Dublin, March 05, 2025 (GLOBE NEWSWIRE) -- The "Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The PET & PBT resin market has been segmented based on Type (Transparent & Non-Transparent PET, Recycled PET), PET Application (Bottles, Films, Food Packaging, Other Applications) PBT Application (Electrical & Electronics, Automotive, Consumer Appliances, Other Applications) and by Region.
The combined global PET & PBT resin market size was USD 47.99 billion in 2024, and it is anticipated to be worth USD 64.01 billion by 2029.
The PET & PBT resin market is projected to register a CAGR of 6% and 5.3% respectively between 2024 and 2029, in terms of value. The PET & PBT resin market size is projected to reach USD 57.64 and 6.37 billion respectively by 2029 at a CAGR of 6% and 5.3% from USD 43.06 and 4.93 billion respectively in 2024. The Transparent & Non-Transparent PET, by type segment is estimated to account for the largest share in terms of value of the PET resin market in 2023. rPET, by type likely to be the fastest growing type of PET resin market in terms of value.
Recycled polyethylene terephthalate (rPET) is an eco-friendly material formed from the recycling of post-consumer PET products such as bottles and containers. rPET helps in minimizing plastic waste, lowering the carbon footprint, and providing for the structure of a circular economy. The properties of rPET are similar to those of virgin PET, allowing for its use in packaging, textiles, and automotive parts. The increasing concern for sustainability has lent support to rPET with industries and consumers now advocating the use of recycled materials to reduce dependence on virgin materials.
PBT (Polybutylene Terephthalate) is a high-viewed, engineering thermoplastic that offers excellent load-bearing properties, chemical resistance, and dimensional stability. PBT is used in multiple applications, including automobile, electrical, and electronics, due to the material's durability in high temperature. It is also an electrical insulator - in the application of connectors, switches, and housings which require protection properties. As a growing need for lightweight and durable materials arises, PBT is increasingly coming into its own in processing parts for automotive and consumer electronics.
Electrical and electronics, by application is fastest growing application segment of PBT resin market
One of the fastest-growing application areas for PBT resin is in the electrical and electronics segment due to its characteristics of electrical insulation and high-temperature resistance, as well as dimensional stability. Applications where PBT is being used increasingly include connectors, switches, and circuit boards and housings for consumer and automotive electronics and communication devices. The demand for smaller, highly reliable, and durable electronic components is therefore propelling the growth of PBT in this sector owing to its versatility and performance in applications that are constantly under effort. The drive toward energy-efficient technologies is also serving as a catalyst for the adoption of PBT in electronics.
Asia Pacific, by region is forecasted to be the fastest growing segment of PET & PBT resin market during the forecast period.
Asia Pacific will be the fastest-growing region for PET & PBT resin markets during the forecast period due to rapid industrialization, expanding manufacturing capabilities, and increasing demand in packaging, automotive, and electronics applications. Demand for consumer goods, especially beverages and electronics, is boosted in this region by its large population and growing middle-class population, thus increasing the consumption of PET & PBT resins. Furthermore, government initiatives, infrastructure, and cost-effective production in countries such as India and China are driving growth for the regional market.
Competitive Landscape
The key companies profiled in this report are Indorama Ventures Public Company Limited (Thailand), Alpek, S.A.B. de C.V. (Mexico), SABIC (Saudi Arabia), BASF SE (Germany), Lotte Chemical Corporation (South Korea), Mitsubishi Chemical Group Corporation (Japan), and Jiangsu Sanfangxiang Group Co., Ltd. (China).
This report provides insights on the following:
- Analysis of key drivers (PET is a highly recyclable plastic resin, Increase in demand for PET in packaging sector) restraints (Fluctuations in raw material prices), opportunities (Increasing demand for sustainable packaging solutions), and challenges (High costs of recycled plastics) influencing the growth of the PET & PBT resin market.
- Product Development/Innovation: Detailed insight of upcoming technologies, research & development activities, and new product launch in the PET & PBT resin market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the PET & PBT resin market across varied regions.
