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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Polyethylene Naphthalate (PEN) Market Analysis by Region
The Asia Pacific accounts for a major market share due to government initiatives aimed at promoting the expansion of the chemical sector. Initiatives such as the 14th Five Year Plan in China for the development of the chemical fibre sector support the production and adoption of PEN. China is the largest producer and consumer of ethylene glycol, globally which is a key raw material for PEN production.
The Europe polyethylene naphthalate (PEN) market is driven by the growing need for sturdy packaging. The packaging sector accounts for about 40% of Europe's plastic production. PEN's attributes like shrinkage resistance, dimensional stability, superior barrier qualities, and heat resilience make it a favoured barrier material.
Meanwhile, North America holds a growing PEN market share, driven by the rapid growth of the food packaging sector. Due to its lightweight nature and recyclability, as well as the ability to reduce oxidation of food, PEN is witnessing a rise in popularity as a favoured material for food and beverage packaging.
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