Global Polyethylene Terephthalate Market by End-Use, by Application, by Region and Segment, Forecasts 2020–2026

The global Polyethylene Terephthalate market size is anticipated to have a significant growth in the forecast period, 2020–2026. Polyethylene terephthalate is a thermoplastic resin that can be classified into high and low-viscosity.

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PET with high and low viscosity intrinsically differ in properties. Low-viscosity is referred as staple PET and are used for various purpose such as apparel, bottles, fiber and photographic film. Commercially, PET products are non-toxic, and are used in various applications. Therefore, the market share is expected to gain a positive traction in the years to come.

Market Trends, Drivers, Restraints and Opportunity:

Polyethylene terephthalate (PET) is used in diverse domains such as consumer goods, foods and beverages, automotive, and construction. Increase in demand for PET containers mainly from the consumer goods sector is more likely to enhance the market growth
Increase in demand for sustainable materials is subsequent for market growth and growing demand for frozen foods is likely to enhance the market position in the forthcoming years
Growing potential in the PET market contributes significantly to the environment resulting in enhanced demand for processed food. In addition, consumer inclination towards efficient and recyclable PET materials is gaining traction resulting in a greater market size
Market innovation and R&D is creating new avenues in the following years. For instance, use of lightweight materials that are less hazardous are likely to enhance the market growth
On contrary, availability of cheap alternatives and stringent norms and regulations by the government is likely to restrict the market growth in the forecast span