Prismane

Asia Pacific Polyethylene Terephthalate (PET) Market Demand & Forecast Analysis, 2016-2032

Introduction

Polyethylene Terephthalate (PET) is a member of the polyester family and is classified as a thermoplastic polymer. PET is produced from ethylene glycol and dimethyl terephthalate in a transesterification reaction and can be transparent or semi-crystalline. As of 2021, the Asia Pacific region held a dominant share of in the global PET market. This region is expected to experience substantial growth from 2022 to 2032, primarily driven by the strong demand for PET in the packaging industry. Asia Pacific, being the largest producer and consumer of PET globally, is projected to maintain its dominant position throughout the forecast period until 2032. The region is set to witness a substantial increase in capacity, with an estimated addition of over 7,400 kilo tons in span of 10 years.

PET is widely used in the packaging industry due to its strength, lightweight, durability, chemical inertness, and recyclability properties. PET packaging is utilized in various sectors such as baked goods, electronics, gift packs, toys, household items, cosmetics, and personal care products. In the textile industry, PET, known as polyester fibers, is used in apparel and as an insulating layer in sportswear and workwear. PET is also employed as an insulating material in the back sheet of photovoltaic modules due to its optical properties. The marine and aviation industries also utilize PET to reduce weight and increase fuel efficiency. Other applications include the pharmaceutical industry, 3D printing, magnetic materials, and pressure-sensitive adhesive tapes. 

The PET demand in the Asia Pacific region is driven by its widespread utilization in the packaging industry. The food and beverage sector dominates the PET market, benefiting from its attributes of strength, durability, lightweight nature, and resistance to impact and corrosion. The increasing awareness surrounding food shelf life has emerged as a key driving force behind the demand for PET in the food packaging sector. Notably, investments have been directed towards advanced packaging technologies, including active and intelligent packaging, aimed at extending product shelf life. Furthermore, the COVID-19 pandemic has resulted in an upsurge in the consumption of packaged food products.

In recent years, governments across the Asia Pacific have proposed bans on usage of various single-use plastic items, such as plastic bags, cutlery, straws, and food containers, driven by concerns over environmental sustainability. The move towards reducing plastic pollution and promote a more sustainable future has significant implications for the Asia Pacific PET market, as PET is widely used in the production of various single-use plastic products.

Recent Developments

In June 2023, Indo Rama Synthetics Limited successfully expanded its bottle grade PET resin facility by 700 tons per day at its recently constructed plant in Butibori, Nagpur, India. This expansion, along with the existing plants in Haldia and Karnal, strengthens IVL s position as leading PET resins supplier in India with installed capacity of over 1000 kilo tons

In July 2021, Mitsubishi Chemical Corporation, based in Tokyo, entered into an agreement with Kuraray, providing them with a patent for biomass-based polyester. 

Mitsubishi Chemical Corporation of Tokyo will provide its patent on biomass-based polyester to Kuraray and signed an agreement with Kuraray in July 2021.

Scope of Report 
The Polyethylene Terephthalate report describes the Asia-Pacific Polyethylene Terephthalate market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by Application
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Demand Balance 
•  PET Market data in terms of volume and value for each end-use 
   at regional and country level
•  PET Market analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment

1. Introduction
      •  Scope
      •  Market Coverage
          -  Types
          -  Applications
          -  End-Use Industries
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2016 – 2020
          -  Base - 2021
          -  Forecast Period - 2022 – 2032
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources
2. Market Synopsis 
      •  Market Evolution
      •  Demand-Supply Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast
3. Economic & Energy Outlook
      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices
4. End-use Sector Performance
      •  Textile
      •  Electrical & Electronics
      •  Consumer Goods
      •  Food & Beverages
      •  Healthcare
      •  Others
5. Plants & Projects Analysis
      •  Polyethylene Terephthalate Production Capacity, by Company
      •  Polyethylene Terephthalate Production Capacity, by Country and by region
      •  Capacity Overview, By Technology
6. Introduction to Polyethylene Terephthalate and Market Overview 
      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications
7. Market Dynamics and Industry Trends 
      •  Market Dynamics 
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges
8. Asia-Pacific Polyethylene Terephthalate Demand-Supply Analysis, By Types, By Applications, By End-Use Industries (Volume, Value) (2016–2032)
      •  Strategic Issues
      •  Demand-Supply Analysis and Forecast (2016 – 2032)
          -  Capacity
          -  Capacity Utilization (%)
          -  Production
          -  Imports
          -  Exports
          -  Net Trade
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Asia-Pacific Polyethylene Terephthalate Market, By Types 
          -  Fiber
          -  Resins
          -  Others
      •  Asia-Pacific Polyethylene Terephthalate Market, By Applications 
          -  Bottles
                 -  Water Bottles
                 -  Carbonated Soft Drink Bottles  
                 -  Others                           
          -  Films & Sheets
          -  Food Packaging
          -  Others
      •  Asia-Pacific Polyethylene Terephthalate Market, By End-Use Industries 
          -  Automotive
          -  Textile
          -  Electrical & Electronics
          -  Consumer Goods
          -  Food & Beverages
          -  Healthcare
          -  Others
9. Demand-Supply Analysis and Market Review, By Region, By Country (Volume, Value), (2016– 2032)
      •  Strategic Issues
      •  Capacity
      •  Capacity Utilization (%)
      •  Production
      •  Imports
      •  Exports
      •  Net Exports
      •  Demand
      •  Demand Growth Rate (%)
      •  Polyethylene Terephthalate Market, By Types
      •  Polyethylene Terephthalate Market, By Applications
      •  Polyethylene Terephthalate Market, By End-Use Industries
Note: Demand-Supply Analysis has been provided for all major Regions / Countries as mentioned below. The demand-supply (consumption) split by types, Applications and end-use industries has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  Singapore
         -  Malaysia
         -  Thailand
         -  Indonesia
         -  Vietnam
         -  Taiwan
         -  Rest of Asia-Pacific
      •  Central & South America
      •  Middle East & Africa
Note: CAGR will be calculated for all the types, applications and end-use industries to arrive at the regional/global demand growth for the forecast period (2022 – 2032)
10. Pricing Analysis
      •  Average Polyethylene Terephthalate Prices, USD/Kg
      •  Average Polyethylene Terephthalate prices, by Country 
      •  Average Polyethylene Terephthalate prices, by Region
      •  Price Forecast
11. Key Strategic Issues
12. Business Opportunity Assessment 
      •  Market Attractiveness Assessment
      •  Prospective & Target Market Study
13. Strategic Recommendation & Suggestions
14. Company Analysis and Market Share Analysis
      •  Polyethylene Terephthalate Manufacturers Profiles/ Company Analysis
         -  Basic Details
         - Headquarters, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Recent Developments
         -  Companies Covered
             -  Toray Industries
             -  Jiangsu Sanfangxiang Group
             -  Indorama Ventures
             -  Far Eastern New Century
             -  Nan Ya Plastic Corporation
             -  Xiang Lu Tenglong
             -  Hengyi Group
             -  Reliance
             -  Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
15. Appendices
      •  Demand-Supply - Regions
      •  Demand-Supply– Countries
      •  Capacities, 2016-2032

Scope of Report 
The Polyethylene Terephthalate report describes the Asia-Pacific Polyethylene Terephthalate market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by Application
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Demand Balance 
•  PET Market data in terms of volume and value for each end-use 
   at regional and country level
•  PET Market analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment