Polyethylene Terephthalate (PET) worth $64.01 billion by 2029 & Polybutylene Terephthalate (PBT) Resins Market worth $6.37 billion by 2029 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Feb. 24, 2025 /PRNewswire/ -- The report 'Polyethylene Terephthalate (PET) & Polybutylene Terephthalate (PBT) Resins Market by PET Type, PET Application (Bottles, Films, Food Packaging), PBT Application (Electrical & Electronics, Automotive, Consumer Appliance), Region - Global Forecast to 2029', exhibits high growth potential and is projected to reach a market size of USD 57.64 and USD 6.37 billion by 2029 respectively from USD 43.06 and USD 4.93 Billion in 2024 at a CAGR of 6.0% and 5.3% respectively. One of the largest markets for PET & PBT resin worldwide is the Asia Pacific area. The demand for PET & PBT resin is increasing in the bottles, packaging, electricals and electronics, and automotive industry. The demand from developing nations, such as China, India, and Brazil are expected to drive the global PET & PBT resin market.

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In Europe, rPET, by type segment is expected to be fastest growing type for PET resin market during the forecasted period.

rPET (recycled polyethylene terephthalate) is expected to be the fastest-growing segment in the PET resin market in Europe due to rising environmental concerns and sustainability initiatives. European regulations, such as the Circular Economy Action Plan, encourage increased use of recycled materials. Consumer demand for eco-friendly packaging and advancements in recycling technologies also support this trend. Major brands are committing to using more rPET in packaging, further driving the growth of rPET in the European market during the forecast period.

Bottle, by application segment hold the largest share in PET resin market during forecast period.

The largest share in the PET resin market during the forecast period will likely be held by bottles due to their vast application in packaging beverages, food, and other consumer products. Bottles are made with PET as it is lightweight and strong, along with being relatively cheap. Bottles made of PET are therefore gaining increasing prominence due to the rising demand for bottled water, soft drinks, and other convenience food packaging, the trend toward sustainable packaging, and the developments in recycling technologies. Such advancements are set to positively imprint PET bottle market growth by accelerating their share.

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Asia Pacific likely to be the fastest growing region of the global PBT resin market during forecasted period.

The Asia Pacific region shall be a leading contributor to the global PBT (Polybutylene Terephthalate) resin market growth throughout the forecast period. This rise can be attributed to progression in industrialization, increased demand for automotive components, and growth of electronics and electrical sectors in the region. Countries including China, India, and Japan will be the fast-developing nations fueling the region's rapid manufacturing advancement and enlarging consumer markets. Also, the urge for high-performance materials in automotive and electronics is placing strong demand on PBT resins in the region.

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Indorama Ventures Public Company Limited (Thailand), Alpek, S.A.B. de C.V. (Mexico), SABIC (Saudi Arabia), BASF SE (Germany), Lotte Chemical Corporation (South Korea), Mitsubishi Chemical Group Corporation (Japan), and Jiangsu Sanfangxiang Group Co., Ltd. (China) are the key players in the global PET & PBT resin market.

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