PET Market Size, Opportunities, Company Profile, Developments and Outlook 2029
PET Market Size and Forecasts (2022-2029), Latest Dynamics, Product Benchmarking, Competitive Landscape, and Key Trends.
According to Maximize Market Research, the market for PET Market: was worth US$ 27.07 Bn. in 2021 and total revenue is expected to grow at a rate of 7.01 % CAGR from 2022 to 2029, reaching almost US$ 46.55 Bn. in 2029.
In order to identify the market's driving forces and potential growth opportunities, a thorough analysis of the competitive environment, product market sizing, product benchmarking, market trends, product innovations, financial analysis, strategic analysis, and other factors was conducted as part of the PET market research. To assist readers understand the present market dynamics and how they will affect customers from 2022 to 2029, the report also includes a study of important market developments, such as product launches, agreements, acquisitions, partnerships, mergers, and more.
PET Market Overview:
For the purpose of calculating the total market size for PET by regions and market segments, the study analyses each country at the micro level. Using a bottom-up approach, the sizes of the regional and worldwide markets are projected. It is feasible to ascertain how much the unorganised market contributes to the expansion of the bigger market by doing a micro-level analysis of each country. The company must conduct a detailed analysis in order to fully understand the variables impacting, limiting, and providing opportunities in the PET market. Interviews with renowned business owners in the area help to verify the findings. The use of data sources from both for-profit and non-profit organisations is done for secondary research and analysis. The requirement and consumption statistics for each player are calculated by combining data from public, private, and, in the case of publicly traded enterprises, corporate earnings data. If a company's financial records are not right away available, you can get them by getting in touch with the budget office of the local government.
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PET Market Dynamics:
The estimates and projections in the MMR PET Market Report take a close look at the market dynamics. The data helps in its implementation due to the advantages it offers. The decisions taken by corporate stakeholders and industry leaders will also be impacted. Every company has to know how their product will function in the future. This research is essential to comprehending prior disruptions and enhancing readiness for the upcoming decision-making processes due to the current ambiguity surrounding the COVID-19 scenario. Through strategic insights and flexibility in the face of changing circumstances, Maximize Market Research assists business executives in understanding the complex market.
PET Market Segment:
The bearish corn in the virgin plastics market owing to major production volumes planned to come online both in China & the United States will test brand holders’ promises to buying recycled plastics in the year 2020. In China, about 1.7 Mn mt/yr of polyethylene terephthalate capacity will be added in the year 2020. In the United States, 34.35 Mn mt/yr of polyethylene terephthalate capacity will be added in the year 2023 and during the forecast period, the market is expecting Lyondellbasell 550,000 mt/yr HDPE plant to start up by the end of 2022. In the face of inexpensive virgin material, product owners will either bite the bullet & endure buying the more costly recycled material, or decrease recycled plastic buying to least levels. This positions a changed problem, since key player owner promises to minimum recycled plastic content in their packaging are fast approaching.
Regional Analysis:
The five leading geographical regions of the PET market are North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America.
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Research methodology:
To calculate and confirm the size of the global PET market, this study employs top-down and bottom-up approach. To create a lengthy list of well-known and active players, players must adhere to numerous industry classification rules. A detailed validation method is used to identify the market companies that are most pertinent to the enquiry. Priority rankings are created with the help of paid databases like Factiva, Bloomberg, and others, and are then arranged by the revenue from the most recent quarter. Not to mention that a study was developed specifically to address the needs of the key target groups in order to meet the requirements of primary data collection by appointment alone. This makes it simpler for us to gather data on a variety of topics, including player earnings, operating costs, profit margins, and the development of various goods and services. About 70–80% of the data is validated before use using secondary sources, such as the World Bank, associations, corporate websites, SEC filings, OTC BB, USPTO, and EPO, to name a few.
PET Market Key players:
• RTP Company
• BASF
• DuPont
• DSM
• M&G Group
• Indorama Ventures
• PET Processors LLC.
• Lanxess Corporation
• Nan Ya Plastics
• Lyondell Basell Industries N.V.
• Toray Industries
• Jiangsu Sanfangxiang Group
• Far Eastern New Century
• Quadrant AG, Tray-Pak Corporation,
• Verdeco Recycling Inc.
• Eastman Chemical Company
• lpek S.A.B de C.V.
• Reliance Industries Ltd.
• Dhunseri Petrochem Ltd.
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