The global crystalline PET market is projected to reach USD 12.16 billion by 2031, at a CAGR of 9.0% from 2022 to 2031. Crystalline PET is recyclable and its increasing usage in the packaged food and beverage industry due to its chemical properties are driving the growth of this market. Availability of crystalline PET is another factor that has a positive impact on increased applications, which in turn fuels this market.
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The Food Packaging segment is projected to account for the largest market share till 2031.
The food packaging segment accounts for the largest share of the crystalline PET market, major usage in various packaged food containers, trays, and lids. The growth of the packaged food industry in emerging economies is driving the demand for C-PET in food packaging applications.
Asia-Pacific market to register high growth for crystalline PET by 2031.
The crystalline PET market in Asia-Pacific is expected to register the highest CAGR between 2022 and 2031. The growth of the crystalline PET market in the Asia-Pacific & Europe regions is driven by the increasing demand of crystalline PET from the beverage & films/sheet industries. C-PET is widely used in the packaging industry, which is growing at a significant pace in Asia-Pacific, due to the increased consumption of packaged food and rise in purchasing power of the masses. China is a major player in Asia-Pacific, followed by India and Japan. Asia-Pacific is estimated to contribute the largest share to the global market.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
• By Company Type: Tier 1 – 37%, Tier 2 – 50% and Tier 3 – 13%
• By Designation: C level – 50%, Director level – 31%, Others – 19%
• By Region: North America – 31%, Europe – 38%, APAC – 25%, RoW – 6%
Further, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and regulations. It also discusses competitive strategies adopted by market players across different regions. The companies profiled in this report are Eastman Chemical Company (U.S.), 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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This report covers the following key aspects:
• What will be the market size by 2031 and what will be the growth rate
• What are the key market trends
• What is driving this market
• What are the challenges that impact market growth
• Who are the key players in this market
• Global report covers key regions such as North America, Europe, and Asia-Pacific with their major countries
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