PET Market Industry Outlook, Size, Growth Factors and Forecast 2030

PET Market:was worth US$ 28.96 Bn. in 2022 and total revenue is expected to grow at a rate of 7.01 % CAGR from 2023 to 2029, reaching almost US$ 46.54 Bn. in 2029.

PET Market Overview

The report serves as a comprehensive guide for investors, stakeholders, and market followers of the PET Market. It offers an in-depth analysis of the market size, segmentation, drivers, and restraints. Factors that are expected to impact the industry positively or negatively are also included, providing decision-makers with a clear understanding of the PET industry’s future outlook.

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PET Market Report Scope and Research Methodology

The research for this report employs a combination of primary and secondary research methods to provide a detailed and accurate analysis of the PET Market. The bottom-up approach is utilized to estimate the market size, while secondary research is used to identify key players in the market. Primary research involves conducting interviews with significant opinion leaders and industry experts, including business owners and marketing specialists. Secondary research involves a thorough review of the annual and financial reports of top manufacturers to calculate their market revenues.

PET Market Regional Insights :

The research includes a global-level regional analysis, providing a comprehensive understanding of the dominant market share and penetration in different regions. It also highlights emerging regions expected to become major markets for PET . The report encompasses a competitive analysis, focusing on growth models, new strategies, and technologies adopted by key players in the market.

PET Market Segmentation :

Brand holders’ pledges to purchase recycled plastic in 2020 will be put to the test by the pessimistic outlook for the virgin plastics market caused by the significant production volumes that are anticipated to start in both China and the US. The market anticipates Lyondellbasell’s 550,000 mt/yr HDPE plant to begin operations by the end of 2022. The United States will add 34.35 Mn mt/yr of polyethylene terephthalate capacity in 2023. Product owners will either bite the bullet and buy the more expensive recycled material or reduce their purchases of recycled plastic to the barest minimum in the face of cheap virgin material. Given that the major player owner has promised to use a minimum amount of recycled plastic in their packaging, the situation has altered.

Supply was entirely stable and included a rare plant from China, India, and Thailand. Zhejiang Wankai New Material reopened its lines with a collective capacity of 400,000 tonnes per year after seven months of maintenance, but China Resources Chemical began up a unique 500,000 tonnes per year facility in H1 May. A few Asian producers had unmanageable to poor performance histories. Demand at the terminal area, shipping accessibility, and freight costs all influence which trade flows experience greater activity and which experience less. The strong end-use demand and constrained supply of Asian cargo in the Americas resulted in high demand for Asian cargo despite high cargo prices. Due to high freight costs, there was less demand for Asian cargo from European nations, which made Asian cargo less competitively priced. The demand remained constant from.

PET Market Key Players :

1. RTP Company 2. BASF 3. DuPont 4. DSM 5. M&G Group 6. Indorama Ventures 7. PET Processors LLC. 8. Lanxess Corporation 9. Nan Ya Plastics 10. Lyondell Basell Industries N.V. 11. Toray Industries 12. Jiangsu Sanfangxiang Group 13. Far Eastern New Century 14. Quadrant AG, Tray-Pak Corporation, 15. Verdeco Recycling Inc. 16. Eastman Chemical Company 17. lpek S.A.B de C.V. 18. Reliance Industries Ltd. 19. Dhunseri Petrochem Ltd.

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Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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