The report "Crystalline Polyethylene Terephthalate Market by Applications (Food Packaging and Beverage Packaging); & by Region (Asia-Pacific, Europe, North America, and Rest of the World) - Global Trends & Forecasts to 2020", The crystalline polyethylene terephthalate (Crystalline PET) market is projected to reach USD 12.16 Billion by 2020 at a CAGR of 9.0% from 2015 to 2020.
This growth is driven by the increasing demand from the food and beverage industry and films/sheets. Asia-Pacific is the largest market for crystalline PET due to presence of large manufacturing base in this region. North America and Europe are established market with major global players present in these regions.
Crystalline PET in the food packaging industry is expected to contribute the maximum share in this market by 2020. Increased demand from the packaged food industry is driving growth in this segment. Physical and chemical properties of C-PET makes it preferable in the packaging industry over other polymers. Also, PET is one of the most recycled polymers, which is another reason for the increasing usage of C-PET in the food packaging industry. Apart from food packaging, beverage packaging is other major application of crystalline PET.
Asia-Pacific accounted for the largest share of the crystalline polyethylene terephthalate market in 2014, followed by Europe and North America. The Asia-Pacific and European regions are further expected to show a high growth in the future. The growth is attributed to the increased consumption of packaged food and more purchasing power of the masses.
