Crystalline Polyethylene Terephthalate Market - By Manufacturing Process (Extrusion Process & Molding Process), By Application (Bottles & Containers, Packaging, Tape, Transparent Films/Sheets, & Others), By End Use Industry (Food & Beverages, Pharmaceutical, Automotive, & Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030.

Report Code: CMR 0313 Report Format: PDF + Excel

Crystalline Polyethylene Terephthalate Market Overview

Crystalline Polyethylene Terephthalate Market size is forecast to reach $27.2 billion by 2030, after growing at a CAGR of 9.2% during 2024-2030. CPET, or crystallised polyethylene terephthalate, is a high-performance plastic that is used for numerous packaging and engineering applications.  It is a prevalent choice for packaging due to its excellent heat resistance, durability, and barrier properties. CPET containers are commonly used in the hospitality industry for takeaway meals and ready-to-eat foods, as they are versatile, can withstand high temperatures, and are both microwaveable and oven proof. The market's robust growth is propelled by the distinctive advantages offered by CPET, including superior properties such as enhanced durability, chemical resistance, and recyclability. The utilization of CPET often involves recycled materials, aligning with environmental conservation principles and further bolstering the positive trajectory of the Crystalline Polyethylene Terephthalate Market.

Market Snapshot:


Crystalline Polyethylene Terephthalate Market Report Coverage

The report: “Crystalline Polyethylene Terephthalate Market- Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Crystalline Polyethylene Terephthalate Industry.

By Manufacturing Process: Extrusion Process and Molding Process.
By Application: Bottles and Containers, Packaging, Tape, Transparent Films/Sheets, and Others.
By End Use Industry: Food & Beverages, Pharmaceutical, Automotive, and Others.
By Geography: North America, South America, Europe, APAC, and RoW.

Key Takeaways:

Asia Pacific dominates the Crystalline Polyethylene Terephthalate Market owing to rapid increase in food and beverages sector especially packaged foods.
The market is mainly driven by the demand for sustainable packaging. 
The superior properties of crystalline polyethylene terephthalate also contribute to its growing demand
Fluctuation in raw material prices may prove to be a challenge for the crystalline polyethylene terephthalate market.

Crystalline Polyethylene Terephthalate Market Segment Analysis - By Manufacturing Process

Molding process held the largest share in the Crystalline Polyethylene Terephthalate Market in 2023. This growth is mainly attributed to the increasing demand for polyethylene terephthalate in varied applications such as making of bottles, containers, trays and cups. The molding process enables the production of intricate and customized CPET products, ensuring consistency and high-quality output. Its adaptability to mass production, cost-effectiveness, and ability to maintain CPET's desired properties make molding the preferred choice in terms of manufacturing process. 

Crystalline Polyethylene Terephthalate Market Segment Analysis - By Application

Packaging held the largest share in the Crystalline Polyethylene Terephthalate Market in 2023. Crystalline polyethylene terephthalate is used in packaging because of its extreme rigidity and the capability to resist high temperature ranging from -400 F to 4000 F. It is non-toxic and very safe for the packaging of food and beverages.  cPET packaging has excellent resistance to aggressive chemical agents and organic and inorganic substances (including oils, fats, etc.) and have excellent physiological behavior (odorless, tasteless) which makes it perfect for use in the packaging of food and beverages. 

Crystalline Polyethylene Terephthalate Market Segment Analysis - By End Use Industry

Food and Beverage industry dominates the Crystalline Polyethylene Terephthalate Market growing in 2023 at a CAGR of 14.2%. The advent of modern urban dynamic lifestyle has created a demand for ready-to-eat food to be met by food product manufacturers. Data from the study, Digital Economy Payments: Consumers Buy Into Food Bargains, which drew from a July 2022 survey of nearly 2,700 U.S. consumers, revealed that 37% of consumers had bought prepared food on their most recent grocery trip, up 7% from consumers who had done so back in November 2021. As per NIQ’s 2023 Consumer Outlook survey, in France, 22% of consumers bought ready meals in the December 2022, and 14% of them chose microwaveable meals over other types of ready meals. This is a significant increase from 2019, when only 15% of consumers bought ready meals and 9% of them opted for microwaveable meals. With the growing preference for microwaveable meals, the demand for crystalline polyethylene terephthalate is anticipated to rise.

Crystalline Polyethylene Terephthalate Market Segment Analysis - By Geography

Asia Pacific region held the largest share in the Crystalline Polyethylene Terephthalate Market in 2020 with a market share of 40%, owing to the growing food and beverage industry in the region. According to the All India Food Processors Association, the Indian food and beverage packaging industry is growing by 14.8% annually and is expected to reach $86 billion in 2029, following rapid urbanisation, rising disposable incomes and evolving consumption patterns. According to the Japanese Ministry of Economy, Trade, and Industry’s Production Status Survey, the combined production quantity of the four primary packaging materials from January to October 2022 reached 2,593,075 tons. Notably, plastic containers, driven by advancements in recycling technologies and the promotion of recycled plastics, recorded a 2.9% increase. Thus, the APAC region is set to dominate the Crystalline Polyethylene Terephthalate Market.

Crystalline Polyethylene Terephthalate Market Drivers

Rise in Demand for Sustainable Packaging material:
Sustainable packaging has been one of the fastest-growing trends in the packaging world. The rise in demand for sustainable packaging is due to the rising environmental awareness. According to the 2023 Buying Green Report by Trivium Packaging, based on a survey of more than 9,000 consumers across Europe, North America, and South America, consumers are increasingly willing to pay more for products in sustainable packaging. 82% of respondents overall would be willing to pay more for sustainable packaging, up four points from 2022, and eight points since 2021, signalling that even with a worsening economic situation, the environment remains a consumer priority. Major FMCG (Fast-Moving Consumer Goods) manufacturers such as Unilever and Procter & Gamble have made commitments to transition completely to sustainable packaging. These initiatives by leading companies worldwide are contributing to the growth of crystalline polyethylene terephthalate market.

