Polyethylene Terephthalate Additives Market Revenue, Vendor Landscape and Strategic Framework

Posted on 2023-06-06 by researchinsights in Industrial // 0 Comments

San Francisco, Calif., USA, June 06 2023 — /EPR Network/ —

Polyethylene Terephthalate Additives Industry Overview

The global polyethylene terephthalate additives market size was valued at USD 1.28 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. The majority of the market growth is seen in the packaging industry. Polyethylene terephthalate is known as a strong, transparent, and lightweight plastic. However, the PET polymer faces certain limitations with regards to its properties, which impact its growth in various applications, such as electronics, automotive, construction, and industrial machinery packaging. The polyethylene terephthalate (PET) additives impart the required properties like antistatic, color, odor scavenging, and flame retardancy among others to make them suitable to be used in various end-use industries.

In the automotive industry, durable aesthetic properties and weather resistance make it suitable for rear wiper arms & blades, and side mirrors. PET additives exhibit excellent mechanical properties, weather resistance, and appearance for exterior components in the automotive industry. Also, increasing the use of plastic components to achieve weight reduction is likely to boost the demand for plastic components, which is anticipated to fuel the demand for PET-based products thus fueling the market growth. In the construction industry, the flame-retardant property of PET additives can delay the fire ignition and spread, which increases the escape time, making them a critical part of plastic components used in construction.

Gather more insights about the market drivers, restraints, and growth of the Global Polyethylene Terephthalate Additives Market

The packaging industry is witnessing a growing demand for colored plastics since the colors represent the brand image among consumers. The global packaging industry is witnessing significant growth, because of the growing consumption of PET in retail, food, consumer, industrial, and medical packaging. Changing consumer lifestyles have resulted in high demand for ready-to-eat food. Food packaging demands the imposition of strict regulations within the packaging industry, which is expected to drive the demand for PET additives as they help in reducing the acetaldehyde content in PET bottles, which can impact the quality of liquid for human consumption.

The packaging industry in the U.S. is a high-potential market for plastic resins, and as the organized food retail sector grows, so does the usage of polyethylene terephthalate (PET) additives in packaging. The U.S. healthcare industry is massive and is continuing to grow as the population increases. PET is frequently used for tubing for angioplasty balloons, implantable textiles, and extrusion of sutures. PET additives are used to impart properties like antiviral resistance, chemical resistance, and tissue ingrowth promotion in medical-grade PET. Due to the increased production of medical devices in the U.S. because of the growing home health care sector, the PET additive market is anticipated to propel during the forecast period.

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Related Reports

Specialty Fuel Additives Market – The global specialty fuel additives market size was valued at USD 9.76 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.6% from 2023 to 2030.

Antimicrobial Additives Market – The global antimicrobial additives market size was valued at USD 2.87 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2023 to 2030.

Polyethylene Terephthalate Additives Industry Segmentation

Grand View Research has segmented the global polyethylene terephthalate additives market based on function and region:

Polyethylene Terephthalate Additives Function Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)

Color Addition
Antiblock
Antistatic
Ultraviolet Light Barrier
Oxygen Scavenging
Acetaldehyde Scavenging
Flame Resistance
Chain Extender
Odor Scavenger
Reheat
Other

Polyethylene Terephthalate Additives Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)

North America
Europe
Asia Pacific
Central & South America
MEA (Middle East & Africa)

Market Share Insights:

February 2021: Sukano AG tested its PET antiviral additives for providing antiviral effects to PET-based products and achieved the inactivation of the SARS-Cov-2 virus by up to 99.9%. This can help hospitality, sports, medical, and event industries to maintain high hygiene and sanitary standards.

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