Polyethylene Terephthalate (PET) Market Size, Share, By Product Type (Carbonated Soft Drink, Bottled Water, Other Drinks, Sheets and Films, Food, and Non-Food), By Application (Food and Beverages, Automotive, Electronics, and Others) and By Region - Trends, Analysis and Forecast till 2034

Polyethylene Terephthalate (PET) market size was valued at USD 30.3 Billion in 2024 and is projected to reach USD 41.3 Billion by 2034, growing at a CAGR of 3.5%

Polyethylene Terephthalate is a semi-crystalline, amorphous kind of thermoplastic. The material is a part of the polyester family and is created from raw materials such as terephthalic acid and ethylene glycol. PET is recyclable, lightweight, and an ideal material in the packaging industry. Growing inclination toward high-quality packaging in the pharmaceutical and food & beverage industries will likely boost product adoption. Besides, an increase in research & development activities and innovations in polymers will further fuel the growth of the polyethylene terephthalate market during the forecast period. Government restrictions on the movement of people due to the COVID-19 pandemic forced many consumers to resort to online shopping. This generated massive demand for packaging and wrapping films from the e-commerce sector. Growing online purchase of goods like groceries, medicines, packed foods, and beverages raised demand for packaging materials from the consumer goods and pharmaceutical sectors. Apart from that, some major growth drivers of the e-commerce and healthcare industries fueled the adoption rate of PET packaging products. In the current situation, across the packaging sector, operations returned to pre-COVID-19 levels and is working at full capacity. This will have a positive influence on the market growth.

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Key Drivers of Target Market:

Rising Consumption of PET in the Packaging Industry to Boost Market Growth:

• PET is also molded and extruded into plastic bottles and containers for packaging beverages and consumer, personal care, and food products. This polymer is also cost-effective, and it offers high strength, excellent insulation, and lightweight properties that make it apt as a packaging product for deliveries, using less fuel during transportation. The use of PET containers and sheets for packaging various goods through the e-commerce sector is growing. This growth is attributed to the easy accessibility of products online, lower prices, attractive discounts, and shipping & return policies offered by e-commerce platforms to consumers. The continuous development of lightweight technologies and the rising usage of recyclable packaging in the e-commerce and healthcare industries are predicted to boost the polyethylene terephthalate market share during the analysis period.

Rising demand for steel and metal products:

• The demand for steel and metal products has increased in the past years due to their utilization in various end-use industries like automotive, construction, and others. Most countries depend on international trade for these metals to meet consumer demand. Furthermore, PET straps have a wide range of applications in the safe shipment of sheet coils, straps, bars, and wires. The PET straps combine high tensile strength and excellent shock-absorbing capacity. Further, low elongation and resistance to chemicals and weather ensure the product is safely shipped throughout the process. On the other hand, since they are recyclable, they become quite sustainable and cost-effective materials for manufacturers and consumers. Hence, it is expected that the trade activities and the cost-effective nature of the PET straps over metal straps will boost the market growth during the forecast period.

Restrains:

Availability of Substitute Products:

• The wide availability of substitute polymers, like polypropylene, polyethylene, and polystyrene, is a restraint in consuming the product. Most of these substitutes have the same properties: flexibility, low thermal conductivity, high stress-bearing capacity, lightweight, and low cost. Apart from this, governments of various countries have laid down stringent regulations on plastic consumption since the manufacturing process of plastic causes immense pollution and badly affects the environment. According to the ClinMed International Library, high-temperature exposure and long-term use may lead to hazardous chemical components from plastic goods leaching into beverages, food, and water. This may include the indiscriminate dumping of plastics on land and open-air burning, which may lead to hazardous compounds being released into the air, thus posing a public health risk. These are expected to dampen the market's growth.

Opportunities:

Technological advancements:

• The oil and gas accumulator market presents numerous opportunities driven by technological advancements, material innovations, and evolving industry needs. One key opportunity is the integration of smart technologies into accumulators. Adopting IoT and advanced sensor systems enables real-time monitoring and diagnostics, allowing operators to track performance, predict maintenance needs, and optimize system efficiency. These smart accumulators enhance operational reliability and help reduce maintenance costs, and prevent unexpected downtime.

 Material innovation:

• Material innovation also has important potential. Developing high-performance composites and nano-enhanced hydraulic fluids delivers accumulators with improved durability, strength, and efficiency. High-performance composites give improved resistance to extreme temperatures and corrosion, while nano-enhanced fluids provide better lubrication and reduce friction, hence giving more durable and reliable accumulators.

