Global Polyethylene Naphthalate (PEN) Market Report and Forecast 2024-2032

Global Polyethylene Naphthalate (PEN) Market Size

The global polyethylene naphthalate (PEN) market reached a value of nearly USD 303.36 million in 2023. The market is projected to grow at a CAGR of 11.2% between 2024 and 2032 and reach around USD 787.77 million by 2032.

Key Takeaways

• In the food packaging sector, PEN is rising in popularity as a packaging material as it reduces the permeability of gases, flavour, and vapour in or out of containers.

• Indorama Ventures Public Company Limited, Kolon Plastics Inc., and DuPont Teijin Films Ltd. are some major companies in the market.

• The polyethylene naphthalate (PEN) market is driven by the rising demand for electronic goods.

PEN offers oxygen permeability, improved hydrolysis resistance, high heat, temperature resistance, enhanced tensile strength and service temperature, and lower elongation and shrinkage due to its higher glass transition temperature. As a result, PEN outperforms PET in demanding electronics applications, such as electrical insulation, flexible printed circuits, and capacitors in the electronics sector.

Some of the factors driving the polyethylene naphthalate (PEN) market growth are the growing adoption of renewable energy resources and the robust growth of the food packaging sector. PEN-based back sheets for solar panels have high transparency, excellent thermal resistance, long lifetime, high chemical resistance, and good mechanical strength compared to PET. As a result, they find use in solar panel back sheets. In 2022, the global solar power generation increased by a record 270 TWh, a 26% year-on-year surge. Further, solar PV accounted for 4.5% of total global electricity generation.

Regulations for PEN Use in Food Packaging Applications in the USA

• If a manufacturer wants FDA to consider the use of recycled plastic for a food-contact application, they should provide a complete description of the recycling process and steps that are taken to ensure that the recyclable plastic is not contaminated.

• Surrogate contaminant testing is not needed to demonstrate that PCR polyethylene terephthalate (PET) or PEN produced by a tertiary recycling process is suitable for food-contact use. This is because the FDA has determined that tertiary recycling processes produce PCR-PEN or PET with suitable purity for food-contact use.

• Further, they need to provide a description of the proposed conditions of plastic use. For instance, information on the intended temperature of use, the food the plastic will come in contact with, the duration of the contract, and whether the plastic will be for repeated or single-use applications.

Polyethylene Naphthalate (PEN) Market Report Snapshots

Polyethylene Naphthalate (PEN) Market Size

Polyethylene Naphthalate (PEN) Market Trends

Polyethylene Naphthalate (PEN) Market Regional Analysis

Polyethylene Naphthalate (PEN) Companies