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Revenue Pockets: PET & PBT Resin Market
Currently, the demand of PET resins is driven by the bottle, film, food packaging and Others) where as PBT resin demand by the global automotive, electrical & electronics, consumer goods, industrial, and others. The drivers of the PET resin industry are replacing traditional packaging material such as glass, paper, metal, and aluminum, owing to its high strength, light weight, clarity, long-term durability, and design plasticity. It is extensively used for packaging products such as foods and beverages, especially convenience-sized soft drinks, juices and water. Moreover, PET is the only polyester which is recyclable among the competing thermosetting material available in the material. PBT as an engineering plastic features thermal, dimensional, and moulding stability. It has high heat resistance and superior electrical properties which results in increasing its penetration in automotive and electronic application. PBT enables weight reduction and fuel efficiency in car compared to steel and aluminum which drives demand for PBT resin. Recovery of GDP growth, spending levels, employment rates, and rise in investment levels will support growth in PBT Market.
There are various markets, especially in the Asia-Pacific and ROW region, where the volumetric consumption of PET & PBT products is increasing due to new projects and environmental rules and regulations. The consumption has increased considerably in the past two years and it is expected to improve in the next five years. The increasing purchasing power in developing countries, economic growth, potential projects supported by respective governments, and the need for high performance products will add to greater demand in the future.
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
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