Asia Pacific Polyethylene Terephthalate (Pet) Market Forecast 2019-2027
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KEY FINDINGS
An increase in the number of international tourist visits and the subsequent increase in demand for bottled water is driving the market for PET packaging in the Asia-Pacific region. It is estimated that by the end of the forecast period of 2019-2027, the Asia-Pacific polyethylene terephthalate (PET) market is expected to register a CAGR of 7.22% and 5.38% by revenue and volume respectively.
MARKET INSIGHTS
In the Asia-Pacific, consumers are looking for products that have high quality and extra benefits. For example, some bottled water manufacturers are switching to PET bottles because they are considered to be healthier and offer more clarity and transparency as compared to other forms of packaging. China is a significant market for PET in this region. It is one of the emerging economies with a growing demand for food & beverages and cosmetics sectors, wherein packaging plays a crucial part. Factors like increasing consumer demand and ban of the scrap plastic import for recycling is expected to drive the market demand in this region.
COMPETITIVE INSIGHTS
Companies like M&G Chemicals, JBF Industries Ltd., BASF SE, Jiangsu Sanfangxiang Group, Alpek SAP DE CV, China Resources Chemical Materials Technology Ltd., Hengli Group Ltd., Reliance Industries Ltd., Royal DSM, Sinopec Group, Far Eastern New Century Corporation, Indorama Ventures Public Company Ltd., Octal, Saudi Basics Industries Corp, and Lotte Chemical Corporation are dealing in this market.
An increase in the number of international tourist visits and the subsequent increase in demand for bottled water is driving the market for PET packaging in the Asia-Pacific region. It is estimated that by the end of the forecast period of 2019-2027, the Asia-Pacific polyethylene terephthalate (PET) market is expected to register a CAGR of 7.22% and 5.38% by revenue and volume respectively.
MARKET INSIGHTS
In the Asia-Pacific, consumers are looking for products that have high quality and extra benefits. For example, some bottled water manufacturers are switching to PET bottles because they are considered to be healthier and offer more clarity and transparency as compared to other forms of packaging. China is a significant market for PET in this region. It is one of the emerging economies with a growing demand for food & beverages and cosmetics sectors, wherein packaging plays a crucial part. Factors like increasing consumer demand and ban of the scrap plastic import for recycling is expected to drive the market demand in this region.
COMPETITIVE INSIGHTS
Companies like M&G Chemicals, JBF Industries Ltd., BASF SE, Jiangsu Sanfangxiang Group, Alpek SAP DE CV, China Resources Chemical Materials Technology Ltd., Hengli Group Ltd., Reliance Industries Ltd., Royal DSM, Sinopec Group, Far Eastern New Century Corporation, Indorama Ventures Public Company Ltd., Octal, Saudi Basics Industries Corp, and Lotte Chemical Corporation are dealing in this market.
Asia Pacific Polyethylene Terephthalate (Pet) Market Forecast 2019-2027
Published By :Inkwood Research
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