Global Polyethylene Terephthalate Compounding Market by Application (Material Handling, Electrical & Electronics, Packaging, Automotive, Industrial Machinery, Construction) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2015, the global market for polyethylene terephthalate compounding was worth USD 3.95 billion. Growth is expected to be driven by an increase in consumption across all end-use industries, including packaging, construction, and electrical & electronic.

The market's growth will be driven by increasing demand for water bottles. The lightweight polyethylene terephthalate bottles (PET), are easy to use, can be resealed, and are non-breakable. This compound can be used to make many products, including winter coats and door panels.

Because of their superior impact resistance, ET compounds are becoming more popular as an alternative to acrylic and glass. There are lucrative opportunities in the recent trend to replace these conventional materials in transportation applications like windshields and windows.

Key manufacturers have developed bio-based alternatives that are more biocompatible due to regulatory intervention in relation to the use of traditional plastics in medical devices and food packaging. This trend was a major factor in the development bio-PET and other related compounds.

Over the past few years, global crude oil prices have experienced severe fluctuations. Social unrest in key oil-producing regions like Nigeria, Venezuela and Iran has adversely affected crude oil supply and created inelasticity in both demand and supply balance.

PET compounding uses a variety of raw materials, including plastic additives, solvents, lubricants and lubricants. The majority of raw materials used in PET compounding are obtained through downstream processes for petrochemicals. This is likely to impact overall production costs. Over the forecast period, these factors will be a hindrance to industry growth and a challenge for industry participants.

There are many opportunities for recycled plastics in packaging. These include traditional applications such as bottling or non-food product wrapping. Industry growth will be influenced by improved logistics networks, such as better waste collection and post recycling supply.

Over the forecast period, global demand for PET compounds will be driven by the packaging and electrical & electronic industries. PET compounding market growth will be driven by an increase in electrical and electronics demand following the recovery from recession. Moreover, the U.S. government spending on infrastructure improvements will increase plastic compounding market growth during the forecast period.

The industry's overall growth rate is dependent upon high-potential regions like Latin America and Asia. These regions have higher industrial output than the global average. Asia, particularly China, has seen a significant rise in manufacturing activity, mainly due to increased consumerism, which is driven by favorable credit conditions, economic growth, and an increase in disposable income. The demand for plastics used in the manufacture of nearly all tangible goods is expected to rise in the future. This will have an impact on the compounding industry.

Application Insights

Packaging is the most important application where PET compounds are used in large quantities to produce bottles, especially carbonated beverages, and nutritional drinks.

Market dynamics will be shaped by developments in packaging technology and subsequent improvements in specifications for plastics used in packaging applications. Packaging was the most important application segment in 2014, and it is projected to grow at a CAGR of more than 7% between 2016 and 2024.

Because of its superior properties, such as flexibility and ease-of-processing, transparency, and barrier properties, it is widely used in the electronics and electrical industries. There are many products that demand PET compounds, including sockets, wiring components and enclosures, as well as switches, electrical & electronic housings, wiring components, enclosures and switches.

Most industrial machinery components, such as heavy-duty machinery and processing equipment, are made of plastic, which can be used together with metals. In Asia Pacific, there are favorable tax incentives for foreign businesses. This will lead to an increase in manufacturing utilities and a need for industrial machinery.

Regional Insights

The Asia Pacific market held 35% of global volume share in 2015. The growth of key industries such as packaging and electronics, along with growing consumer interest in sustainable and recyclable products, is expected to drive regional market growth.

The Latin America market is expected to grow due to the expanding food and beverage processing industry as well as a growing preference for convenience food and processed foods. Mexico and Brazil, two of the world's most developing countries, are experiencing strong industrial growth. This is accompanied by a surge in polymer demand. Growth is expected to be boosted by large investments in the construction and automobile sectors of these countries.

North America and Europe are heavily regulated by many legislations from environmental agencies like REACH (Registration, Evaluation, Authorization and Restriction) and EPA. This has forced manufacturers to shift their focus towards bio-based polymers.

Another recent development that is expected to drive demand in the region is the recovery of the European construction and automotive industries. Technological advances have opened the door to innovative packaging options for processed foods in various categories, which has fueled growth in the region.

Market Insights on Polyethylene Terephthalate Compounding

The market for polyethylene terephthalate (PET), compounding is fragmented due to the presence of large and small-scale companies. Dow Chemical Company and RTP Company are major industry players. They include SABIC, LyondellBasell SE, BASF SE. DuPont, SRP Plastics, and Dow Chemical Company. A. Schulman and Polyvisions are also prominent players in the global market.

Up Market Research published a new report titled “Polyethylene Terephthalate Compounding Market research report which is segmented by Application (Material Handling, Electrical & Electronics, Packaging, Automotive, Industrial Machinery, Construction), By Players/Companies Covestro, Washington Penn Plastics, Polyvisions, A Schulman, PET Processors LLC”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Polyethylene Terephthalate Compounding Market Report Segments:

The market is segmented by Application (Material Handling, Electrical & Electronics, Packaging, Automotive, Industrial Machinery, Construction).

Polyethylene Terephthalate Compounding Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Polyethylene Terephthalate Compounding Market

Overview of the regional outlook of the Polyethylene Terephthalate Compounding Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Polyethylene Terephthalate Compounding Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Polyethylene Terephthalate Compounding Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Material Handling

                2. Electrical & Electronics

                3. Packaging

                4. Automotive

                5. Industrial Machinery

                6. Construction

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Polyethylene Terephthalate Compounding Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the Polyethylene Terephthalate Compounding Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.