The market is segmented based on Product type, Application, and Region.

Product Type Insights:

• Carbonated Soft Drink: Carbonated soft drink packaging describes bottles and cans designed for beverages containing dissolved carbon dioxide. It is what gives the fizz to the drinks. The packing of such beverages is usually made from either PET or aluminum to protect against the escape of gases and moisture; hence, it stays fizzy while maintaining its taste. Most designs include features such as resealable caps for convenience and tamper-evident seals for safety. One of the high-order influencers of this type of packaging demand comes from the enormous popularity of fizzy drinks, combined with the demand for convenience in single-serve portions.
• Bottled Water: Most bottled water comes in either PET or glass to ensure the purity and safety of the water. Generally, these packages are low in weight, light, hence easy to carry, and differ in size/format from individual serving bottles to family-size bottles. Regarding the packaging of bottled water, the focus will be on maintaining the purity of the water. Enhanced features, such as mineral enrichment or filtered water, are also offered as options. Increased health consciousness and a rise in demand for quick hydration solutions have been the potent factors that have driven market growth in bottled water packaging.
• Other Drinks: This involves juices, teas, and energy drinks—processes that involve various modes of packaging, depending on the nature of the product. For example, juice may be packaged in cartons or glass bottles for freshness, while energy drinks come in aluminum cans or PET bottles. This very diversified category requires flexible packaging solutions to be adapted to the specific needs of each beverage, UV protection, resistance to tampering, and ease of use.
• Sheets and Films: Sheets and films have a wide range of applications in food packaging, medical supplies, and industrial uses. They are manufactured from various plastics, such as polyethylene, polypropylene, and PVC, and are greatly appreciated for their versatility and functional values. These materials may be used as media for wrapping and protection in food packaging and as protective barriers or insulation in other industries.
• Food: Food product packaging varies from flexible pouches and bags to rigid containers and jars. More importantly, it protects food from contamination, prolongs its shelf life, and maintains freshness. Sometimes, barrier-type packaging is used against spoilage or some other form of deterioration in quality. Food packaging innovations enhance convenience and reduce waste through resealability and microwave safety.
• Non-Food: Non-food packaging refers to all containers and materials used with products that are not intended to be consumed. This covers household goods, personal care, and industrial products. More emphasis is placed on the strength, functionality, and safety of non-food packaging. It means choosing the packaging material in accordance with the requirements of the specific product, as in the cases of strength against chemicals for industrial goods and child resistance for personal care items.

Application Insights:

• Food and Beverages: It is an integral factor in food and beverages to maintain quality, safety, and convenience, among many other products. This could relate to a vast array of types of packaging, from single-serve to bulk packaging. Freshness, extended shelf life, and conformity to food safety regulatory standards are of immense interest. Many innovations in this regard have to do with the development of functional packaging materials that would be both safe and eco-friendly—biodegradable and recyclable.
• Automotive: Automotive packaging involves using unique materials to protect an automobile's components and parts during transit and storage. Such packaging should be hardy enough to sustain any perils during handling and by environmental factors. Basically, it comprises specially designed corrugated boxes, foam inserts, and protective films so that the automotive parts are delivered in pristine condition at their destination. The lines of concern focus on the durability, security, and standard compliance of the industry.
• Electronics: Electronic packaging design ensures the intricate electrical components against shock, static electricity, and environmental conditions. It includes anti-static materials and shock-absorbent cushioning, tamper-evident features, and protection features that ensure today's electronic products—smartphones and computers—to remain functional and undamaged throughout their passage in the supply chain. This has been focusing on providing adequate protection while it gives an attractive presentation.
• Others: The "Others" category comprises all other applications beyond food, beverages, automotive, and electronics. This includes everything from medical supplies and pharmaceuticals to packaged chemicals and household products. Each application has its own set of requirements for packaging, depending on the nature of the product, such as sterility in the case of medical products or leak-proof properties in the case of chemicals. In this category, the solution provided concerning packaging is designed to meet the requirements laid down by various industries while keeping in mind the unique needs of each type of product.

