China PET & PBT Resins Market Forecast and Opportunities, 2020
Polyethylene Terephthalate (PET) is a plastic polymer produced by reacting two raw materials, Purified Terephthalic Acid (PTA) & Monoethylene Glycol (MEG); whereas Polybutylene Terephthalate (PBT) is manufactured from PTA and BDO (1, 4-butanediol). PET & PBT resins demand in China has been witnessing robust growth over the last five years, owing to large market potential and increasing usage in end user industries such as packaging films/sheets, bottling, and electronic and automotive components. Increase in demand for PET resins is primarily driven by the replacement of traditional packaging materials like glass, aluminum, paper and metal, coupled with continuing growth in FMCG sector. The demand for PBT resins is growing on account of its increasing use in manufacturing electronic and automobile components.
According to “China PET & PBT Resins Market Forecast & Opportunities, 2020”, PET & PBT resins market in China is projected to cross USD11.6 billion by 2020. East China provinces such as Shanghai, Anhui, Fujian, Jiangsu, Jiangxi, etc. account for the largest demand for PET and PBT resins in the country. Jiangsu Sanfangxiang Group Co., Ltd. is the largest PET resin manufacturer operating in China, followed by China Resources Packaging Materials Co., Ltd. and Sinopec Yizheng Chemical Fibre Company Limited. Few of the major PBT resin playersin China include Xinjiang Blue Ridge Tunhe Polyester Co. Ltd, China National BlueStar (Group) Co, Ltd., BASF, SABIC and Jiangsu Heshili New Material Co., Ltd. “China PET & PBT Resins Market Forecast & Opportunities, 2020” discusses the following aspects related to PET & PBT resins market in China:
1. Shinkong Synthetic Fibers Corporation
2. Zhejiang Wankai New Materials Co., Ltd
3. Xinjiang Blue Ridge Tunhe Polyester Co.,Ltd
4. China National BlueStar (Group) Co, Ltd.
5. China Resources Packaging Materials Co., Ltd.
6. Jiangsu Heshili New Material Co., Ltd.
7. BASF (China) Co. Ltd./Toray Industries Inc.
8. Saudi Basic Industries Corporation (SABIC)
9. Sinopec Yizheng Chemical Fibre Company Limited
10. Jiangsu Sanfangxiang Group Co., Ltd.