Global Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market Size By PET Type (Transparent & Non-Transparent PET and Recycled PET), By PET Application (Bottles, Films, Food Packaging), By PBT Application (Electrical & Electronics, Automotive), By Geographic Scope And Forecast

Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market Size And Forecast

Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market size was valued at USD 39.89 Billion in 2024 and is projected to reach USD 29.2 Billion by 2031, growing at a CAGR of 7.18% from 2024 to 2031

We're seeing a big jump in the need for Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins globally! Why? Well, PET is special because it's the only recyclable polyester, and you can use it in all sorts of ways that you can't with other materials. Plus, the car industry really wants PBT to make cars lighter, which helps cut down on fuel use and CO2 emissions. Looking ahead, as more people learn about the benefits of recycled Polyethene Terephthalate, the demand for Polyethylene Terephthalate (PET) Resin should keep climbing. And it's not just thatmore and more attention merchandise, personal care and pharmaceutical companies want it, and those ready-to-drink beverages & flavoured waters? They're fueling the growth too!

Global Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market Definition

PET stands for polyethylene terephthalate, the chemical term for polyester and is also abbreviated as PETE. PET is a transparent, sturdy, and lightweight plastic commonly used in packaging foods and beverages, particularly convenience-sized soft drinks, juices, and water. In comparison to other thermosetting materials, polyethylene terephthalate is a recyclable polyester that is employed in a wide range of applications. The fact that it is reusable provides a cost-benefit to the makers. PET bottle use rises as a result of recycling. Several primary beverages and fast-moving consumer goods businesses have pledged to use 50% recycled plastic in their packaging.

On the other hand, Polybutylene Terephthalate (PBT) is a raw material used to produce synthetic fibers and engineering plastics. It’s a semi-crystalline, white or off-white polyester similar to Polyethylene Terephthalate (PET) in composition and qualities. It is weaker and less rigid than Polyethylene Terephthalate. PBT is chosen for industrial-scale molding because it crystallizes faster than PET. PBT Resin is the foundation resin for PBT compounds, which can include a mix of PBT resin, fiber glass filler, minerals, and other additives like UV protection agents and flame retardants.

Global Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market Overview

We're seeing a surge in demand for Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins! Why? Well, PET's special because it's the only recyclable polyester, leading to its wide use. Plus, the automotive industry is all about Polybutylene Terephthalate (PBT) to cut down on fuel use and CO2 emissions. Think of itPET (recycled polyethylene terephthalate) is super recyclable and is one of the most extensively used recycled plastics globally! We're talking carpet fiber, clothing, furniture, even filling for sleeping bags and car parts, all thanks to rPET. And get thisbig brands in beverages and consumer goods are pledging to use 50% recycled materials in their packaging by 2030. That means the need for food-grade recycled materials is only going to go up!

Furthermore, demand from the automotive sector for PBT materials to reduce fuel consumption and CO2 emission is expected to exponentially boost the global market growth of Polybutylene Terephthalate (PBT) Resins. PBT is used in various applications, including automotive, optical fiber cables, appliances, electrical and electronics, etc. Automotive is the market leader since it is used in interior and exterior elements and car electrical system components.

However, the market's growth is facing some roadblocks because it's getting harder to find raw materials. The cost of crude oil and petrochemicals is skyrocketing, which is pushing up the price of everything needed to make things. Since PET resin comes from crude oil, any ups and downs in oil prices directly affect it. The current mess between Russia and Ukraine has made the raw material situation even worse. On the bright side, everyone's worried about pollution, so there's a big push for eco-friendly and sustainable packaging, like recycled plastic. Beverage companies want machines that are easy to adapt, so they can handle different qualities of rPET. Because of all this, manufacturers who work with rPET should see some fantastic opportunities to develop sustainable packaging!

Global Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins MarketSegmentation Analysis

The Global Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market is segmented based on PET Type, PET Application, PBT Application, and Geography.

Polyethylene Terephthalate (PET) Resins Market Segmentation, By PET Type

• Transparent & Non-Transparent PET• Recycled PET

Global Polyethylene Terephthalate (PET) Resins Market is segmented into Transparent & Non-Transparent PET and Recycled PET based on PET Type. By 2030, the Transparent & Non-Transparent PET segment is expected to account for a significant portion of the Polyethylene Terephthalate (PET) Resins market. An increase in demand for PET containers, particularly in the food and beverage industry, as well as an increase in demand for frozen and processed foods, are the prime reasons for the segment’s growth.

Polyethylene Terephthalate (PET) Resins Market Segmentation, By PET Application

• Bottles• Films• Food Packaging• Cosmetics• Others

Global Polybutylene Terephthalate (PBT) Resins Market is segmented into Bottles, Films, Food Packaging, Cosmetics, and Others based on PET Application. Due to increased demand and increased consumption of PET bottles in food and beverage, consumer goods, and others, the Bottles segment is predicted to grow fast throughout the period.

Polybutylene Terephthalate (PBT) Resins Market Segmentation, By PBT Application

• Electrical & Electronics• Automotive• Consumer Appliances• Packaging Components• Others

Polybutylene Terephthalate (PBT) Resins Market is segmented into Electrical & Electronics, Automotive, Consumer Appliances, Packaging Components, and Others based on PBT Application. Socio-economic development and rising disposable income are responsible for the Electrical & Electronics segment’s large market share.

Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market, By Geography

• North America• Europe• Asia Pacific• Latin America• Middle East

Okay, so when we look at different regions, the global market for Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins breaks down into North America, Europe, Asia Pacific, Latin America, and the Middle East. Right now, Asia Pacific makes up a big chunk of the market. Looking ahead, we think that region will continue to bring in the most money, mostly because we're seeing more demand for things like PET bottles, films, and you name it! Plus, PBT is pretty cool because it acts a lot like metal but is lighter. That's why it's starting to replace metal in things like cars, which will really give the PBT resin market a boost.

Key Players

The “Global Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market” report will give value-for-money insight with an emphasis on the market. The major players in the market are SABIC, BASF SE, Indorama Ventures Limited, Mitsubishi Chemical Corporation, Alpek, Nan Ya Plastics, DuPont, Reliance Industries, Far Eastern New Century, and Others.

Key Developments

• In January 2022LNP Elcrin WF006XXPiQ and LNP Elcrin WF0061XPiQ are two new polybutylene terephthalate (PBT) compounds launched from SABIC. These are the first two grades of a new material line that comprises pre-consumer recycled glass fibers recovered from industrial waste sources.

• In July 2019BASF introduced the first thermoformable PBT for extrusion and thermoforming worldwide. Extrusion of films and packaging or technical thermoforming is possible with this material.

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