Polyethylene Terephthalate-Glycol (PETG) Market

Polyethylene Terephthalate-Glycol (PETG) Market Outlook

As per rigorous research by ChemView Consulting, our analysts believe that the global polyethylene terephthalate-glycol (PETG) market will grow at a 3.9% CAGR during the period 2023–2033 to reach a valuation of US $3756 million by 2033.

Key Findings on the Polyethylene Terephthalate Glycol Market

1. Which is the largest market for polyethylene terephthalate-glycol (PETG)?

The biggest market for polyethylene terephthalate-glycol (PETG) is East Asia. As per our analysis, East Asia holds nearly 36.5% share of the polyethylene terephthalate-glycol (PETG) market.

2. What is the largest end use segment within the polyethylene terephthalate-glycol (PETG) market?

As per ChemView Consulting, the largest segment by end use is food & beverage. As per our analysis, this segment accounts for nearly 43.7% of total revenues.

3. At what rate is the polyethylene terephthalate-glycol (PETG) market expected to grow?

The polyethylene terephthalate-glycol (PETG) market is expected to grow at a CAGR of 3.9% during the period 2023–2033.

4. What are the major trends influencing the polyethylene terephthalate-glycol (PETG) market?

• Innovation in Additives: Manufacturers are exploring novel formulas and additives to improve the qualities of PETG, such as UV resistance, flame retardancy, and antimicrobial capabilities. These developments could expand the scope of PETG’s potential applications, opening new opportunities for companies.
• Shift towards E-Commerce: The advent of e-commerce has raised the demand for safe packaging solutions that can withstand the rigors of shipping. PETG’s toughness and impact resistance could make it an attractive material for e-commerce packaging, protecting products during transportation.

5. Who are the leading players in the polyethylene terephthalate-glycol (PETG) market?

The key companies in the polyethylene terephthalate-glycol (PETG) market are Shandong Shenghe Plastic Ltd., Fujian Billion Petrochemicals, SM Kunststofftechnologie GmbH, Coca-Cola India, The Recycling Partnership, Clariant Ltd., Celanese Corporation, Eastman Chemicals Company, SK Chemicals, and Daicel Corporation.

Key Drivers for Polyethylene Terephthalate-Glycol Demand

• In an era where sustainability is critical, PETG’s recyclability and low environmental impact have attracted a lot of attention. As consumers and industry prioritise eco-friendly solutions, PETG’s capacity to be recycled and repurposed presents it as a viable option, particularly in packaging and single-use plastic alternatives.
• Additionally, PETG’s biocompatibility, chemical resistance, and ease of sterilisation have made it a popular choice in the healthcare industry. PETG’s growth is closely related to the rise of the healthcare business, from medical device components to pharmaceutical packaging.
• Furthermore, the PETG sector profits from changing consumer preferences, particularly the demand for personalised and aesthetically appealing items. PETG is a material that is perfect for customisable designs in consumer goods due to its transparency and simplicity of colouring, which is what propels industry expansion.

Key Challenges Inhibiting Demand for Polyethylene Terephthalate-Glycol (PETG)

• • The availability and cost of raw ingredients such as glycol and terephthalic acid are critical to the PETG companies. Price fluctuations in these raw materials can have an impact on the overall production cost of PETG, thereby affecting market stability and pricing.
  • Moreover, rapid technological growth might result in the development of new materials that are better than PETG in terms of characteristics. If these materials provide improved performance or environmental benefits, PETG’s market share and demand may decline.

Key Challenges & Opportunities for Polyethylene Terephthalate-Glycol (PETG) Manufacturers

• PETG manufacturing necessitates precise temperature and pressure control. Variations in processing conditions might cause product flaws, including warping or uneven thickness. Therefore, manufacturers must invest in innovative processing equipment and maintain stringent quality control to ensure consistent product quality.
• However, as emerging nations continue to industrialise, the need for high-quality materials such as PETG is likely to expand. Manufacturers can explore strategic collaborations, distribution networks, and market entry strategies to grow their customer base and enter new geographies.

Country/Region-wise Insights

US Polyethylene Terephthalate-Glycol (PETG) Market Forecast

• The increased emphasis on environmentally conscious solutions in the US market is projected to observe significant growth in the estimated period.
• Moreover, government laws aimed at minimising single-use plastics are also expected to boost PETG use, pushing innovation in its applications and manufacturing techniques.

Europe Polyethylene Terephthalate-Glycol (PETG) Market Outlook 

• The continuous technological developments in PETG production and processing methods in the Europe market are anticipated to drive sales in the market over the assessment period.
• In addition, the growing preference for PETG over traditional materials owing to its cost-effectiveness and versatility is driving its adoption in manufacturing processes.

