Industry Insights
ET compounds are increasingly used as an alternative to glass & acrylic materials owing to their superior impact resistance. The recent trend of substituting the above stated conventional materials in transportation applications such as windshields & windows is touted to provide lucrative opportunities.
Regulatory intervention regarding usage of conventional plastics in medical devices and food packaging applications have led key manufacturers to develop bio-based alternatives with better biocompatibility. The trend has been a key factor in the development of bio-PET and related compounds.
Global crude oil prices have been witnessing severe fluctuations over the recent past. Social unrest in major crude oil producing regions such as Nigeria, Venezuela, Iraq, Iran, and Libya have adversely affected crude oil supply, thus creating inelasticity in demand and supply balance.
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Application Insights
It is extensively used in the electrical & electronics industry owing to superior characteristics such as flexibility, easy processing, and transparency along with barrier properties. Electrical & electronic housing, sockets, wiring components, enclosures, and switches are few of the products generating significant demand for PET compounds.
Industrial machinery components such as processing equipment, heavy duty machinery, and the related tools mostly contain plastic which is used in conjunction with metals. The favorable environment in Asia Pacific in terms of tax incentives for foreign companies is expected to result in an increasing number of manufacturing utilities in the region, thereby prompting the need for industrial machinery.
Regional Insights
North America and Europe market are highly regulated by numerous legislations from environmental agencies such as REACH (Registration, Evaluation, Authorization and Restriction) and EPA (Environment Protection Agency) have compelled manufacturers to shift focus toward bio-based polymers.
Recovery of automotive and construction industries in Europe is another recent development expected to fuel demand in the region. Technological advancements have paved the way for innovative packaging options in processed foods across various categories, thus driving growth in the region.
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Report Scope
Attribute & Details
Base year for estimation
2016
Actual estimates/Historical data
2014 - 2015
Forecast period
2017 - 2024
Market representation
Volume in Kilotons; Revenue in USD Million & CAGR from 2017 to 2025
Regional scope
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
Report coverage
Revenue forecast, competitive landscape, growth factors and trends
Country Scope
U.S., Canada, Germany, France, UK, China, India, Japan, Mexico, Brazil, Saudi Arabia, UAE
15% free customization scope (equivalent to 5 analyst working days)
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization