Growing demand for polyethylene terephthalate glycol from food packaging and medical industries is a key factor providing impetus to the global market. According to Future Market Insights, Inc. (FMI), the global Polyethylene Terephthalate Glycol (PETG) Market sales are forecast to accelerate at 3.3% CAGR between 2023 and 2033. The total market size is likely to increase from US$ 2,747.8 million in 2023 to US$ 3,818.9 million by 2033.
Polyethylene terephthalate glycol (PETG) finds its application across diverse industries. Mainstream consumers of PETG utilize it for packaging purposes owing to its various advantages.
Food packaging, medical packaging, and cosmetic bottles are a few of the most grossing application areas, which are predominantly consuming PETG across the world. 3D printing, automotive films, building and construction, and a few other industries are also investing in product offerings to relish various advantages of PETG-based products.
Polyethylene terephthalate glycol possesses high impact resistance and good thermal stability that makes it ideal for applications such as 3D printing. Its safe nature also makes it suitable for making food packaging such as containers and bottles.
Polyethylene terephthalate glycol is also being used as a substance for medical implants and medical packaging. Hence, widening applications across various industries will elevate PETG demand over the projection period.
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Despite such a wide array of applications and driving factors, sales prospects of PETG are witnessing sluggish growth. Implementation of various stringent regulations over the use and disposal of PETG is hampering its growth rate. Awareness of environmental protection and plastic waste is likely to impede the growth of the market.
In order to counter this, companies are launching new innovative products that are biodegradable. For instance, recently, Bio PETG, an environmentally friendly PETG filament was launched. Development of these eco-friendly products will help the market to thrive during the next ten years.
“Widening application of PETG in medical and food industries will boost polyethylene terephthalate glycol (PETG) market over the forecast period,” said an analyst at FMI.
Key Takeaways from Polyethylene Terephthalate Glycol (PETG) Market Study
- The worldwide polyethylene terephthalate glycol (PETG) industry is forecast to expand at 3.3% CAGR during the assessment period.
- By application, the containers/packaging segment will continue to hold a significant share of the global PETG market through 2033.
- Based on the end-use industry, most of the PETG demand is expected to arise from the medical sector.
- South Asia Pacific and East Asia are expected to collectively hold more than half of the market share in the global PETG market.
- The USA polyethylene terephthalate glycol (PETG) market is forecast to exhibit a moderate CAGR during the projection period.
- India is expected to remain a lucrative market for PETG over the next few years.
Who is Winning?
A few of the leading manufacturers of polyethylene terephthalate glycol (PETG) are profiled in the full version of the report
- Eastman Chemical Company
- Clariant Ltd
- SK chemicals
- SM Kunststofftechnologie GmbH
- Integrated Packaging Films Inc.
- Preferred Plastics, Inc.
- Industrial Plastics Belgium (IPB NV)
- Shandong Shenghe Plastic Ltd.
- Celanese Corporation
- Daicel Corporation
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More Insights into the Polyethylene Terephthalate Glycol (PETG) Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the global Polyethylene Terephthalate Glycol (PETG) market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on grade, application, end-use industry, and Region.
Key Segments Covered in Polyethylene Terephthalate Glycol (PETG) Industry Research
By Grade:
- Extruded Grade
- Injection Molding Grade
- Blow Molding Grade
By Application:
- Prototypes
- Containers/Packaging
- Tools, Jigs, Fixtures
- Equipment & Machinery
- Others
By End-use Industry:
- Food and Beverage
- Cosmetics
- Medical
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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