Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The latest market research publication on the Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) resins sector is now available, providing a comprehensive analysis of current trends and future market growth projections. The report covers the robust expansion of these resins, notably within packaging and bottling industries, as well as the increasing adoption of eco-friendly practices and innovative product advancements.
Focusing on global and regional market strategies, the newly released market evaluation offers detailed insight into the PET and PBT resins industry, which is witnessing significant growth driven by the rising popularity of sustainable and recyclable materials. This research underscores the major factors influencing the PET & PBT resins market trajectory and provides an in-depth examination of market share, statistics, and opportunities shaping the future of the industry.
As per the report, the global market for PET & PBT resins is poised to grow from $44.17 billion in 2023 to $48.93 billion in 2024, achieving a robust CAGR of 10.8%. This remarkable growth is primarily due to the heightened demand for lightweight, high-performance plastics in numerous applications, spanning packaging, automotive, and electrical sectors. The study also anticipates the market to surge to $73.47 billion by 2028, supported by a continued CAGR of 10.7%.
Key trends identified in the analysis include:
- The advent of bio-based and biodegradable PET and PBT resins that resonate with global sustainability goals.
- Adoption of smart and self-healing resin technologies enhancing product durability and lifecycle.
- Strategic acquisitions by major companies to augment their market presence and expand their product lines.
- Increased usage of PET in the packaging sector, capitalizing on its durability and clarity.
- Product innovations focusing on reducing carbon footprints and enhancing recyclability, such as the introduction of PBT resins derived from upcycled PET.
Significant industry moves such as Alpek's acquisition of OCTAL Holding SAOC further consolidate the market, positioning key players at the forefront of the industry's dynamic landscape. The sector continues to witness substantial advancements in Asia-Pacific, marking it as the largest region driving PET & PBT resins market expansion.
The extensive market insights provided in this comprehensive report offer valuable guidance to industry stakeholders, enabling them to strategically navigate the intricacies of the PET and PBT resins marketplace. It is an essential resource for anyone looking to understand the intricacies and growth potential within the global and regional markets.
A selection of companies mentioned in this report includes
- Saudi Basic Industries Corporation
- BASF SE
- Indorama Ventures Limited
- Mitsubishi Chemical Corporation
- Toray Industries Inc.
- Koninklijke DSM N.V.
- Jiangsu Sanfangxiang Group Co.Ltd.
- M&G Chemicals SA
- DowDuPont Inc.
- Nan Ya Plastics Corporation
- Reliance Industries Limited
- Far Eastern New Century Corporation
- RTP Company Inc.
- Kolon Plastics Inc.
- Celanese Corporation
- Distrupol Ltd.
- Indorama Ventures Limited
- Alpek
- Lanxess Corporation
- LyondellBasell Industries N.V.
- Eastman Chemical Company
- Formosa Plastics Group
- JBF Industries Ltd.
- Grupo Kimex S.A. de C.V.
- Polyplex Corporation Ltd.
- Chang Chun Group
- Hengli Group Co. Ltd.
- Wuxi Xingsheng New Material Technology Co.Ltd.
- China National BlueStar (Group) Co Ltd.
- Covestro AG
- Celanese Corporation
- Royal DSM N.V.
- DowDuPont Inc.
For more information about this report visit https://www.researchandmarkets.com/r/4cd5eu
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