Global Polyethylene Terephthalate (PET) Resin Industry Expert Opinions to 2020

2024-04-26 03:35:59 Industry

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Polyethylene Terephthalate (PET) Resin Market - Global Industry Expert Opinions Analysis, Emerging Opportunities, Market Size, Share, Growth Drivers, Market Trends, Statistics And Forecast 2015 ? 2020

Polyethylene terephthalate (PET) is a thermoplastic polymer that belongs to the family of polyester. Polyethylene terephthalate resin was introduced for commercial use as textile fiber and film in 1953. Polyethylene terephthalate (PET) in its natural state is semi-crystalline colorless resin. Polyethylene terephthalate varies from semi rigid to rigid mainly on the basis of the method used for processing it. Polyethylene terephthalate is light weight in nature and has good gas barrier and alcohol barrier properties. PET becomes white when it is exposed to chloroform and other chemicals such as toluene. Polyethylene terephthalate is generally manufactured from terephthalic acid or dimethyl terephthalate and ethylene glycol. PET offers excellent wear resistance, high flexural modulus, superior dimensional stability and low coefficient of friction. Polyethylene terephthalate being highly versatile material is widely used in the manufacturing of mechanical and electromechanical parts. It is one of the most widely recycled polymers. Polyethylene terephthalate can be easily depolymerized to yield the constituent monomers. After the purification process, the monomers can be further used to manufacture new polyethylene terephthalate. PET is generally used in the synthetic fibers that are used in manufacturing of containers used for the packaging of food, beverage and other liquids.

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Scope

Growing developing economies coupled with increasing disposable income has lead to high demand for residential buildings which in turn is expected to boost the overall construction industry. Thus, growing construction industry is expected to boost the demand for polyethylene terephthalate which is used in the manufacturing of carpets. PET is also widely used in the manufacturing of bottles required for the packaging of several beverages. In addition, several marketing activities has boosted the overall demand for bottles of different shapes and sizes which is further expected to augment the overall demand for polyethylene terephthalate. Thus, the growing demand for carbonated soft drinks and bottled water is expected to boost the overall growth in the demand for polyethylene terephthalate market.

Key Players

RTP Company, Eastman Chemical Company, Saudi Basic Industries Corporation (SABIC), Aclo Compounders, BASF Canada, Global Polymers Inc., Jamplast Inc., Klockner Pentaplast of Canada Inc. and Thai PET Resin Co., Ltd. are some of the major participants of the global PET market. The companies are mainly focused towards increasing their production capacities which in turn will help in achieving economies of scale. The companies also strive to manufacture superior quality and environmental friendly polyethylene terephthalate resins.

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