PET RESIN MARKET OVERVIEW
PET Resin Overview
Polyethylene Terephthalate commonly known as PET or PETE is the most used polymer in the world. It is naturally transparent and semi-crystalline plastic used widely for products used in our day-to-day life. PET (also abbreviated PETE) is short for polyethylene terephthalate, the chemical name for polyester.
Uses & Application insights
PET is a clear, strong, and lightweight plastic that is widely used for packaging foods and beverages, especially convenience-sized soft drinks, juices, and water. It is also popular for packaging salad dressings, peanut butter, cooking oils, mouthwash, shampoo, liquid hand soap, window cleaner, even tennis balls. Special grades of PET are used for carry-home food containers and prepared food trays that can be warmed in the oven or microwave.
PET is approved as safe for contact with foods and beverages by the FDA and health-safety agencies throughout the world
Because of PET’s unique properties, it is rapidly becoming the world’s preferred packaging material for foods and beverages. Like glass, it is a very strong and inert material that does not react with foods, is resistant to attack by micro-organisms, and will not biologically degrade. But unlike glass, PET is extremely lightweight, easy and efficient to transport, and shatterproof.
In the 60 years since PET was first synthesized, it has become one of the world’s most widely used, versatile, and trusted materials.
Asia-Pacific accounted for more than 30% share of the total revenue in 2016, followed by Europe and North America. The PET market in the Asia-Pacific region is driven by the factors, such as population growth, the rise in disposable income, urbanization in developing economies, and growing demand for fast-moving consumer goods. China accounted for more than 15% of the global market and the demand is expected to grow drastically during the forecast period. China is also a major producer of PET resins with the PetroChina Group and Jiangsu Sangfangxiang among the global largest manufacturers in terms of volume, with capacities of more than 2 million tons. The Asia-Pacific electronic industry grew rapidly in the recent past, owing to the high demand from countries, like India and China. China is a strong, favorable market for electronics producers, owing to the country’s low labor cost and flexible policies. Also, the Indian electronics market is expected to reach USD 400 billion by 2025. Additionally, India is expected to become the fifth-largest consumer electronics and appliances industry in the world by 2025. All the aforementioned factors, in turn, are expected to increase the demand for PET resin in the region during the forecast period.
The major players in the market include:
- Indorama Ventures Public Company Limited
- Alpek SAB de CV
- Sinopec Group
- Far Eastern New Century Corporation
- CR Chemical Materials Technology Inc
TLD Vietnam can provide all customers with PET Resin from many sources around the world: Europe, China, Arab, … and especially Vietnam. The application segment is categorized into beverages, sheet & films, consumer goods, food packaging, and others. On the basis of end-use industry, the market is classified into packaging, electrical & electronics, automotive, construction, and others. In TLD Vietnam, we have all the grades with different IV, which can be used in almost every application. Depending on your specific inquiry on the technical sheet or requirement, we are able to suggest to you our most suitable grades. Our PET sources can supply to all customers in every market, every industry in the shortest time and best price. The materials are mostly in stock and prompt shipments in this high peak time of space and freight.