According to a new report published by UnivDatos Markets Insights, the Crystalline Polyethylene Terephthalate Market was valued at more than USD xx million in 2020 and is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Manufacturing process (Extrusion, Molding); Application (Trays, Cups, Films/Sheets, Bottles and Others); End user (Food & Beverages, Pharmaceuticals, Automotive and Others) Region/Country.

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The crystalline polyethylene terephthalate market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the crystalline polyethylene terephthalate market. The crystalline polyethylene terephthalate market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the crystalline polyethylene terephthalate market at the global and regional levels.

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Market Overview

The global crystalline polyethylene terephthalate can be attributed to the rising demand for sustainable packaging material and increasing demand for food majorly through online mode leading to further demand for food packaging which rising the adoption of inorganic growth strategies among key industry players across the globe. For instance, In Sep. 2022, Eastman to advance a circular future for healthcare packaging with key collaboration by announcing an agreement with Ethicon, a MedTech company to source raw material for its medical device sterile-barrier packaging. The companies worked closely to chart a path toward creating a more circular future for packaging of medical devices, driving landfill diversion and reducing carbon emissions. Furthermore, the rise in demand contributes to the enhanced mechanical properties of PET termed as an extremely versatile engineering-grade plastic possessing excellent chemical and thermal resistance. PET itself exhibits a high melting point which is one of the main reasons why the polymer can retain its properties at high temperatures.

Some of the major players operating in the market Eastman Chemical Co, Dow, Far Eastern New Century Corp, Indorama Ventures PCL, SABIC (Saudi Basic Industries Corporation), PolyQuest, Inc., Teijin Ltd, Delta-Engineering, Treform Packaging AB, and Petrotemex.

COVID-19 Impact

The pandemic has had an impact on the industrial sector, particularly the food & beverage industry due to temporary shutdowns. As a result, the market for crystalline polyethylene terephthalate is experiencing decreased growth. The global crystalline polyethylene terephthalate market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated. The COVID-19 pandemic has had an impact on the crystalline polyethylene terephthalate market, with most industrial activities being temporarily halted. As a result, it has had an impact on demand and the supply chain of the crystalline polyethylene terephthalate market, limiting growth in 2020.

·         Based on the application, the market is fragmented into trays, cups, films/sheets, bottles, and others. The bottles segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. This is because crystalline PET bottles are anti-microbial while also pricing necessary hygiene and product protection.

·         Based on end user, the market is fragmented into food & beverages, pharmaceuticals, automotive, and others. The food & beverages segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The earlier days and old trend packaging of metal, aluminum cans, glass bottles and cardboard cartons are replaced by polyethylene terephthalate and with newer version of concepts.

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Have a Look at the Chapters

Crystalline Polyethylene Terephthalate Market Geographical Segmentation Includes:

·         North America (United States, Canada, and Rest of North America)

·         Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·         Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)

·         Rest of the World

Asia Pacific constitutes a major market for the crystalline polyethylene terephthalate industry across the global with the largest consumption coming from countries such as China, Japan, and India owing to use of crystalline PET is the non-toxicity of the product which does not affect the quality of the product. The global crystalline polyethylene terephthalate is anticipated to witness the highest growth in Asia-Pacific owing to the growing chemical industry of China and India. The regional market may further be propelled by the growing population leading to an increase in the revenue of the F & B sector. Other factors that could lead to more revenue involve increasing product innovation, higher investments, increase in the number of players at the domestic and international levels.

The major players targeting the market include

·         Eastman Chemical Co

·         Dow

·         Far Eastern New Century Corp

·         Indorama Ventures PCL

·         SABIC (Saudi Basic Industries Corporation)

·         PolyQuest, Inc.

·         Teijin Ltd

·         Delta-Engineering

·         Treform Packaging AB

·         Petrotemex

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the crystalline polyethylene terephthalate market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the crystalline polyethylene terephthalate market?

• Which factors are influencing the crystalline polyethylene terephthalate market over the forecast period?

• What are the global challenges, threats, and risks in the crystalline polyethylene terephthalate market?

• Which factors are propelling and restraining the crystalline polyethylene terephthalate market?

• What are the demanding global regions of the crystalline polyethylene terephthalate market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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About UnivDatos Market Insights (UMI)

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·          Aluminum Foil Packaging Market

·          PET Bottle Market

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