The global polyethylene terephthalate glycol (PETG) market size is set to exhibit a CAGR of 3.3% from 2023 to 2033. It is anticipated to surpass a valuation of US$ 3,818.9 million by 2033 from US$ 2,747.8 million experienced in 2023.
According to Future Market Insights, Inc. (FMI), the global Polyethylene Terephthalate Glycol (PETG) Market is 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.
Growing demand for polyethylene terephthalate glycol from food packaging and medical industries is a key factor providing impetus to the global market.
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 carious stringent regulations over the use and disposal of PETG is hampering its growth rate. Awareness towards environment 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, BioPETG, 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
Who is Winning?
A few of the leading manufacturers of polyethylene terephthalate glycol (PETG) profiled in the full version of the report
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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:
By Application:
By End-use Industry:
By Region:
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.
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Feb 19, 2024
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