The global polyethylene terephthalate (PET) compounding market is expected to reach USD 7.82 billion by 2024, according to a new report by Grand View Research, Inc. Rising polymer demand in end-use industries such as packaging, automotive, electrical & electronics and constructions is expected to remain a key driving force for PET compounding market growth.
Strong demand for PET bottles coupled with growing packaged food & beverage industry in emerging economies of Asia Pacific and Latin America such as China, India, Mexico, and Brazil are anticipated to fuel industry growth significantly.
Regulatory agencies to reduce Green House Gas (GHG) emissions by means of vehicular weight reduction and fuel efficiency improvements have formulated policies and guidelines. Automotive manufacturers & OEMs in order to meet these regulations have adopted plastics as a replacement for metals such as aluminum and steel.
Packaging accounted for over 55% of overall market volume in 2015. Growth in packaging industry can be attributed to the suitability of PET compounds to meet customer requirements with more durable, lightweight and corrosion-resistant parts.
Full Research Report On Polyethylene Terephthalate (PET) Compounding Market Analysis: www.grandviewresearch.com/industry-analysis/polyethylene-terephthalate-pet-compounding-market
U.S. polyethylene terephthalate (PET) compounding market revenue by application, 2014 – 2024 (USD Million)
Further key findings from the study suggest:
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Grand View Research has segmented the PET compounding market on the basis of application and region:
Global Polyethylene Terephthalate (PET) Compounding Application Outlook (Volume, Kilo Tons; Revenue, USD Million 2014 – 2024)
Global Polyethylene Terephthalate (PET) Compounding Regional Outlook (Volume, Kilo Tons; Revenue, USD Million 2014 – 2024)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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