Japan Polyethylene Terephthalate-Glycol (PETG) Market Forecast

• A growing middle class, rising disposable income, and a shift in consumer preferences towards sustainable and high-performance materials in the Japan market are anticipated to drive the market over the forecasted period.
• In addition, Japan’s advanced manufacturing infrastructure and technological prowess offer favourable conditions for PETG production and innovation, creating a robust market ecosystem.

China & India Polyethylene Terephthalate-Glycol (PETG) Market Forecast

• The shift towards environmentally friendly and durable materials in the China & India market is anticipated to fuel the market over the forecast period. China & India polyethylene terephthalate-glycol market is likely to account for a leading share of the global polyethylene terephthalate-glycol (PETG) market.
• In addition, advances in manufacturing methods and technology have increased the efficiency and quality of PETG production, making it an appealing option for a variety of applications across industries.

Polyethylene Terephthalate-Glycol (PETG) Market Outlook & Forecast by Segmentation

By Product Type

Based on product type, the injection molding grade segment is expected to remain at the forefront of polyethylene terephthalate glycol market share over the assessment period. The growth is mainly because PETG offers a unique set of characteristics that make it suited for a wide range of applications. It combines the transparency and hardness of polycarbonate with traditional polyethylene terephthalate’s (PET) simplicity of production. This adaptability makes it appealing for a wide range of injection molding applications.

Moreover, PETG has excellent melt flow characteristics, allowing it to be processed immediately in injection molding equipment. Its low processing temperature and limited processing challenges contribute to its appeal in injection molding operations.

By Application

Based on application, the containers/packaging segment is expected to remain at the forefront of polyethylene terephthalate glycol market share over the assessment period. The growth is mainly because advances in manufacturing technology have allowed for innovative packaging designs that were not possible before. PET-G can be utilised in processes such as 3D printing to create unique and elaborate package designs.

In addition, with the rise of e-commerce, packaging is becoming increasingly important in ensuring that products reach their destination undamaged. PET-G’s durability and protective characteristics make it an ideal material for e-commerce packaging that can resist transit.

By End Use

Based on end use, the food & beverage segment is set to account for 43.7% of the polyethylene terephthalate glycol market share over the assessment period. The growth is mainly because PET-G can be used in a variety of food and beverage products, from bottled water and soft beverages to sauces, dressings, and even dairy products. This adaptability contributes to its extensive adoption across the sector.

Additionally, with increasing consumer awareness and demand for sustainable packaging solutions, PET-G’s recyclability is a crucial factor leading to its growth in the food and beverage industry. PET-G can be recycled and utilised to make new packaging materials, minimising the environmental impact of single-use plastics.

Which Company Owns the Largest Share in the Polyethylene Terephthalate-Glycol (PETG) Market?

The key companies in the polyethylene terephthalate-glycol (PETG) market are Shandong Shenghe Plastic Ltd., Fujian Billion Petrochemicals, SM Kunststofftechnologie GmbH, Coca-Cola India, The Recycling Partnership, Clariant Ltd., Celanese Corporation, Eastman Chemicals Company, SK Chemicals, and Daicel Corporation.

Recent Developments:

• In June 2023, Coca-Cola India, the Coca-Cola Company’s subsidiary, launched brand-new bottles made entirely of recycled PET plastic (rPET) in Andhra Pradesh. This is the first time that a bottle constructed entirely of rPET is being used for food/beverage.
• In March 2023, Fujian Billion Petrochemicals, a refinery company that China Petroleum owns, plans to launch a new PET (polyethylene terephthalate) factory in Go Dau city.
• In June 2022, The Recycling Partnership, an independent, 501(c)(3) organisation founded by The Aluminum Association as a collaboration with other material companies to encourage curbside recycling, launched its polyethylene terephthalate recycling coalition, a project informed by corporate knowledge and expertise to expand PET circularity.

As per our analysis, the companies that hold the largest share in the market are

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Clariant Ltd.

Founded in 1995 and with headquarters in Muttenz, Switzerland, it is a global manufacturer of specialised chemicals.

Eastman Chemicals Company

Founded in 1920 and with headquarters in Kingsport, Tennessee, United States, it is largely engaged in the chemical sector.

SK Chemicals.  

Founded in 1969 and with headquarters in Seongnam-si, South Korea, it is an organisation involved in the production of chemical products.

Celanese Corporation

Founded in 1918 and with headquarters in Irving, Texas, United States, it is a globally recognised leader in engineered materials.

Daicel Corporation

Founded in 1919 and with headquarters in Osaka, Japan, it is a chemical firm. Its businesses include organic chemicals, celluloid technologies, polymers, high-performance chemicals, and pyrotechnic devices.

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