Regional Insights

• North America: The North American Polyethylene Terephthalate (PET) market is propelled by Rising Consumption of PET in the Packaging Industry to Boost Market Growth, Rise in the Consumption of PET Straps in Trade Applications to Drive the Market Expansion to Expand the Market, and the use of AI in Polyethylene Terephthalate (PET) administration.
• Asia Pacific: The Asia Pacific area is poised for solid expansion in the Polyethylene Terephthalate (PET)market, owing to rising energy consumption, rapid urbanization, and increased renewable energy use. Government measures to modernize electrical systems and increase dependability are critical.
• Europe: Europe is on track to become the world’s largest Polyethylene Terephthalate (PET) market, powered by Rising Consumption of PET in the Packaging Industry to Boost Market Growth, rise in the Consumption of PET Straps in Trade Applications to Drive the Market Expansion—the region's robust and smart grid infrastructure and supportive legislative framework.
• Latin America: The Polyethylene Terephthalate (PET) market in Latin America is predicted to rise gradually. Rising Consumption of PET in the Packaging Industry to Boost Market Growth, Rise in the Consumption of PET Straps in Trade Applications to Drive the Market Expansion, reduce power outages, and increase energy efficiency through demand-side management.
• Middle East and Africa: This region is seeing increased interest in Polyethylene Terephthalate (PET), particularly in countries with high renewable energy objectives and needing more excellent grid stability. Target markets are viewed as a solution for managing peak demand in fast-developing urban regions while supporting rural development efforts.

Polyethylene Terephthalate (PET) Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on  Product Type, Application and Region

Segmentation:

By Product Type:

• Carbonated Soft Drink
• Bottled Water
• Other Drinks
• Sheets and Films
• Food
• Non-Food

By Application:

• Food and Beverages
• Automotive
• Electronics
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Polyethylene Terephthalate (PET)Market include Amcor, Berry Global, Sealed Air, Tetra Pak, SABIC, Mondi Group, Bemis Company, RPC Group, Huhtamaki, Sonoco Products, WestRock, Plastic Omnium, Clondalkin Group, Graham Packaging, AptarGroup, DS Smith, Alpla, Greif, Crown Holdings, Integrated Packaging.

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• In August 2023, Indorama Ventures Public Company Limited announced an increase in Brazil's recycling capacity. The company expanded its recycling facility in Brazil, supported by a Blue Loan from the World Bank. The established recycling unit is expected to reach a recycling capacity of 50 billion bottles per year.
• In June 2023, Far Eastern New Company announced plans to expand its recycled PET business, intending to recycle more than 20 million bottles annually. The company expanded its recycling capacity according to its business strategies.

• Ironwood Pharmaceuticals *
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Amcor, Berry Global
• Sealed Air
• Tetra Pak
• SABIC
• Mondi Group
• Bemis Company
• RPC Group
• Huhtamaki
• Sonoco Products
• WestRock
• Plastic Omnium
• Clondalkin Group
• Graham Packaging
• AptarGroup
• DS Smith
• Alpla
• Greif
• Crown Holdings
• Integrated Packaging

“*” marked represents similar segmentation in other categories in the respective section.

Research Objective and Assumption

• Research Objectivess
• Assumptions
• Abbreviations

Market Preview

• Report Description
  • Market Definition and Scope
• Executive Summary
  • Market Snippet, By Drug type
  • Market Snippet, By Product Type
  • Market Snippet, By Application
  • Market Snippet, By Region
• Opportunity Map Analysis

Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
  • Drivers
  • Restraints
  • Market Opportunities
• Market Trends
• Product Launch
• Merger and Acquisitions
• Impact Analysis
• PEST Analysis
• Porter’s Analysis

Market Segmentation, By Product Type, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Carbonated Soft Drink 
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Bottled Water
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Other Drinks
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Sheets and Films
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Food
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Non-Food
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Application, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Food and Beverages
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Automotive
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Electronics
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Region, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (USD Bn), By Product Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • U.S
    • Canada
• Asia Pacific
  • Market Size and Forecast (USD Bn), By Product Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Europe
  • Market Size and Forecast (USD Bn), By Product Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Rest of Europe
• Latin America
  • Market Size and Forecast (USD Bn), By Product Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • Brazil
    • Mexico
    • Rest of Latin America
• Middle East and Africa
  • Market Size and Forecast (USD Bn), By Product Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East and Africa

Competitive Landscape

• Heat Map Analysis
• Company Profiles

• Amcor, Berry Global
• Sealed Air
• Tetra Pak
• SABIC
• Mondi Group
• Bemis Company
• RPC Group
• Huhtamaki
• Sonoco Products
• WestRock
• Plastic Omnium
• Clondalkin Group
• Graham Packaging
• AptarGroup
• DS Smith
• Alpla
• Greif
• Crown Holdings
• Integrated Packaging

The Last Word

• Future Impact
• About Us
• Contact