Views: 0 Author: Site Editor Publish Time: 2021-06-21 Origin: Site
The global PET market is expected to develop rapidly within five years
According to the Research report released by Research and Markets, the global PBT and PET resin market will grow strongly at an annual growth rate of 7.3% during the period 2014-2019, and the market value is expected to reach about $47.4 billion by 2019.
The global PET resin market has grown significantly over the past few years and this trend is expected to continue in all application areas in the coming years. In contrast, the growth rate of the global PBT resin market is relatively slow. The need to replace traditional packaging applications and reduce atmospheric emissions are the main reasons driving the demand for PET market. Factors such as thermal stability, high heat resistance, and superior electrical properties are the main reasons for promoting the demand for PBT resin. In addition, the rising demand for recycled PET and innovative packaging will be the major influencing factors for the PET resin market.
In 2013, Asia Pacific was the largest regional consumer market for PET and PBT resins. In the field of PET bottles and PBT electronic and electrical products, China is the largest consumer. Rising middle class, high growth economy, increase in OEM production, and rapid urbanization are the driving factors for the growth of the PET market in Asia Pacific. About 72% of PET resin demand comes from plastic bottle applications, including mineral water, carbonated beverages, instant tea, functional drinks, dairy products, energy drinks and other beverages used in beverage bottles, it is expected that in the future, the trend of lightweight PET bottles will continue, because it is a way to save costs.
In terms of PBT resin demand in 2013, about 43% came from the electronic and electrical fields, especially switches, connectors, circuit breakers, motor casings and automotive electronic parts. Automotive fuel efficiency, safety, comfort and other factors drive the demand for automotive electronic parts.
In terms of strategic actions, the Asia-Pacific region was the most active market in 2010-2014, and this trend will continue in the next five years. The automotive end-user industry is driving the rapid growth of the PBT market. Car production reached 81 million units in 2013.
In terms of strategic actions, Asia Pacific was the most active market in 2010-2014, a trend that will continue over the next five years. The automotive end-user industry is driving the rapid growth of the PBT market. Car production reached 81 million units in 2013.