Superior Properties of crystalline Polyethylene Terephthalate:
The superior properties of crystalline polyethylene terephthalate are driving the market. Its ability to undergo repeated recycling without compromising its inherent qualities positions cPET as a sustainable and eco-friendly choice in the packaging industry. Moreover, the increasing demand for environmentally responsible packaging solutions amplifies the significance of cPET. The Packaging and Packaging Waste Directive is a key driver of increasing recycling rates in the EU. Recycling targets set out in the Waste Framework Directive and the Directive on packaging and packaging waste. According to the targets, 50% of plastic packaging will have to be recycled in the EU and 55% by 2030. The recycling infrastructure in Europe, coupled with stringent environmental regulations, further propels the market, as manufacturers prioritize materials that contribute to circular economy goals. As sustainability becomes a central focus, cPET emerges not only as a versatile material but also as a key driver for packaging industries worldwide.

Crystalline Polyethylene Terephthalate Market Challenges

Fluctuation in the price of Raw material:
The raw material comprises of ethylene glycol, dimethyl terephthalate or terephthalic acid. The prices are dependable on the price of the crude oil and the prices fluctuate. Given the geopolitical tensions due to the Russia Ukraine war, the price of crude oil reached an all-time high in 2022. On 6 March 2022, the US Secretary of State announced that the US administration and its allies were discussing a ban on Russian oil supplies. This led to a jump in oil prices to US$139 a barrel (WTI). Additionally, the rising prices of raw materials, the energy prices and inflation due to the war have led to closures and disruptions of PET plants. In September 2023, the joint venture partners of Corpus Christi Polymers decided to pause the construction of the integrated purified terephthalic acid-polyethylene terephthalate (PTA-PET) plant in Texas, US citing inflation, high interest rates, and labour shortages. 

Crystalline Polyethylene Terephthalate Market Landscape

The top 10 players in the Crystalline Polyethylene Terephthalate Market are 
2. Dow Chemical Company
3. DAK America
4. Clariant AG
5. Eastman Chemical Company
7. JBF Industries Ltd
8. Indorama Ventures
9. Nan Ya Plastics Corporation
10. Reliance Industries

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1. Crystalline Polyethylene Terephthalate Market- Market Overview
    1.1 Definitions and Scope
2. Crystalline Polyethylene Terephthalate Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Manufacturing Process
    2.3 Key Trends by Application
    2.4 Key Trends by End-Use Industry
    2.5 Key Trends by Geography
3. Crystalline Polyethylene Terephthalate Market- Landscape
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Crystalline Polyethylene Terephthalate Market - Startup companies Scenario Premium
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Crystalline Polyethylene Terephthalate Market– Industry Market Entry Scenario Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful venture profiles
    5.4 Customer Analysis - Top companies
6. Crystalline Polyethylene Terephthalate Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Crystalline Polyethylene Terephthalate Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. Crystalline Polyethylene Terephthalate Market– By Manufacturing Process (Market Size -$Million)
    8.1 Extrusion Process
    8.2 Molding Process
9. Crystalline Polyethylene Terephthalate Market– By Application (Market Size -$Million)
    9.1 Bottles and Containers
    9.2 Packaging
    9.3 Tape
    9.4 Transparent Films/Sheets
    9.5 Others
10. Crystalline Polyethylene Terephthalate Market– By End-Use Industry (Market Size -$Million)
    10.1 Food & Beverages
    10.2 Pharmaceutical 
    10.3 Automotive
    10.4 Others
11. Crystalline Polyethylene Terephthalate Market - By Geography (Market Size -$Million)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 South America
        11.2.1 Brazil
        11.2.2 Argentina
        11.2.3 Colombia
        11.2.4 Rest of South America
    11.3 Europe
        11.3.1 UK
        11.3.2 Germany
        11.3.3 France
        11.3.4 Italy
        11.3.5 Spain
        11.3.6 Russia
        11.3.7 Rest of Europe
    11.4 Asia Pacific (APAC)
        11.4.1 China
        11.4.2 Japan
        11.4.3 India
        11.4.4 South Korea
        11.4.5 ANZ
        11.4.6 Indonesia
        11.4.7 Rest of Asia Pacific
    11.5 Rest of World (RoW)
        11.5.1 Middle East
   Saudi Arabia
   Rest of Middle East
        11.5.2 Africa
   South Africa
   Rest of Africa
12. Crystalline Polyethylene Terephthalate Market- Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. Market Share Analysis
    13.1 Market Share by Country- Top companies
    13.2 Market Share by Region- Top companies
    13.3 Market Share by type of Product / Product category- Top companies
    13.4 Market Share at global level- Top companies
    13.5 Best Practices for companies
14. Crystalline Polyethylene Terephthalate Market- List of Key Companies by Country
15. Crystalline Polyethylene Terephthalate Market Company Analysis
    15.1 Market Share, Company Revenue, Products, M&A, Developments
    15.2 Company 1
    15.3 Company 2
    15.4 Company 3
    15.5 Company 4
    15.6 Company 5
    15.7 Company 6
    15.8 Company 7
    15.9 Company 8
    15.10 Company 9
    15.11 Company 10 and more
"*Financials would be provided on a best-efforts basis for private companies."

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