Global Polyethylene Terephthalate Market Growth Analysis - Market Size, Share, Forecast Trends and Outlook Report (2025-2034)

Global Polyethylene Terephthalate Market Growth

As per the 2022 PET Recycling Report published by the National Association for PET Container Resources in North America, average PET recycling rates in the region were recorded at 37.8%. One of the notable polyethylene terephthalate market trends was the rising incorporation of recycled PET (50%) into plastic bottles. In 2022, the use of recycled content in PET bottles grew by 15% in the United States. Over the forecast period, enhanced accessibility to PET recycling infrastructure worldwide is expected to play a critical role in driving the market growth.

The growth of circular economy start-ups worldwide is expected to positively influence the polyethylene terephthalate market dynamics. In 2022, these businesses attracted an investment of USD 5.4 billion from global investors. In Germany alone, there are 171 circular economic start-ups, which makes it a regional leader in Europe (followed by France and the Netherlands). In 2020, the global circular economy size was around EUR 148 billion, which is expected to record a 78% growth by 2030. Since packaging accounts for 40.5% of plastic’s application in Europe, the demand for recycled PET is expected to increase significantly as companies focus on achieving a smaller carbon footprint. rPET can withstand temperatures up to 70 degrees Celsius and can also be used to make fabrics.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Key Trends and Developments

Global Polyethylene Terephthalate Market Trends

As per the market analysis, nearly 90.9% of its vehicle exports were directed towards Russia (909,000). In Q4 2023, Mexico (66,000), Belgium (42,000), and the United Kingdom (38,000) emerged as the primary export markets for the country, with Russia receiving 112,000 vehicles. This is expected to fuel the polyethylene terephthalate market value over the forecast period. As per industrial analysis, ICE vehicles accounted for 76.8% of exports, followed by new energy vehicles (23.2%).

Global Polyethylene Terephthalate Industry Segmentation

Global Polyethylene Terephthalate Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the demand for PET in the Asia Pacific is expected to grow at a CAGR of 7.6% due to the increasing automotive production. Moreover, the polyethylene terephthalate market development is being driven by the growth of e-commerce industry and the establishment of large-scale plastic recycling infrastructure in various countries.

Leading Companies in the Global Polyethylene Terephthalate Market

Other players included in the polyethylene terephthalate market report are LyondellBasell Industries N.V., Saudi Basic Industries Corporation, NAN YA Plastics Industrial Co., Ltd., LOTTE Chemical CORPORATION, TEIJIN LIMITED, and NEO GROUP, among others.