Global Polyethylene Terephthalate Glycol (PETG) and Response Market: Global Size, Competitive Analysis, Historical & Forecast Analysis, 2021-2028.
Polyethylene Terephthalate-Glycol (PETG) is an unmistakable nebulous thermoplastic which can be infusion formed, sheet expelled and blow shaped. PETG is vapid and shows generally higher straightforwardness.
Rapid advancements in polymer technology, introduction of innovative products from major players, coupled with wide applicability of polyethylene terephthalate-glycol (PETG) from various end use industries such as Food & Beverages, Electronics & Electricals, Automotive, Healthcare & Pharmaceuticals, etc. are major factors expected to drive the growth of global market. Flourishing food & beverage sector across the globe and developing government regulation related to food and beverage packaging is resulting in rising demand for manufacturers for PETG due to its properties such as cost-effective. Players are focused on introduction of innovative products and polyethylene terephthalate-glycol tends to a better solution for bottle and container packing of products.
Government is spending high on the development of healthcare sector, and players are investment high for development of new medical devices, along with wide applicability of PETG in thermoformed trays, clamshell packaging, blister packaging, mounting cards, lids and folding cartons is another important factors expected to further support the growth of target market.
High investment by major players for R&D activities and approach towards development of new grade products is expected to support the revenue traction of target market. Adoption of injection module grade by manufactures is high due to better quality of products.
However, factors such as fluctuating raw material prices and rising environment regulation are expected to hamper the growth of global polyethylene terephthalate-glycol (PETG) market. In addition, stringent government regulation related to use of plastic in packaging is another factor expected to challenge the growth of target market.
The demand for the polyethylene terephthalate glycol (PETG) has increased over the past few years, owing to the rise in the use of the PETG food and beverage industry, which is one of the essential factors, which contributes for the growth of the global polyethylene terephthalate glycol market.
However, slow down or halt manufacturing activities to contain the spread of coronavirus pandemic has led to a decline in the adoption of polyethylene terephthalate glycol, and negatively impacted its demand in various applications across the globe. Manufacturers are experiencing difficulties in running their production units owing to logistic restrictions and limitations on the movements.
Polyethylene Terephthalate Glycol (PETG) Market
Analysis of key manufacturers including Shandong Shenghe Plastic Ltd., SK Chemicals Liaoyang Petrochemicals, Eastman, Bilcare Pvt. Ltd., Magical Film Enterprises, Allen Plastic Industries, PolimexSrl, Kevin Metpack Pvt. Ltd. and Henan Yinjinda New Materials. This section also presents strategies implemented by key participants such as product launch, expansion, and partnership with a detailed impact analysis.
Polyethylene Terephthalate Glycol (PETG) Market Segmentation Analysis
This report segments the global polyethylene terephthalate glycol (PETG) grades, which can be fragmented into extrusion grade PETFG, injection molding grade PETG, and others. In terms of applications, the market can be segregated into films & sheets, bottles/ containers, others. Based on end-users, the market can be divided into, building & construction, food & beverages, electronics & electricals, automotive, healthcare & pharmaceuticals, and others.
The report segments, the global polyethylene terephthalate glycol (PETG) market into
Market By Grade
Extrusion Grade PETG
Injection Molding Grade PETG
Market By Application
Films & Sheets
Market By End User
Building & Construction
Food & Beverages
Electronics & Electricals
Healthcare & Pharmaceuticals
News: Ultimaker added PETG for industrial 3D printing to Platform.
“In May 2021, Ultimaker PETG to provides users with a standard material for industrial applications. Ultimaker, created an extensively tested material profiles to ensure a hassle-free, reliable PETG experience on its 3D printers. PETG, a glycol Modified version of Polyethylene Terephthalate (PET), is among the three materials used for 3D printing.”
Global Polyethylene Terephthalate Glycol (PETG) Market Regional Insights:
North America is the one of the largest market for polyethylene terephthalate-glycol (PETG). Europe is expected to have a significant share after North America. Asia Pacific, North America and Europe are the three key markets for polyethylene terephthalate-glycol (PETG) and account for a significant share in overall global PETG market.
Additionally, Asia pacific market is expected to grow at a significant pace, owing to the presence of large number of end use industries such as food & beverages, healthcare & pharmaceuticals and packaging, among others. Development of new healthcare infrastructure and facilities, increasing number of patient pool, and rise in disposable incomes of people has further accelerated the overall growth of PETG in the region. Growth in these end use industries in the region is expected to directly contribute to the overall growth of the PETG market.