(Food-Beverage-News.Com, April 27, 2023 ) Crystalline Polyethylene Terephthalate (CPET) is a thermoplastic polymer that is widely used in the manufacturing of various products such as bottles, trays, and containers, among others. It is a highly crystalline material that exhibits excellent thermal stability, chemical resistance, and mechanical properties.
The report "Crystalline Polyethylene Terephthalate Market by Applications (Food Packaging and Beverage Packaging); & by Region (Asia-Pacific, Europe, North America, and Rest of the World) - Global Trends & Forecast", The crystalline polyethylene terephthalate (Crystalline PET) market is projected to reach USD 12.16 Billion by 2020 at a CAGR of 9.0% from 2015 to 2020.
This growth is driven by the increasing demand from the food and beverage industry and films/sheets. Asia-Pacific is the largest market for crystalline PET due to presence of large manufacturing base in this region. North America and Europe are established market with major global players present in these regions. The CPET industry is a growing industry that is expected to witness significant growth in the coming years. The major drivers for the growth of the CPET industry include the increasing demand for sustainable and eco-friendly packaging solutions, the growing demand for food and beverage packaging, and the increasing use of CPET in the automotive and construction industries.
The scope of the CPET industry is vast and includes various applications such as packaging, electronics, automotive, aerospace, and defense, among others. With the increasing demand for sustainable and eco-friendly packaging solutions, the use of CPET in the packaging industry is expected to witness significant growth in the coming years.
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Food Packaging segment is expected to dominate crystalline PET market
Crystalline PET in the food packaging industry is expected to contribute the maximum share in this market by 2020. Increased demand from the packaged food industry is driving growth in this segment. Physical and chemical properties of C-PET makes it preferable in the packaging industry over other polymers. Also, PET is one of the most recycled polymers, which is another reason for the increasing usage of C-PET in the food packaging industry. Apart from food packaging, beverage packaging is other major application of crystalline PET.
Asia-Pacific region to dominate Crystalline PET market during the forecast period
Asia-Pacific accounted for the largest share of the crystalline polyethylene terephthalate market in 2014, followed by Europe and North America. The Asia-Pacific and European regions are further expected to show a high growth in the future. The growth is attributed to the increased consumption of packaged food and more purchasing power of the masses.
The report focuses on the current market trends, estimates and forecasts for the period 2014-2020. Key strategic activities in the market including mergers/acquisitions, collaborations/partnerships, product launches/developments have been covered which provides a deep insight about the growth perspectives of the market. New product developments and expansions have been a key part of this market. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of Crystalline PET to match the new demands coming from various end-user industries. The report covers crystalline PET market by application and region. On the basis of application, the market is segmented into Food Packaging and Beverage Packaging. Food packaging is further segmented in terms of product forms which includes, Films/sheets, LID, Cups, and Trays. Beverage packaging covers the market for bottles used for packaging of drinking water and other soft drinks. In terms of region, the market is segmented into Asia-Pacific, North America, Europe, and RoW.
The key players operating in the global crystalline PET market are Bayer MaterialScience AG (Germany), La Seda De Barcelona (Spain), Petrotemex S.A. de C.V. (Mexico), Quadrant (Switzerland), Indorama Ventures Public Limited Company (Netherlands), and DAK Americas LLC (U.S.), among others.
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