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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Polyethylene Naphthalate (PEN) Market Trends
Many notable consumer-packaged-goods companies such as Nestlé S.A. and The Kraft Heinz Company are committed to reducing their packaging waste and increasing recyclability in packaging. This key trend favours the demand for esters such as PEN in the packaging sector due to their property of recyclability.
Furthermore, the PEN demand from the automotive sector is surging due to expanding EV demand. In 2022, the global electric car market witnessed exponential growth, with sales exceeding 10 million. In March 2023, the EU adopted new CO2 standards for cars and vans calling for a 55% and 50% reduction in emissions of new cars and vans by 2030 as compared to 2021, and 100% for both vehicles by 2035. Such regulations are expected to favour the polyethylene naphthalate (PEN) market expansion in the coming years.
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
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market value was nearly USD 303.36 Million.
The market is projected to grow at a CAGR of 11.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 787.77 million by 2032.
The major drivers include the superior performance of PEN over PET and downstream demand for PEN from the electronics, automotive and food packaging sectors.
The key trends include the growing adoption of solar energy systems and the growing application of PEN in EV production.
The different types of PEN include film, fibre, and resin.
The major applications of polyethylene naphthalate (PEN) include beverage bottles, food packaging, electronic goods, rubber tyres, and textiles, among others.
The major players in the market include Indorama Ventures Public Company Limited, DuPont Teijin Films Ltd. (Toyobo Co. Ltd.), and Kolon Plastics Inc.
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United States (Head Office)
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124