Polyethylene Terephthalate Market to Around at US$39.16 Bn by 2024

The global polyethylene terephthalate (PET) market has been predicted by Transparency Market Research (TMR) to bear a significantly fragmented characteristic due to the presence of several industry players. According to a market research publication penned by TMR, five companies, viz. DAK Americas, Octal, Jiangsu Sanfangxiang, M&G Chemicals, and Indorama Ventures, had secured an aggregate approximate share of only 39.0% in the recent 2015. In the next few years, the market could testify an intense level of competition due the enormous count of PET resin suppliers and low switching expenses.

Request for Sample @

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=415

As per the TMR report, the global PET market has been anticipated to earn around US$39.16 bn by 2024 from US$23.73 bn in 2015 at a 5.80% CAGR for the forecast timeframe 2016–2024. By application, beverages could remain as a dominant market for PET. By region, Asia Pacific has been foreseen to rise with a higher share, considering its over 35.0% share achieved in 2015.

Players operating in the global PET market have been expected to make continuous efforts to introduce new offerings for cementing their position with a handsome share in future. Furthermore, expansion could be a prime strategy adopted for achieving full chain margins, lowering operational expenses, and improving global capacity share.

Request for Brochure @

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=415

For instance, in 2015, Reliance Industries Ltd. (RIL) had publicized the commissioning of PET resin plant of 650 KTA capacity and purified terephthalic acid (PTA) capacity of 1,150 KTA in Gujarat. These plants could apparently be put to operation for preparing polyester plastic used in plastic bottles, foods and beverages, packaging, and clothing.