NEW YORK, Dec. 9, 2021 /PRNewswire/ -- Technavio's latest offering, the Polyethylene Terephthalate Market report provides a detailed analysis of the competitive scenario and the market growth across various regions. 49% of the market's growth will originate from APAC. China, Japan, and India are the key markets for polyethylene terephthalate in APAC. Market growth in this region will be faster than the growth of the market in the European and North American regions. The growing alcoholic and CSD beverage consumption in India and China will facilitate the polyethylene terephthalate market growth in APAC over the forecast period. The polyethylene terephthalate market value is anticipated to grow by USD 15.09 billion, progressing at a CAGR of 6.98% from 2020 to 2025 as per the latest market report by Technavio.

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Market Dynamics

The market is driven by factors such as the increase in consumption of packaging materials, demand for sustainable and recyclable materials, and the increase in demand from the textile industry. However, the volatility in crude oil prices is hindering market growth. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Company Profiles

The polyethylene terephthalate market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Some of the companies covered in this report are Alpek SAB de CV, DuPont de Nemours Inc., Far Eastern New Century Corp., Indorama Ventures Public Co. Ltd., Koninklijke DSM NV, LANXESS AG, Mitsubishi Chemical Holdings Corp., NEO GROUP UAB, Saudi Basic Industries Corp., and Toray Industries Inc., etc.

Few Companies with Key Offerings 

• Alpek SAB de CV - The company offers polyethylene terephthalate used in everything from food and beverage packagings like water and soda.
• DuPont de Nemours Inc. - The company offers polyethylene terephthalate products such as DuPont Rynite.
• Far Eastern New Century Corp. - The company offers polyethylene terephthalate products such as APET, GPET, and RPET.
• Indorama Ventures Public Co. Ltd. - The company offers polyethylene terephthalate products such as ASPET AS19C, ASPET AS19CF, and ASPET AS20C.
• Koninklijke DSM NV - The company offers polyethylene terephthalate products such as Arnite.

Competitive Analysis

The competitive scenario provided in the polyethylene terephthalate market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.

Market Segmentation

• By Downstream Products, the market is classified into fibers, resins, and others. The polyethylene terephthalate market share growth by the fibers segment will be significant for revenue generation. The overall growth of the segment will be maintained by the continued replacement of natural fibers by less costly and better performing man-made alternatives in many market applications. 
• By Geography, the market is classified as APAC, North America, Europe, South America, and MEA. APAC will have the largest share of the market.

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