- Market Diversification: Exclusive information about the new products & service untapped geographies, recent developments, and investments in PET & PBT resin market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Indorama Ventures Public Company Limited (Thailand), Alpek, S.A.B. de C.V. (Mexico), SABIC (Saudi Arabia), BASF SE (Germany), Lotte Chemical Corporation (South Korea), Mitsubishi Chemical Group Corporation (Japan), and Jiangsu Sanfangxiang Group Co., Ltd. (China) among other in the PET & PBT resin market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 308 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $47.99 Billion |
| Forecasted Market Value (USD) by 2029 | $64.01 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Key Topics Covered:
Premium Insights
- Attractive Opportunities for Players in PET & PBT Resin Market
- Asia-Pacific PET & PBT Resin Market, by Country, 2023
- PET Resin Market, by Region
- PBT Resin Market, by Region
- PET Resin Market, by Type
- PET Resin Market, by Application
- PBT Resin Market, by Application
- PET Resin Market, by Key Country
- PBT Resin Market, by Key Country
Market Dynamics
Drivers
- Highly Recyclable Pet Plastic Resin
- Increase in Demand for Pet in Packaging Sector
- Technological Advancements in Pet Packaging Sector
- Laws and Regulations Enforced by Governments
- Burgeoning Demand for PBT in Electrical & Electronics Industry
- Increasing Demand for Lightweight Vehicles
Restraints
- Fluctuations in Raw Material Prices
- Absence of Required Framework for Plastic Waste Collection and Segregation
- Limited Numbers of Treatment Plants and Lack of Expertise in Recycling Pet Waste
Opportunities
- Increasing Demand for Sustainable Packaging Solutions
- Expansion to Emerging Markets
Challenges
- High Costs of Recycled Plastics
- Existence of Alternate Products with Identical Properties
Case Study Analysis
- High-Performance Automotive Connectors
- Advancing Power-Pole Technology
- Advanced Material Adoption for Lightweight Automotive Design
PET Resin Market, by Type
- Transparent & Non-Transparent Pet
- Effective Barrier Against Oxygen, Water, Carbon Dioxide, and Nitrogen for Packaged Food to Boost Market
- Recycled Pet
- Reuse as Packaging Material to Drive Market
PET Resin, by Application
- Bottles
- Enhancement of Quality of Ready-To-Drink Beverages and Flavored Water to Boost Market Growth
- Films
- Demand for Food and Non-Food-Film Applications to Drive Market
- Food Packaging
- Chemical Inertness and Other Physical Properties to Propel Market
- Other PET Resin Applications
PBT Resin Market, by Application
- Electrical & Electronics
- Chemical & Abrasion Resistance and Flame Retardance Through Additives to Fuel Market
- Automotive
- Electrical Properties, Thermal Stability, and Superior Chemical Resistance to Propel Market
- Consumer Appliances
- Excellent Chemical Resistance, Surface Quality, and Dimensional Stability to Drive Growth
- Other PBT Resin Applications
Company Profiles
Major Players
- Indorama Ventures Public Company Limited
- Alpek SAB. De C.V.
- Sabic
- BASF SE
- Lotte Chemical Corporation
- Mitsubishi Chemical Group Corporation
- Jiangsu Sanfangxiang Group Co. Ltd.
- Far Eastern New Century Corporation
- Nan Ya Plastics Corporation
- Reliance Industries Limited
Other Players
- Dupont De Nemours, Inc.
- Toray Industries, Inc.
- Lanxess
- Celanese Corporation
- Chang Chun Group
- Jbf Industries Limited
- Evonik Industries AG
- Sumilon Group
- Mitsui Chemicals, Inc.
- Sk Chemicals
- Iwatani Corporation
- Kolon Industries, Inc.
- Hitemp Polymers Pvt. Ltd.
- Grupa Azoty SA
- Plastipak Holdings, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/3pkt5g
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