PET & PBT Resins Market Worth $47,378.8 Million by 2019 - New Report by MarketsandMarkets
(PRWEB) May 06, 2014 -- The report “PET Resin Market by Application (Bottles, Films, Food Packaging, and Others), & PBT Resin Market by Application (Automotive, Electrical & Electronics, Consumer Appliances, and Others) - Global Trends, Forecasts to 2019” report analyzes the global PET & PBT resin market with respect to drivers, opportunities, and trends in different regions.
Browse 99 market data tables and 45 figures spread through 281 pages and in-depth TOC on “PET Resin Market & PBT Resin Market - Global Trends, Forecasts to 2019.”
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PET & PBT resin consumption is significantly increasing in packaging and electrical & electronics industry respectively. PET is replacing the conventional packaging materials, such as glass, aluminium paper, and metal due to its light weight; whereas PBT features thermal, dimensional, and moulding stability. The Asia-Pacific region is expected to dominate the PET resin market from 2014 to 2019 with its growing demand for PET resin in different applications, especially bottles, films, and food packaging segments. The Asia-Pacific and Europe markets are estimated to show a growth of 10.9% and 2.8% respectively during the period under review. PBT is replacing metal in many areas with the same thermo-mechanical properties in automotive applications, eventually driving the PBT resin market. Growth in auto sales and electronics market in emerging economies is also expected to boost the PBT resin market.
Indorama Ventures (Thailand) is all set to invest $190 million to build a new PET resin manufacturing plant with an annual capacity of 500,000 tons at Decatur in Morgan County, U.S.The construction of this new facility commenced in 2013 and is set for completion in the fourth quarter of 2015. M&G Chemicals (Luxembourg) awarded a $1 billion engineering, procurement, and construction contract to Sinopec Engineering (Group) Co. Ltd. to build a polyethylene terephthalate-purified terephthalic acid (PTA) plant to be started in 2014 in Corpus Christi, Texas. The plant will produce 600,000 metric tons of PET and 864,000 metric tons of PTA, making it the largest single-line PET and PTA plant in the world.
The Asia Pacific region is the largest market, both, in terms of volume and value, followed by Europe, and ROW. China, U.S., Germany, Japan, India, South Korea,Brazil, and Mexico are expected to continue as successful thermoplastic polyester resin markets. The key players in the PET resin market are Indorama Ventures (Thailand), M&G Chemicals (Luxembourg), Jiangsu Sanfangxiang Group (China), Far Eastern New Century (Taiwan), Alpex (Mexico), and others. The main players in the PBT resin market are BASF (Germany), Toray Industries (Japan), Royal DSM N.V. (The Netherlands), E. I. du Pont de Nemours and Company (U.S.), Saudi Basic Industries Corporation (Saudi Arabia), Nan Ya Plastics (Taiwan), Lanxess Corporations (Germany), Celanese Corporation (U.S.), and others
The PET & PBT resin market, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, investments, expansions, mergers & acquisitions, agreements, partnerships, and collaborations of the leading companies.
The value of the PET resin market was estimated to be $29,358.5 million in 2013, and is projected to reach $44,581.8 million by 2019, at a CAGR of 7.3%, from 2014 to 2019. The PBT resin market reached $2,112.6 million in 2013 and is projected to reach $2,796.9 million by 2019, at a CAGR of 4.6% during the period of studyThe high demand across the industries, such as bottles, films, and food packaging will increase the overall PET resin consumption. The high demand of PBT resin across the industries, such as electrical & electronics, automotive, and consumer appliances will support the PBT resin market.
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