packaging, Automotive, Electrical & electronics, Consumer Appliances and others.
The key drivers of PET industry are population growth, rise in disposable income, urbanization in developing economies, and growing fast moving consumer goods, and restraint such as being a capital and technology intensive industry.
Demand for PET is rising with polyester and food and beverages industries determining market behavior.
The market is and will be characterized by excessive capacity bringing it to oversupply. The influence of PET performs sector is decreasing as packaging industry witnesses change to lighter-weighted bottles and carbonated drinks consumption decline (especially in North America), besides the share of recycled material application is growing
What the report contains
The report elucidates the situation of polyethylene tertraphthalate (PET) around the world and studies the markets of the PET product type which include Bottles, Films, Food Packaging and others. The study clarifies that the bottles currently dominate the PET market and are expected to dominate in the future also.
Lastly, the report is divided by countries - United States, Canada, Mexico and Others; where-in the market share of each region is analyzed and estimates are provided for the next 5 years. The various applications of polyethylene tertraphthalate (PET) have been discussed in detail in addition to a comprehensive overview of the market.
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