Scienza e Tecnologia
Polyethylene Terephthalate (PET) worth $64.01 billion by 2029 & Polybutylene Terephthalate (PBT) Resins Market worth $6.37 billion by 2029 - Exclusive Report by MarketsandMarkets™
rPET (recycled polyethylene terephthalate) is expected to be the fastest-growing segment in the PET resin market in Europe due to rising environmental concerns and sustainability initiatives. European regulations, such as the , encourage increased use of recycled materials. Consumer demand for eco-friendly packaging and advancements in recycling technologies also support this trend. Major brands are committing to using more rPET in packaging, further driving the growth of rPET in the European market during the forecast period.
The largest share in the PET resin market during the forecast period will likely be held by bottles due to their vast application in packaging beverages, food, and other consumer products. Bottles are made with PET as it is lightweight and strong, along with being relatively cheap. Bottles made of PET are therefore gaining increasing prominence due to the rising demand for bottled water, soft drinks, and other convenience food packaging, the trend toward sustainable packaging, and the developments in recycling technologies. Such advancements are set to positively imprint PET bottle market growth by accelerating their share.
The Asia Pacific region shall be a leading contributor to the global PBT (Polybutylene Terephthalate) resin market growth throughout the forecast period. This rise can be attributed to progression in industrialization, increased demand for automotive components, and growth of electronics and electrical sectors in the region. Countries including China , India , and Japan will be the fast-developing nations fueling the region's rapid manufacturing advancement and enlarging consumer markets. Also, the urge for high-performance materials in automotive and electronics is placing strong demand on PBT resins in the region.
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 ) are the key players in the global PET & PBT resin market.
MarketsandMarkets has been recognized as one of , as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
MarketsandMarkets INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/polyethylene-terephthalate-pet-worth-64-01-billion-by-2029--polybutylene-terephthalate-pbt-resins-market-worth-6-37-billion-by-2029--exclusive-report-by-marketsandmarkets-302383117.html